BOND CIRCULARS 3»5 



FIRST MORTGAGE 6 PER CENT SERIAL GOLD BONDS. 



Dated June 1, 1909. Maturing in series as below. Callable 

 on December 1, 1910, or upon any subsequent interest 

 date, at 102 and interest. Semi-annual interest payable 

 at the Continental National Bank, Chicago. Coupon 

 bonds with privilege of registration as to principal. 

 Denominations, $500 and $1,000. Principal payable at 

 the office of the Chicago Title and Trust Company, 

 Chicago. 



Chicago Title and Trust Company and Wm. C. Niblack, 

 Esq., Chicago, Trustees, 



CAPITALIZATION. 



Capital stock $250,000 



Bonds authorized and outstanding 400,000 



These bonds are guaranteed, both as to principal and 

 interest, by Mr. B. Heinemann, president of the National 

 German-American Bank of Wausau, Wis., and by Mr. S. 

 Heineman, president of the National Bank of Merrill, Wis. 



MATURITIES. 

 $40,000 due December 1, 1910 $40,000 due December 1, 1915 

 40,000 due December 1, 1911 40,000 due December 1, 1916 

 40,000 due December 1, 1912 40,000 due December 1, 1917 

 40,000 due December 1, 1913 40,000 due December 1, 1918 

 40,000 due December 1, 1914 40,000 due December 1, 1919 

 Price, any maturity: Par and interest. 



MORTGAGE. 

 This issue of bonds is secured by a first and closed 

 mortgage to the Chicago Title and Trust Company and Mr. 

 Wm. C. Niblack, trustees, upon 29,920 acres of virgin tim- 

 ber lands, located in Langlade, Marathon and Lincoln coun- 

 ties, Wisconsin, owned in fee and conservatively estimated 

 to contain 207,458,000 feet of merchantable timber, besides 

 270,515 cords of cord wood; 44,950 cedar telegraph poles 

 and 117,700 cedar posts. The mortgage is also a first lien 

 upon the two complete saw mill plants of the company, 

 one located at Lumberton, four miles from Antigo, Wis., on 

 the Chicago & Northwestern Railroad, and the other at 

 Heineman, Wis., on the Chicago, Milwaukee & St. Paul 

 Railroad. It further provides that these plants shall be 

 fully insured and the policies deposited with the trustees 

 for the benefit of the bondholders during the life of any of 

 the outstanding bonds. 



