The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1912-10-31
Postmaster Baker Instruct
ed to Issue Bonds at Pos
5
tai Bank January LIST.
BONDS TO DRAW INTEREST
Depositors at Bank will be Permitted
to Change Their Deposits to Bonds of
The Government Drawing two and a
Half Per Cent Interest.

Postmaster R. V. Baker has received
formal notice from the government in
structing him to provide for the issu-
ance Of coupon bonds by the local pos
tai savings bank beginning with the
first day Of January. The formal
order relating to the issuance of the
bonds is in part as follows:
l. By applying on or before De
cember 2, 1912, depositors of the Postal
Savings System may exchange the
whole or a part of their deposits for
United States registered or cupon
bonds in denominations of 500, 800,
and $500, bearing interest from January
l, 1913, at the rate of 211a per cent per
annum, payable semiannually, and re-
deemable at the pleasure of the United
States after one year from the date in
United States gold coin.
2. Postal savings bonds are exempt
from I'll taxes or duties of the United
States, as well as from Taxation in
any form by or under State, municipal,
or local authority.
3. Applications for the conversion of
deposits into bonds On January /, 1913,
must be received on or before December
IL, 1912, by the postmaster at the de-
pository Office where the certificates
were issued. The postmaster will sup
ply an application form, which must be
made out in triphcate. The depositor
must indorse and surrender with his
application postal savings certificates
covering tue amount of the bonds, for
which the postmaster will give him a
receipt. The bonds will be issued by
the secretary Of the treasury, and as
soon as they are ready will be delivered
to the applicants.
4. The conversion of deposits into
bonds at date less than one year after
the certificates began to bear interest
forfeits interest on the deposits as in
the case Of withdrawal for any other
purpose.s
5. Postal savings deposits converted
into bonds are not counted as part of
the maximum of $500 allowed one de-
position, and there is no limit on the
amount of available postal savings
bonds which may be acquired finally by
a depositor. The exchange is consid-
cred as taking effect on January l, and
| a sdepositor who has applied to convert
into bonds all or part of the maximum
balance of $500 may deposit an addit-
ional amount in January, though the
bonds may not yet have been delivered.
6. 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 to any person,
however, by the holder, and when reg
istered bond is assigned new bond
will be issued in the name of the owner.
{. The depositor s application must
indicate whether bonds are desired in
registered or coupon form. Coupon
bonds are preferable for depositor who
intends to hold them for short time
only and who has ample facilities for
their safe keeping. These bonds are
payable to bearer, and the title will pass
by delivery without Endorsement. In
terest on coupon bonds is collected by
means Of interest coupons, which are de-
tached by the holder as they become
due. &gs. sa sSTiAI
Registered bonds are preferable for
persons intending to hold them for
considerable period, and they differ
from coupon bonds in the following re-
spects:
(a) They have inscribed upon their
face the names of the persons to whom
they are issued.
(b) They are payable only to the
persons to whom issued or their assigns.
(c) The ownership of registered
bonds can be transferred only by as
signment in proper form.
8. Registered bonds are assigned by
the use of form printed on the back,
properly dated and acknowledged.
When the assignment is made by mark,
it must be witnessed by at least one
person other than the officer before
whom it is made A ledger account is
opened in the Treasury Department at
Washington with each holder of one or
more registered bonds, and when such
bonds are assigned they should be trans
mitted by the new owner to the Secre-
tary of the Treasurer division of
Loans and Currency for transfer on the
books of the department. Registered
bonds can not be exchanged for coupon
bonds. Coupon bonds my be converted
into registered bonds, without charge,
at the request of the holder.
Mr.. and Mrs. Wild leave on next
Monday for Los Angeles. where they