The Barre daily times. (Barre, Vt.) 1897-1959, 1911-11-06
MAY BUY U. S. BONDS.
Postal Savings Bank Deposits May Be
Converted on Jan. /, 1912.

An opportunity to exchange postal
savings bank deposits into government
bonds will be offered the patrons OF the
various offices, including that at Barre,
on January /, 1912, according TO In
formation received yesterday by Post
master u. w. Bisbee OF the Barre oiilee'
Mr.. Bisbee says the amount OF deposits
in the local postal bank has been good
since the banking department was
opened some months ago
For the information Of those who may
wish to have deposits converted into
government bonds, the following state
ments will be OF interest;
"Depositors of the postal savings sys-
tenn may exchange the whole or part OF
their deposits on January !, 1872, tor
United States registered or coupon bonds
in denominations OF $40, 500, and 5000,
bearing interest at the rate OF 21a per
cent. per annum, payable semi-annuaily,
and redeemable at the pleasure OF the
United States after one year from the
date of issue, both principal and interest
payable 20 years from that date in Unit
ed States gold coin.
postal savings bonds are exempt from
all taxes br duties OF the United States,
as well as from taxation in any form
| by or under state, municipal, or local
authority.
Applications for the conversion of de-
posits into bonds on January !, 1912,
must be received before December 10,
1911, by the postmaster at the depos-
itory office where the certificates were
issued. The postmaster will supply an
application form which must be made
out in triplicate. The depositOr must
indorse and surrender with his appliea-
tion postal savings certificates covering
the amount of the bonds desired, for
which the postmaster viii give him a
receipt. When the postmaster receives
the bonds applied for he win notify the
! depositor and will deliver the bonds on
presentation of the receipt for the GER
tifcates surrendered.
THE conversion of deposits into bonds
at date less than one year after tine
certificates began to bear interest for.
fets interest on the deposits as in the
case of withdrawal for any other pur-
lpose.
Postal savings deposits converted into
bonds are not counted as a part of the
maximum Of $500 allowed one depositor,
and there is no limitation on the amount
of available postal savings bonds which
may be acquired finally by depositor.
! The exchange is considered as taking
effect on January l. and a depositor
who has applied to convert into bonds
lal or part Of the maximum balance OF
$500 may deposit an additional amount
| in January. though the bonds may not
| yet have been delivered.
postal savings bonds can be pro-
cured only by the conversion of postal
savings deposits and will not be issued
to persons who are not depositors They
may be sold or assigned 10 any person,
however. by the holder, and when reg
istered bond is assigned new bond viii
be issued in the name of the owner.
Interest on registered bonds is paid
| by checks drawn at the treasury de-
lpartment in favor Of the registered hold
er These checks are sent by mail TO the
postofice address Of the holder, and the
holder Of a registered bond should notify
the secretary of the treasury division
of loans and currency of any change in
/ his postoflice address at least Is DAYS
before the interest falls due Checks for
interest on registered bonds, as well as
interest coupons detached from eoupan
bonds, are payable on presentation at
the United States treasury or at the
office of any assistant treasurer of the
United States. Interest checks and cou-
pons covering interest on postal savings
bonds may be cashed by postma sters
under the same conditions as other gov
ernment paper"