350 TIMBER BONDS 



FIRE HAZARD. 



Timber located in the southern states has never been 

 destroyed by fire. This statement can be verified by lum- 

 bermen and other persons familiar with southern timber. 

 Any serious damage by fire is practically impossible be- 

 cause of the absence of undergrowth and the height of 

 the tree.s. This is one of the most Important facts in con- 

 nection with this security. 



We have checked the security offered for this loan in 

 our iLsual careful manner and recommend these bonds for 

 investment. Telegraphic orders may be sent at our ex- 

 pense and bonds will be delivered to any responsible bank, 

 expressage prepaid, payable in Chicago' or New York ex- 

 change. 



All statements herein are official or based on informa- 

 tion which we regard as reliable, and while we do not 

 guarantee them, they are the data upon which we have 

 acted in the purchase of these securities. 



Bonds are offered subject to prior sale and advance in 

 price. 



McCOY & COMPANY, 



105 So. LaSalle St., 



Chicago. 



EXHIBIT NO. .3. 



Lyon, Gary & Company. Lumbermen and Bankers, Chicago. 



$1,500,000 Linn & Lane Timber Company (operating in 

 Oregon) 6 per cent. First :\Iortgage Serial Gold Bonds. 

 Dated June 6. 1910. Due semi-annually Dec. 1, 1911, to 

 June 1. 1927. Redeemable at 1024 and interest,' in 

 whole or in part, on any interest day, on ninety days' 

 published notice. Principal and interest payable in 

 Chicago June 1st and Dec. 1st. Coupon bonds of 

 $1,000 and $500 each; may be registered as to prin- 

 cipal. Union Trust Company of Chicago, and F. H. 

 Rawson, Chicago, Trustees. 

 P>rlncipal and interest guaranteed by endorsement bv 

 Charles A. Smith. INIinneapolis. :Minu. 

 For fuller particulars regarding these bonds and the 

 property under the mortgage, we refer to the letter ad- 

 dressed to us by the guarantor. Mr. Chas. A. Smith, printed 

 on the following pages. 



Copies of the opinions of the timber experts and of our 

 attorneys covering the validity of the bonds and the lien 

 of the mortgage on the lands and timber, may be seen on 

 application at our office. 



