BOND CIRCULARS 421 



timber at 168,400,000 feet, log scale, the appraised value of 

 which is as follows: p^^^ Per 1000. 



Yellow Pine 71,275,000 $3.50 $249,462.50 



White Pine 30,425,000 6.00 182,550.00 



Poplar 13,705,000 12.00 164,460.00 



White Oak 11,660,000 6.00 69,960.00 



Red Oak 14,885,000 4.00 59,540.00 



Other Hardwoods 26.450,000 77,160.00 



Oak and Hemlock Bark, 6.635 cords 6,635.00 



Oak R. R. Ties, 127,500 pieces 12,750.00 



$822,517.50 

 FINANCIAL STATEMENT. 

 (Before issuance of bonds.) 



ASSETS. 



Quick assets — cash, bills and ac- 

 counts receivable, manufactured 

 lumber and merchandise $120,564.12 



Standing timber 800,000.00 



Real estate (store, office and dwell- 

 ings) 23.427.79 



Logging railroad and 



logging equipment . .$117,239.78 



Saw and planing mill. 62.879.89 



180,119.67 



$1,124,111.58 

 LIABILITIES. 



Accounts payable $26,951.88 



Bills payable 197,999.76 $224,951.64 



Capital stock 275,600.00 



Surplus 623,559.94 



$1,124,111.58 

 The above statement does not include any valuation on 

 about 33,000 acres of land owned in fee simple. 



PURPOSE OF BOND ISSUE. 



The proceeds of the bonds will be used to pay balance 



on timber purchase (included in bills payable account), 



retire floating indebtedness and provide additional working 



capital, leaving the bonds as the only debt of the company. 



HISTORY AND MANAGEMENT. 

 The Conasauga Lumber Company was organized in 1907 

 by well known and successful lumbermen of Nashville, 

 Tenu. These men, now members of its Board of Directors, 

 are: 



