INDUSTRIALS
SEATTLE TIMES COMPANY
GENERAL OFFICE: Times Square, Seattle, Wash.
HISTORY: Incorporated under laws of Delaware, Feb. 1, 1930, succeeding the
Seattle Times, Inc, which was originally established by Col. Alden J. Blethen in
1896.
BUSINESS: Publisher of the Seattle Daily Times, an evening newspaper, and
the Scattle Sunday Times. Average daily circulation, 100,000 copies. Owns ex-
clugive Associated Press franchise for evening daily service in Seattle.
OFFICERS: CC. B. Blethen, Pres.; Elmer E. Todd, Vice Pres.; F. D. Hammons,
Sec'y.-Treas.
DIRECTORS: CC. B. Blethen, Elmer E. Todd, F. D. Hammons, Rae Kingsley
Blethen, A. B. Colmary, A. P. Schweppe, Stanley N. Minor, Raymond R. Frazier,
B. F. Ridder.
GENERAL COUNSEL: Todd, Holman & Sprague.
GENERAL AUDITORS: Price, Waterhouse & Co.
Fiscal Year Ends: Dec. 31. Annual Meeting: 3rd Tues. in Jan.
Number of Employees: 700.
CAPITALIZATION, As of June 30, 1930
Par Value Authorized
7% Cumulative Preferred Stock.... $100 $1.000,000
Class A Stock...... veeeee-en.NO Par 20,000 shs
Class B Stock.... .....No Par 1.000
BALANCE SHEET, As of Oct. 31, 1929
LIADRILLITIES
ASSETS
Associated Press Franchise....$3,960,398
Real Estate ... ceeeeee 141.545
Machinery & Equinmeni _.. 669,934
Accts. & Notes Receivable 410,122
Inventories ... 98,120
Cash ....... 84,653
Deferred Char 160.871
TOTAI., ASQR1
Funded Debt . ee..32.000,000
Preferred Stoc’ J00,000
lass A Stock. 300,000
Class B Stock... 141,555
Deferred Liabil’ 40,000
Notes Payable 260,000
Accts. Payable . 00,464
Accrued Taxes ..... 59,266
"Tnearned Revenue _. 14,358
TOTAL LIADILITIES .........855958643
$5 595 643
FUNDED DEBT, As of Feb. 1, 1930
Rate Dated Due Authorized
6%% 2-1-30 2-1-48 $2,000,000
Interest Payable: Aug. _. and Feb. .,
at office of trustee.
Trustee: First Seattle Dexter Hor-
ton National Bank, Seattle.
Registerable: As to principal.
Denominations: $1,000 and $500.
Callable: In whole or in part on any
interest payment date on 30 days’ no-
tice at 103 and accrued interest up to
and including Feb. 1, 1942, and there-
after at the call price, diminished by
15% each succeeding vear after Feh 1
1942,
Sinking Fund: A cumulative semi-
annual sinking fund of $95,000 will be
deposited with trustee commencing on
Aug. 1, 1930, to be applied in payment
of interest and purchase of bonds in
the open market up to the call price.
In addition to this sinking fund pro-
vision, proceeds from sale of certain
other assets are to be deposited with
trustee in event of sale of such assets,
for purchase and redemption of bonds.
The semi-annual sinking fund payment
will retire the whole issue by maturity.
Tax Status: Company pays normal
Federal income tax up to 29%.
Provisions: Corporation covenants
that so long as any of these bonds are
outstanding: (1) No mortgage or lien
shall be placed on any property of the
corporation excepting purchase money
mortgages on after acquired property
Outstanding
$2,000,000
and excepting that, upon payment of
$100,000 into the sinking fund, a lien
1ot exceeding 609% of the cost of real
>state and buildings may be placed
1pon one of several tracts of real prop-
rrty owned by the corporation. (2)
WVith the exception of these Debenture
3onds the corporation will incur no in-
lebtedness (other than purchase money
nortgages or conditional sales on after
icquired property) except in the usual
rourse of business and maturing not
ater than one year from date thereof.
3) That the corporation will not pay
n any fiscal year any cash dividends
ipon its Class A stock or Common
stock or make provision for retirement
>f any of its outstanding stock until
t shall have first paid to the trustee,
‘unds sufficient to meet all interest
ind sinking fund requirements under
:aid Indenture for the current fiscal
year and for the first interest and sink-
‘ng fund payment due in next suceceed-
ing vear.
Legal Opinion by: McMicken, Ram-
say, Rupp & Schweppe and Todd. Hol-
man & Sprague.
Offered by: Dean, Witter & Co., Se-
ittle, and First Securities Corp. and
Wells, Dickey & Co., Minneapolis. Minn.
Jan.,, 1930, at 981%.
I[.isted on: Seattle Stock Fxchange.
