286 TIMBER BONDS 



the negotiability of the coupons, but the same 

 shall continue to be transferable by delivery 

 notwithstanding such registration. 



ABTICLE IV. 



Fischer Lumber Co. agrees and covenants 

 that it will duly and punctually pay, or cause 

 to be paid, to every holder of any bond issued 

 hereunder and secured hereby the principal and 

 interest accrued thereon, all in gold coin of the 

 United States of America of the standard of 

 weight and fineness existing on the second day 

 of January, 1911, notwithstanding any law 

 which may now or herafter make anything else 

 a legal tender in payment of debts, at the dates 

 and places, and in the manner mentioned in 

 said bonds or in the coupons thereto appertain- 

 ing, according to the true intent and meaning 

 thereof, and without deduction from either the 

 principal or interest for any tax, or taxes, or 

 assessments, or other governmental charges 

 which may be imposed thereon, or which the 

 Company may be required or permitted to pay 

 or to deduct or retain therefrom under or by 

 reason of any present or future law of the 

 United States, or of any State, County or Mu- 

 nicipality thereunder. 



However, the interest on said bonds shall be 

 payable only upon the presentation and sur- 

 render of the respective coupons annexed to 

 said bonds, as such coupons respectively ma- 



