Full text: Thomson's manual of Pacific Northwest finance

PUBLIC UTILITI: 
ment date prior thereto, at 106 and in- 
terest, and thereafter at 106 and inter- 
est, less 1% 9% for each expired six 
months between Aug. 1, 1931, and Aug. 
I. 1943. 
Sinking Fund: Commencing June 10, 
1931, and yearly thereafter, the com- 
pany will pay to the Trustee, as and 
for a sinking fund, not less than 50% 
of its annual net earnings remaining 
after payment of bond interest, to pro- 
vide for the retirement of outstanding 
bonds of this issue. It is estimated 
that this fund will be sufficient to re- 
tire a substantial portion of the en- 
tire outstanding issue of bonds before 
their maturity. 
Tax Statux: Normal Federal income 
ax to 29% paid and California personal 
property tax paid up to 6 mills. 
Secured by: An absolute first mort- 
gage lien upon all the physical prop- 
arties now owned or hereafter acquired 
hy the company, including Federal 
rower permits, rights of way, contracts 
ind other tangible assets, valued in 
axcess of $600,000. 
Legal Opinion by: Messrs. Orrick, 
Palmer & Dahlquist, San Francisco. 
Offered by: Russell-Colvin & Co., 
San Francisco, Oct., 1928, at 100. 
BREMERTON BRIDGE COMPANY 
GENERAL OFFICE: Burke Bldg. Seattle, Wash. 
HISTORY: Incorporated under laws of Washington, Feb. 5, 1929. 
BUSINESS: Operators of toll bridge across Port Washington Narrows, an arm 
of Puget Sound, connecting city of Bremerton, Wash, and East Bremerton, af- 
fording direct traffic between Puget Sound Navy Yard, at Bremerton, and U. S. 
torpedo station at Keyport, Wash. Opened for traffic June 15, 1930. 
PROPERTY: Steel span on concrete piers, with timber approaches, 1,600 feet 
long, with 80 feet clearance, costing approximately $525,000. 
FRANCHISE: Construction authorized by Act of Congress June 14, 1926, and 
franchise granted by city of Bremerton, running 50 years from Oct. 1, 1926. 
MANAGEMENT: C. E. B. Oldham, Pres.; Chas. P. Kimball, Vice Pres., both of 
Bremerton, Wash.; Dwight D. Hartman, Secy.-Treas., Seattle, Wash. 
DIRECTORS: The above, together with Wm. Abbott and L. A. Bender, Bremer- 
ton, Wash., and Paul C. Harper, Seattle, Wash. 
GENERAL COUNSEL: Hartman & Hartman, Seattle, Wash, 
Fiscal Year Ends: Dec. 31. Annual Meeting: I.ast Tues. in Feb. 
CAPITALIZATION, As of May 1, 1930 
Par Value Authorized 
I. 7% Cum. Pref. StocKk....oceeevvueeeececcee.. $100 275,000 shs 
2. Common Stock .......No Par 6.000 shs 
le. 7% CUMULATIVE PREFERRED STOCK 
Provisions: Has preference as to Voting Power: Non-voting. 
cumulative dividends and as to assets in Dividends: Paid semi-annually. 
dissolution up to $100 per share. Transfer Agent and Registrar: The 
Callable: At 102 on 30 davs' notice. companv 
I'TNDED DEBT, As ¢* 
i. First Mortg. Sink. Fund Rate Dated 
Gold Bonds o.oo. T% 9-1-29 
2. Sinking Fund Debentures... 79 10-1-929 
Outstanding 
$200,000 
3 36,000 
i. FIRST MORTGAGE 7% SINKING FUND GOLD BONDS 
Interest Payable: Mar. and Sept. 1, eral income tax and upon application 
by trustee. will reimburse holder for state tax not 
Trustee: Pacific National Bank, Se- exceeding 4 mills. 
attie, Wash. Security: First closed mortgage on 
Denominations: $1,000, $500. 111 assets. 
Callable: As whole or in part on any Warrants: Each bond carries war- 
interest date, on 30 days’ notice at 105, ‘ant entitling holder to purchase prior 
after 5 years, at 103 within 10 years 0 Sept. 1, 1934, one share Common 
and at 101 after 10 years. stock for each $500 bond. at 310.00 per 
Sinking Fund: Beginning July, 1934, share. 
company agrees to create annual sink- Legal Opinion by: Kerr, McCord & 
ing fund sufficient to retire 709% of is- Ivey, Seattle, Wash. 
sue at maturity. No dividends to be Offered by: Wm. P. Harper & Sons, 
paid on stock until sinking fund re- Seattle, Wash., Sept., 1929, at par with 
serve is set up. 1 share Common stock as honus with 
Tax Status: Company pavs 29 Fed- rach £500 bond 
y -, 1930 
ve iuthorized 
$200,000 
$ 75.000 
2. 7% SINKING FUND GOLD DEBENTURES 
Interest Payable: Apr. and Oct. 1, at fore any dividends paid on Common or 
Pacific National Bank, Seattle, Wash. Preferred stock, company agrees to set 
Denominations: $1,000 and $500. up sinking fund on or before Sept. 31 
wi oat rion Sine TUES, AE 168 of each year as follows: First year 
within 6 years; 101 within 10 years. *1 200, 2nd Se yee) or yearn $7.8001 
Sinking Fund: After requirements 2,” ar, S0U; Nex years. $6. 
on First Mortgage Bonds have been ach. 
met and operating expenses paid. be- Security: Junior to first morteage.
	        
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