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I S.Pft.A. & S.L.R.R. Jan.19,mi. —2— : liji I V ' COBSTRUCTIOIT OP KRJSCH LI1B MOAPA TO GYPSUM DEPOSIT. The President submitted a letter, dated January 12, 1911, addressed to him by Messrs* fjj H. Bancroft and J. Boss Clark, the Special Committee, recommending a branch line ©r spur from Moapa t© the Bouse Gypsum Deposit, a distance of 2.378 miles, at an estimated cost, not including c005}any freight, of 128,187,70, it y appearing that Mf. Bouse would furnish right of way from Hoapa to the gypsum deposit, and also deposit #10,000 cash, to be refunded to him on the basis of 20^ per month on his outgoing freight only. On motion duly made and seconded, it was HSSQDVED, that the recommendation of the Special Committee be and the same is approved. mgfffiitt wm. The President of the Company stated that it was necessary that the Company should0btaina further temporary loan in the amount of #700,000 to meet accruing obligations, and that he ms able to arrange for the borrowing of said amount on the following terms: First; The loan of #700,000 is t© be divided into two loans, each for #350,000, and each payable on or before January 1, 1912, interest to be payable at Pew York City at the rate of lijf per annum, ^ each loan to be evidenced by one or more promissory note® of the form submitted: Second: The President to individually make one of the addit­ional loans upon the terms herein stated for #350,000, Oregon Short Line Railroad Company making tip remaining loan of #350,000. Third: The proceeds oi these loans to be paid into the Treasury of the Company and applied in the discharge of .its indebted­ness.