.UMBER AND TIMBER COMPANIES 
GENERAL COUNSEL*+* McMicken, Ramsey & Rupp, Seattle, Wash. 
Number of Employes: 500. 
TAPITALIZATION, As of Mar. 1, 1930 
Par Value Authorized 
I. Cum. 7% Preferred Stock............... $100 $1.500,000 
2. Common Stock .. wren LAL 30,000 shs 
PREFERRED STOCK 
ter Horton Nat. Bank. 
Registrar: Metropolitan Nat. Bank, 
Seattle, Wash. 
Public Offering by: First Securities 
Co., Seattle, Wash., July, 1929, at par 
and bonus of 1 share Common stoclk. 
1. CUMULATIVE 7% 
Provisions: Takes preference over 
Common stock as to 79% cumulative 
dividends and as to assets in event of 
liquidation. 
Dividends: 7%, semiannually, Jan. 
and July 1. 
Transfer Agent: First Seattle Dex- 
BALANCE SHEET, As of March 1 
ASSETS 
22,814 
16.502 
600 
5.245 
0.050 
15,531 
25,869 
4.286 
06,890 
272.614 
1.250 
242,000 
501.250 
134,293 
*1,502,196 
FUNDED DERT, 
First Mortgage Sinking Rate 
Fund Convertible Gold Bonds....61% % 
Interest Payable: Jan. & July 1 by 
rrustee, 
Trustee and Registrar: First Seattle 
Nexter Horton National Bank. 
Registerable: As to principal only. 
Denominations: $1,000, $500. 
Callable: As whole or in part on any 
interest date, 3 vears after issue on 60 
lays’ notice at 103 up to and including 
Jan. 1, 1932, decreasing 4 9% each vear 
thereafter. 
Convertible: Up to July 1, 1934, 10 
shares 79% Cumulative Preferred and 
10 shares Common stock for each $1.000 
hond. at holder's ontion. 
Cash eeennns 
Accts. & Notes Rec. ...._ ce 
Jom. Stock Subscription...... ..._. 
Interest Accrued ......... 
Dividends Receivable _. 
[nventories .......... 
{fash with Trustee.. 
Deferred Charges . 
Real Estate .... 
Sawmill 
Office Furniture ...... Cl een 
Veneer Plant Construc.ion...... 
Stock Wash, Veneer Co. ........ 
Dther Assets .... 
TOTAL ASSETS _. 
Accounts Pavaw. 
Notes Payable .. 
Pref. Dividends ~ 
Accrued Payroll: 
‘ns. Payable _... 
Accrued Interest 
Funded Debt _... 
Preferred Stock ....... 
Common Stock ..... 
Deficit .... __. 
TOTAL LLIARILLITIES 
$3,821 
25,000 
28,919 
9.692 
512 
1.895 
30,000 
02,500 
600 
687 
1. 502 196 
x of Dec. 31, 1929 
Dated Due Authorized Outstanding 
7-1-29 7-1-44 $400,000 $400.000 
Sinking Fund: Commencing July 1, 
1932, company sets up sinking fund cal- 
ulated to retire 759% of issue by ma- 
urity, at rate of $12,500 each six 
months to purchase bonds in market or 
2y lot at call price. 
Tax Status: Company pays 2% nor- 
nal Federal income tax. 
Security: Closed first mortgage on 
all fixed assets. 
Legal Opinion by: McMicken, Ram- 
sey & Rupp, Seattle, Wash. 
Offered by: First Securities Co. in 
July, 1929. gat £99.50. 
BEAR CREEK LOGGING COMPANY 
GENERAL OFFICE: Portland, Ore. 
HISTORY: Incorporated under laws of Oregon, 1923. Began operations in July, 
1925. Capital stock owned 409% each by Daniel Kern and John Kiernan and 100 
cach by J. HL. Wood and H. H. Fisher. 
BUSINESS: Furnishes logs to the Portland and Columbia River mills. 
PROPERTY: Approximately: 3,400 acres of timber land in Oregon, 25 miles from 
Portland, originally containing 220,300,000 feet of timber. 
DFFICERS and DIRECTORS: John Kiernan. Pres.: Daniel Kern. J. H Wood 
H. H. Fisher, all of Portland. Ore. 
Fiscal Year Ends: Dec. 31. 
FUNDED DEBT, As of April 13. 1930 
Date 
First Mortgage Serial Rate Issued Matures Authorized Outstanding 
Sinking Fund Bonds ..............6% 11-1-25 4-1-33 $700,000 $243,000 
Interest Payable: A. & O. 1 at trus- for each unexpired year. 
ees’ office, Chicago, Ill. Sinking Fund: Company makes pay- 
Principal Payable: $100,000 Apr. 1, ment to trustee as timber is cut equal 
1927 to 1932, inclusive: Apr. 1, 1933, to 11% times amount loaned. 
$50,000. Tax Status: Company pays 29 Fed. 
Trustee: Continental & Commercial Income Tax. 
Ravings Bank, Chicago, Ill. Security: First Mortgage on prop- 
Registerable: As to principal only. erty valued at $1,700,000. 
Denominations: $1,000, $500, $100, Offered hy: Baker Fentress & Co. 
roupons. and First National Co.. Chicago, Ill. 
Callable: At $100 and int.. plus 4 9% Nov. 1425