NATIONAL SAVINGS

Dominion, Volume 35, Issue 171, 16 April 1942, Page 8

NATIONAL SAVINGS

Protection Against Loss Of Bonds

The loss or destruction of National Savings bonds does not necessarily entail loss of the moneys invested, said the Director-General of the Post and Telegraph Department in a statement issued yesterday. In such cases payment of the amount involved would be arranged providing an indemnity were furnished by the owner of the bonds guaranteeing to refund the sum paid in the event of the bonds being presented at a later date. Before this could be done, however, particulars of the bonds, i.e., date and office of purchase, number of bond and amount, would have to be furnished for the purpose of ensuring that they had not already been redeemed and to guard against fraudulent claims. To provide for such particulars being »valiable the bolder could place the bonds on safe deposit at a bank and place also a record of the bonds with'his solicitors and/or relatives so that the record would be available at two or thiee different points. Alternatively. the bonds could be retained by the owner with a record of the particulars held by a bank or solicitor in the same town or even in another town if desired. If desired, the Post Office will undertake custody of the bonds free of charge; and every precaution is taken l)j’ the Post Office to guard asrainst loss or destruction. Duplicate records are available of all such documents and these are kept in safe custody in widely-dispersed areas. It is most unlikely that all such records would be destroyed.

An interim receipt for bonds lodged with the Post Office for safe custody is given at tlie time of lodgment; and an official receipt is forwarded later by the Director of Accounts, G.P.O. In the event of loss by depositors of receipts for bonds lodged with tlie Post Office for safe custody, duplicate receipts will lie furnished on application to the department.