Norwich bulletin., 1920-01-09
WAR SAVINGS SECURITIES
 4s-4 0M SAFE FOB 1o.

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 The U. S.. treasury department has announced the issue. of the 1920 war savings securities to be, sold at post offices and other agencies, consisting principally of. incorporated banks and trust companies. From December 1917, to Dec. ,15, 1919, the treasury has received from the sale of the war savings securities $1,12s,4s0.7S1.
 The 1920 securities consist of the twenty-five cent thrift stamp. which bears no interest and is used to evil dence payments on account of war savings stamps and certificates; the $5 war savings stamp, and the regis | tered treasury savings certificates in , denominations of $1O0 and a $1, 900 maturity value. The 1919 and the 1920 thrift stamps are identical, and Thrift stamps of last year may be used in filling 1920 thrift cards. The issue price of the war savings stamp is $4.12 in January and increases 1 cent a month to $4.23 in December. The issue price of the $100 certificate is $S2,40 in January and increases at the rate of 20 cents month to $S4.60 ! in December. The s1,000 certificates will be sold for $S24 in January, and the price increases at the rate of $2 a month to $846 in December.
 As in 1919, war savings certificates of the 1920 series bearing their full complement of 20 war savings stamps may be exchanged for registered treasury savings certificates, series of 1 1920, of the $100 denomination, and owners of war savings certificates who. desire the protection of registra- tions are urged to exchange their war savings certificates for treasury
 savings certificate rather tkan to | certificate at a post oEice.
 In addition to it's other advanta ges, the treasury savings certificates, give the benefit of central registration at the treasury and the provision for payment by the treasury itself The latter provision will be of advantage and facilitate payment in case of change of residence, since a registered war savings certificate can be re- deemed only at the post office at which it was registered.
 The treasury department also offers 1918 issue of treasury savings cer- tifcates in the denomination of $100 and S1000, in both cases not for cash sale but only in exchange for 1918 and. 1919 war savings certificates re- spectively.
 Holders of one or more war savings certificates of the 1918 or 1919 issue which bear war savings stamps hav- ing a total maturity value of $f00 or some multiple of a $100 may exchange the certificates for the same matur- ity value of treasury savings eertif1- cates of the corresponding issue. When two or more war savings cer- tifcates are offered for exchange, each one need not bear it's full complement of twenty war savings stamps, pro- vided the total value of the stamps aggregates $100 or some multiple of it. f In the matter of ownership, the reg uIations provide in effect that the treasury savings certificates taken in exchange may be made out in favor of new and different owners, if the owners of the war savings certificates so request. The exchanges may be made at first and second class post offices specially designated by the post offices specially designated by the postmaster general, at Federal Reserve banks, and at the division of loans and currency of the treasury, but not at banks and trust companies generaIly,