1926
1927
1928
1929
Net
$376,449
563,179
Ti3
..T4
As the maximum interest on this issue is $96,000—the
$168,000 in effect guaranteed by the lessee, is more than
ample to meet all interest and amortization under these
bonds, and the stability of the lessee gives the bonds a
good investment position.
Savoy-Plaza
(New York City)
10-Year 5%% 1938 Sinking Fund Debentures.
Amount: $7,000,000.
Dated: February 1, 1928.
Maturity: February 1, 1938.
Interest: February 1 and August 1.
Denominations: $1,000 and $500.
Taxes: 2% Federal—Penn., Calif, Maryland, Mass.
Redemption: 10215 to 1932, thereafter 14% less for each suc-
ceeding year.
Trustee; National City Bank.
Capitalization:
First Mortgage Fee and Leasehold 20-year 6s
Dec. 1, 1945... cv veveiininnnnnrenen.....$10,500,000
Realty Extension First Mortgage 5% Gold
Loan due 12-1-45................. even... 4,000,000
Ten-year 5%%% 1938 Sinking Fund Deben-
tures (this issue)......................... 17,000,000
Property: The Obligor owns the land, fee and leasehold, 55,000
square feet, on the east side of Fifth Avenue, between 58th
and 59th Streets, New York City, (1) plot fronting on the
Avenue 200x150x150 being improved with a 29-story hotel
and (2) the contiguous plot in rear, running parallel to the
main plot 125x125x200, from 58th to 59th Streets (through
center of block) being improved with a 6-story addition to
the main building.
Security: The Savoy-Plaza Corporation, owner of the proper-
ties and obligor on these debentures, is a subsidiary of
United States Realty and Improvement Company. This
latter company, and the Childs Company (corporate owners
2()