cago River, and the 8-story warehouse, administration
offices and retail store occupied by Montgomery Ward &
Co., who have contracted to buy the building and pay there-
for in 50 semi-annual payments which coincide with the
interest and sinking fund requirements on these bonds.
This in effect makes the Montgomery Ward & Co. a guar-
antor of these bonds.
The earnings and rating of Montgomery Ward & Co.
are reported in all statistical manuals. Their 1928 gross
sales were $232.000.000.
Chicago Evening Post Building
(Chicago)
First Mortgage Leasehold 6% 1947 Sinking Fund Bonds
Amount: $1,800,000.
Dated: July 1, 1927.
Maturity: July 1, 1947.
Interest: January and July 1st.
Denominations: $1,000, $500 and $100.
Taxes: 2% Federal—Penn., Mass., Mich.
Redemption: 103 to July, 1932; then 102 to July, 1937; there-
after 101.
Trustee: Central Trust Company of Illinois, Chicago.
Appraised: Farnham-Kuhn Company and Paschen Bros. at
$3,049,333.
Security: Leasehold estate in land at the southeast corner of
Wacker Drive and Fork Avenue, three-street frontage, 60x
150x60—and the 19-story office building, which also houses
the printing equipment and newspaper plant of the Chicago
Evening Post. The lease is a 99-yr. term, and the average
rental during the bond-term is $31,750.
Earnings: Property leased for 25 years to Chicago Evening
Post Company, at a net rental of $216,000—which is twice
the maximum interest charges, and 1.44 times interest plus
amortization, Beginning July 31, 1931. $150.000 per annum
of principal is amortized.
Chicago Evening Post has been in the business of publish-
ing an evening newspaper in Chicago since 1890, and its
standing is so well known no comment is made.
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