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Initial Timber Tracts 



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ARGE timber holdings, from the final 

 conversion or sale of which great 

 =j profits are realized, are a combination of 



initial and subsequent purchases. 



We have a few Initial Tracts in northern 

 Hemlock and Hardw^oods, Southern Pine, 

 Southern Hardwoods and Western Pine, 

 Douglas Fir and Western Cedar. 



We have knowledge of several desirable 

 ''Commercially Solid" bodies of timber 

 suitable for immediate manufacturing 

 operations and for short time invest- 

 ments. 



We recommend to investors the pur- 

 chase of Initial Tracts to which subse- 

 quently may be added other timber to 

 be purchased under our supervision. 



We recommend the purchase of acces- 

 sible*'Commercially Solid"tracts to those 

 11 desiring timber for immediate operation. 



Send for copy of ''Lumber User's Guide 

 No. 8," which treats of the Special Values, 

 Special Adaptabilities and Special Economies 

 of Douglas Fir for all building purposes. 



JAMES D. LACEY & CO. 



I Timber L^and F^actors 



1750 McCormick Building 1107 Spalding Building 1009 White Building 



CHICAGO, ILLINOIS PORTLAND, ORE. SEATTLE, WASH. 



NATIONAL CAPITAL PRESS. 



