upr000012 1

*#\Wall Street, New York V , ' L/ June 28th, 1905, The Equitable Trust Company of lew York, 15 Nassau Street, New York City, Dear Sirs,- The San Pedro, Los Angeles & Salt Lake Railroad Company presents to you, the Equitable Trust Company of Hew York, as Trustee under the First Mortgage of said railroad company, dated July 1st, 1903, the formal application of said railroad eo^&Kfc, executed by its Second Vice-President and Auditor, for the r^Vsme said ? mortgage or deed of trust of certain lands sold by said railroad company to the Las Vegas Land & Eater Company, which ap; accompanied by a certified copy of the action of the Board of Directors of the railroad company ap: roving such requests the certificate of the railroad company, by ite second Vice-President and Auditor, showing that the said lands are no longer needed for the business of the railroad company; a separate certificate of valuation by the Auditor* and form of release to be executed- .by you as Trustee under said mort­gage. property the release of which from the railroad company a mortgage ig requested, has been sold by the railroad company to the Las Vegas Land & Water Company, for townaite purposes, for the consideration of 488 shares of the capital stock, the par value of such shares being $100 each, of the said Las Vegas Land & Water Company, such stock consti­tuting the proceeds of said sale. As shown by the resolution of the Board of Directors, the