Interest: June and December 1.
Denominations: $1,000, $500 and $100.
Redemption: 103 to June 1, 1930; 102 to June 1, 1935; 101
thereafter. For Sinking Fund at 105.
Taxes: 2% Federal—Pennsylvania and Connecticut 4 mills,
Massachusetts 6%. .
Trustee: Chatham Phenix National Bank & Trust Company.
Appraised:
Cost of producing building and equipment
appraised by Dwight P. Robinson & Co.,
Ing, af wissvemman sisipn. we Wolions §
Mortgaged property appraised by W. Albert
Pease, Jr, at .......
Assessed 1930:
Land ...e.vovnnn.. $2,400,000
Land and building ......... , cee. 5,350,000
Becurity: Park Lane Corporation owns the leasehold estate
which extends, with renewal privileges, to 1964, with a con-
ditional right to a further term of twenty-one years or to
have the building purchased by the Lessor, in the 30,000
square feet of ground extending the entire east side of the
block front on Park Avenue (200 feet) and Park Lane (a
private right-of-way) and 150 feet along 48th and 49th
Streets—also the 13-story high-type residential hotel com-
pleted in the fall of 1924. The fee is owned by the New
York Central interests, and is subject to a $2,000,000 mort-
gage, which is not the obligation of Park Lane Corpora-
tion, however, but of the New York Central interests.
Earning record: For nine months ending September 30, 1929—
GroSS TEVENUE ...cevvverennaennsananna.. $1,178183.61
Operating expenses including real estate
taxes. administrative expenses. etc. ...
790,635.67
Operating income ....
Rentals. ete. ..
© $387,547.94
175041 67
Available for interest, before depreci-
ation and Federal tax.............
Interest requirements on first mortgage
hous commnniiysven
Times interest is earned.
$215.506.27
80,792.82
9 Eq
Price Range: Januarv-May, 1930—88-8515.
D9)