400 TIMBER BONDS 



Merrill, Wis., July 24, 1909. 

 Messrs. McCoy & Company, 105 S. LaSalle St., Chicago, 

 111. 

 Gentlemen: — I am president of the Heineman Lumber 

 Company, Heineman, Wis., which business was begun in 

 November of 1902, as a co-partnership consisting of my- 

 self and H. H. Heineman, the latter having a working 

 interest in the business and managing the same under 

 my direction. The business was run as a co-partnership 

 until the fall of 1908, when it was incorporated under 

 its present title. 



The properties of the original co-partnership included 

 some 5,000 acres of land together with a small mill and 

 store, hotel and a few dwellings, and since that time the 

 holdings of the company have been increased many fold 

 in its timber and land department and the mill plant has 

 been remodeled and its capacity increased nearly three- 

 fold. The policy of the co-partnership has been so far 

 as practicable to retain its timber holdings, and to that end 

 a large part of the production in the early years was ob- 

 tained by purchases of logs from settlers and others. 



Since the beginning of its business our company has 

 been instrumental in opening the surrounding country, 

 and the laying of sQme fifty miles of track through its 

 lands has served the double purpose of making its timber 

 holdings accessible and of settling and appreciating the 

 value of its cut-over lands. 



I have been actively identified in the lumber business 

 and in the land business in various companies since 1886; 

 and Mr. H. H. Heineman has been actively engaged in the 

 lumber and land business for the past ten years, including 

 all branches of lumber business from the logging to the 

 sale of the product. I reside at Merrill, Wis., and Mr. 

 H. H. Heineman at Heineman, Wis. Mr. H. H. Heine- 

 man is treasurer of the B. & S. Heinemann Timber Com- 

 pany. 



The Village of Heineman consists of sixty dwellings 

 for employees, store buildings, hotels and has an up-to- 

 date band saw mill and planing mill. The entire plant is 

 equipped with electric lighting, water works and steam 

 heating supplied from the saw mill plant; and the plant 

 and yard cover approximately 200 acres of ground. 



In addition to the lumber business, conducted at Heine- 

 man, Wis., the Heinemann Lumber Company are whole- 

 saling the product of several other northern mills. 



Exclusive of any equity which I may have in the B. 

 & S. Heinemann Timber Company my net responsibility 



