said board of directors of the time and place of said meeting, and of the object thereof, for more than days prior thereto, and in time to enable all to attend said meeting; and that at such meeting so held a quorum of all the members of said board was present and voted for the adoption of said resolution.

Form of Authority under By-laws.

At the annual meeting of the stockholders of the

held — 18—,

of

—was duly elected president, and was duly elected cashier; and as such they are jointly or severally empowered by the by-laws (a certified copy of which is hereto annexed) to sell and assign any and all United States bonds now standing (or which may hereafter stand) in the name of this bank [or institution].

[Seal of bank or institution.]

ACKNOWLEDGMENTS

Secretary.

of assignments, when not made at this Department, must be made either before an Assistant Treasurer of the United States, a United States judge or district attorney, clerk of a United States court, collector of customs or internal revenue, or president or cashier of a National bank.

A notary public is authorized to take acknowledgments only on the Pacific Railroad bonds and on the 3 per cent. bonds of 1882. The witnessing officer should append his official title and affix his seal of office, if he have one; if he have no seal of office, he should certify such to be the fact. The president or cashier of a National bank must append the title and affix the seal of the bank. The impress of the seal must in every case be made upon the bond.

FOREIGN ACKNOWLEDGMENTS

may be made before a United States minister, chargé, consul, vice consul, or commercial agent. A notary public, or other competent officer, in a foreign country may take acknowledgments; but his official character and jurisdiction must be properly verified.* The official seal, where there is one, should in all cases be affixed, as per foregoing direction; and where there is none this fact should be made known and attested.

EXECUTION OF POWERS.

Powers of attorney for the transfer of bonds must be acknowledged in the presence of some one of the officers author

*See under head "Foreign successorship assignments," page 185.

ized to take acknowledgments of assignments; and where such officer has an official seal, it must be affixed; where he has none he should so state.

POWERS OF SUBSTITUTION

must be executed and acknowledged in the same manner as powers of attorney, and should likewise follow the same general form.

TRANSMISSION OF BONDS.

When registered bonds are properly assigned, they should be transmitted to the Register of the Treasury for reissue, and should be accompanied by a letter of explicit instructions, stating the amount enclosed, the loan to which the bonds belong, the denominations of the bonds desired in exchange therefor, the name and residence of each assignee, and the postoffice address to which it is desired the interest checks shall be mailed.

When bonds of different loans are forwarded in one remittance, a separate letter of instructions should accompany the bonds of each loan.

When coupon and registered bonds are transmitted at the same time, the former should be sent to the Secretary of the Treasury, and the latter to the Register of the Treasury.

Form of Letter Transmitting Registered Bonds for Transfer.

Hon. REGISTER OF THE TREASURY,

Washington, D. C.

SIR: Herewith you will receive U. S. registered bonds of the cent. loan of, which please transfer, as per assignment, to

Please send the new bonds to the subscribed address.

Mail checks for the interest to

Very respectfully,

NEW BONDS.

18-.

per

of

Registered bonds received for transfer are cancelled, and new bonds in their stead are issued in the name of the assignee. These bear interest from the first day of the quarter or half year (as their interest term may run) in which the transfer shall have been made. As a rule, returns are made on the same day that the bonds are received, and made invariably by registered

mail unless otherwise instructed. When bonds are sent or returned by express the entire expense thus incurred must be borne by the party desiring the transfer.

NO FEES

will be charged by a United States minister, chargé, consul, vice-consul, or commercial agent for witnessing and certifying an assignment of, or power to assign, bonds, or collect interest thereon. No charge is made by the Department for transferring registered bonds.

Interest on Registered Bonds.

The interest on registered bonds of the existing loans falls due upon the following dates, respectively: Currency sixes, Pacific Railroad........... ......January 1; July 1. Four-and-a-half per cent. funded loan of 1891....March 1; June 1; Sept. 1; Dec. 1. Four per cent. consols of 1907............... ..January 1; April 1; July 1; October 1. Three per cent. funded loan of 1882.. ....February 1; May 1; Aug. 1; Nov. 1.

Interest on registered bonds of the above-described loans is paid by checks drawn at this Department. These checks will be sent by mail when the post-office address is known; when this is not known they will be held by the Treasurer of the United States until called for by the payees thereof.

The checks are payable, when properly indorsed, on presentation at the United States Treasury or at the office of any Assistant Treasurer of the United States.

Holders of these bonds should notify the Register of the Treasury of any change in their post-office address at least fifteen days before the interest falls due; and in case of the appointment of an attorney to indorse the interest checks, notice of this fact should likewise be given to the Register. Such holders should also transmit to the First Auditor of the Treasury all powers of attorney authorizing the indorsement of interest checks, and advise him specifically, at which of the offices referred to above it is desired that the interest checks, under such powers, shall be paid.

CLOSING OF TRANSFER BOOKS.

For the purpose of preparing the interest schedules, the transfer books are closed during the month immediately preceding the date of payment of the interest.

If bonds forwarded for transfer be not received prior to or upon the day fixed for closing the transfer books, the transfer will not be effected until after the reopening of the books; and consequently the interest for that quarter or half year (as the interest term may be) will be declared in favor of the parties whose names appear upon the face of the old bonds, and to them the assignees must look for any interest claimed.

Form of Power of Attorney to Collect Interest Checks.

Know all men by these presents, that

of

do appoint

attorney to receive from the proper officer and to indorse checks for interest✶ in -name on the books of the Treasury Department of the United States; granting to said attorney power to appoint one or more substitutes for the purposes herein expressed; hereby ratifying and confirming all that may lawfully be done by virtue hereof.

*When intended to be special, insert [due on the

bonds standing in

.] When general, insert [now due and which may hereafter accrue on all bonds standing, or which may hereafter stand, in

-.]

EXECUTION OF POWERS OF ATTORNEY TO INDORSE INTEREST

CHECKS.

Powers of attorney must be acknowledged either before the Treasurer or an Assistant Treasurer of the United States, a United States judge, United States district attorney, clerk of the United States court, collector of customs, collector of internal revenue, president or cashier of a National bank, or a notary public. If in a foreign country, powers must be acknowledged either before a United States minister, chargé, consul, vice-consul, commercial agent, or notary public. If before the latter, his official character and the genuineness of his signature must be properly verified.

The acknowledging officer must add his official designation, residence, and seal, if he have one; if he have no seal of office, he should certify such to be the fact.

Powers of attorney and testamentary evidence designed as authority to collect interest checks should be filed with the First Auditor of the Treasury.

day of " 18—, a quorum being present, it was, on motion, Resolved, That be, and is hereby, authorized to receipt for and to indorse checks for interest due, or to become due, on all United States bonds registered in the name of on the books of the Treasury Department, with

power to appoint one or more substitutes for the purposes herein expressed, until such authority is officially revoked, and notice of revocation is properly given to the Treasury Department.

A true copy of the minutes.

(Signed.)

[SEAL.] Attest:

,

President. Secretary.

NOTE. Where the society or institution has no seal, it will be requisite to acknowledge the instrument before a notary or some other competent officer having an official seal. If the president, cashier, secretary, or treasurer be authorized to indorse the checks, the instrument must be certified by an officer other than the one empowered to make the indorsement.

The First Auditor of the Treasury should be advised where interest checks indorsed by attorneys will be presented for payment.

INTEREST TO JOINT HOLDERS OF REGISTERED BONDS. Interest will be paid to any one of several joint holders, or co-trustees, executors, administrators, or guardians; but in the execution to a third party of a power to collect interest checks all must join. In case of the death of any such joint holders, co-trustees, &c., the survivor or survivors will be recognized as having full authority, upon due proof of such death and survivorship.

Payment of Interest on United States Registered Bonds Inscribed in the Names of Minors.

The following synopsis of the decision of the First Comptroller of the Treasury, of February 4th, 1881, respecting the payment of interest on United States registered bonds inscribed in the names of minors, is published for the information and guidance of the officers of this Department:

1. When Government bonds are registered in the names of infants, interest checks issued in payment of interest thereon will be delivered and paid only to the proper guardian of such infants, when the Secretary of the Treasury has been notified of such infancy.

2. Neither the father nor mother of an infant has the right, as a general rule, to indorse or collect such interest checks.