404 TIMBER BONDS 



J. F. Prendergast, President. 



O. S. Rapp, Vice-President. 



W. S. Probst, Secretary and Treasurer. 



The directors are: G. W. King, J. A. Schroeter, F. 

 A. Huber, W. E. Scofield, W. G. Harding, C. W. Leffler, 

 J. F. Prendergast, O. S. Rapp and W. S. Probst. They 

 are leading business men of Marion and officers and 

 principal stockholders of such corporations as The 

 Marion Steam Shovel Company, Huber Manufacturing 

 Co., Marion Water Co., Marion County Telephone Co., 

 Marion National Bank, Fahey Banking Co. and City Na- 

 tional Bank. 



SINKING FUND. 



The trust deed provides that before any timber is cut 

 the Company must pay to the Trustee as a sinking fund 

 for the redemption of bonds, $3.00 per thousand feet, 

 according to the timber estimates on file with the Trus- 

 tee. After removal of timber the land may be released 

 by the Trustee on payment of $3.50 per acre into the 

 sinking fund. 



The sinking fund is sufficient to retire all the bonds 

 before sixty per cent of the timber mortgaged has been 

 cut. 



FIRE HAZARD. 



Timber located in the southern states has never been 

 destroyed by fire. Absence of undergrowth and height 

 of trees render any serious fire damage impossible. 



EXAMINATION. 



Before purchasing this issue we made a thorough 

 personal investigation of all of the conditions on which 

 the security depends. All titles to the property have 

 been carefully examined and approved by competent at- 

 torneys, under whose supervision the mortgage was 

 drawn and the bonds issued. 



Copies of trust deed, attorney's opinion, detailed 

 timber estimates and other data pertinent to the issue 

 may be seen at our office. 



All statements herein are official or are based on in- 

 formation and data believed by us to be trustworthy and 

 reliable, and while not guaranteed, have been accepted 

 and acted upon by us in the purchase and appraisal of 

 the bonds and the property securing the same. 



Bonds are offered subject to prior sale. 



Bonds will be delivered where desired, express pre- 

 paid, with exchange. 



Telegrams may be sent at our expense. 



