140 
THOMSON’S MANUAL 
COMPARATIVE INCOME STATEMENT, Years Ending Dec. 31 
1929 1928 
412,476 208,319 
215,677 332.314 
.€,790 
IR. 015 
1927 
 -15,729 
214.289 
230,018 
21.682 
-308,336 
226,827 
«525 1682 
Gross Revenue ................... 
Operating Expense .......ccccooeeee. 
Net Operating Result... 
Other Income ....... 
TOTAL INCOME .iiiiiccecieiee en 
Interest, Amortization, etc. 
NET DEFICIT eeeieeeeeeaemeeeacmeeneee 
— Deficit. 
5a G98 
COMPARATIVE CONSOLIDATED BALANCE SHEET, As of Dec. 31 
Assets— ‘929 1928 
ABUL. oe mesensnsvareoromsnrunnnmsnrsmnemony sans s dissin RE stem utnnl 74,815 96,378 
Accts. & Notes Receivable.iiccceceee. (9,842 282,228 
inventories .... eeeereeanaemeneamnmnnes 901.018 142,829 
Total CUrrent ASSetS.............os 1,155,675 135 
Deposits, Trust Indent. oie 343 145 
[Insurance Deposits .. RRR RAE 18,148 6,393 
Damage Claims oeeremrernrees ees 36,051 6,608 
Due from Affiliated Co.s ............... eee 117,965 7,742 
Association Memberships .........ocot ciieiiain 1,101 1,102 
Timber Lands and Rights.......occooiiiieecceeeeee 9,577,919 5,904,343 
Logging Equip. etc... eeeeamemeaeeesneennneenee 1,496,773 +,540,745 
Bond DiSCOUNT meee imeem eee een 95,439 116,993 
Prepaid Ins. Supplies. ete. ieee 83.892 212,681 
TOTAL ASSETS ...... ee eeee-$8.883.3086 $9.272,191 
LIABILITIES AND CAPITAT.— 
Accts. & Notes Payable.......... 
Accrued Payrolls 
Accrued Interest ooo 
Accrued Taxes .. _ 
1927 
5 85,996 
259,555 
1.065.538 
© 111,089 
3,273 
1.254 
1102 
5,377,553 
1,662,805 
139,325 
280,207 
20 886.609 
89,335 
22,727 
32,350 
10.291 
Total Current Liabilities _......... .. 254 704 
Rail Purchase Contracts... 0,375 
Funded Debt .oooeereiceciiiiiiieen _,124,800 
Reserve, ele. ...csmsssgmmminessoonss r——- 13,187 
7% Preferred Stock... ..  2€0,000 
TOMIMON SOCK anneeeeeceeeeeeeeeaeerimmeanmeenanneneeeee a DTT ARQ 
Jurplus & Appreciation ....cocceeeveereecacceen. 3.549 789 
TOTAL LIABILITIES eee. $8 8R3.304 
160,710 
23,224 
41,726 
144.013 
© 369,673 
24,217 
2,666,600 
51,950 
1,360,000 
1,677,450 
3.836.819 
2G RKRAH.609 
99,796 
10,417 
£08,100 
41,709 
50,000 
517,450 
2,674,718 
0 272 191 
FUNDED DEBT, As of Dec. 31, 1929 
First Mortgage 6% Sinking Rate Dated Due Authorized Outstanding 
Fund Gold Bonds... ..oooceeeeeceeeenceee. 6% 4-1-27  4-1-42 $2.750.000 $2,124,800 
Interest Payable: Apr. and Oct. 1 at sinking fund amount sufficient to make 
vffice of A. G. Becker & Co., Chicago. total pavment equal requirement on 
Trustee and Registrar: Continental 100.000 000 feet a year. 
fllinois Bank & Trust Co. Chicago. Tax Status: 29% Federal income tax 
Registerable: As to principal. pata by company. | Bn. and G20, 2 
i i . mills, Minn. 3 mills, vy. 5 mills, . 
Denominations: $1,000, $500, $100. 11, mills refunded within 0 days after 
Callable: As a whole on any inter- payment. 
est date on 60 days’ notice at 105 and Security: First mortgage on all 
hitguest, ang 2 part for sinking fund fixed properties of the BE pany in- 
at ve an mn erest. . zluding logging equipment and 23,016 
Ang 22000 iaieny afiop acres of land estimated to contain 2,- 
’ ’ ’ ’ 7,000,000 f ‘chantahle tim- 
150,000,000 feet of timber shall have 2en.0004 feet of werchantehic sn 
been cut, whichever shall be earlier, Lezal Opinion by: Arthur B. Schaf- 
31.28 oor thousand Bet a fer Chicago for {he bankers; Massey 
cu rom mo fo} A eb, ’ 3 el By a 
thereafter $2.50 per thousand feet until dlolmes, Kansas City. Mo.. for the com- 
a total of 1,000,000,000 feet shall have bany. 
peen cut, and thereafter $3.00 per thou- Offered by: A. G. Becker & Co., Hal- 
sand feet. In event amount of timber sey, Stuart & Co., Ames, Emerich & 
ut averages less than 100,000,000 feet Co. Baker, Fentress & Co.. Chicago. 
an vear Companv shall pav into the April 1. 1927. at 100.