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NOW en to V -1e hand registrar, such tra nstar LO oo"] O 1 ''} C:1Oised On the coupon bond by the bond registrar. Such transfer may bo to bearer and thereafter trzinsforabi1_ity }» deliV( ry shall 1)e rc_ Stored, subject, 1-owever, to successive registrations and transfers as before. The principal of any bond registered as to principal alone, unloss registered to bearer, shall be payable only to or upon the order of the registered owner or his legal representative, but the coupons appertaining to any bond registered as to principal s}gall remain payable to bearer notwithstanding such registration, provided, that if upon registration of any such bond, or at any Lune thereafter while registered in the name of the owner, the u_nmatured coupons attached evidencing interest to be thereafter paid thereon shall be surrendered to said bond registrar a statement to the effect will be endorsed thereon and thereafter interest evidenced by such surrendered coupons will be paid by check or draft by said bond registrar at the times provided therein to the registered owner by mail to the address shown on the registration books. Each of the bonds when converted as aforesaid into a bond registered as to both principal and interest may be reconverted into a coupon bond at the written request of the registered owner and upon presentation at the office of said bond registrar. Upon such reconversion the coupons re- presenting the interest to become due thereafter to the date of maturity will be attached to the bond and a statement will be endorsed thereon by said bond registrar in the registration blank on the back of the bond whether it is then registered as to principal or payable to bearer. No charge shall be made to any bondholder for the privilege of registration and transfer hereinabove granted, but any bondholder requesting any such registration or transfer shall pay any tax or other governmental charge required to be paid with, respect thereto. As to any bond registered as to principal, the person in whose name the same shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes and payment of or on account of the p-incipal of any such