ing the unproductive period, we gave to our early shareholders Convertible Certificates, each certificate representing a 50 per cent. extra dividend on the amount of his investment. As the Company is now in a position to earn interest on a reasonable amount of bonds, I suggest that the Directors consider the advantage that will come to the Company from the saving of interest through the lower rate which would be made possible by a bond issue. To provide for the present year's plantings the Bartica Company could issue at par ten-year exchangeable bonds paying 7 per cent. interest, payable semi-annually, this bond to be redeemable in cash on call, at any interest period at 110 per cent. and accrued interest; the holder to have the right at any time before maturity of the bond to exchange this bond for shares at par; should the bond be called before maturity, the holder to have the privilege for sixty days after call to exercise his option of exchanging his bond for shares. Two hundred and fifty acres of sisal on the company's property have now reached the productive stage. The sisal will return within the first year a net profit of about eight thousand dollars and the monthly yield will increase each month for two years, by which time the first rubber field will come into bearing. This enables the Company to offer a security which gives an income of 7 per cent. per annum until the rubber production enables the Company to pay dividends in excess of 7 per cent. And when the bonds are exchanged for shares, this income will be increased from year to year, until it exceeds 50 per cent. per annum on the investment. The proposed issue of bonds would find a ready market, for investors have come to realize that no agricultural investment is so secure or offers such large profits as rubber planting. As an instance of the Company's advantage in the proposed plan, I would call your attention to the experience of the Malacca rubber plantations, which, in November, 1909, out of a total authorized issue of £400,000 ($2,000,000.00) in £1 ($5.00) shares, issued: Seven and one-half cumulative par ticipating preference shares...... £115,000 ($575,000) They then issued £500,000 ($2,500,000.00) in 6 per cent. bonds in November, 1909, giving holders the right to the 30th of November, 1914, of exchanging each £10 ($50) bond for one ordinary share of £1 ($5.00) par value. These bonds are selling at par and the ordinary shares of the Malacca Company are selling £11 ($55.00) bid and £111⁄2 ($57.50) asked, showing that the stock has already reached conversion value. It will be obvious to all that in the case of the Bartica Estates, with its exceptional advantages in climatic and soil conditions, the rate of increase in share values will be such that when the subsequent yearly bond issues are made, the exchangeable value of shares will be in a rapidly ascending ratio. Therefore it would not be advisable, in my opinion, to make the succeeding years' bond issues exchangeable for shares at par, though it would be well to reward the subscribers for the first issue in this liberal manner. Should the Board of Directors favor the bonding plan, I recommend that the present shareholders of the Bartica Company be given first call on the bond issue for such succeeding year. Respectfully submitted, LINDLEY VINTON, Secretary and Treasurer. EXAMPLE OF MINING PROSPECTUS PERSUASION SAFE BANKING SYSTEM Mining Recorder THE ONLY RELIABLE BANKER That bank may not be blessed with an au- True, it requires judgment and experience of a fine order to calculate the contents of its vaults and extract it when located. It requires brains and muscle to open its combination. But it never accepts deposits and never dishonors a check. The greater the run you make on that bank, the bigger the surplus after the teller has handed you your shining share. When the report of that bank shows that one dollar has been added to the aggregate wealth of the world by production and not by manipulation, that dollar has been made, not simply exchanged. Not precipitated from a father's perspiration or a mother's tears, not in the form of residuum in the bottom of the washer-woman's tub, the weary sighs of the factory girl or the grime of overworked childhood; BUT, a dollar gathered from dear old Nature's breast, thrown out into the world by her fair hand, a shining token of her love, a tribute to honest toil and brains consisting of an article in which values are inherent and intrinsic to sustain the unfailing stability of the industrial world and incidentally to contribute to everything that is dear, precious and patriotic. Pin your faith to the mines, Nature's banking system. They are the only trust companies that can be trusted; their issue needs no redemption. Gold, silver and copper are their own redeemers Never hesitate to take all the stock you can get in NATURE'S BANKING SYSTEM, the mines. The Surest Way to Get Some of the Big Dividends That Nature's Banking System Pays Is to Invest in the Stock of the Mexamerican Company, owner of the Great BLACK WONDER MILL AND MINES. OFFER OF STOCK CONVERTIBLE INTO FUNERAL MR. New York City, DEAR SIR: I have incorporated my business and offer for sale to the Public $300,000 worth of 7% Preferred Stock at $10 per share. $300,000 worth of 7% Preferred Stock will be sold to the Public in shares of $10 each. INCORPORATED FOR $1,000,000 Net Profit from operations in 1912 as shown by the report issued by the Audit Co.-$72,331.14, which is over 7% on $1,000,000. Established 1895. Incorporated 1914 under the laws of the State of New Jersey. Gross amount of business for 1912-$425,000. Gross amount of business for 1913-$500,000. Total number of funerals conducted during January, February and March, 1914-1,542. Total amount of business done during January, February and March, 1914-$172,400.00. Total number of funerals conducted since established-21,123. Gross amount of business done $2,227,990.00. The above statement shows you how this business has grown and the confidence the Public has placed in me when I could build up an undertaking business to the amount of $2,227,990. The history of the business is too well known without making a lengthy explanation. To-day it is the largest in the world. In February, 1895, I started in business without a dollar. During the first year I conducted 46 funerals under the old system of a few funerals a year and exorbitant prices for funeral supplies. I shortly woke up to the fact that I was overcharging my friends and was actually acting the part of a hypocrite. I immediately broke away from the old custom, started to fight the Undertakers' Association and the exorbitant prices charged for funeral supplies. The wonderful success I had in this new method can be better explained by reading the statement on page 4 of this letter (p. 402 below) as to how this establishment grew. During the year 1913, I conducted 4,820 funerals at a total amount of a half million dollars. During the months of January, February and March, 1914, I conducted 1,542 funerals, at a gross amount of $172,740. On January 1st, 1913, I engaged the Audit Co., of 165 Broadway, New York, at an expense of $1,200, to take an inventory, make an ap praisal, audit my books and issue a report on the gross amount of business done during 1912, and the profit I made thereon. The report is on file in my office and open for inspection to prospective stock buyers and shows a gross amount of business of $425,000, with a net profit from operations of $72,331.14. During the year of 1913 I increased my business to a half million dollars, opened a great many branch offices, increased my equipment to almost double the amount of 1912, added another seven-story building to the already large plant, and I am to-day equipped to handle 10,000 funerals yearly. I also spent about $15,000 during the year of 1913 in preparing a staff to handle 10,000 funerals a year, and still have a very substantial profit, which is shown by the report made by the Audit Co. of New York, and is also on file in my office and open for inspection to prospective stock buyers. I feel safe to say that the gross amount of business during 1914 will be about $690,960 or more. I have to-day the largest and best equipped undertaking establishment in the world, facing on Main Street 150 feet and running through 200 feet to Liberty Street, seven stories, all new and up-todate construction, where I have my factory, garage, varnish room, paint shop, woodworking department, cloth-covering department, sewing rooms and my own crematory and florist department. My garage is equipped with over forty automobiles and the livery department with over one hundred horses. This will prove to you that I am able to handle 10,000 funerals a year without any difficulty. I have started this business without a dollar, made a fortune and have spent another fortune in advertising it and putting it on the footing it is to-day, and assure those who invest money in this proposition that it is just as safe as though it were in their own hands. For the benefit of those who wish to purchase stock and share my profits with me, I will state that I would be pleased to have them call personally, go through the plant, examine the books and see the report issued by the Audit Co., or if they would make an appointment, I would make it my business to call at their homes personally and go over the matter more fully. Ten dollars will give you a start in life which might be the making of you. You can rest assured it is earning 7% from the moment it is invested. This stock will not be handled by brokers, and I hold the right to reject any application. You are dealing with me personally and can receive stock from absolutely nobody but William Necker. Why allow your money to lay in a savings account in some bank at 3% and earn big profits for already millionaires, when you can get into |