57th Street and Madison Avenue Office Building 
(New York City) 
Leasehold Mortgage Serial 6% Gold Bonds 
Amount: $1,250,000; outstanding 1-26-30, $1,122.500. 
Date: January 30, 1925. 
Maturity: 1926-1940. 
Interest: January and July 26th. 
Denominations: $1,000, $500 and in 1940 maturity $100. 
Taxes: 2% Federal—Penn., Conn., Maryland, Dist. Columbia, 
Virginia, Mass. and New Hampshire. 
Redemption: To 1930 at 4%—then at 103 to 1935—thereafter at 
102. 
Irustee: Nicholas Roberts. 
Appraised: Douglas L. Elliman & Company, $2,000,000. 
Prior Lien of $70,000 on small parcel of the land under the 
mortgage. 
Assessed: 1930, Land, $1,125,000; Land and Building, $2,125,000. 
Security: Leasehold estate in 6,600 sq. ft. of land at the south- 
west corner of 57th Street and Madison Avenue, New York 
City, and the 20-story office building erected thereon. 
Note: The Obligor of these bonds, 578 Madison Avenue Cor- 
poration, is a wholly owned subsidiary of the Fred T. Ley 
Interests. 
Earnings: 
1928 ...... 
1929 ....... 
1920 
Net 
available for Interest 
interest, etc. Charges 
$99,400 $75,000 
101,895 72,600 
123.068 70.050 
Times 
Earned Amortization 
1.32 $40,000 
1.41 42 500 
1.75 45.000 
Westinghouse Building 
(New York City) 
First Mortgage Fee and Leasehold Serial 6% Bonds 
Amount: $4,500,000; outstanding April 1, 1930, $3,865,500. 
Date: February 27, 1923. 
Maturity: 1926-1939. 
Interest: April and October 1st. 
Denominations: $1,000, $500 and in 1939 maturity $100. 
Taxes: 29% Federal 
(3+,