Norwich bulletin., 1912-11-13
S4,o0o IN DESPOSITS | IN POSTAL SAVINGS
Norwich Office Has About 75 Names i1
 the List-Bonds Offered.

Since the Norwich postoff1ce has been a postal savings depository, that is, from Sept 2S, 1911, to the present time,, the deposits have grown till they now approximate $4,000, and the de- positors are now being notified that they have another opportunity to con vert their savings into postal savings bonds.
 The depositors at the Norwich office number about 75, indicating an aver age deposit of about $53, there having been only one depositor of any particu- larly large amount It has been the experience here that the postal savings department is very likely to be used by those who have been familiar with this form of savings in other countries and a good proportion of the deposit ors has been of this class. When the issue of postal savings bonds was made last January there were several from the Norwich office who converted their savings into bonds. The principal regulations re- garding the issue of bonds are as fol- lows:
 By applying oH OF before Dec ?, 1912, depositors of the postal savings sys- tenn may exchange the whole or a part of their deposits for United States reg | iStered or coupon bonds in denomina- | tions of $20, $108 and $500, bearing in terest from Jan. 1, 1913, at the rate of 12 cent. per annum, payable semi annually, 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 United States gold | coin.
 Postal savings bonds are exempt | oil IY7t of | States. as well as from taxation in any form by or under state. municipal or | local authority.
 Applications for the conversion of deposits into bonds on Jan. 1, 1913, must be received on or before Dec 2, | 1912, by the postmaster at the depos- | itpry where the certificates were is. sued. The depositor must indorse and surrender with his application postal savings certificates covering the amount of the bonds desired, for which l the postmaster will give him a receipt | The bonds will be issued by the secre- tary of the treasury, and as soon as they are ready will be delivered to the l applicants, which usually takes about | a month.
 The conversion of deposits into bonds | at a date less than one year after the | certificates began to bear interest for l feits interest on the deposits as in the case of withdrawal for any other pur- | pose.
 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 a registered bond is assigned a
 new bond will be issued in the name i of the owner 1 The depositor's application must in- i dicate whether bonds are desired in
 registered or coupon form. Coupon l bonds are preferable for a depositor
 who intends to hold them for a short
 time only and who has ample facili-
 ties for their safe keeping These bonds are payable to bearer, and the l title will pass by delivery without in- dorsement. Interest on coupon bonds
 is collected by means of interest cou-
 pons, which are detached by the holder
 as they become due.
 Registered bonds are preferable foi persons intending to hold them for g
 considerable period, and they differ
 from coupon bonds in the following re. spects:
 (a) They have inscribed upon theil
 face the names of the persons to whom
 they are issued.
 (b) They are payable only te thu
 persons to whom issued or their as.
 signs.
 Co The ownership of registered
 bonds can be transferred only by as
 signment in proper form.
 Interest on registered bonds is paiC
 by checks drawn at the treasury de partment in favor of the registeres
 holder. These checks are sent by mai to the postoffice address of the holder
 Payment on registered bonds tha have been lost or stolen nay be stopped by notifying the secretary of the treas ury (division of loans and currency at Washington. If coupon bonds ar
 lost the government does not under take to protect the owner against tn wrongful holder, but recognizes tn bearer only. When bonds, either reg istered or coupon, have been destroy
 ed, wholly or in part, or defaced, claim may be filed with the secretar of the treasury under certain pre- scribed conditions for their replace ment.
 } On the application of any holder tn board of trustees will purchase posta
 savings bonds at par.