THOMSON'S MANUAL

2. CLASS B COMMON STOCK
Provisions: Entitled to non-cum. liguidation entitled to $50 after
jividends of $4 per share after Class A Class A.
iividends shall have been fully pro- Dividends: Non-reported.
vided for and then only provided there Transfer Agent: Central Hanover
shall remain a surplus of at least §$6,- Bank & Trust Co., New York.
000,000 accumulated out of profits Registrar: Guaranty Trust Co.. New
sarned subsequent to Jan. 1, 1925. In York.

CONSOLIDATED INCOME STATEMENT, Years Ending Dee. 31
1929 1928
ceeeeneeee $4,955,283 ,7154,600
' 624.367 AQ1 759

1927
24,566,423
2115 002

Operating Profit o.oo.
Profit on Timber Sales.............

Net Earnings .........
Depletion ois
Depreciation ....occmsssismessssomn
Interest Charges .oveeeececemeaeeee

~

. «TC
ar”? R18

a
ut
if

681,425
917,500
396,093
RA9.767

NET INCOME .oooeeeeeeeeceeee
No. Class A Shares Outstanding...........
No. Class B Shares Outstanding....................
Farned. per share (Class A stock.

22
21
5,569
207

498,065
593,921
542.569
2.52

“ k£

<.
.-69
3.25

“"ONSOLIDATED BALANCE SHEET, As of Dee. 31

ASSETS 1929
Stumpage . reeeeeenn$ 33,400,366
LANA ceeeoeeeeeeieeeeereeeeeeeennerceessecneeeaemneeee 12,891,684
Plants and Equipment.....ccccoeeereeeeeee. 36,603,330
Treasury StoCK ..oiioecececcccccameeee 105,338
Diking District Bonds ..occoooooioiiieeaees 1,607,000
CASRN eee eee ee crore mee amnnmeneae 2,699,592
Accounts & Notes Rec. i 2,847,326
508.7223 11 0) sb, NORE RR pe 0,030,435
Life INSUTrancCe ...oeeemeecemccceceecaeenns 353,827
Land Contracts, fe, common v,369,503
Deferred EXPenses ...oooocoooviiiiociianans 2,375,305
TOTAL ASSETS oceeeeereeeeeeen-$116.183.708
LIABILITIES—
Capital Stock ...........
Bonded Debt oii ——
Minority Interest in Sub. .......
Notes Payable ........
Accounts Payable ......
Accrued Interest and Taxes
Reserves .eceecenienee
Diking District Bonds.......
Surplus coeeeceeciciieia
TOTAL I.JTARTILITTES oo.

1928
$ 35,258,631
12,277,231
37.273.902
134.493
5,127,862
2'514.802
2.848.773
0 nalg5y
23
1
95
299 569

1927
$ 37,608,555
11,771,402
38,108,385
112,315
5,638,594
2,357,376
3,082,509
9,840,042
332,691
3,248,918
2,892,023
$114.992.810

.03,471
051,631
*05,90¢
'9,92¢
Te

+ 56,381,490
46,295,451
591,408
:54,895
, 288,133
952,362
,390,477
3 RAK. B94

“4 992 810

706

«

FUNDED DERT As of Dec. 31.

1929

Name of Issue
I. 1st Mtg. Series ./.
2. 1st Mtg. Series J )
2, 1st Mtg. Series C........ tp
4. Conv. Gold Notes......ccceeeen..6%
5. Superior Oak Floor... .....6%

?ate

reted
“-22
1-23
.-..~26
.2-1-31
Ca1-28

Due
19

Authorized Outstanding
%30,000,000 $8,800,000
A 11 Series 8,697,100
+11 Series 7,250,000
3,250,000 3.246,900
2950 000 60.000

a_1.9

DETAILS OF FUNDED ISSUES
i. First Mortgage 6% Sinking Fund Gold Bonds. Series A
Interest Payable: J. & J. 1 at Bank- Sinking Fund: $6 per 1,000 feet of
ars’ Trust Co., New York, and Central timber cut or sold in Louisiana and
Trust Co. of Illinois, Chicago. Texas and $3 per 1,000 feet for timber
Trustee: Central Trust Co. Chicago, cut or sold in California and Oregon,
Michigan Trust Co. Grand Rapids. and Mla appraised value of all other
ie . Lo. 1ssets.
Registerables As to principal. Tax Status: Penn. 4-mill tax refund-Denominations:
 Coupon $100. $500. ed. Company pays normal income tax
$1,000. ap to 2%.
Callable: At any time upon 60 days’ Security: Secured, with other series,
notice at 105 and for sinking fund pur- by a first mortgage on mills and standposes
 at anv time on 20 davs’ notice at ing timber, valued at 200% of amount
101 af bonds.