Prudence-Bonds Corporation
Prudence First Mortgage Guaranteed 5%% Participating
Certificates

Legal for trust funds in the state of New York.
These certificates are issued by Prudence-Bonds Corporation
and evidence the participation or ownership in bonds and
mortgages constituting first liens against specific parcels of
real estate, the owner being entitled (1) to his share in
the mortgage lien on the particular property, and (2) to
the guaranty of the principal and interest of the certificate
by The Prudence Company, Inc. The Prudence Company,
Inc., incorporated in New York in 1919, operates, under the
supervision of the New York Banking Department, the
business of financing real estate, purchasing first mortgages,
building loans, ete.
lieu of the earnings of the particular properties, the comparative
 balance sheet of the guarantor for 1927 and 1928
is given. Its 1929 capital and surplus are $17,181,775.

Assets:

Cash ..... . eran
Prudence Bonds, ctfs., etc....
Mortgages .........
Accrued interest..............
Marketable securities.........
Dther assets Ce

Liabilities:
Preferred stock
Common stock
Bonded debt ...............
Interim certificates, ete.......
Due bank ................
Unpresented coupons.......
Accounts payable....
Tax reserve .......-. ..oves.
Advance payments ..........
Reserve for interest..........
Surplus .

1928
$3,887,238
9,011,787
20,858,946
2,892,919
2,613,527
2.445.239

$41,709,656

5,000,000
5,000,000
14,600,000
1,675,150
4,000,000
144,488
140,356
TAT
2,284,612
1,807,238"
6.3007

$41,709,656

1927
$10,677,586
2,662,022
17,549,145
2,073,338
2,332,491
691.962

$35,986,544

5,000,000
5,000,000
14,800,000
2399 566

352,336
301,725
650,313
1,165,017
1,369,033
5.025.554

$35,986,544

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