cago River, and the 8-story warehouse, administration
offices and retail store occupied by Montgomery Ward &
Co., who have contracted to buy the building and pay therefor
 in 50 semi-annual payments which coincide with the
interest and sinking fund requirements on these bonds.
This in effect makes the Montgomery Ward & Co. a guarantor
 of these bonds.
The earnings and rating of Montgomery Ward & Co.
are reported in all statistical manuals. Their 1928 gross
sales were $232.000.000.

Chicago Evening Post Building
(Chicago)
First Mortgage Leasehold 6% 1947 Sinking Fund Bonds
Amount: $1,800,000.
Dated: July 1, 1927.
Maturity: July 1, 1947.
Interest: January and July 1st.
Denominations: $1,000, $500 and $100.
Taxes: 2% Federal—Penn., Mass., Mich.
Redemption: 103 to July, 1932; then 102 to July, 1937; thereafter
 101.
Trustee: Central Trust Company of Illinois, Chicago.

Appraised: Farnham-Kuhn Company and Paschen Bros. at
$3,049,333.
Security: Leasehold estate in land at the southeast corner of
Wacker Drive and Fork Avenue, three-street frontage, 60x
150x60—and the 19-story office building, which also houses
the printing equipment and newspaper plant of the Chicago
Evening Post. The lease is a 99-yr. term, and the average
rental during the bond-term is $31,750.
Earnings: Property leased for 25 years to Chicago Evening
Post Company, at a net rental of $216,000—which is twice
the maximum interest charges, and 1.44 times interest plus
amortization, Beginning July 31, 1931. $150.000 per annum
of principal is amortized.
Chicago Evening Post has been in the business of publishing
 an evening newspaper in Chicago since 1890, and its
standing is so well known no comment is made.

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