BOND CIRCULARS 373 



the coast. Map showing locations of these lands can be 

 seen at our office. 



The bond issue also covers the two saw mill plants 

 owned bj' the companj', and located at Marshfleld, Ore., on 

 Coos Bay, one of the best harbors on the Pacific Coast. 

 (Complete description of mill property will be sent upon 

 request.) 



The greater part of the proceeds of the bond issue will 

 be used to build two large lumber manufacturing plants 

 and standard gauge railroads in connection with the timber 

 lands in California referred to above; all of this acquired 

 property becomes subject to the lien of these bonds. The 

 balance of the proceeds is to be used to retire floating 

 indebtedness. 



TIMBER ESTIMATES. 



Careful estimates of the timber have been made in detail 

 by expert timber estimators and verified by our own 

 cruisers, in charge of Mr. W. E. Straight, a well known 

 and competent timber estimator with over twenty years' 

 experience. (Detail estimates can be seen at our office. 

 Copy of our cruiser's report will be sent on application.) 

 These estimates are summarized as follows: 



Acres. Feet. 

 Coos, Curry and Douglas Counties, 



Oregon 61,760 3.187.585,000 



Lincoln County, Oregon 10,640 651,335,000 



El Dorado County, California 53,320 1,473,087,000 



Humboldt County, California 30,480 2,503,555,000 



Total 156,200 7.815,562,000 



Average per acre of 50,035 feet, log scale. 

 Above total estimates consist of the following: 



Redwood 1.781,170,000 feet 



Sugar pine 663,070,000 feet 



California white pine 439,690,000 feet 



Fir 4,233,177,000 feet 



Cedar 242.890,000 feet 



Spruce 264,580,000 feet 



Hemlock 190,985,000 feet 



Total 7.815,562,000 feet 



These estimates are based upon log scale of uncut mer- 

 thantable timber. The timber is of exceptionally good 

 quality and the whole situation is favorable from a logging 

 and lumbering standpoint. 



