Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1912-11-15

TIE POSTAL SAVINGS.
OONCERNINGP posi-.
AL SAVINGS BONDS TO BE IS
SUED JANUARY I, 1918

AL SAVINGS BONDS TO BE Is n
SUED JANUARY l., 1918
Description Of Postal Savings Bonds
!. By applying on or before Decem-
Der 2, 1912, deposits OF the Postal
Savings System may exchange The
whole or part of their deposits fer
United States registered OF coupsa
bonds in denominations of $40, $l00L
and $500, bearing interest r from
January /, 1913, at the rate Of 215 per
cent per annum, payable semiannually,
and redeemable at the pleasure Of tho
United States after one year from tho
date Of issue, both principal and in
terest payable 20 years from that date
in United States gold coin. -
2. Postal savings bonds are exempt
from all taxes or duties Of the United
States, as well as from taxation in any
form by or under state, municipal, oe
local authority.
Conversion Of Deposits
8. Applications for the conversion
Of deposits into bonds on January /,
/ 1913, must be received on or before
! December 2, 1912, by the postmaster at
the depository office where the Ger.
tifcates 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 eer-
tifcates covering the amount Of tho
bonds desired,' for which the postmas-
ter will give him receipt. The bonds
will be issued by the secretary of tho
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 withdraw for any other
purpose.
S. Postal savings deposits converted
into bonds are not counted as part of
the maximum Of $500 allowed one de-
positor, and there is no limitation on
the amount Of available postal savings
bonds which may be acquired finally by
a depositor. The exchange is consider
ed as taking effect on January l, and
a depositor who has applied to con-
vert into bonds all or part of tho
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
issued to persons who are not deposf-
tors. They may be sold or assigned to
lany person, however, by the holder, and
when a registered bond is assigned
new bond will be issued in the name Of
the owner.
Registered and Coupon Bonds
7. The depositor 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 win
pass by delivery without Endorsement.
Interest on coupon bonds is collected
by means Of interest coupons, which
are detached by the holder as they BE-.
come due.
Registered bonds are preferable for
persons intending to hold them, for q
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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 to the per
sons to whom issued or their assigns.
> (c) The ownership Of registered
bonds can be transferred only by as
signment in proper form.
, Assignment of Bonds
8. Registered bonds are assigned by
the use Of a 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 OF
more registered bonds, and when such
i bonds are assigned they should be
transmitted by the new owner to the
secretary of the treasury (division of
: loans and currency for transfer on the
: books Of the department. Registered
= bonds can not be exchanged fo'
coupon bonds. Coupon bonds may be
converted into registered bonds, with
out charge, at the request Of the hold
= er:
Assignment by Minors
9. Under the regulations Of tn,
treasury department minor can mo-
] assign registered bonds without th'
;. consent Of duly appointed guardian O. o
: trustee, evidence Of whose satnor,S!
!. must be submitted. A minor s1s tn'
night to convert his postal savint ,s ~ =
tiicates into registered bonds, but l. < =
= should desire to assign tie bonds du.
ing his minority he must comply with
this regulation. This difficulty does not
exist in. the case Of coupon bonds,
which are transferred by mere delivery:
Payment Of Interest on Bonds
10. Interest on registered bonds II
paid by checks drawn at the treasury
department in favor of the registered
holder. These checks are sent by mail
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