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 north- 
east 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)