7 5TH CONGRESS, 1sT SESSION-CH. 411 JULY 8, 1937 indirect, and which is of, or is similar to, a class or kind of article or thing or representative of value which it has been the practice here- tofore of the United States to insure as the insured party, against loss, destruction, or damage in shipment, and includes, but is not limite d to, coi n, specie , bullion , currenc y, bonds, coupons, debentur es, bills, notes, certificates of indebtedness, certificates of deposit, mort- gages, assignments, certificates of stock, warehouse receipts, checks, trust receipts, warrants, stamps, and any other securities, papers, or materials of value, whether complete, incomplete, mutilated, in defini- tive form, or represented by interim documents
- the term "Uni ted
States" as used in this subsection means the United States or any of its executive departments, independent establishments, agencies, wholly owned corporations, officers, or employees ; (b) The term "shipment" means the transportation, or the effect- ing of transportation, of valuables, without limitation as to the means or fac ilitie s used or by which the tr anspor tation , is e ffecte d or the person to whom it is made, and includes, but is not limited to, shipments made to any executive department, independent establish- ment, agency, wholly or partly owned corporation, officer, or employee of the United States, or any person acting on his or its behalf or at his or its direction ; (c) The term "whol ly o wned corpo ratio n" m eans any c orpo ratio n, regardless of the law or laws under which it is incorporated, the capital of which is entirely owned, directly or indirectly, by the Unite d Stat es, an d incl udes t he dul y autho rized office rs, em ployee s, and agents thereof ; (d) The term "replacement" means payment, reimbursement, repla cement , or d uplica tion o r the expense s inci dent t hereto . Si :C. 8 . (a) Whenever it is clearly proved to the satisfaction of the Secretary of the Treasury- (1) T hat a ny in tere st-be aring sec urity of t he Un ited Stat es, identified by number and description, payable to bearer or so assigned as to become, in effect, payable to bearer, has been wholly or partly destroyed, or so mutilated or defaced as to impair its value to the owner, or has been lost or stolen under such circum- stances, and such a period of time having elapsed after it has matured or has become redeemable pursuant to a call for redemp- tion, as in the judgment of the Secretary would indicate that it has been destroyed or irretrievably lost, is not held by any person as his own property and will never become the basis of a valid claim against the United States ; or (2) That any i ntere st-b earin g sec urit y of the U nite d Sta tes, identified by number and description, which is not payable to bearer and which has not been so assigned as to become, in effect, payable to bearer, has been lost or stolen, so that it is not held by any person as his own property, or has been wholly or partly destroyed, or so mutilated or defaced as to impair its value to the owner ; the Secretary, upon receipt and approval by him of a bond of indem- nity, if and as required by subsection (b) hereof, shall, in the case of a security which has not matured or become redeemable pursuant to a call for redemption, issue a substitute marked "duplicate" and showing the serial number of the original security ; or shall, in the case of a security which has matured or become redeemable pursuant to a call for redemption, make payment thereof to the owner, with such interest only as would have been paid had the security been presented when it became due and payable : Provided, That in the case of an interim certificate relief may be given by the issue of a definitive security, whether before or after maturity, rather than 12 515l§- 37--31 "Shipm ent ." "Replacement ." Powers of Secretary in designated cases . Loss, destruction . etc ., of interest-bearing security . 481 "United States." "Wholly owned cor- poration ." Regis tered, etc . , s e- curities. Issuance of dupli- cate. Indemnity bond . Payment, if secu- rity has matured . Provisos . Interim certificates .
