Redemption: For sinking fund at 105—as a whole, 103 to 1930-— 
102 to 1935—101 thereafter. 
Trustee: Chatham Phenix National Bank and Trust Company. 
Appraised: 
W. Albert Pease, Jr., William Kennelly, Inc. 
and S. Osgood Pell & Co.vvvvvvevennnnn. 
Prior Lien, 20-yr. 1st Mortgage to N. Y. Life, 
516% first ten years, 5% balance.......... 
$11,400,000 
4,700,000 
$6,700,000 
Equity ............ 
Assessed 1930: 
Land .......covvinnivnnnn.. $3,500,000 
Land and Building........ veee. 1,500,000 
Security: Equity as above, in entire block front on west side 
of Madison Avenue between 35th and 36th Streets, Man- 
hattan, area 41,000 sq. ft. and the 25-story building, of 
8,000,000 cubic ft, with 596,090 sq. ft. of rentable area, 
completed March 1, 1926—present occupancy 98%—Marshall 
Field & Company has a lease for space for 21 years, and 
Stehli Silks Corporation for 20 years—these two leases re- 
turning interest charges on the first mortgage, leaving the 
rentals from the balance (80%) applicable to these bonds. 
Earnings: 
Total net......... 
Interest 1st Mtge... 
1927 
$549,516.06 
269 500.00 
1928 
$682,434.96 
264.000.00 
1929 
$609,806 
258’ E00 
Available for above 
issue ........... 
Requirements for 
7a 1940 
280,016.06 
418,434.96 
432.306 
116,536.00 
111.664.00 
109.515 
Times interest 
earned ......... 2.40 3.75 
Range:. .Jan. to May, 1930—High, 94: low, 94. 
2 Q 
The Stratford 
(New York City) 
First Mortgage 6% Participating Certificates 
Amount: $600,000; matured, $15,000; outstanding, $585,000. 
Dated: April 1, 1928. 
25