THE UNDERWRITER 21 



for any person who wants the information. 

 Their business is underwriting whole issues for 

 timbermen and placing them with banks and 

 bond dealers. These men supply the long felt 

 want. That buyers appreciate their services is 

 attested by the fact that millions of dollars 

 worth of bonds have passed through their 

 hands in the short time they have been operat- 

 ing. 



When the timberman decides to float a bond 

 issue on his holdings, he goes to these under- 

 writers or some bond house or banker to nego- 

 tiate his loan. If he places it in the hands of 

 the underwriters their first move will be to 

 make a close survey of the entire project before 

 calling for the investigations of auditors, cruis- 

 ers and attornevs. 



