amount, provided interest and amortization on any such 
fee mortgage shall not exceed $125,000. 
Earnings: This building was opened in Feb., 1930, and based 
on best information obtainable is now 80% rented. 
Price Range: January-May, 1930—9614-9615. 
United Post Office 
(Several Large Cities) 
First Mortage Fee 5%% 1935 Sinking Fund Bonds. 
Amount: $6,000,000; reserved, $800,000; retired, $333,500: out- 
standing, $4,966,500. 
Dated: February 15, 1927. 
Maturity: February 15, 1935. 
Interest: February and August 15th. 
Denominations: $1,000 and $500. 
Taxes: 2% Federal—Any State, D. C. or Mass. income not 
exceeding 5 mills. 
Redemption: 102 to 1931; thereafter at 101. 
Trustee: Irving Trust Company, New York. 
Appraisal: Geo. T. Wheldon, Vice-Chairman Indianapolis Real 
Estate Board Appraisal Committee, and T. F. MacFarlane, 
of Detroit Real Estate Board, $7,228,525. 
Security: Fee estates and buildings constructed for the pur- 
pose of handling United States mails, 20 properties in all; 
five in Detroit, Michigan; four in Indianapolis, Indiana; 
three in Chicago; two in St. Louis; one in Boston; one in 
Buffalo; one in Atlantic City; one in Cleveland; one in 
Kansas City; one in Dayton, Ohio. Also, stocks of some 
of the owner-corporations are pledged. 
Earnings: These properties are all leased to the United States 
government, and $420,000 of the rentals is paid to the 
Trustee for interest and sinking fund purposes. The aggre- 
gate rentals are $493,000, in addition to rentals of approxi~ 
mately $77,000 from other tenants. 
Present rentals, $570,000; present bond interest, $267,676. 
The Drake 
(Northwest Corner Park Ave. and 56th St, New York City) 
First Mortgage Serial 6% Gold Loan Certificates 
Original Amount: $3,750,000; outstanding, $3,593,000. 
Date: Mav 1, 1927.