Harry Brand Received

Adjusted Service Certificate Saturday.-Was Greatly Pleased.

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POLICY FOR $828 PAID UP INSURANCE, RUNS 20 YRS.

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Was Placed in Mails at

Washington, D.C, on

New Year’s Day. Others

Received Here.

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Harry Brand is said to be the first ex-service man in New Ulm to receive adjusted service compensation, providing a 20-year endowment insurance policy. The policy was mailed to Washington, D. C., New Year’s day and Mr. Brand received it through the mail Saturday afternoon. He was so pleased that he came over to the Journal office and exhibited the policy. Others are being received almost daily by ex-service in this city and community.

Thousands are being mailed out from Washington, D: C., and are being delivered to the “buddies” all over the northwest. It is a “Happy New Year” present.Mr. Brand’s Policy was numbered 42,537. This Indicates that over 42,000 policies were issued prior to his. At the end of nineteen years the policy has a loan value of ninety cents on the dollar. It carries features along the line of endowment policies issued by old-line insurance companies, and is a nice nest egg for the ex-servicemen. Most of them will put these policies away in their safety deposit boxes and let them grow Into money value. At the end of twenty years they are worth their face value, the same as any old line insurance policy of the endowment nature.

The policy is printed upon government paper, similar to paper money,about 9×16 inches, and is headed with the following legend: “The United States of America Adjusted Service Certificate.” The first policies were placed in the mails at Washington, D. C., New Year’s eve, under provisions of the soldiers bonus act of last spring. Cash payments under the law of $50 or less,will start coming March 1.

Former servicemen have until January 1, 1928, to file their bonus applications.

Mapped Out Program.

The treasury has mapped out its financial program for meeting the requirements of soldiers’ bonus, and Friday made its first deposit-$100,-000,000-in a special account from which the adjusted service certificates will be paid. It is the plan to add each year a similar amount under the law to this special account, and this sum, with its interest compounded semi-annually at 4 percent, is calculated to be sufficient to meet all payments on the service certificates when they mature some 20 years hence.

Can Meet Certificates.

Provision is made whereby the fund is equipped from this date to meet such maturing certificates as may be due as a result of deaths of the beneficiaries, and the additions to the fund are expected to be able to care for the gradually increasing maturities of the future years.

Brown County Journal,

January 9, 1925

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