B-144327, FEB. 17, 1961
Highlights
POTTS: FURTHER REFERENCE IS MADE TO YOUR LETTER OF NOVEMBER 25. YOU WERE ADVISED IN OUR DECISION OF NOVEMBER 21. THAT INASMUCH AS THE AMOUNT DEDUCTED WAS INSUFFICIENT TO PURCHASE A BOND OF THE DENOMINATION OF $50. NO BOND ACTUALLY WAS PURCHASED. YOU WERE CORRECTLY ADVISED THAT. INTEREST ON CLAIMS OF THIS CHARACTER IS NOT PAYABLE BY THE UNITED STATES. THERE IS NO BASIS FOR MODIFYING THE ACTION TAKEN IN THAT DECISION.
B-144327, FEB. 17, 1961
TO MR. THOMAS R. POTTS:
FURTHER REFERENCE IS MADE TO YOUR LETTER OF NOVEMBER 25, 1960, ADDRESSED TO THE U.S. SAVINGS BONDS DIVISION, TREASURY DEPARTMENT, WASHINGTON 25, D.C., IN WHICH YOU SAY THAT YOU BELIEVE INTEREST TO BE DUE YOU ON THE AMOUNT OF $49.50 ALLOWED YOU AS REFUND OF UNAPPLIED BALANCE OF SECOND LIBERTY LOAN BOND ALLOTMENT DEDUCTIONS MADE FROM YOUR ARMY PAY FOR THE PERIOD FROM NOVEMBER 1917 THROUGH AUGUST 1918.
YOU WERE ADVISED IN OUR DECISION OF NOVEMBER 21, 1960, B-144327, THAT INASMUCH AS THE AMOUNT DEDUCTED WAS INSUFFICIENT TO PURCHASE A BOND OF THE DENOMINATION OF $50, NO BOND ACTUALLY WAS PURCHASED. ALSO, YOU WERE CORRECTLY ADVISED THAT, IN THE CIRCUMSTANCES, NO INTEREST ACCRUED ON THE AMOUNT DEDUCTED, IT BEING THE RULE THAT IN THE ABSENCE OF A CONTRACT OR A STATUTE SO PROVIDING, INTEREST ON CLAIMS OF THIS CHARACTER IS NOT PAYABLE BY THE UNITED STATES. THERE IS NO BASIS FOR MODIFYING THE ACTION TAKEN IN THAT DECISION.