57th Street and Madison Avenue Office Building
(New York City)
Leasehold Mortgage Serial 6% Gold Bonds
Amount: $1,250,000; outstanding 1-26-30, $1,122.500.
Date: January 30, 1925.
Maturity: 1926-1940.
Interest: January and July 26th.
Denominations: $1,000, $500 and in 1940 maturity $100.
Taxes: 2% Federal—Penn., Conn., Maryland, Dist. Columbia,
Virginia, Mass. and New Hampshire.
Redemption: To 1930 at 4%—then at 103 to 1935—thereafter at
102.
Irustee: Nicholas Roberts.

Appraised: Douglas L. Elliman & Company, $2,000,000.
Prior Lien of $70,000 on small parcel of the land under the
mortgage.
Assessed: 1930, Land, $1,125,000; Land and Building, $2,125,000.
Security: Leasehold estate in 6,600 sq. ft. of land at the southwest
 corner of 57th Street and Madison Avenue, New York
City, and the 20-story office building erected thereon.
Note: The Obligor of these bonds, 578 Madison Avenue Corporation,
 is a wholly owned subsidiary of the Fred T. Ley
Interests.
Earnings:

1928 ......
1929 .......
1920

Net
available for Interest
interest, etc. Charges
$99,400 $75,000
101,895 72,600
123.068 70.050

Times
Earned Amortization
1.32 $40,000
1.41 42 500
1.75 45.000

Westinghouse Building
(New York City)
First Mortgage Fee and Leasehold Serial 6% Bonds
Amount: $4,500,000; outstanding April 1, 1930, $3,865,500.
Date: February 27, 1923.
Maturity: 1926-1939.
Interest: April and October 1st.
Denominations: $1,000, $500 and in 1939 maturity $100.
Taxes: 29% Federal

(3+,