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Show Report On Savings Bond Sales Released by Chairman Utahns invested $1,851,387 in Series E and H Savings Bonds in February and $3,929,539 during dur-ing the first two month of 1966, up slightly over the 1965 banner ban-ner year, according to sales figures fig-ures released by Clem S. Schramm, State Savings Bonds Director, to Francis W. Betenson, manager, First Security Bank, Cedar City, county bonds chairman. chair-man. Februalry sales reported for Iron County were $3,031, bringing the two-month total to $14,618, or 20.9 of the 1966 goal, Chairman Betenson said. He also expressed the opinion opin-ion that the February report did not truly reflect the interest being be-ing evidenced by county residents resi-dents in the increased rate that was announced after the middle of February. All outstanding E bonds going back to 1951, as well as those purchased from Dec. 1 on, will benefit from the new 4.15 rate," the chairman noted. "Unmatured E bonds will be worth more than their face value at maturity; matur-ity; those now in their first and second extension periods will earn the new rate starting Dec. 1. These increased values will show up in the May 1966 redemption re-demption value tables. "The new rate also applies to Series H bonds effective Dec. 1, and owners of these bonds will receive higher interest checks beginning be-ginning June 1." It was also pointed out that State income tax returns should not include as income interest derived from cashing E bonds nor interest checks received on H bonds. However, such interest must be reported in Federal income in-come tax returns. |