The Time to Invest in Timber 



Is NOW. 



H^e can take advantage of market conditions 

 for you as you cannot for yourself 



Either of two systems may be followed in buying timber. One 

 contemplates buying properties at recognized market values to accord with 

 individual ideas as to what a timber tract should be and hold it in anticipa- 

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

 taking advantage of opportunities that come to an orgatiization like ours, 

 buying at prices much below recognized values and gaining prof t both from 

 the purchase and from accretion. 



Obviously the latter plan is most inviting from the standpoint 



of speculation or for those who do not contemplate future manufacturing. It 

 permits carrying charges to be recko?ied i?ierely as deferred payments on the 

 purchase price, and of course means larger profits . 



The present is a most opportune time for such investments. 



After a period of depression, in common with other industries, lu?nber is 

 coming into its own again. There are, however, many timber owners, 

 financially unable to carry non-productive investments, who must sell. 



M^e can make a selection for you in the Douglas Fir Forests 



of British Columbia, Washington or Oregon; the White Pine of Idaho; 

 the Western Pine of Oregon or California; in the Redwoods of the latter 

 state or elsewhere. Prices range well below the market values. Send for 

 further information and booklet described as "Pointers." 



CHICAGO 

 1750 McCtrmui BUg. 



SEATTLE 

 1009 H'hut Building 



PORTLAND, ORE. 

 1310 North'u.estern Bank Bldg. 



NEW ORLEANS 

 1213 IVhitney-Central BUg 



