INDUSTRIAL
0G
$60,000; 1938, $66,000; 1939, $72,000; 1940, assets in ratio of 150% of current lia-
£78,000; 1941, $84,000; 1942, $90,000; bilities, and total net assets of not less
1943, $112,000. than 200% of all liabilities, including
Tax Status: Company pays normal -hese debentures. Guaranteed as to in-
20, Federal income tax, and refunds terest and principal by Arden Sanitary
Calif. 4 mills. Gold Seal Farms.
Security: Direct obligation of com- Offered by: Merchants National Co,
pany, but not secured by a mortgage. Banks, Huntley & Co. and California
Company must maintain net current Co., Los Angeles, Nov., 1928, at 99.
4, CALIFORNIA CO-OPERATIVE CREAMERY CO. FIRST MORTGAGE
6% SINKING FUND GOLD BONDS
Interest Payable: Apr. and Oct. 1, at Tax Status: Company pays normal
trustee's office. 29% Federal income tax and Calif. 4
Trustee: Bank of America of Cali- mills personal property tax.
‘ornia, Los Angeles.
Registerable: As to principal.
Denominations: Coupon, $1,000, $500.
Callable: At any interest date, on
35 days’ notice, at 102% and interest.
Sinking Fund: Payable Jan. 1, for
vear ending Oct. 1 of same year; 1929-
31, $12,000; 1932-33, $18,000; 1934-43,
$24.000: 1944-47, $42.000: 1948. $60,000.
Necurity: First mortgage on all the
lands, buildings and fixed equipment
now owned or hereafter acquired.
Fuaranteed as to interest and principal
by Arden Sanitary Gold Seal Farms,
[nc.
Offered by: California Co., Merchants
National Co., and Banks, Huntley &
Jo., L.os Angeles, Dec., 1928, at 100.
°
WESTERN FUEL CORPORATION OF CANADA
GENERAL OFFICE: Belmont House, Victoria, B. C.
CONTROL: By The Canadian Collieries (Dunsmuir), Limited.
HISTORY: Incorporated under laws of British Columbia, 1923, as successor to a
corporation of the same name incorporated in 1921.
BUSINESS: Mining and selling coal for steam and domestic purposes.
PROPERTY: The properties of the company consist of 43,483 acres of timber
and coal-bearing land at Nanaimo on Vancouver Island. Corporation owns in
fee 150,000,000 board feet of timber, mostly fir, and its own water system, con-
sisting of four reservoirs with a capacity of over 90,000,000 gallons and 10 miles
of pipe line. The equipment consists of bunkering facilities and coal-loading
machinery of a capacity of 5,000 tons per day, storage bunkers and railroad car
capacity of approximately 12,000 tons and open storage for small sizes of coal
of about 50,000 tons. The corporation also owns its own railway, and equip-
ment consisting of five standard gauge locomotives, 156 gondola cars, 13 large
flat cars, 1 box car, 1 wrecking car (each of 20 tons capacity), 254 five-ton coal
cars, 22 five-ton flat cars, 5 five-ton ash cars, § five-ton rock cars, 17 eight-ton
rock cars, 2 passenger coaches, 1 ambulance, and 21 tank cars.
Tons of coal sold: 1927, 452,955; 1926, 455,820; 1925, 452,700.
OFFICERS: F. Perry, Pres.; C. W. Villiers, Vice Pres.
GENERAL AUDITORS: Price, Waterhouse & Co., Ltd.
FUNDED DEBT, As of Dec. 31, 1929
First Mortgage Sinking Rate Dated Due Authorized Outstanding
Fund Gold Bonds .__. ee 7% 11-15-28 11-15-40 $2.000.000 $1,798,000
interest Payable: Semi-annually,
May 15 and Nov. 15, at Anglo-Califor-
nia Trust Co., San Francisco.
Trustee: Montreal Trust Co.
Registrar: Anglo-California
“o0., San Francisco.
Denominations: $1,000 and $500 (cou-
pon bonds).
Callable: As a whole at 102% up to
and including Nov. 15, 1933; thereafter
callable price reduced % 9% per annum
up to and including Nov. 15, 1936;
thereafter callable orior to maturitv
at 100%.
Sinking Fund: 25 cents per ton of
all coal mined and sold and $2.00 per
thousand feet of all timber cut and sold
after July 1, 1928, to purchase bonds
in the market un to the call orice or
to redeem bonds, if not obtainable in
the market below the current redemp-
tion price. Estimated that sinking
fund will retire 709% of bonds by ma-
turity.
Tax Status: Company pays normal
Federal income tax up to 2%.
Security: First closed mortgage on
all property now owned or hereafter
acquired.
Legnl Opinion by: Messrs. McKins-
try, Haber & Firebaugh of San Fran-
cisco. and Harold B. Robertson. Van-
couver.
Purpose: Issued to refund first
mortgage 8% bonds due 1931.
Offered by: Anglo London, Paris Co.
and Schwabacher & Co.. San Francisco.
Nov. 1928 at 100
