THOMSON'S MANUAL
DEXTER HORTON ESTATE. Seattle, Washington
HISTORY: Incorporated under laws of Washington, April 15, 1905.
BUSINESS: Company owns and operates the Dexter Horton Building, a 14-story
steel frame, fireproof office building, completed in 1924, and occupying % a city
block in the heart of the Seattle financial district, with 235 feet frontage on
Cherry Street and 120 feet on both Second and Third Avenues.
The main floor, facing Second Avenue, is occupied by the First Seattle Dex-
ter Horton National Bank. The building contains approximately 5,000,000 cubic
feet and 250,000 square feet of rentable area.
The property was appraised in 1927 at $4,150,000. :
OFFICERS: Chas. E. Horton, Pres.; Helen Penfield, Vice Pres.; Caroline E. Hor-
ton, Sec’v.-Treas.
FUNDED DEBT, As of Dec. 31, 1929
Rate Dated Due Authorized Outstanding
1. 1st Mortg. S. F. Gold Bonds.. 6% 6-28-27 7-1-47 $2,100,000 $2,100,000
2. Gen. Mort. Ser. Gold Bonds.... 7% 6-28-27 1930-40 $400,000 $400,000
1. FIRST MORTGAGE 6% SINKING FUND GOLD BONDS
Interest Payable: Jan. and July 1, ity, by purchase in the open market,
at First Trust & Savings Bank, Chi- or by call at the redemption price.
cago, or office of trustee. Tax Status: Company pays normal
Trustee: The First Seattle Dexter Federal income tax not in excess of 2%,
Horton National Bank. and certain state taxes refunded in
ee _ Calif.,, Minn., Iowa and Mich.
Registerable: As to principal only. Security: The bonds are the direct
Denominations: Coupon, $1,000, $500, obligation of the Dexter Horton Estate
$100. and are secured by a closed first mort-
Callable: At option of the company £&28¢ on land owned in fee and the Dex-
at 1021 and interest on or before July ter Horton Building.
1, 1946, and at par thereafter. Offered by: Group of Seattle Invest-
ment bankers.
Sinking Fund: Provides for the re- Listed on: Seattle Stock Exchange.
tirement of an aggregate principal Price Range: 1929 1928
amount of $1,054,000 of bonds or more High ..... renee 8 Vf 101
than 509% of this issue, prior to matur- Low suvanuenns¥T 97
2. GENERAL "MORTGAGE 7% SERTAL GOLD BONDS
Interest Payable: July 1 and Jan. 1, Callable: At par and accrued inter-
at First Trust & Savings Bank, Chi- est on any interest date.
cago. or at trustee’s office Tax Status: Company pays normal
Federal income tax up to "
Principal Payable: July 1 and Jan. 1 Security: The onils De direct
of each year; July, 1930, $20,000; Jan. ,pligation of The Dexter Horton Es-
and July, 1931, $15,000; Jan. and July, tate, and, in addition, are secured by
1932-33-34-35-36-37-38-39 and Jan. 1940, a general mortgage on the Dexter Hor-
520.000: July, 1940, $10,000. ton Building and land, owned in fee,
Trustee: National Bank of Com- thereunder, subject to $2,100,000 first
. mortgage.
merce, Seattle, Offered by: Ferris & Hardgrove,
Denominations: Coupon $1,000 and Marine National Co. and others, June.
2500 1927. at 100.
DEVONSHIRE APARTMENTS, Vancouver, B. C.
FIRST MORTGAGE 614% SERIAL COUPON BONDS
Authorized ..... ....$450,000 $22,000; 1935, $23,000; 1936, $24,000; 1937.
Retired rceeemee 62,000 $25,000; 1938, $216,000.
-——— Interest Payable: Oct. 1 and Apr. 1.
Outstanding, June 1, 1930............$388,000 Interest and Principal Payable: At
Dated: October 1, 1923. Due: Serial- offices of trustee.
trae ish Reinforced concrete fire Trustees 8 W, §trgvs & Co.
: > e - : & .
proof construction, containing 122 apts., , Denominations: $1,000 and $500; $100
237 rooms. Lot 120x125 ft. in last maturity issue.
Location: Bldg. erected on NE. cor- Callable: At $105 and interest for 1st
ner of Georgia and Hornby Sts., within 6 years, and at 103 and interest there-
one block of bus. center, of Vancouver, after. .
B. C. Sinking Fund: Monthly deposits of
Security: Direct closed 1st mtge. on 1-12 of yearly principal payments and
land and new 7-story and basement apt. semiannual interest. .
bld., together with furniture and equip- Tax Status: U. S. Fed. income tax up
ment. First lien on income sufficient lo 4% and normal Dominion of Canada
to pay interest and principal payments. tax. . Lo
Maturities: Serially, Oct. 1, of each Mortgagor: The Georgia Limited, a
yvear—1926, $12,500; 1927, $16,000; 1928, sorporation.
$16,500; 1929, $17,000; 1930, $18,000; 1931, Offered by: S. W. Straus & Co., Oct.
$19.000: 1932, $20.000: 1933, $21,000: 1934, 1923, at 100.
