STYLE OF BONDS 335 



operators. The greatest dangers to serial tim- 

 ber bonds as floated at present are excessive 

 sinking funds and the practice of passing on 

 abstracts of titles instead of going to the orig- 

 inal records at the county seats. There will bo 

 defaults in some timber bonds now outstand- 

 ing. The object of this book is to show the 

 bond dealer and investor how to avoid disaster 

 and to furnish him the best available practical 

 information. The preceding mortgages cover 

 their field in a comprehensive manner ; the next 

 chapter is devoted to actual circulars describ- 

 ing issues now outstanding. A comparison of 

 these documents will enable the student to 

 choose the best features from each. The 

 houses represented will be glad to send the 

 originals to anyone on request. 



