of 21,218 square feet, and a theatre with 3,600-seat capacity
erected thereon. Lease extends to 1958; ground rental,
$52,000. Property faces Union Square, is served by a crosstown
 subway, and is well situated.
Earnings: Leased to Fox Theatres Corporation for term extending
 beyond term of bonds, at an annual rental of more
than sufficient to cover annual interest and principal charges
under mortgage.
1929 Net available for interest, ete.......... $130,381
Interest on $1.001.000 616S.....c0vevennes 65,065

Times earned .....- 2.
AmOTtization ...eve seeeeriniraneaenaes $54,500
Guarantee: Guaranteed as to principal and interest by the
Rankers Bond & Mortgage Co.

Wellston Apartments
(New York City)
First Mortgage 6% Serial Bonds
Amount: $1,650,000; outstanding, $1,554,000.
Dated: September 25, 1924.
Maturities: September 25, 1927 to 1936.
Interest: March and September 25th.
Denominations: $1,000 and $500.
Taxes: 2% Federal--Penn., Conn., Maryland, Mass.
Redemption: 102.
Trustee: Nicholas Roberts.

Appraised: $2,478,270.
Security: Fee estate in (1) plot at the northeast corner of
Amsterdam Avenue and 75th Street 102.2x120,—and (2)
plot 59 feet frontage on the south side of 76th Street (61
feet east of Amsterdam) extending back a depth of 102.2—
a total area of 18,288 square feet. Each plot is improved
with a 15-story apartment building, operated as a unit.
Earnings:

Year
1926
1927
1928 .
1929

Net income
for Interest
$328,818.20
338,843.91
323,393.99
217.090.27

Interest
charges
$99,000
08.6210
~14ue
~40

Times
earneq
3.32
3.43
3.32
3.34

Amortized
3 6,166.67
24,833.33
38,333.33
40,833.33

8