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'/ (limited •>-*a»««- A ('ompanv iiKi)r|M»rattMl uikU'I- "TIio Oiitiirin .Iniiit Stock ('(Hiipanu's' Li'ttcrs Pati'iit Alt," with an aiitlmri/ctl capital of iji 1, 000,000, tor the piirposoot'aiiial^aina- tiiin aiul i-onsolidatiii^r tlic liinilioiiii^ iiitcn'sts lu'ivinafter nii'iitioiicil, and for the workiiiff of the saini\ and for the ;,'iMK'ral inaniifacturc of hnnltcrand other jadducts, in aci'onhinir with the powerw jjivon to, ami confonvil on said C"oin|)an,v l>v the Charter tlicrcof. For the pnrposes aforesaid there have been ainal^^aniated and consolidated, the hnnlierin^ and pine timher properties followinj; : — 1st. The l^i.i.YitT, Sadi.ku it Comi'Anv pine timber limits, mill, and properties, (for particniars of which see pa},'e i ). •Jnd. The SMriH k McDoicam, pine thnher limits and properties, (for partic- niars of which see paj^e -j ). :{rd. TheCiiiiiis it HKATfY pine timber limits and properties, (for jmrticulars of which see pajj:e ;.' ). DESCRIPTION IN DETAIL OF THE FOREGOING PROPERTIES. I. The "ri.i.vor, Sadi.kh it Comi'anv" property, owned and worked by Daltoii iniyot of l'eterbort»uj,di, William Needier and Thomas Satller of Lindisay, and |{obert Charles Smith of Port Hope, consists of: {ii\. \ larjj;e steam .saw-mill, sitnated at Harwood. on Hice Lake, in the County of NortluMuberland and Province of Ontario. This mill contains .'> oates, (vi/.. •J slabbers, -J };an^s ami 1 yankee), tof.(ether with edyers. trinnners, lath and picket mills, Ac, Ac, and is capable of cuttinj; I'OO.tMK* feet in every :i4 hours. It is driven by four eiif^ines. two of which are direct attachment en^'ines, each of :{.") horse-power, a third (»f 'JO horse-power, and a fouith of .'>.") horse- power, supplied by a battery of six larj^e tubular boilers. {i>). To this property is attached '1\\ acres of land and i:{ tenement hoii.ses, ami the property is connectt"d with the Cobonr^, Peterborou^di A: Marmora liailway by tracks and switches. The mill has booms for the .stowage of a hu^e num- ber of 1oh;s, an horses, slei;;;hs, wap>ns, and all the reipiisite material, appliances anduuttit for earryin;; on a larj^e ami-extensive lunil)er business. 2 (f). Witii till! proporty in, besides tlio ttMu-im-iit Imiiscs, a sti»r(«iK)us»' iiihI uHitc in lVt('rl>oroii}^li. (t/). The pino tinilu>i- limits nnisist of : S<|imio MilcH. AcreH. (n.) In the Townsliij) of Anson HJ 7,520 (b.) In the Township of OalwHy 2.'1 H,7i(l (c.) In the Township of Snowden 1 040 ((/.) In the Township of Hnrvey 5 3,200 (e.) In the Township of Burleigh :W 24,320 (/.) In the Township of Anstiuthpi- M8 24,320 #»«f, 74,720 YW The ahovo limits, from a rocciit icliahli' inspection, air estimated to con- tain 85,0C)0,CXX) feet of gooa merchantable pine timber, and in addition eontain alarj^'e inuintity of other woods valnalile for Hailway ties, poles, fence posts, i^'jricultural implements, Ac, &c., and these limits are easy of acci'ss and can In; »vorked to advantaj^e. •J. The "Smith & M«I)oi(;.\i,i" property, owned l>y Hoi)ert Charles Smith, of the town of Port Hope, and Malcolm McDon^all, of the Villa^re of I'arry Har- bour, in the district of Parry Sound, consists of: (a.) Boith No. 90: 30 scpiare miles on thi; Wliite Kish liiver. (6.) " 09 (c.) " 40 " " Wahnipitii- " (rf.) " 46 " " (e.) " 47 " " " (/) " 52 " " " (g.) " 3 : 44 '• '• Stnigeoti " (A.) " 1:44 •• (i.) Fi-oui 30 to 40 acres compiisiiig the piirt of the Vill»ge of ('o|jonaning iil llic iijoiilli of the Fifiiih River, for a mill site. (,/). All the plant of the Sftiil Smith tt:Mcl>oiigall. i:^These limits contain in all 304 square miles or 104,560 acres, I are leported by a recent anil careful ins|)ection to contain 200,000,000 feet. X. H. - The White Fish Kiver enters Lake Huron on (icor^nan l>ay, in the neij>hbourhood of Laeloche Island. 'I'he Wahnijiitic Hiver i-nteis the Kri'iich Itivei- near its mouth on the (ieorfj;ian Hay. The Stnr^jjeon Hiver enters Lake .Nipissin;^. These rivers on which are the.se limits are lar<,'e broad streams, an Milcd. Ai'ii'n. Piwt. (ii.) Tilt' i'llvott, Sa»lk'i«S:('t»iii|)aii,v's" limits. . IIU^ 74,ri'o s.'t.tMMMMM) f^/'J The 'Sinitli and Mil)oiif,'aU" " :M»4 l»4,.VI0 '.'(MMMMMMMJ (:t,tilM) 4«(0,(KKMHH) N. I{. Tli('('oni|mn.v Itflicvc, tor tlic reasons ]it'r(>inat't<>r^riv(>n, (|Hijri. .-, ), that the ai-lnal i|iiaiitity cannot !»■ Ii-ss than .'>(H),IHHM).) The other plant 1 •_*.()()() (<•.) The limits S.-..()()(),(HM) Icct «» .xi' per l.(MK) ffft, .stunipa;;e slTIMMM) !^-_':li',0()(» ■J. The " S.MiTH & .McDoro.M.i." Puoi-kutiks. (»/). l'()(),()()(),()(M) f'ci'l of pine timlu'i' ui !*\.M) per 1,000 fi'ct, stnmpaj,'*' :10(),(»00 ;>. The "till, IIS it HkATTV" I'liol-KIITIKS. {'I.) ir.'»,(M»0,()(»Ofcct of piiu'timltiT ('( s|,.-.(ip,'r 1,000 feet, slmiipa^;t' M'2,.>iM The picsi'iil total value of the property, in its present shape, at pie.sent priees, with the pint> — ;,'ro\viii<,' and .standing', is therefore .■«7{l4,.'tO() When properly worked and managed the foieH;(.iiijr piopeity is vast l\ iKore valnaltle, thus : l''rom the ai»ove limits 4»iO,( MM ).0()0 feel l.ojird inea.siire of limiher laii lie ol)- tained. .\fter dediutinj,' all expeii.ses of (•utlin;^. ileliveriii«r at the mills and manii- failnrin^' the pine into hinilier ready for marUet, it will yield a sure prolit of .««:t.0() jier 1,000 feet, llenee the value of the properly, if properly worked and nianajied, is 4«)0,000,000 feel «/ .s:t per 1,000 feet profii .«<1,:{hO,000 4 " •• . I,S40,0(M» " " .'> •' " l',:!(IO,(KM) " " « " " •_',7 and !?«> per 1.000 feel proHl. Hut eaieulate at a profit of only 8-' per 1,000 feet, and at that profit, olitained ill limes of depri'ssion, the value of the properly, if proju'ily worked, is 460,000,000 feet «i !$:.' jier I.OOO feet prolii $920,000 Mi;m. It is to he oh.served, too, that the.se values are outside of any vahui at all iieiu",' put on the mills, mill-property, machinery, hor.ses, plant, iVc, iVc, which necessarily would be most vahialilo. The said ('i)iii|miiy IiuhIuu'ii fornuMi I'of tlio |)ui'1m)h«> of working and ifalixiiiK ii|Miii tlic Maid |)ri>|i(>rti('s and limits ; hut, in order to do so, tiu> Conipany r(><|uiiTH aipital, and tiicrclorc tlut sovoral pailics aforesaid have liy instrument dated tlic Kiglith day of August, A. 1)., IHKI, aKi'eeti to sell t«) tlio above Coin- |mny the aintve vahiahl(> and renuuierative pro|)erties for the total sum of $:i7>'>,(MH), acronlin^ to the terms and conditions contained in said ap'eement, payahle liy cash to the amount of $1h7,.'i04), and an aUottnient of stock in said Company to the amount of $Ih7,'>()0; the aforesaid parties thus them- selves retaining one-half in stock in the said Company. There will, therefore, re quire to he raised (over and altove a sum reipiired for working capital) the said sum of ji|H7,.")()0. With a working cai)ital from this source of (say) «iIl'."),tMM), there will require to l>(> raised in money .^Urj,r)4)U. The paid-up capital at th(>se ti^nires will then Im! SCOO.CMK). J^Attention is drawn to the fact that the aforesaid parties handing' over to the Company the said properties for .^:{7."),0(J(), the Company become the owners thereof at the i-xceptionally low tinnre of Hlf^ cents per 1,000 feet stnnipaj,'i', iii<-/iiii- iiHj the mill property, mill-sites, plant, etc., etc. The Company propose to cut 40,000,000 feet every year for 10 years, so as to clean the limits in 10 years' time from the conmiencenient of operation.s. Now a proHt of «:{ per 1,000 feet on a cut of 40,000,000 per year will realize each year ."00 )*40,000 Also each year there nuist he laid asitle a sum to form a Sinkinjf Fund to repay the capital at the end of 10 years: the sum of 8:5."),0O0, if laid aside each year for 10 years, will produce at .") per cent. compound interest at the end of that time the sum of !i>407,"2I{7.:J7. To make smv provision let there he lai<' ^'**<*^ "' iiiaiiiit'iictiiriiii,' liiiiilicr, iii'<> taken IVdiii the pniMpt'ctiiM o|' "Til)' KritiMli ami Caiiailiaii l.iiiiilMTiii^ ami TinilM'i' ('niii|iaii,v," aiitl an> )Iim'Iii«'iI artiii-att' ami rt'liaMc* : CiiitiiiK ami |inttiii){ lu^'s on in> b'J >*(i Driving lu^'s down stream ami towing to inillH 7A Crown tliicM "•*» Sawiii^r into Ininiici', piling; ami shipping I ••*' LoHM in mils Jifl Intci-fst at H per icnt. on .'*4 .'•(( lor one year !JB I'ontinp'mif.H 14 i«»t no Tilt' t'ollowinj; int'tliod of fstinialiiiK the i'o>l pt'i' l.tKX) Icct is prcl't-rn'il. The niMt '\H iiuTcascil, in oril*>f to lit> sal'r, an<| for (sec statrincnt showing,' proHt of >*:l,) at tin* prin- tlu'V would iuinn "as tiills.'' and proportioning; the mils at the larp' avcraj,'!' of '2'>i) ffct to j-vt-rv l,(MK) tret. Cnttiii},' ami putting li^'s on ire •"*I1 <'(» Driving' lo;,'s down strt-aniand towinj; to mills I <•<) Crown dues (always fixed) '. "•'' Sawinf,', piling; and shipping' \ 'M Continjiemies 1*» iiisnrai'.n' per 1,(100 leet for two months 05 lnter»'st on money ^S STATEMENT SHOWING THE LOW PROFIT OP $3 PER 1,000 FEET. 7."»0 feet of nieithantalile Innilier I" !*ll.ll per M •"*^ '•^'•^ ■2M •• mil " :».(»0 •• 1 *-*.") I>ednrt aliove eost of inamifaetmin^' per .M •' "'^ Leaving; the aforesaid profit nf if'-i 00 THE QUANTITY ON THE ABOVE LIMITS. It will have Iteen seen that the estimated (juantitv, an«0 .s7:),.-,:>0 437,700,000 When applied to "(Jil»l»s & Heatty's" limits, ,:mkes ls4,:V.'0 Hl>l»,440 414,720,000 Or, (m these two limits alone y7H,HH0 1,704,0:)U ,s.VJ,4SU,000 6 Add to the alinvc llif iutiinl <|uaiitity oil " lllyot, Satllcr »& ('ompanv's" limits Ami tlif total quantity on tin- limits j)iol)altly is s:),(MK>,000 tt:J7.4H(t,Otl(» The following is a statement of recent sales of pine lands and limits, taken from the Chicago "N. W. Lumberman, " since 1st Jan- uary, 1881:- " 1,000 aiiTs of pirn- land in llic State of Miilii-an .•.■.•.•iitiv >ni.iror !>ls.(MM). or .$18 I KM' ain'." (Sec "N. W, LiiuilH'iiimii" ol' •J.'inl July, IsSl.) •'4,-.'S0 am-s of pine land in tiic Slat.- of Midii-an, .■stiniati-d t.. contain :!:.,(KKM)(K> fi-ct. mrntiv sold for si •_'!, •_'.-.(), or npwaids of s-js p.-r anv, or nearly !?:5 .')(> per i,0(K» feet sliinipa,i;c." («iT "N W. I.uiiilicrninn" (if -j:!!!! .luly, 1S81,) ••<540 aeres of pine laml in the State of Mi.hi-an reeenlly sold for s-_'0„-,()(», nr over ?<:5:i per aere." ^SiT "N. W. LuiiilMuiiiHii,' 2:ticl.1uly, 18f..■ ft,.' f.«. '"".^1 1..'..."..^'' -^ ."» ""-: ""'•■• t«";::,"r";ii-,':i..-: *,:;:;',:: iXa Ottawa iK'ai- Kiv«r M.ulawaHka, in htytiMnber \»>», to .UcLautnnu 7 C'olwell of ( 'iiilctoii Pla';t', for rJlSO.OOO or 1*600 por iiiilu. 'I'Iichh limits Imil bwii cut over for twfinty ypftrs. (."i). " JiiincH Kinliiy of Hciiclilmri,', solil to Mr. lioolli of < tttawii, .'V,l s(|miic miles of liiiiitN on the Upper Ottawa, just, aliovc Pcuilirokc, luid within Ki'fpiiwiiy limits, for 8i).">,IIOII, en- iibout 81, IK) pur iiiilf. ThlH milfi took phuM! ill Octolicr |S78. TIiusk limits liinMiccii out over for ii coiiHiiUMiiblo numlmr of yrars. (ti). " Messrs. Cook Bros, solil a limit |."i sipian^ uiih^s, uku I5nij<' Mines ;mil Snult St. .Miirie on the iioitli shoio of L-ike Huron to Messrs. .Mi:.Vrthiir I'ros. lust yi-ar fur .*2.'i,O00 oi over 81,''iO() p(!i- mile. (7) " .Messrs. Cook Bros, also Kolil a limit, of 11 miles in the Muskoka Distriel lo Thomas 1). Ilooil of Woodstock, in the Proviiue of Ontario, for 1 1.IUM). oi l,(MHl per mili. This sale took plate in Septeinlwr 18711. The limit was in the Townsliipof Hniuphiey." (A). "MeRsi-H. Cook IJros. also solil the staiidiim pine (red and white) on -200 acres, in the Township of Tiny, in the (.'oiinty of Sinicoe, for .■|<.'i, (1(1(1 or .■*!.'. per acr.'. This miU- took |ilaee in the year 1878. All the sipiare Timber li»d l*-eii previously cut off this lot." (9). •■ Messrs. Cook sold in the year lilMI acirs in the Towiisliip Medonte tor .* l.tJdO, or eipuil to ^-JO |>er acre." (Id). Mr. H. Cook also sold the pine on IdO acres in the Townsl'ip of Tossorantio, in the Co.mty of Siiiuoe, ill lH7i), for .*4,(Mld. This lot had at the time been cut over I'm- rafting slu If for the past ll! years. (11). " .Messrs. Hill I'.roN., of Sajjinaw Cay, lately purchased of Messrs. Hlanehard ^ !Son, of Crand Kapids. U,(ldd acres of pine lanils in Monlcalin Couniy, Michigan, foi 87J,."illd, or at ,i price exceeding .'f.'id an acre. The following account of sales of lumber in the log i> taken tiom tlic Cliica.i'n •• N. \V. I.iiiiiln'iniaii." uimI slifws tlic |iiitc niitaiiial>lc tor Imiilifr in the log: '• .\ii iiHci' of s!) per 1,(100 for (i.ODO.OOO frci of iiiiic lo^.s was ilccliiit'il at Sa-iiiiiw, .Mitli., .Ma.v titli. Issl." ■ .\ sail' of s,(K)0, (»()() fcft of saw io^s was iiiailc at Sa-iiiaw rci/ciitly, at inivalf tt-niis, sii|i|»os('(l to lie .■sl», as llic loi i> a uooil one." •■ Duniiit, Wlu-clcr tV Co., of ,'V ll.tlclii'lilfr at ss ; ItlO.OOO feet of luniliiT to till' St. Croix Liiinlicr Co. at s;7 and sr.TiO . and Kll),()(ll) feet to otlier [laitit's. foe |iavin;.i pnrinist's, at Si;!. .'id." The following account of sales of maniifactured lumber siiow tliat llu' protil of s:! per 1.000 feet, c-.liniatrd at pa-c 'i. i.'- witliin tin- actual profit : •'riif .Moni'tarv Tinics of Toronto last >prino .(noted ln'st rlcai' ami puUinos, SL>N.(s:tO- dicssin- and enttinoiip stnir, .si:)«/ Is. jiiid eull stnil ."^10 and iiiiwanls, aeeordiuji' to ientitli. The cut of the Fenelon Falls Mills for 1880 was sol' at i'mt lloiu-, I". (>. !'.., at h.r euils. per 1.000 feet -"^^ •"'_' i'of sliippinu Inndicr. per 1,000 feet part '=! -•"' •• 14 •_'.. .\\('ra;iinu all lonnd ■"^'•' '_'^ Dednct frei-lit aiid cliar-es per l.uiMi feel ^ '■' |{eali/ed per I.OOtl feet at tlie niiils all ronnd ■■^1- 00 r.oo.ooo feet ..f I'ieee Hoards of tlie Fenelon Falls cut of 1881 sold at I'ort Hope. i'. « ». \l. for. . . . «14 00 DtMJiiet iliar;,'es asaltove ' '*' licali/ed per 1.000 feet at the mills •■^'- -•' m H The cut of "UUyot, Sadler & Company, " 10,000,000 feet, for i880, was sold Jit Coltomji, V'.O. U., at For shipping; liiiiiltt'i'. per M !<1."i (M) For culls " 7 .')() Avt'ranin;f all roimd .si:{ 7'> KiMhu't trt'i^,'lit aixl cliarjjo.H tVoiii .Mill 1 0") Kcalizftl jHT 1,000 I'cft at the mill all ntniul •'^ll' "0 The cut of "UUyot, Sadler & Co." for the year 1881 isalM.ut 1:5.000,000 ol' sliip|)in,'s at ."<17 per .M. Of this amount the Diamond .Mateh Works, O.skosh, t(jok :!,:»00,000 feet." (N. W. Lumbeiiimn, July, ISH\.) Ii m p en QTQ r c en z o in: d: o > S > o o < .< ? H -5 3 C. -i 'M v. 'M W S S S: » » ?▼ r» e^ ■?* ■z I I I I till! C -C ►« -t = ' E 5 X r X i y. -^ r V. r- — e 6 ^. ■i ^ -< " K y _j " * - ^ - y. — =■ ^ Cr fr =• r x -! 5 5 S 2 £ I" I c c 5 ^ r> 2. _. O -5 p ^ s 'i^ 'f- i 2 I Wv;^ww+--'CJ ti tC 1^ ^ 4- — ti ti ^ w* V 4k *., -M ^1 ■D 7D D ■D