-+MBER AND TIMBER COMPANIES

OREGON WHITE CEDAR COMPANY

GENERAL OFFICE: Marshfield, Ore.
HISTORY: Incorporated under laws of Oregon, 1928.
BUSINESS: Conducts logging operations in Coos County, Oregon.
PROPERTY: 1,680 acres, cruising 90,313,000 feet merchantable timber, approximately
 one-third of which is Port Orford white cedar, remainder fir, spruce and
hemlock, located in Coos County, Oregon, tributary to Coos Bay.

1.
2

Preferred Stock
Common Stock

CAPITALIZATION, Ax of Dec. 31, 1929
Par Value Authorized
vreenaneeeee $100 $600,000
No Par $606,352

Outstanding
$600,000
$606,352

TTNDED DEBT, As of Dec. 31, 1929

Rate Dated Due Authorized Outstanding
6% 10-15-28 10-15-33 $450,000 $450,000
Interest Payable: April and Oct. 15, Sinking Fund: $15 per M for white
at office of trustee. cedar, $3 for spruce, $2 for fir, 50c¢ for
Trustee: Continental National Bank hemlock, as cut.
Trust Co. of Chicago. T S g rs 2 -
Registerable: As to principal. ras Matus; Company pays 2% Fed
Denominations: $1,000, $500, $100. . j R .
Callable: On 30 days’ notice on any Security: First mortgages on timber
interest date at par plus 14 % for each and equipment yalued at $1,325,000.
unexpired year, but not less than 1% 9% Offered by: Blyth & Co.. Oct., 1928.
nor more than 19%. at £100.

OREGON LUMBER COMPAM

GENERAL OFFICE: Baker, Oregon.
HISTORY: Incorporated under laws of Washington, 1889
BUSINESS: Engaged in general lumber business.
PROPERTY, Ete.: Company owns in fee approximately 50,000 acres of timber
land in Grant and Baker Counties, Oregon, and estimated to carry over 532,445,-000
 feet of pine and 74,850,000 feet of mixed timber, and by 10.000 acres in Hood
River County, carrying 259,440.000 feet of Douglas fir and 31,300,000 feet of other
timber. Two sawmills at Bates and Dee, Ore.,, and a box factory and finishing
plant at Baker, Ore., together with logging railroad, logging equipment and
78% of the Capital stock of Sumpter Valley Railroad, which traverses the company’'s
 holdings. .
Timber appraised in 1925 at $2,460,755. Plants and mills appraised at $1,055,-054.
 Logging railroad and equipment, $494,325.51; fixed assets had a total value
of $4,010,134.51, without stock of Sumpter Valley Railroad.
OFFICERS: J. M. Eccles, Pres.; Dean R. Brimhall, Vice Pres.; W. J. Eccles, Sec.-Treas.;
 J. G. Titley, Asst. Secy.
DIRECTORS: John Inglis, Dean R. Brimhall, W. J, Eccles. Homes G. Eccles. J.
M. Eccles.
GENERAL AUDITORS: Haskins & Sells.
Fiscal Year Ends: Dec. 31. Annual Meeting: 4th Mon. in Feb.
Par Value Authorized
Capital Stock ..... 3100 $1.000.000

Outstanding
£996.600

FUNDED DERT, Ax of Dec. 31, 1929
First Mortgage Sinking ©. Rate Dated Due Authorized Outstanding
Fund Gold Bonds.................... 6% 4-1-25 4-1-35 $1,500,000 $805,900

Interest Payable: April and Oct. 1.
at Continental Illinois Bank & Trust
Co., Chicago, or at Fidelity National
Bank & Trust Co., Kansas City, Mo.
Trustee: Fidelity National Bank &
Trust Co., Kansas City, Mo. Co-trustee:
I D. Lacy, New Windsor, N. Y.
Registerable: As to principal.
Denominations: Coupon, $100, $500,
$1,000.
Callable: On 30 days’ notice on any
interest date at 104 to April 2, 1930:
‘ess 15% each year thereafter.
Additional Bonds: May be issued up
to 50% of cost of additional property
acquired under this mortgage.
Sinking Fund: Monthly pavment of
£2.50 per 1.000 feet of pine timber and

$1.00 per 1,000 feet of all other timber
cut to purchase or call bonds at not to
exceed redemption price.
Tax Status: Company pays normal
Federal income tax up to 29%.
Secured: By a direct first mortgage
on entire property of the company and
by a pledge of 789% of outstanding
stock of Sumpter Valley Ry. Co.
Legal Opinion by: Messrs. Dowersock
 & Fizzell.
Other Details: Issued to retire indebtedness.

Offered by: Fidelity National Dank
% Trust Co. Kansas City, Mo. and
l.aev Securities Corp... Chicago. April.
1925. at 100