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f. Whereupon, on motion duly aside and seconded, the following resolution ms adopted: Company, he and he hereby is authorized and empowered to borrow, on behalf of this Corporation and in its name, upon the terms shore' stated, $350,000 from himself, William A. Claris:, individually, and $350,000 from Oregon Short Line Railroad Company, and to make, exe­cute and deliver to himself, individually, and to said Oregon Short Line ^ailroad Company the notes of this Company to evidence such indebtedness, in the fora or substantially the form following, namely: On or before the first day of January 1912, for value received* San Pedro,Los Angeles § Salt Lake Railroad Company' promises to pay to the order of ......... ............ and to pay interest thereon from date at the rate of five (5) per cent per annum, payable semi-annually on July first, 1911, and January first 1912, upon surrender of the interest coupons annexed hereto, properly endorsed, as they severally mature. Principal and interest payable at the Hew York Office of the Company* R1S0LH®, That William A. Clark, the President of this I San Pedro,Los Angeles & Salt Lake Railroad Company five Per Cent. Mote, Rue January 1st, 1912 ' Hew York,February 1, 1911. the principal sum of Dollars Fan Pedro,Los Angeles A Salt Lake Railroad Company By PreeideiT.