The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1918-12-18
Making Bonds Safe
Treasury Department Plans to
Protect Bondholders From
Loss or Theft of Bonds.


against loss or theft of Liberty Bonds,
owners are being urged by the treas
ury to have their coupon bonds reg
istered, although the procedure re-
suits in a great amount of work and
expense for the government, now
that the number Of BOND owners runs
above thirty millions. The reglstra-
ton can be arranged at most banks,
and is done without cost to- the owner.
After registration, if a bond is accl-
dentally lost, stolen or destroyed, the
government will pay it at maturity
Just the same, and interest checks
will be mailed to the bond owner
twice a year without requiring him
to go to the trouble of clipping cou-
pons and presenting them at a bank.
''The fact that bonds Of the First
Liberty Loan or bonds Of the Second
Liberty Loan are converted into bonds
bearing higher rate Of interest does
not affect the dates on which inter-
est is payable" explains treasury
announcement
Interest is paid on bonds Of the first
loan, regardless of whether they have
been converted, on June Is, and De-
cember 16; on bonds Of the second
loan, May 5 and November 16; third
loan, March Is and September 16;
Fourth loan, April Is and October
Is.
The treasury also explains that
owing to the mechanical difficulties of
preparing millions Of interest checks
on registered bonds, coupon bonds
will not be exchanged for registered
bonds or registered bonds transferred
on the books from the owner to an
other, during a month before an in
terest paying date of each particular
loan. For example, exchanges or
transfers can not be arranged for
First Liberty Loan bonds between
May Is and June 16; and between No
vember Is and December 16. For the
Second loan, these dates would be
April Is to May is; and October Is
to November 16. For the Third
loan, February Is to March 16; and
August Is to September 16. For the
Fourth loan, March Is to April 16;
and September is to October 16.
This arrangement is explained ~J
the treasury as follows
During any period when the
transfer books for any particular loan
are closed no transfers of registered
bonds Of such loan or :nterchanges of
registered and coupon bonds of such
loan will be permitted, but if requests
for transfer Of any such registered
bonds or interchanges Of any such
registered and coupon bonds are re-
ceivei during any such closed period,
the requests will receive attention
upon the reopening of the books.
"The semi-annnual interest will be
paid to the person in whose name
bonds are registered as shown by the
books of the treasury department on
the date the books Close regardless Of
any disposition that may be made by
the registered holder during the Cos
ed Jeriod. If coupon bonds are pre-
nted for exchange for registered
bonds during such closed periods.
the coupon next due should be de-
tached and collected in the usual
manner II registered bonds are
presented for exchange for coupon
bonds during such closed periods, in
terest on such registered bonds will
be paid IN the usual manner. and
the coupon bonds delivered upon
such exchange after the reopening. of
the boks will have the coupon matur-
ing on the interest day for which the
books were closed and prior coupons