THOMSON'S MANUAL 
OWEN-OREGON LUMBER COMPANY 
GENERAL OFFICE: Medford, Ore. 
HISTORY: Incorporated under laws of Oregon, 1924. Organized to consolidate 
and operate timber land in Jackson County, Oregon, which the John S. Owen 
Company of Eau Claire, Wisc, had been selecting and assembling since 1913. 
BUSINESS: Owns about 1,100,000,000 feet of timber and operates a logging 
railroad, logging camps, sawmill with a capacity of 60.000.000 feet. planing mill, 
20 dry kilns, machine shops, etc. 
SUBSIDIARIES: Medford Logging Railroad Company. 
. FUNDED DEBT, As of Dec. 31, 1929 
First Mortgage Serial Rate Dated Matures Authorized Outstanding 
Sinking Fund Gold Bonds 5% % 11-16-25 1928-40 $3,500,000 $1,800,000 
Interest Payable: May and Nov. 16 interest payment date at par and ac- 
it First Iowa State Trust Co., Burling- crued interest. 
:on, Ia., or Continental Illinois Trust Sinking Fund: Payments to be made 
Yo., Chicago. is trustee as timber is cut to total $3,- 
Principal Payable: On Nov. 16, each 0,000. 
sear as follows: $100,000, 1928 to 1932, Tax Status: Company pays 2% Fed- 
nel; $150,000, 1933 to 1935; $200,000, eral income tax. 
936 to 1939; $250,000, 1940. Security: First mortgage on timber, 
. . land, railroad and mill properties. To- 
Trustee: Calvin Fentress, Chicago, tal value, $5,595,829. 
and First Iowa State Trust & Savings ’ AR 
> : : Other Details: Of $3,500,000 author- 
lank, Burlington, Ia. . 
. . ized, only $2,000,000 issued. Balance % 
Registerable: Coupon bonds regis- for any corporate purpose and 1% to 
erable as to principal. pay l% cost of additional timber. 
Denominations: $1,000, $500, $100. Offered by: Baker, Fentress & Co, 
Callable: On 30 davs' notice on anv Chicago. Nov.. 1925. 
PACIFIC SPRUCE CORPORATION 
GENERAL OFFICE: Toledo, Ore. 
HISTORY: Incorporated under laws of Delaware, Nov. 10, 1920, to purchase from 
the United States Spruce Production Corp. (a governmental agency). certain of its 
assets. Began operations in 1922. 
BUSINESS: Company said to be largest producer of spruce lumber in U.S. 
PROPERTY, PLANTS, EQUIPMENT, ETC.: Northern properties consist of 17,545 
acres, owned in fee and 872 acres of long timber rights, cruising 994,854,000 feet. 
Southern properties include 12,759 acres, cruising 701, 815,000 feet, all rights, 
title and interest held under contract of purchase with the TU. S. Spruce Produc- 
ion Corp. 
Company also owns 33% miles of standard gauge logging railroad and 
logging equipment sufficient for 5 complete camps. 
Plant located at Toledo, Oregon—annual capacity of 75.000,000 ft. running 
83-hour shift per day. 
SUBSIDIARIES: Company controls the Manary Logging Co. the Pacific Spruce 
Northern Ry. Co. and C. D. Johnson Co. (the last being a sales organization). 
MANAGEMENT: H. B. Hewes, Chr. Bd.; C. D. Johnson, Pres.; Dean Johnson, 
Vice-Pres. & Gen. Mgr.; E. E. Johnson, Sec.-Treas.: R. S. Trimbull, Asst. Sec.: 
J. F. Markham, Asst. Sec.-Treas. 
DIRECTORS: HH. B. Hewes and C. D. Johnson, Portland, Ore.; Nathan Paine, 
Dshkosh, Wis.; C. R. Lyon, Decatur, 11l.; Dean Johnson, E. J. Kock, E. E. Johnson. 
E. W. Paine, J. W. McWilliams, all of Portland, Ore. 
Fiseal Year Ends: Dec. 31. Annual Meeting: 2nd Wed. in June. 
CAPITALIZATION, As of Dec. 31, 1929 
Par Value Authorized Outstanding 
1. 7%Cumulative Preferred Stock... $100 $4,000,000 $3,019,400 
2. Common Stock .... ceeeeeee. No Par 1.000.000 Shs. 486.090 Shs. 
INCOME STATEMENT, Year Ending Dee, 21. 1029 
NOt SALES oomeoememeemeeooemoeamrresameensemeanmameanes somes 
Coste and Operating EXDENSes ..o..ccameecaeees 
....-$2,674,032 
aa, 2 RQ2 E28 
80,504 
29,995 
aR 773 
TOtAl TICOIMNE  cooieeeoeeeememaeomcmacamsonmmeas = immcossssmmmssssis  sxissssssooos eae $ 207.236 
ViSCE11ANEOUS TEXDEIISE ooooooooeoceicocaamomemaeoasamssirsas am ormomamsoosiasirassomsssoosainsisioas nesses 9.885 
CS ® 197.351 
Operating Income (lumber)... eens 
Miscellaneous Operating Income ieee 
Dther Income eam eee t= 
Neat Tnecome