THOMSON'S MANUAL 
1. CONVERTIBLE CUMULATIVE $6 DIVIDEND PREFERENCE STOCK 
Provisions: Preferred over other Voting Power: Has full voting 
classes as to $6 cumulative annual di- power. 
vidends and as to assets to $1 per ae . . ; _ 
share in involuntary liquidation and t DEvidenas: S20 De anhuip. paid quar 
5120 in voluntary dissolution. Not en- erly, Mar, June, Sept, Dec. 1, since 
titled to stock dividends or subscrip- Dec. 1, 1925. 
tion rights. . Transfer Agent: Company office, San 
Callable: 3 years fom issue date, Francisco. 
sn 40 days’ notice at 120. 3 . " : : 
Convertible: Into Common stock at No Rigas The Bank of California, 
rate 2% shares Common for one Pre- . 4A., San Xrancisco. 
ferred any time prior to 10 days be- 
fore redemption. 
2. $6 DIVIDEND CONVERTIBLE PREFERENCE STOCK, Series A & B 
Provisions: Takes preference after Additional Issues: Additional stock 
Jonvertible Preferred, over Common, may be issued provided net earnings 
1s to $6 cumulative dividends and $100 for 12 of preceding 18 months equal 
'n event of liquidation. Not entitled to 21, times dividend requirements on all 
stock dividends or subscription rights. >utstanding and additional issue con- 
Callable: 3 years after issuance, on emplated. 
any dividend date at 102%. Transfer Agent: National City Bank, 
Convertible: Into Common stock, New York, and company offices, San 
prior to Dec. 31, 1933, one share for 3 Trancisco. . 
of Common, any time prior to 10 days Registrar: Wells Fargo Bank and 
before redemption date. Union Trust Co., San Francisco; Guar- 
Voting bdo A except When 3 anty Trust Co., New York. 
quarterly dividends in arrears, when i 2 . . . 
votes on parity with Convertible Cum- Legal Opinion Dus Plisbury, Madi- 
aigtive, Belg De Er Shares each 
ax § Se - : * ’ i 
ne aus; Company pays 2% nor series A and B by Blyth & Co. Blair 
Dividends: $6 per annum paid quar- & Co., J. Barth Co., Jan, 1927, at 95. 
terly Mar., June. Sept., Dec. 1. since Price Range: 1929—Series A, high, 
Dec. 1. 1928. 96: low. 80: Series B, high, 95; low, 781%. 
3. COMMON STOCK 
Voting Trust: Under agreement $2.00 per share. Sept. 1, 1928, 5% % 
dated Aug. 31, 1928, majority of Com- Common stock dividend and 20% Pref- 
mon stockholders placed stock in trust, erence stock. From Oct. 15, 1928, $1 
expiring Aug. 31, 1938, or sooner, on per share annually. 
filing with voting trustee (Bank of Transfer Agent: The Bank of Cali- 
California) written requests from % fornia, N. A., San Francisco; Bankers 
nf voting trust certificates. Trust Co., New York. 
Voting Power: Full voting power, Registrar: Anglo California Trust 
axcept when Preferred dividends in ar- Zo., San Francisco; Chase National 
rears. See Preference stock. Bank, New York. 
Dividends: (Paid quarterly Jan. 15, Listed on: New York and San Fran- 
etc.) Jan. 1, 1925, to Apr. 30, 1927, $1.50 cisco Stock Exchanges. 
per share annually; until June 30, 1928, 
COMPARATIVE INCOME STATEMENT 
9 Mo. Ending 
Jan. 31, 1930 
$9,841,416 
a 101.777 
.,.39 
{375.504 
NEL INCOME ooooeeeceeeeeesunessrnnsanssmns semen comomssmnsnenisans me wes semeemsest 
Preferred Dividends oor cameron nasser anaes 
Common Dividends .ooeeooeeeaen mates 
1,661,823 
1,236,464 
17804281 
5 1,531,078 
1.567 
23.41 
179 
~ 
35 
J ..02 
18.79 
1.28 
Surplus for the year nena 
Earned per share Convertible stock... 
Earned per share Preference A & B.............. 
farned ner chare Common stock... iiieeenes 
COMPARATIVE CONSOLIDATED BALANCE SHEET, As of 
ASSET= Dec. 31, 1929 Apr. 30, 1929 
DARN essimisnass © 1,531,678 $ 1,910,061 
UU. 8, BONAS .ooerrvnvnnnn os saivssssismsnnsnns 199,735 588,414 
Accounts Receivahia 3,467,11: 6,812,065 
inventnariec 11 202 N29 11 N42 959 
22,001,559 
35,900,4" 
5,787,114 
5,853,600 
3,409,457 
nga 299 
Co ....%113.989.596 
Total Curre:. ema = 
Timber Lands .. ih esR REAR AE SARs rane EEA SEEREE ~. 
Plants, €UC. ciieooeiicciie coioireeeeeoeee ome em cee memes ane 
Investments (Fibreboard) oie eee 
ther INVesStMeNntS ooeieioeeen iceman emmm ere omec nn anasan 
Deferred CRArgeS .oiiiiiiiieciisrrmcererm seein nese nan 
TOTATI, ASSETS 
20,354,492 
35,412,800 
13,930,968 
5,853,600 
2,686,683 
1.052.024 
2109 190.568