38
THOMSON'S MANUAL
In 1925, company purchased from Puget Mill Co. approximately 60,000 acres
of timber land tributary to Puget Sound; 20,000 acres tributary to Columbia
River, and two saw mills located at Port Gamble and Port Ludlow, Wash. re-
spectively.
BUSINESS: Company operates logging camps, saw mills, lumber terminals, dis-
tributing yards, also steamships in the Pacific. both coastwise trade and inter-
roastal trade. .
PROPERTY: Company owns.two saw mills at St. Helens, Ore. on Columbia
River; two saw. mills on Puget Sound, at Port Gamble and Ludlow, respectively;
.umber terminals at San Francisco, San Pedro and San Diego, California; dis-
:ributing yards in various California inland cities. Company owns and operates
’ coast-wise lumber steamers and 9 in the inter-coastal trade.
OFFICERS: Chas. R. McCormick, Pres.; 8S. M. Hauptman, Vice-Pres.; E. H.
Meyer, Vice-Pres.; C. E. Helms, Vice-Pres.; J. S. Brown, Sec. & Treas.
DIRECTORS: J. S. Brown, E. B. Degolia, 8. M. Hauptman, C. R. McCormick,
C. E. Helms, A. G. Harms, J. L. Deahl, C. L. Wheeler, G. A. Pope, Jr.,, R. E. Smith,
BE. H. Meyer.
GENERAL AUDITORS: Hood & Strong, San Francisco, Calif.
fiscal Year Ends: Dec. 31. Annual Meeting: 2nd Tuesday in April.
CAPITALIZATION, As of Dec. 31, 1929
Par Value Authorized Outstanding
No Par 50,000 Shs. 25,000 Shs.
No Par 130,000 Shs. 99,696 Shs.
PREFERRED STOCK: Takes prece- solders: 2. No dividends have been
dence as to dividends and as to assets paid.
in case of liquidation. Company acts COMMON STOCK: No. of Stockhold-
as own transfer agent. No. of Stock- ers: 387. No dividends have been paid.
BALANCE SHEET, As of Dec. 31, 1927
ASSETS LIABILITIES
Hong, Timber, ER pen B12. 751, 550 Capital and Surplus... .
lants & Equip. After Dep... 7,003,1 bt oo.
Vessels, After Dep. TT 7490919 onaed, Bens :
Investments .eeeveevveeer oe. ‘7,925 Notes Payable ..ocovnnnen ene
[nvestment in Affiliated Cn "5,402 Accounts Payable ..........
Notes Receivable ___..... 621 REeSOeTVeS .........
Accounts Receivable .. 3
TIBI .cnvibummnni RRR 0
Life Insurance Cash Value. »
Inventories ....oooooioiiiiiiiiin.
Jue from Afiliated Cos..........
Deferred Charges .................... 4
Total Assets ...occccoceen......$28.561.304
FUNDED DEBT, As of Dec. 31, 1929
Rate Dated Due Authorized
{. 1st S. F. Gold Bonds Series A...... 69% 11-1-26 11-1-41 $6,000,000
2. 1st S. F. Gold Bonds Series B...... 6% 11-1-27 11-1-41 $ 600,000
}. Second Mortgage Bonds... 4%% 11-1-26 1927-40 3$13.167,963
t- FIRST SINKING FUND 6% GOLD BONDS, SERIES A & RB.
Interest Payable: M&N 1 at Equit- Tax Status: Company pays 29% nor-
able Trust Co., Portland, Ore.; Harris mal Federal income tax.
Trust & Savings Bank, Chicago; Bank security: First mortgage on all com-
af California, N. A.,, San Francisco. panies’ timber one phe Ihysicel prop.
» i - erties appraise at $14, . ran a
arPrustee: Equitable Trust Co., Port first preferred ship mortgage on all
Callable: On any interest date on 30 companies’ ships and vessels. Addition.
jays’ notice at 103, to Nov. 1, 1931, at al bonds may be issued provided total
102. to Nov. 1 1936. and at 101 prior sonds to be outstanding do not exceed
‘0 Nov. 1. 1941. ~~" 32.60 per 1000 ft. of merchantable tim-
ee . per then subject to lien of mortgage.
Sinking Fund: Bi-monthly of $1.50 Offered by: Minnesota Loan & Trust
oer M timber logged preceding 60 days (o., Minneapolis; Lumbermans Trust
0 purchase call bonds. Sinking fund (o, Portland; Harris Forbes & Co., New
to be increased proportionately. York, and Lacey Securities Corp., Chi-
Additional Bonds Issued: Dividends cago. Feb. 1927, at 100.
may not be paid on common stock, un- Price Range: 1930—High, 96: Low.
lees a like amount into sinking fund. Rid: 1929—High. 100: Low. 94
2. SECOND MORTGAGE BONDS.
Interest Payable: Only on serial ma- Principal Payable: Oct. 15, 1927,
urities. Accrued interest from date of $300,000; Oct. 15, 1928-1939, $500,000
ssue added to total amount of un- each: Oct. 15, 1940. $6.876.962. plus ac-
matiitred mortgage rrued interest
