He IVas "Stuck" 

 On His Tract 



Once there was a man who had what was reputed to 



be an exceptionally valuable tract of timberland no matter where 

 which he bought on an old-fashioned" timber cruise" phis his personal inspection. 



Wishing to take his profit on the investment he con- 

 fidently offered the tract to James D. Lacey ^f Company. 



Besides the reputation of the tract there were super- 

 ficial indications of unusual excellence; but Lacey & Company 

 deal only with THE FACTS. 



A LACEY REPORT on the tract showed the 



astonishing fact to be that the value of merchantable timber on the 

 tract was bare ly more than half what the intending seller sincerely believed he 

 had, although he was an experienced lumberman. 



He was "stuck" badly; in fact a "LACEY 



REPORT" on the property when he bought it would not have cost 

 a twenty-fifth of what he was stuck." This is a true story with a moral. 

 May we send you "Pointers," an interesting booklet? 



CHICAGO 



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SE.irn.F. 

 i r hi it nidx. 



PORTUND (ORE.) 

 1310 Northwestern Bank BUg. 



NEW ORLEANS 



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