LOAN CERTIFICATES

Dominion, Volume 9, Issue 2869, 6 September 1916, Page 6

LOAN CERTIFICATES

SAFE DEPOSIT NOW OFFERED AT GENERAL POST OFFICE

As far as the chief conlros aro concerned the chief post offices aro now prepared to accept the custody of- war loan certificates tliat have been or will bo purchased by inrcstors, largo and small. It was seen early*in tho loan, campaign that some arrangement would have to be made to assist purchasers of certificates in the custody of their papers. The Post' Office Department at once got to work,_ and framed a scheme that was actually put into operation in Wellington yesterday. The business of taking charge of the people's certificates was not so easy as it seemed, as they had to ensure that, at tho termination of the iivo-year period, they were paying out to th<s proper persons (or his or her lieir or assigns). So a somewhat elaborate form had .to be drafted in order tn preserve a perfect record "of the certificates taken charge' of, and to whom they belonged. This is a doublefoolscap sheet, used (for record purpases) with the aid of n carbon sheet. The first form (A) is an' interim receipt, good for one month only, issued by postmasters to depositors of certificates, and containing tho name of tho depositor, his address, and. the numbers inscribed on his certificates. This is signed by the postmaster and handed to the depositor. The second form (B) is tho formal request to the Chief Accountant, G.P.0., to take custody ol tho war loan certificates (numbers given again), signed by tho dejiositor; with- that is form (C), which is tho postmaster's memo, to the Chief Accountant. _ (D) is a slip reserved for tho specimen, signature of tho depositor, to be referred to five years hence, when tho face-value of the certificates is claimed.

Tlio second folio of the sheet is handed to the depositor in due course. It contains (E) • a receipt from the Chief Accountant that the certificates (numbers given) have been received; a form (P) to be used when the depositor wishes them returned on their maturity ; another form for tho specimen signature of the depositor, to enable tlio postmaster at the place of payment to identify the applicant; an.acknowledgment (H) of tho receipt of the certificates; and finally (I), the postmaster's memo, to the Chief Accountant that the certificates have been duly delivered to their owner. The process as set out '.seems to _b<s somewhat complicated, but *in._ reality is quite simple, and only provides for reasonable safeguards. The custody of certificates is going to give tho Department- a great deal of new work, but it is not possible to avoid it. The certificates, as they como in from all parts' and are duly recorded will be deposited in tho vaults of the General Post Office in Wellington, where it is. almost impossible to-conceive their destruction by firo or loss in any way.