Karnings: 1928 1929 
Net income available for interest, etc. $75,062.64 $75,062.64 
Interest charges .........coeeenees... 51,000.00 51,000.00 
Times earned 1.47 1.47 
Amortization 7,083.34 17,416.68 
Lincoln Hotel Properties 
(New York City) 
First Fee 6%% 1941 Sinking Fund 
Amount: $7,500,000; $1,500,000 outstanding—(Lincoln Hotel re- 
leased July 1, 1929 and $6,000,000 redeemed). 
Dated: July 1, 1926. 
Maturity: July 1, 1941. 
Interest: January and July 1st. 
Denominations: $1,000, $500 and $100. 
Taxes: 2% Federal—Kan., Minn., Calif, Conn., Penn, Vt., Md, 
D. of C, Ky., Mich., Va., Iowa, Mass. and New Hampshire. 
Redemption: For Sinking Fund 101—otherwise 103 to July 1, 
1931; then 102% to 1936; thereafter at 102, 
Trustee: Straus National Bank and Trust Company. 
Assessed: 1930, total land and buildings, $1,815,000. 
Security—Fee estates in three theatre buildings as follows: 
1—Majestic Theatre, 140 ft. frontage on West 44th Street 
between Broadway and 8th Avenue, 1717-seat capacity. 
2—Masque, 60 ft. frontage on West 45th Street, 789-seat 
capacity. 
3—Royale, 90-ft. frontage on West 45th Street, 1156-seat 
capacity, each theatre having a release privilege at a price 
fixed in the mortgage. All these theatres are now owned 
or controlled by the Shubert interests. 
Earnings: The Shubert Theatre Corporation is operated as a 
system, and the different theatres in the group are operated 
as best serves the ends of the system as a whole. There- 
fore, the earnings of any particular theatre is not a test of 
its earning capacity, but merely the use to which the 
system deems best to put it at any particular time. The 
operating profits of the Shubert system as reported in 
Moody's, averages over $2,300,000 per annum for the last 
six years, and its capital and surplus as of December 31, 
1928. is revorted as $11,237,469. 
TI