THOMSON'S MANUAL
BLOEDEL-DONOVAN LUMBER MILLS
GENERAL OFFICES: Bellingham, Wash.
SALES OFFICES: 1411 Fourth Ave. Seattle, Wash.
BRANCH OFFICES: New York, Chicago, Philadelphia, St. Louis, Kansas City.
Baltimore, Minneapolis, Omaha, Denver, Los Angeles.
HISTORY: Incorporated under laws of Maine, Jan. 30, 1913. Consolidation of
Lake Whatcom Logging Co. (established 1898), and Larson Lumber Co. (estab-
lished 1901). On Dec. 31, 1928, company absorbed Bloedel-Donovan Timber Co.
assuming all its obligations except outstanding bonds, which were retired Feb.
1, 1929. Company has been under same management more than 30 years.
BUSINESS: Manufacturers diversified line of lumber products from native Pa-
cific Northwest timber, namely Douglas fir, Western hemlock, Western red cedar
and Sitka spruce. Conducts logging operations in three Western Washington
counties: Clallam, King and Whatcom. Total daily capacity of logging camps
1,400,000 feet, B. M. Operates mills with combined daily capacity of 1,000.000
‘eet of lumber, 500,000 shingles, 500 doors and 140,000 feet box shook.
PLANTS AND EQUIPMENT: Owns 150 miles of standard guage railroad, with
locomotives, cars, donkey engines and miscellaneous equipment for 6 logging
camps. Owns three sawmills, two planing mills, two shingle mills, box factory
and sash. and door factory at Bellingham, Wash, with 30 acres of waterfront
property having facilities for both rail and water shipments. Wharves will ac-
~ommodate six deep-sea vessels. Owns sawmill, planing and shingle mills at
3kykomish, Wash., catering to domestic rail trade.
IIMBER AND LANDS: Company owns, or controls through cutting contracts,
50,000 acres of standing timber in Western Washington, cruising 3,380,000,000
‘eet, B. M., of which 13,800 acres, cruising 645,000,000 feet, are owned in fee
simple. Owns 30,000 acres logged-off land.
SUBSIDIARIES: Controls Columbia Valley Lumber Co., a retail lumber yard at
Bellingham, Wash.
MANAGEMENT: J. H. Bloedel, Pres., Seattle, Wash.; J. J. Donovan, Vice Pres.;
J. N. Donovan, Asst. to Pres.; F. E. Frost, Treas.; Stewart Matthews, Secy., all of
Bellingham, Wash.
DIRECTORS: All of the foregoing, together with C. B. Power, Helena, Mont..
and John McMahon of Bellingham.
GENERAL AUDITORS: Ernst & Ernst, Seattle, Wash.
Fiscal Year Ends: Dec. 31. Annual Meeting: 1st Mon. in Feb.
Number of Employes: 3,000.
CAPITALIZATION, As of Dee. 31, 1929
Par Value Authorized Outstanding
1. 6% Cum. Pref. Stock... oooeeeeiinees $100 27,500 shs 20,000 shs
2. Common StOCK meeeeeeeeeeaemenaeeeeeee $100 35,000 shs 35.000 shs
1. 6% CUMULATIVE PREFERRED STOCK
Provisions: Has preference as to as- Dividends: On original issue of $1,
sets in liguidation. Dividends are cum- 750,000. 6% paid annually to Dec. 31
ulative. Under special agreement, 1924; 1925 to 1927, inclusive, none; 1928,
$250,000 issued Dec. 1, 1925, has prefer- 39: 1929, 12%. On special issue of 250,-
ence as to dividends over $1,750,000 000, 1926, 6%: 1927. 6%; 1928, 6%; 1929
previously issued.* 6%. .
Callable: .At any dividend date, at Transfer Agent and Registrar: The
L02 on 30 days’ notice. Company.
Voting Power: Equal share for share Number of Stockhelders: Dec. 31
with Common stock. 1929, 14.
2. COMMON STOCK
Number of Stockholders: 23. Transfer Agent and Registrar: The
Voting Power: Equal, share for Companv
share, with Preferred stock. :
COMPARATIVE INCOME STATEMENT, Years Ending Dee. 31
29 01928
962 © 702,696
,396 4,913
rong 15
06,.08
L2 "EQ
1927
$7,462,453
5,401,335
902 2R0
Gross Revenue .ooooocceecccce ceems memes
Operating EXPENSE ..ooeoinnisanneees
DeDTECIATION coco ceeameca ceca mce cman mnmnnann ©
Net Earnings ......
Other Income _..
$1.857,758
20 205
Total Income coo... .eeoe-
Interest on Bonds. ieee
Other INterest ion cerernmeeees
Depletion icone ren nnnaeanenae
Federal Taxes occccceemimmenn.
BEATE MHTER oernrmmnemmmes bi RAE amiss rman
BEX
*,016
2,000
74,591
69,589
82.500
“64
00
‘46
"26
00
‘oe
$1,897,063
32,000
63,113
866,835
70,000
112.057
© 753,058
23,750
$ 729,308
37.65
18.09
Net INCOME coeeeemamiacccaee cemoamnas
Dreferred Dividends oie
Surplus for the VEAL ceeeaiomaeeeammnnaaneraeanneanae 194,325
Earned per share Preferred stock. ............. 35.59
Rarned per share Common stock. o.oo 16.91
20
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