BOND CIRCULARS 431 



LEGALITY. 



The mortgage has been drawn and the titles to the 

 timber covered by this mortgage have been passed upon 

 by Hon. Charles B. Wood of Chicago. Adequate insurance 

 covering the mill and equipment is pledged under the mort- 

 gage. 



FINANCIAL STATEMENT. 



Financial condition of the Company after the proceeds 

 of bonds are included, is as follows: 



ASSETS. 



Standing Timber (20,000 acres owned in fee) $420,000 



Sawmill Plant, Equipment, etc 175,000 



$595,000 



LIABILITIES. 



Capital Stock (fully paid) $172,000 



First Mortgage Bonds (this issue) 125,000 



Surplus 298,000 



$595,000 

 We offer only such bonds as we consider suitable for the 

 investment of our own funds. All statements in this cir- 

 cular are our own opinion or are based on information 

 which we regard as reliable. Bonds will be delivered to 

 any responsible bank, charges prepaid. Telegrams may be 

 sent at our expense. 



ALLERTON, GREENE & KING, 

 Chicago. 



EXHIBIT NO. 18. 



CHARLES M. SMITH & COMPANY, 



Bonds for Investment, 



First National Bank Building. 



Chicago. 



This issue of bonds is secured by standing timber, a nat- 

 ural product being consumed more rapidly then it is 

 being replaced — a security constantly increasing in 

 value. The arrangement whereby a portion of the 

 bonds is paid every six months, beginning October 1. 

 1911, Increases the security back of the outstanding 

 and later maturing bonds. 



We own and offer: $150,000 First Mortgage 6 Per Cent 

 Serial Gold Bonds of the 



WYATT LUMBER COMPANY, LIMITED, 

 Wyatt, Louisiana. 



Due serially as shown below. Interest coupons payable 



