The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1911-11-06

DeSCrlptlOn OF FOStdt Savings BONUS.
/. Depositors of the Postal Savings
System may exchange the whole or
part of their deposits on January
/, 1912, for United States registered
or coupon bonds in denominations of
$50, 800 and $500, bearing interest at
the rate of 21a per cent per annum,
payable semiannually, and redeemable
at the pleasure of the United States
after one year from the date of is
sue, both principal and interest pay
able 90 years from that date in
United States gold coin.
9. Post savings bonds are exempt
from all taxes or duties of the United
States, as we'll as from taxation in any
form by or under state, municipal or
local authority.
Conversion of Deposits.
8. Applications for the conversion
of deposits into bonds or January 1,
1912. must be received before Deem
Der Is, 1911, by the postmaster at
the depository office where the certi-
ficates were issued. The postmaster
will supply an application form which
must be made out in triplicate. The
depositor must indorse and surrender
with his application postal savings
certificates covering the amount OF
the bonds desired, for which the post
master will give him receipt. When
the postmaster receives the bonds
applied for he will notify the deposit
tor and will deliver the bonds on
presentation of the receipt for the GER
tificates surrendered.
4. The conversion of deposits into
bonds at date less than one year
after the certificates began to bear in
terest forfeits interest on the deposits
as in the case of withdrawal for any
other purpose.
5. Postal savings deposits convert
ed into bonds are not counted as a
part of the maximum of $500 allowed
one depositor, and there is no limita-
ton on the amount of available pos
tai savings bonds which may be ac-
quired finally by deposition. The
exchange is considerd as taking eff.
feet on January /, and a depositor
who has applied to convert into bonds
all or part of the maximum balance
of $500 may deposit an additional
amount in January, though the bonds
may not yet have been delivered.
6. Postal savings bonds can be
procured only by the conversion OF
postal savings deposits and will not
be issued to persons who are not
depositors. They may be sold or as
signed to any person, however, by
the holder, and when a registered
bond is assigned a new bond will be
issued in the name of the owner.
Registered and Coupon Bonds.
7. The depositor's application must
indicate whether bonds are desired
in registered or coupon form. Cou
pom bonds are preferable for a de
positor who intends to hold them
for a short time only and who has
ample facilities for their safekeeping
These bonds are payable to bearer
and the title will pass by delivery
without indorsemnt Interest on cou
pom bonds is collected by means OF
interest coupons, which are detached
by the holder as they become due.
Registered bonds are PREFERABLE for
persons intending to hold them for
considerable period, and they differ
from coupon bonds in the following
respects:
(a) They have inscribed upon theil
face the names OF the persons te
whom they are issue.
OBJ They are payable only to the
persons to whom issued or their as
signs.
(c) The ownership of registered
bonds can be transferred only by as
signment in proper form.
I