BOND CIRCULARS 403 



FINANCIAL STATEMENT OF COMPANIES ISSUING 

 AND GUARANTEEING BONDS. 



November 30, 1910, before issuance of bonds. 



ASSETS. 



Cash in banks and on hand. . $ 85,922.17 



Accounts receivable 125,649.25 



Lumber, logs, merchandise 



and otlier current and 



working assets 199,240.07 



Quick assets $410,811.49 



Stumpage, Polk County, 



Tenn. $1,456,000.00 



Saw mill plant, railroad and 

 logging equipment, etc., 

 in Polk County, Tenn... 519,390.57 



Real estate in Marion, Ohio, 

 and saw mill plant and 

 stumpage in W. Virginia. 65,300.14 



Furniture and fixtures, Ma- 

 rion, Ohio 1,500.00 



Fixed assets $2,042,190.71 



Total assets $2,453,002.20 



LIABILITIES. 



Accounts and bills payable $439,778.26 



PURPOSE OF BOND ISSUE. 



The proceeds of the bonds will be used to pay bal- 

 ance on timber purchased (included in bills payable ac- 

 count), and retire floating indebtedness, leaving the 

 bonds as practically the only debt. 



HISTORY AND MANAGEMENT. 



The Tennessee Timber Co. has taken over from The 

 Prendergast Company its Polk County, Tennessee, timber 

 lands and plant. Its capital stock is owned by The 

 Prendergast Company, and the officers and directors of 

 both companies are practically the same. The Prender- 

 gast Company was organized in 1907 and succeeded to 

 the business of the Prendergast Lumber & Coal Com- 

 pany, of Marion, Ohio, which had been for over twelve 

 years prior to this change in name, profitably engaged in 

 the wholesale lumber and coal business at that place. 

 The officers are: 



