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20

This is what will be necessary to enable the com-
pany to ship 250 tons per day to Chicago, and to sell
100 tons per day to the trade at the mines.

How it is proposed to pay for the mines and im-
provements:

First, we pay in cash or short time,...$175,000
In bonds of the company maturing in 2, 3, 4, and 5 years, at
8 per cent. interst per annum,....100,000
—
Total cost of property as it now stands,....$275,000

How it is proposed to use the funds subscribed for
the stock of the company— say $500,000, 60 per
cent. paid in, $300,000:

Cash payment on mines,...$175,000
Additional Railroad coal cars and Pit cars necessary for the
business,....58,000
Additional dwellings for miners,....6,000
For yard and offices in Chicago,....11,000
For working capital,....50,0000
—
$300,000

How it is proposed to liquidate the Bonded debt of
the company:

The redemption of $25,000 stock each year, after the
organization has been perfected one year, will enable
the comapny to dispose of this stock for that purpose.
Should the investment prove profitable, there is no
doubt but that the company could realize enough from
the sale of this stock, to meet its bonds. If this
should not be thought advisable, the stock can be di-
vided among the stockholders, and a sinking fund
created for the purpose.