March 10, 1921 



HARDWOOD RECORD 



All basic industries are bidding against each other for more working capital. The timber industry needs 

 the good will and co-operation of all those interested in its welfare. To co-operate buy timber bonds. 



We own and offer, subject to prior sale and change in price; 



$300,000 



7^6 Collateral Trust Gold Notes 



OF CHARLES B. BOX 



To Yield 73^% to 8% 



Secured by $603,577.80 Vendor Lien (first mortgage) Notes of the 



Great Western Land Company, a subsidiary of the 



American Sugar Refining Company 



Denomination $1,000. 



May be registered as to principal 



Due Amount 



Oct. 2, 1921 $20,000 



Maturities and Yield: 



Apr. 2, 1922. 



Oct. 2, 1922 



Apr. 2, 1923. 



Oct. 2, 1923. 



20,000 

 20,000 

 20,000 

 20,000 



Yield 



87c. 

 8% 

 8% 

 7.95% 



Yield 



7.95'7" 

 7.907r 

 7.90ffc 



7.85% 

 7.85% 



Interest payable seini-annuallv 

 April 2 and October 2. 



Amount Yield 

 ....$20,000 

 ... 20,000 



1927 20,000 



Apr. 2, 1928 20,000 



Oct. 2, 1928 20,000 



Due 

 Oct. 2, 1926. 

 Apr. 2, 1927. 

 Oct. 2, 



7.80% 

 7.80% 

 7.75% 

 7.75% 

 7.75?; 



Due Amount 



Apr. 2, 1924 $20,000 



Oct. 2, 1924 20,000 



Apr. 2, 1925 20,000 



Oct. 2, 1925 20,000 



Apr. 2, 1926 20,000 



Callable on any interest payment date on 30 days' notice at !0I and interest. 

 Principal and interest payable at Continental and Commercial Trust and Savings Bank, Chicago, Illinois. 



SUMMARY 



(1) Said Vendor lien notes are secured by a closed purchase money (first) mort- 

 gage on approximately 15,545.90 acres of hardwood timber lands in St. Landry 

 Parish, La. 



(2) The $603,5 77.80 Vendor lien notes are part of an outstanding issue of $764, - 

 531.88, being the unpaid balance of a total purchase price of $1,005,963.10. 



(3) TTiese lands are estimated to contain over 100,000,000 feet of living mer- 

 chantable timber of the following varieties: Red Gum 37'';, Oak 25 ^c. Cypress 18%, 

 Ash \0'y<. Elm, Pecan, etc., 10%. Our cruiser reports this tract as being one of the best 

 Hardwood tracts in the South. 



(4) The maker of the Vendor lien notes is a subsidiary corporation of the Ameri- 

 can Sugar Refining Co. its entire capital stock (except qualifying shares) being owned 

 by the Brooklyn Cooperage Co., the stock of which (except qualifying shares) is owned 

 by the American Sugar Refining Co. 



(5) The Great Western Land Company represents to us that they own 150,000 

 additional acres of unincumbered lands. 



(6) The maker of the Collateral Notes according to his statement has a net worth 

 of nearly $2,000,000. 



(7) We recommend these notes for your investment. 



Plats of the property, details as to estimates of the timber, copies of the Vendor's 

 lien and Collateral Trust Agreement and opinions as to title and the validity of the 

 instruments are on file in our office where they may be examined. 



ESTABLISHED 1891 



Baker, Fentress Company 



SUCCESSORS TO LYON, GARY & COMPANY 



We offer lunabermen flexible, practical loans. For 3 years we have been identified with the timber industry 

 as ow^ners, operators, buyers and sellers and managers of properties. As bankers to lumbermen, w^e have 

 loaned millions of dollars to successful, going companies with a record of successful performance. 



TIMBER SECURITIES 



CHICAGO 



208 S. LA SALLE STREET 



The statements contained herein are not guaranteed but have been obtained from sources which we believe to be accurate and reliable. 



As a lumberman you know the intrinsic value of a lumber property. You and we believe there is no better 

 security than timber. All basic industries have their problems. Why not make your investments in 

 securities which you best understand? Write or wire for circulars descriptive of this and other Timber Bonds. 



