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The Wilmington Morning Star
Wilmington, New Hanover County, North Carolina
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A Senate-House conference committee agrees on a bill providing $2.4 billion in non-negotiable five-year bonds to servicemen and veterans for untaken furlough time since September 1942, usable for government life insurance payments, with grants at 2.5 days' pay per month of service and a 60-day carryover limit.
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WASHINGTON, July 30.-(AP)-A "bottled-in-bonds terminal pay bill for servicemen and veterans was agreed upon Tuesday by a Senate House Conference committee.
The five-year bonds in which the major portion of the payments would be made are non-negotiable, but the committee which worked out the final form of the bill provided that they could be used for payments on government life insurance.
An estimated $2,400,000,000 would be paid to present and former service personnel in lieu of furlough time they were unable to take during service. Grants would be made on the basis of 2 1-2 days pay for each month of service since September 1, 1942. The carryover limit would drop to 60 days.
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Location
Washington
Event Date
Tuesday, July 30
Story Details
Senate-House conference committee agrees on bottled-in-bonds bill providing non-negotiable five-year bonds worth $2.4 billion to servicemen and veterans for untaken furlough time since September 1, 1942, at 2.5 days' pay per month, usable for government life insurance, with 60-day carryover limit.