BOND CIRCULARS 405 



Charles M. Smith & Company, Bankers, First National 

 Bank Building, Chicago. Long distance telephone 

 Randolph 1946. 



EXHIBIT NO. 11. 



We own and offer at par and interest $500,000 first 

 mortgage 6 per cent, serial gold bonds Parsons 

 Pulp «6; Lumber Co. of Parsons, W. Va., and Phila- 

 delphia, Pa. 

 Principal and interest guaranteed by William Whitmer 



& Sons, Inc., of Philadelphia, Pa. 

 Girard Trust Company and Charles J. Rhoads, Esq., 



Philadelphia, Pa., trustees. 

 Dated November 1, 1909. Coupon bonds, $1,000 and 

 $500 each. Principal may be registered. Bonds 

 mature serially each six months. Principal and 

 semi-annual interest (May and November) payable 

 at Girard Trust Company, Philadelphia; or Central 

 Trust Company, Chicago; or Bank of Scotland, Lon- 

 don. 

 Bonds mature serially each six months from Nov. 1, 

 1911, to Nov. 1, 1924. 



FINANCIAL STATEMENT. 

 Capital stock and surplus Parsons Pulp & 



Lumber Co $3,610,039.45 



Estimated value of property covered by 



this bond issue 9,324,034.00 



Bonds authorized $3,800,000 



Escrow bonds (can 

 be issued only 

 under strict pro- 

 visions of Trust 

 Deed for pur- 

 chase of addi- 

 t i o n a 1 timber 

 lands and im- 

 provements) ..$500,000 

 Bonds matured, 

 paid and can- 

 celed 1910 195,000 695,000 



$3,105,000 

 Reserved in treasury, Wm. 



Whitmer & Sons, Inc 300,000 



Bonds outstanding, including 



amount now offered $2,805,000.00 



