OCR Text |
Show War Bonds Will Be Redeemed Beginning October 2, owners of Series E war bonds can, if necessary, neces-sary, redeem them at any qu&Ji-fied qu&Ji-fied commercial bank or trust company, according to official word reaching the Utah War Finance Fi-nance committee from Washington D. C. Principal reason for this simplified sim-plified redemption procedure, which j applies also to Series A. B. C and D savings bonds sold from 1935 to 1941, is the big increase in bond holders, now estimated at 60 per cent of the total population. j The new system may also have a deterring effect on redemptions, j according to D. Howe Moffat, ex- ' ecutive manager for Utah. With the new method, he pointed out, of providing immediate payment of eligible bonds upon presentation presenta-tion by the owner, or co-owner, it is believed many redemptions, such as those heretofore made in anticipation of delay in payment, and later found unnecessary, will be avoided. Also is was explained, persons who have money on hand may resolve any doubts in favor of buying bonds if they know that E bonds can be turned into cash immediately if emergency requires. re-quires. Heretofore, E bonds have been redeemable only upon certification to a Federal Reserve Bank. Although Al-though no Utah banks hav qualified quali-fied as yet, it is believed most will, as the U. S. Treasury will compensate them on a quarterly basis for each bond paid. |