$50,000.00 Bond Issue 



of the 



American Forestry Association 



To Members of the American Forestry Association: 



It has been decided by the Board of Directors to issue 

 bonds of the American Forestry Association to the amount 

 of $50,000, paying six per cent interest and redeemable 

 within twenty years. 



The money will be used to improve the magazine AMERICAN 

 FORESTRY, put it on a more influential and better paying 

 basis, increase the membership of the Association and 

 extend its very important educational work. 



The Association has no debts, it is sound and strong 

 financially; the magazine, AMERICAN FORESTRY, returns a 

 substantial profit, which is used in educational work, but 

 the Directors realize that with money to spend for develop- 

 ment work, the Association's value to the general public 

 can be greatly advanced, and its membership largely 

 increased, and at a profit to the Association. I 



Therefore subscriptions to the bond issue are requested 

 from members who are interested in the development of 

 the Association and the extension of its work. The bonds 

 are to consist of $45,000 (forty-five thousand dollars) in 

 $100 bonds and $5,000 (five thousand dollars) in $10 bonds. 

 Subscriptions of only $100 or less are desired, although 

 larger subscriptions will of course be accepted. 



Subscriptions may be made direct to the American 

 Forestry Association, or further details will be sent upon 

 request. 



SUBSCRIPTION BLANK 



A MERICA N FORESTR Y A SSOCIA TION, 

 Washington, D. C. 



I hereby subscribe for $ of the $50,000 bond issue of the 



American Forestry Association. 



Name 



: 



Stnet 



City. . 



