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Operating 20 retail drug stores in the leading cities of California, Oregon and Washington, invites subscriptions of one or more shares of its unsold portion of $254,000 of an authorized issue of $1,000,000, 8% Cumulative Non-Assessable Preferred Stock at par or $100 per share.

This stock has back of it the earning power of the greatest per capita drug business of any company in the United States. Its gross cash sales now reaches the sum of nearly $5,000,000 annually.

This stock is protected by the tangible assets of its 20 retail stores and the largest manufacturing drug plant on the Pacific Coast.

This Company has at its helm the same sterling business management that has made it the wonder drug concern of the country and which for 20 years has regularly paid dividends to its stockholders. Its net earnings for 1912 exceeded by over seven times all dividend requirements for its Preferred Stock. Dividends on the Preferred Stock are paid on January 1st and July 1st of each year.

If you are interested we will be pleased to send you further details as to our plans.

This stock will be sold only at our General Offices.