Redemption: 10922 in 1924, %% less each succeeding year;
minimum 102,
Trustee: Nicholas Roberts.

Appraised (appraiser not named): $7,150,000.
Assessed, 1930: Land, $5,800,000; land and building, $10,600,000.
Security: Leasehold estate under a lease from the New York
Central interests, 21-year term with two 21-year renewal
privileges; average annual rental first term $200,000; plot
one city block bounded by Park, Lexington, 47th and 48th
Streets, Manhattan; 12- and 13-story apartment building
erected thereon—324 apartments, 2 to 7 rooms, in Grand
Central district.
Earnings: The principal indebtedness has been reduced $668,500
since the building was opened in 1925, and is approximately
100% rented. Due to illness of auditor, actual figures will
he furnished later.

65 West 39th Street Building
(New York City)
First Mortgage Sinking Fund Gold 6%
Amount: $2,200,000; outstanding $2,086,500.
Dated: April 27, 1925.
Maturity: April 27, 1937.
Interest: April and October 27th.
Denominations: $1,000, $500 and $100.
Taxes: 2% Federal—Penn., Conn, N. H.; on specific bonds
Mass. 6%. |
Redemption: For Sinking Fund 101; otherwise 104 to 1929;
then 103 to 1931; thereafter at 102.
Trustee: Wm. R. Gillespie.

Appraised: $3,150,000—appraiser not named.
Assessed, 1930: $2,400,000.
Security: Fee estate in land 98.9 x 100 located at the northeast
 corner of 35th Street and Sixth Avenue, in New York
City, and the 23-story mercantile building erected thereon.
Earnings:

Year
1927 . ...
1928 ........
1929 .. ....

Net available
for interest
$285,039
239,692
245.289

Interest
charges
$139,072
132,356
131.427

Times
earned
2.05
1.81
1.87

Amount
amortized
$41,250
57,625
61,125

15)