05/04/19671 Offleey
DISCU.2:22.1C
I - of 12, "..3(orld-L
_ _
bti thOUJ:11.:
',...;:fl..LqUe in that be a
1LJ 1.2',,Iymer.A. each year over a tv.ehty -year p.Jrio th-a
IF all due the last :;ear,
)0 per year is set aside as a - reserve o cud
, '7 _ tt,2! iflfl 11,hd jii
- - on s. de
tht_' money, and oh the othc.r sLue would tarnin.
help ar cu t the cost oF the money °vet.
11 the fifteehth yr t 103. It' the T.oney
t c!,.,cod, the bonds could be called in, 3.-efun
arc 11 1»1r lr'ato. It is probable that this would Le doot;?,
since it only se fdve -year money, the borrow i t cou2„d
(L 1) 1..ne last three years.
_ acc
11.1s -. L 1 ould be jhvc-..;ted in U.S. tie
ove_r a ten-year period ard could prodal...1:
pAc,k up n 1% profit ch could Le appLied to th
not only waF3n out the of the morli
...
an
;_.'.aLLIra felt would be more difficult to sell i serial ls'i
It would cost more. He also advisecl that he
_ 7, re_coneiy :111 tLat 1 1 "7.
There fuilowei or d
len due to th ldck of qucruc,I.
ArPROVY
aLh was n6u
Wilton T. 1 :11aite
Chairman
Jaws 13arr.
i3 SULiirf