REAL ESTA.

FREE AND ACCEPTED MASONS OF WASHINGTON, Seattle, Wash.
5% SERIAL GOLD BONDS
..--$300,000 Interest Payable: Semi - annually,
- 127,500 April and Oct. 1st.
Interest and Principal Payable: At
trustee’s office.
Trustee: First Seattle Dexter Horton
National Bank.
Denominations: $1,000 and $500.
Callable: April 1, 1927; 30 days’ notice
at 100 and interest, in inverse order.
Tax Status: Normal Federal income
tax 29%, paid by mortgagor.
Offered by: Ferris & Hardgrove, Seattle,
 Wash.

Authorized ............
Retired ........
Outstanding
Dated: April 1, 1926. Due:
1927-33.
Property: 4-story home for Masons.
their widows and orphans.
Loeation: Zenith, South Seattle, Wn,
Security: Pledge of revenue and
credit of Free Masonry in Washington.
Maturities: Oct. 1, 1930, $22,500; April
1. 1931, $25,000; April 1, 1932, $27,500;
Oct. 1, 1931, $25,000: Oct. 1, 1932, 327.500.

FRYE INVESTMENT COMPANY, Seattle, Wash.
GUARANTEED 10-YEAR FIRST MORTGAGE 69% GOLD BONDS
Authorized $1,200,000 Interest Payable: June 15th and Dec.
yee June 15, 1928. Due: June 15, 15th, at trustee's office.
Property: Business snd industrial Trustee: The Bank of California, N.A.
properties in Seattle, Tacoma, Everett, Registerable: As to principal only.
Bellingham, Centralia, Bremerton and Denominations: Coupon, $1,000 and
Buckley, Wash.; Portland, Ore., and San $500.
Francisco, Calif. Callable: As a whole or in part upon
Security: Closed first mortgage (less any interest date up to June 15, 1930,
than 489%) on properties valued at at 102% and accrued interest; there-$2,511,432,
 of which the improved prop- 1fter up to une 15, 1932, at 102: to
erties are $2,212,682 in value and the June 15, 1934, at 101%; to June 1, 19384,
animpraved $298,750. ; Yolapiiong are at 101; thereafter to maturity at 100%.
ased on the appraisals of John Davis : . ia inki
& Co., of Seattle; Vincent D. Miller, Sinking Futd: Semi-anpus] sinking
fund payments beginning June 5, 1932,
Inc.,, Seattle; Buckbee, Thorne & Co., in the amount of $80,000 per vear
San Francisco, and Lueddemann & Co.. : NU
Portland. More than 909% in value of Legal Opinion by: Messrs, Peters and
the real estate and improvements secur- Powell, Seattle, and Donworth, Todd &
ing this loan is situated in the cities Holman
of Seattle, Tacoma. Portland, and San Offered by: Geo. H. Burr, Conrad &
Francisco. Broom, June, 1928, at 100.

GARDNER J. GWINN, INC.
GENERAL OFFICE: 408 New Orpheum Bldg. Seattle, Wash,
HISTORY: Incorporated under laws of Washington, 1921.
RUSINESS: Company is engaged in the development of real estate, construction
of various types of buildings thereon, for holding or resale.
PROPERTY: Owns property carried on books at cost price of $2,172,500.
OFFICERS: Gardner J. Gwinn, Pres. and Treas.; F. I. Averill, Vice-Pres.; J. L.
Anderson, Secy.
DIRECTORS: Gardner J. Gwinn, F. L. Averill, J. I.. Anderson. H. H. Dogue. Craig
L.. Spencer, W. E. Froude.,
GENERAL COUNSEL: W. E. Froude, Seattle.
Fixeal Year Ends: Dec. 31. Annual Meeting: Jan. 10.
CAPITALIZATION, As of Dee, 31, 1929
Par Value Authorized Outstanding
1. Preferred Stock ...ocoeeeeeiieeecevicicceeeeee.. No Par 200,000 shs 4,000 shs
92 Common Stock ~~ No Par 100 000 shs 100 000 shs

i. CUMULATIVE PREFERRED STOCK
Provisions: Entitled to cumulative Dividends: Payable quarterly, Jan.
dividends at the rate of $1.75 a share Apr.,, July and Oct. 15th of each year.
per annum. Stock I issued in Serie Have been paid regularly to date.
the proceeds of each series to be use
in the construction of a particular Public Offering by: Gardner IT
huiiging and in turn the revenues fom Gwinn, Inc.
the building shall provide among other .
things for Fo lands of the pre- Price: $25 with bonus one share of
Ferred shares in ten vesars YOM NM ON