The Time to Invest in Timber 



Is NOW. 



M^e can take advantage of market conditions 

 for you as you cannot for yourself 



Eitlicr of two systems may he fol lowed in buying^ timber. One 



con templates bi(ying properties nt recogiii-zed nidi-ket vdlues to accoj'd with 

 individual ideas as to what a tinibcr tract should be a/id hold it in anticipa- 

 tion of steadily increasing value; the other, the Lacey way, contetnplates 

 takifig advantage of opportit/iities that come to an organizatio/i like ours, 

 bitying at prices n/uch below ?rcognissed values and gaitii/ig prof t both from 

 the purchase a?id from accretio?i. 



Obviously the latter pi a ti is most inviti)ig from the standpoint 



of speculation or for those who do ?/ot contemplate future tnanufacturing. It 

 permits carrying charges to be reckoned merely as deferred payments on the 

 purchase price, and oj course mea?is larger prof ts. 



1 he present is a most opportune time for sneh investments. 



After a period of depression, in common with other i/ulustries, lumber is 

 coming into its own agai?i. There arc, however, ma?iy tittiber owners, 

 f/uincially unable to cany 7ion-proditctive i?ivestments, who niust sell. 



If^e can tnake a selection for yon in the Douglas Fir Forests 



of British Coluntbia, JFashington or Orego/t; the 11' hite Pi/ie of Idcduj; 

 the IFester/i Pine of Oreg07i or California; in the Redwoods of the latter 

 state or elsewhere. Prices i-a?ige well below the mai'ket values. Send for 

 further i? formation and booklet described as ''''Pointers. " 



CHICAGO 

 1750 McCormick Bldg. 



SEATTLE 

 1009 While EuiUins 



PORTLAND, ORE. 

 1310 Norl/iiL-estcrn Bank BU^. 



NEir ORLEANS 

 1113 U'hilney-Central BIdg. 



