Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1922-10-12
ARE
BOOSTED IN PRICE
NEW TREASURY SAVINGS ISSUE
is OFFERED TO THE PUBLIC AT
SLIGHTLY HIGHER COST.
ATTRACTIVE TO THE INVESTOR
Decided Increase in Postal Savings
Deposits During August Is lndca-
ton Of Improved Employment condl-
tons Throughout the Country.
eY JAMES ?. HoRNApAY

BY JAMES p. HoRNADAY
Washington. The treasury an
nounces that effective October 1, the
issue prices of treasury savings certifi-
Gates will increase to $2O.50 for the
$50 certificates. $50 for the 500 certifi-
cate. and $500 for the 81 900 certificate.
At the new prices the certificates will
yield about per cent compounded
semi-annually if held to maturity and
about 3 per cent simple interest IL re-
deemed before maturity. The new
certificates will be dated September
80, 1922. in order to distinguish them
from the certificates now on sale,
which are dated December 49, 1921.
The current issue of certificates, which
were sold at $40 for a $50 certificate,
$50 for a 800 certificate and $500 for
81 900 certificate, have been with
drawn from sale in favor of the new
certificates. Treasury savings stamps,
non-interest bearing, which are now on
sale in the denomination of 81, are
likewise withdrawn from sale.
1At IuAAt cit ISSUE VI treasury
ings certificates was first placed on
sale December 10, 1921, and since that
date certificates up to about $115,-
100000 (maturity value) have been
sold Sales have been running at the
rate of about $15,OO0,0O0 maturity
value per month and there is every ev-
idence that the certificates have
proved increasingly attractive to in
vestors With sales satisfactorily es-
tablished on a going basis and with
the Improvement that has taken place
in the investment markets, the time
has come to readjust the interest basis
on which the certificates are sold, and
the treasury has accordingly decided
to make the increase in price which
is now announced.
Redeemable at Any Time.
Apart from the change in price, the
new certificates correspond in all es-
sential respects to the old ones. Each
certificate natures five years from the
date of its issue, but may be redeemed
at the option of the holder at any time
after issue, at the value indicated on
the back. The certificates are issued
only in registered form, in order to af-
ford protection agdfnstsfoss and theft,
and are exempt from the normal FEEDER
al income tax and from all state and
local taxation except estate or inner
itance taxes). The aggregate amount
Of treasury savings certificates Of. any
one series that may be held by any one
person at any one time is limited to
$4,000 maturity value, and for this
purpose the certificate issued within
any one calendar year, whatever the
issue or the issue price, constitute one
series. es4
Treasury savings certificates Of all
determinations may be purchased at
pOstofiices throughout the country. at
banks and other agencies, or from the
federal reserve banks and branches,
and mail applications addressed direct
to the treasurer of the United States,
Washington, ID. c., will receive prompt
attention. M
Postal Savings Increasing.
Postal savings deposits, which have
been languishng for many months,
show a decided Improvement for the
month of August, the beginning of the
upward trend first being noted in July,
according to figures announced by the
PostofIice department Withdrawals in
mining and railroad centers and other
points where unemployment conditions
have been acute were still heavy dur
ing August, but were almost counter
balanced by Increased deposits in a
number Of the larger cities. While
postal receipts may be said to indi-
cate the health of business, postal saw
ings deposits on the other hand reflect
with considerable accuracy the employ
ment conditions throughout the coun-
try because it is the laboring man.
and especially the foreigner, who utIl-
ICES to the largest extent the safety
found in Uncle Sans postal banks.
Assistant Postmaster General Glow
err, who has direction over the postal
savings division, expresses confidence
that improved labor and business con
ditions during the next few months
will reflect to a more marked extent
upon the health OF the postal savings
business The largest increase in de-
posits made by any office was reported
by Boston, which held the same honor
in July. The increase at Boston in
July over June was $l29,630 and the
August increase over July was $149,-
IFS. The SECOND largest increase in
deposits was made by Brooklyn, n. Y,
with deposits for August of $685.
Sal as compared with $13,544,431, an
increase of SOL. ITO. Atlantic City, n.
j., reported the third largest gain.
to S49,96S, and incidentally
during the last two months climbed
from fifty-irst to thirty-eighth place
among the cities of the country in the
of postal savings deposits. The
fourth largest gain, amounting to $2S,-r
239, was reported by Detroit, Mich.
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