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Show It's the Wake-Vp FoodQlS ' , , Ilerc's a delicious breakfast that's as light m toasted f" , A ,' ' ' flakes can make it, and full of energy Ut fight off that "4?17"r- II v 'f lacy, hot weather feeling. Energy that is quickly re- . f ffTHfj fljfjj leased to the body, it's so easy to digest . " KiJI f And how those ernnchy flakes tempt tba appetite I f Delicate flakes from die tender hearts of selected ' fc.. V?"" $lr while corn, toasted goldea crisp and seasoned to r,nim.oL lft$'ff iL ' flavorygoodncMi Every member of the faadly votes iV f "' ' ' for this quick-energy breakfast the Wake-op Food, SSijr " " ' 1 ' " Post Toastiea. ' ' V1 '' j And don't forget there's just one way to get the v v ' ' VTake-np Food. Auk yonr grocer for Post Toastics J ' ' In the red and yellow, wax-wrapped package. . f ' rosTUN coMrANT, inc., battle caica, such. O i9, F. Co. Ioc V.. 0 . People who realize the importance of a J Clear, Healthy Skin use Cleansing Soothing Antiseptic. E3ffl!r) lrbS. iMmnaCMlam,aDtrl. IT, lalto,aM, ' . f j New Issue $4,250,000 J: I . .- P'.i Id a' - Western Newspaper Union (A Dclavsr Corporation) ? Fifteen-Year 6 Convertible Qold Debentures j Dated August I, 1929 Due August 1, 1944 "; ,JJ Intf rot pyib! Ftbrosry 1 Hid August I without drductlon for BormsJ Federal Income tax not eictedlng 1. The Com. If Tt j; pny will wree to refund to holders, upon proper application, any State income tax not exceeding 5 per annum, and in Massachusetts not exceeding 6 per annum, and personal property and security taxes in certain States as pro- vkied in the Trust Indenture. Redeemable at any time as a whole or in part on 60 days' published notice at )S 105 and accrued interest. Coupon Debentures in interchangeable denominations of $1,000 and $500 a registerable aa to principal only. Central Hanover Bank and Trust Company, Trustee. ' Debentures will be convertible, at the cptlosi of the holder at any time prior So nufortrf, apsis five cteva . ' prior to earlier redemption, into Common Stock at too rasa ol 40 shares ior each 1 1,000 principal ansoons. - 5 H. H. Fish, Esq., President 0 tht Company, tummdritf J from hit letter to W 41 follows: " BUSINESS v, ' Western Newspaper Union, successor to a company of tne same name and a business founded - ; j in 1865, serves more than 10,000 daily and weekly country newspapers, maintaining fully ' ; , ' , equipped plants in 36 key cities of the United States from California to Maswchuaetta.. ::.,'!f."A The Company supplies these newspapers with ready printed inside pages or with columns of prepared plate, containing various feature stories, serials and special articles selected by the 3 newspaper publishers; places national advertising in their papers and prepares cuts and copy 'f V for local advertising campaigns. . ' The Company also does a large volume of commercial printing, prints in their entirety f various magazines and trade journals and is responsible for the mechanical production of i s . many of the feature services of The Associated Press. , . ' . .--'I ,. k FINANCIAL v.-.--,--;.."-.-..: .-.J.--- , - During the past 20 years net profits of Western Newspaper Union, after all charges includ- j ing depreciation, but before Federal taxes, averaged more than $680,000 annually, and in no . single year were such net profits less than $450,000. . , '? Net profits after depreciation, but before Federal, taxes, for the past 4 years, as certified by Messrs. Arthur Andersen Co., after eliminating operations of the paper mill, which is being sold coincident with this financing and after other adjustments arising from the reorganization as slated in their certificate, were as follows: . , , , ' 'l 1925.....:............ 741,J3cJ ' '' 1926 , 955,383 ', 1927 371,249 1928......... v 763,825: Such net profits as above have averaged about $758,448 annually, and for the year ended December 31, 192S, amounted to $765,825, equivalent to more than 3 times the annual Debenture interest requirement. . After deducting from such net profits in 1928 Debenture interest requirements, Federal , v ; Taxes (parent company) at 12 and Preferred Stock dividends, the balance amounted to . ; . over $352,000, or about $2.35 per share on the 150,000 shares of Common Stock to be presently outstanding. ; The net assets of the Company, available for these Debentures, based on the balance sheet, as at April 30, 1929, adjusted to give effect to the present financing, including the sale of the paper mill, were in excess of $8,500,000. . , . MANAGEMENT Since the death in 1916 of the former-owner, George A. Joslyn, his widow and other heirs have owned the majority of the Common Stock of Western Newspaper Union, control of which is now being acquired by the executives who have been responsible for its successful operation during the past 13 years. . . ; AU trrat eVtait will ft fvui upon bf Vritn. Ttnney, Bat&nt, Shtr- ' . , uw & Resets ) Ciutato tnd bj UaBU WUtt & Cut tj Hew ttk. - 1 ' s. F.A.Willard&Co. Ames,Emerich&Co.,Inc. New York '. rbiladclphia - ,', ' Cbieg New York , -, ... . We nave accepted as accurate the Information and statements contained In the atwv mentioned fettCT snd summary, L 5,, but no errors, omissions or misstatements in said letter or summary shall give rise to any right or claim against tu.p,: J 1....... July, 1929. |