BOND CIRCUJ^ARS 339 



bilities) and of all the bonds and the total issued capital 

 stock of the Jonquiere Pulp Company, owns and controls 

 the following properties: 



TIMBER LANDS. 



The company owns and controls about 4,136,000 acres 

 or arpents of timber and pulp-wood lands, consisting of 

 about 128,000 acres or arpents of freehold and 4,008,000 

 acres of leasehold all well timbered and located north and 

 south of the St. Lawrence and Sagiienay Rivers in the 

 Province of Quebec. 



These lands contain over three thousand million feet 

 (board measure) of merchantable timber and over twenty 

 million cords of puli>wood. 



TIMBER LICENSES. 



The company holds its licenses to cut timber from the 

 Government of the Province of Quebec and these are 

 renewable by the Company from year to year, subject to 

 the Government regulations. 



For these licenses the company pays an annual ground 

 rental of $5.00 per square mile, or about three-quarters of 

 a cent per acre, and stumpage dues on all timber cut. 

 according to the regulations of the Government of the 

 Province of Quebec. (These rentals and stumpage dues 

 do not apply to the freehold lands owned by the company.) 



The timber limits are easily workable and the prod- 

 ucts have the home markets close at hand, besides being 

 particularly well-situated to meet the demands of the 

 British, United States and other foreign markets. 



The danger of fire is reduced to a minimum owing to the 

 scattered nature of the different properties, the heavy 

 rainfall and the efficient system of fire protection now in 

 vogue in the Province of Quebec. 



The supply of timber may be deemed practically inex- 

 haustible as the large area of the property permits of a 

 careful system of conservation, so that there is a constant 

 renewal of the growth of merchantable timber, and further 

 the Government regulations limit the size of trees to be 

 cut. 



At present the company limits are being worked to the 

 extent of only one-third of their capacity. The construc- 

 tion of the proposed Paper Mills will necessitate the work- 

 ing of about two-thirds of the limits. 



EXISTING MILLS. 

 Nine saw mills at Batiscan, Montmagny, Cap St. Ignace, 

 Trois Saumons, Rimouski, Matane, Salmon Lake, St. Mar- 



