Full text: Thomson's manual of Pacific Northwest finance

THOMSON'S MANUAL 
COLUMBIA RIVER LONGVIEW BRIDGE COMPANY 
GENERAL OFFICE: Longview, Wash, 
HISTORY: Incorporated under laws of Delaware, Oct. 19, 1928. 
BUSINESS: Company operates a toll bridge across the Columbia River, connect- 
ing Longview, Wash., and Rainier, Ore., pursuant to an Act of Congress, approved 
January 28, 1927. Bridge was opened to traffic March 27, 1930. 
FRANCHISE: Secretary of War, the Secretary of Commerce and the Secretary 
of Agriculture, acting jointly, approved the general plans and location of the 
bridge. The franchise gives states of Washington and Oregon the right at any 
time to acquire the property by purchase or by condemnation at a price deter- 
mined in accordance with law, and after 20 years from date of completion to 
acquire the property by condemnation, at a price covering actual cost of con- 
structing the bridge (less a reasonable deduction for actual depreciation), plus 
che actual cost of acquiring necessary interests in real property, actual financing 
and promotion costs (not to exceed 10% of the cost of construction and of the 
acquisition of interests in real property) and actual expenditures for necessary 
mprovements. 
DFFICERS: W. D. Comer, Pres.; Arnold E. Foster, Vice Pres. & Treas.; Wesley 
Vandercook, Secy.; Ernest P. Wilson, Asst. Secy.; R. O. Houghton, Asst. Treas. 
DIRECTORS: W. D. Comer, Arnold E. Foster, K. M. Gilham, H. E. Gray. R. O 
Houghton, James C. Read, Wesley Vandercook. 
GENERAL COUNSEL: Warren H. Lewis, Seattle. 
Fiseal Year Ends: Dec. 31. Annual Meeting: 2nd Tues. in Jan. 
CAPITALIZATION, As of March 29, 1930 
Par Value Authorized 
Ceeeneeemnen $100 $200,000 
£111) $1,000,000 
~~ No Par 9 999 ghs 
94 
Outstanding 
$200,000 
$1,000,000 
9.999 shs 
1. 7% CUMULATIVE PRIOR PREFERRED STOCK 
Provisions: Preferred as to 7% cum- to $50,000 annually, and % of any earn- 
nlative dividends over other classes of ings over $50,000 to be applied to re- 
stock and to $100 per share in event of tirement of Prior Preferred, and after 
liquidation. Prior Preferred has been retired. to 
Callable: On 30 days’ notice at 100. apply to Preferred. 
sinking Fund: All net earnings up 
tI. 79% Cum. Prior Pref. Siock.. 
2. 7% Cum. Pref. Stock... 
3. Common Stock 
2. 7% CUMULATIVE PREFERRED STOCK 
Provisions: Subject to Prior Pre- liquidation. } 
‘erred, has preference as to 7% cumu- Callable on 30 days’ notice at 100. 
ative dividends .and $100 in event of Sinking Fund: See Prior Preferred. 
FUNDED DEBT, As of March 29, 1930 
l. First Sinking Fund Rate Dated Due Authorized Outstanding 
Gold BONAS wocoeaeeeeencrmrereneee 06% 10-1-28  10-1-53 $3,000,000 $3,000,000 
9 15-Yr. S. F. Debentures.......... 7% 10-1-28 10-1-43 $1.600.000 $1,600.000 
1. FIRST MORTGAGE 614% 
Interest Payable: April 1 and Oct. 1 
at office of J. & W. Seligman & Co., New 
York, or Bank of Italy, San Francisco. 
Trustee: Guaranty Trust Co. of New 
York. 
Registerable: As to orincinal (cou- 
pon bonds). 
Denominations: $1,000 and $500. 
Callable: As a whole or in part by 
iot, on any interest date on 30 days’ 
notice, to and including Oct. 1, 1938, at 
105 and interest; thereafter to and in- 
cluding Oct. 1, 1948, at 103 and inter- 
ast; thereafter prior to maturity at 101 
and interest. 
Sinking Fund: A Sinking Fund will 
be provided. beginning April 1. 1933, in 
2. 15-YEAR SINKING FUND 7% PARTICIPATING GOLD DEBENTURES 
interest Payable: April 1 and Oct. 1, notice, to and including Oct. 1, 1933, at 
at office of J. & W. Seligman & Co., 110 and interest; thereafter to and in- 
New York. cluding Oct. 1, 1938, at 107 and inter- 
Trustee: Guaranty Trust Co. of New sst; thereafter prior to maturitv at 104 
York. and interest. . 
Registerable: As to principal (cou- Participation: Debentures entitled 
pon debentures). to receive on each semi-annual interest 
Denominations: $1,000 and $500. payment date, beginning Oct. 1, 1931, 
Callable: As a whole or in part by additional interest up to 1% % for the 
lot. on anv interest date on 30 davs’ six months ended on the previous June 
SINKING FUND GOLD BONDS 
semi-annual installments, calculated to 
retire the entire issue at or before ma- 
turity. 
Tax Status: Company pays normal 
Federal income tax up to 2% and re- 
‘und personal property tax of any state 
‘n the Union. 
Security: First mortgage on all real 
property now owned or hereafter ac- 
guired. 
Legal Opinion by: Cravath, de Gers- 
jorff, Swaine & Wood for the under- 
writers; Warren H. Lewis for the com- 
pany. 
Offered by: J. & W. Seligman & Co. 
New York. Oct.. 1928. at 9915,
	        
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