Iron County Record | 1965-04-01 | Page 10 | Savings Bonds Sales in Utah Surpass Last Year

Savings Bonds Sales In Utah Surpass Last Year Utahns invested $1,975,731 in U. S. Savings Bonds during February, Fe-bruary, thus for the second month in 1!5 exceeding last year's purchases. The high record of sales was revealed this week by Francis W. Betenson, manager. First Security Bank of Cedar City, who serves as county bond chairman. In Iron County, sales of $5,081 were reported during the month of fl-bruary to bring the county's coun-ty's two-month total to $8,420. On a state-wide basis the total sales were listed at $3,915,354, he said. "One of the reasons Utah's bond purchases continue high may be the increasing awareness that interest earned on Series E and H bonds is not taxable by the State for income tax, the rates on which were Increased by the last legislature," Betenson Beten-son stated. "Also, while Interest earnings are subject to Federal income tax in the year received, Series E bonds may be held for a minimum of 17 34 years," he pointed out.