Correspondence, Thomas Toland to F.A. Truett

I Hay 6, 1919 Mr, F. A. T ru e tt, 3991 H s lld a le Avenue, Los Angel©?, C a lifo r n ia , Dear S ir : R e fe rrin g to the one thousand shares o f the c a p it a l stock o f V irg in R iver S a lt Company which you have stated you d e s ire to purchase on or befo re June 4 , 1919, I am a rran gin g f o r you to have the opportunity to purchase th is stock on o r b e fo r e , but not l a t e r thanr June 4 , 1919, on the terms h e re in a fte r s t a t e d . For th is pur­pose a l l o f the 1,000 eharee o f Stock are deposited with loe Angeles Trust and Savings Bank, with in etructtbn e to d e liv e r it to you or your assign s on or b e fo re , but not l a t e r than, June 4 , 1919, f o r the fo llo w in g cash payments: 1. For the 260 eharee belon gin g to Mt e . Ceori?e, $37500. in cash, 2. For the variou e h oldin gs a g g re ga tin g 260 sh a re s, belon gin g to the M eConiglee, m yself and o th e rs, known as the Ventura sto ck h o ld ers, $37,500,00 in oash; 3* For the 250 sh ares belongin g to 3* F* B o n e lli, $30,000 in oaeh 4 , For the remaining 250 eharee belon gin g to JJariy gentry and o th e rs, $30,000 in cash',. W ithin the time Since you took th is up w ith me, I have not been able to get the in stru c tio n s signed by e l l o f the stockholders end deposited in the bank, but I am p rocurin g the same and they should b e in and ready fo r d e liv e ry to the bank on or before Saturday o f th is week, I w i l l do a l l that I can to b rin g about the p u ttin g up. o f tr ie stock to carry out th is arrangement. An in s tru c tio n w i l l be made end given to the bank that not le s s than a l l o f the shares w i l l be so ld under th is arrangement. In add ition to the cash purchase p ric e above named, the re ­quirements for securin g the use o f any road that may be b u ilt or used by V irg in R iver S a lt Company between the S a lt Claim end the R a ilro a d S tatio n at St Thomas s h a ll be a p u b lic read fo r a l l the purposes o f the present stock h old ers, t h e ir successors end a ssign ? , and the new owners o f the stock s h a ll , upon t h e ir re q u e st, make every reason able bona fid e e f f o r t to have C lark County e s t a b lis h such road as a p u b lic ro ad . A ls o , th at any r a ilr o a d th at may be b u i l t to the S a lt lake Statio n in St Thomas from the S a lt mine, cr to any other through r a ilr o a d that may be constructed in that v ic ­i n i t y , s h a ll become and be a p a rt o f such in te rs ta te ra ilw a y so th at the e u b lio may have the b e n e fit o f in te rs ta te through ra te s from the s a lt min© to any p oin ts w ith in or w ithout the state o f Revada, A ls o , the V irg in R iver S a lt Company and the new stockh olders s h a ll make , execute and d e liv e r at the time o f the purchase o f the stock, a b in d - If* A* 'Truott 2 - .Hpy 6, 1919 inp a^re©merit 1th lire* decree and typhus, Gentry end others owning 250 ©hare© o f ©took, to © e ll to them eueh s a l t se they may re o u ire fear manufacturing or oihdr pnrpoeee w h ile s a lt © h a ll la s t" in the S a lv a tio n Claim , at the or ic e o f fl* 2 5 per ton I f they mine i t thera- . e lv a e , or i f rained by the eoraoemr or the new stockholder© o r their eucceeeore, then at the nr ic e o f $1.25 per ton nine the actu al coet o f raining the same* £he fo re g o in g orovieien e r e ia t inp to the ut e o f t r a v e lle d road© and railw ay© and the r ig h t to the c e rt a in stockholder© nsrad to purchase © sit w i l l he provided fo r in agreement© to he eirated by yon and approved by the V ir g in H iver SrI t Company a f t e r the incoming o f the new stockholder©, accordin g to the form© o f agreement h ereto fo re drawn p ro v id in g f o r those matter© and which forme o f agreement I have shown to yon* Yon w i l l onderetand th at I engage to m e my beet endeavor© to pet thi© stock put In escrow on the term© shove named, hut do not u ro feee t o have the © ale o f the ©took except such a© belong© to m yself* I © h a ll hope to have the matter in con d ition eg h erein ©et fo rth in a© short a time se p o s s ib le * Your© tr u ly TCT-H Los Angeles, Gal.., May I 1919 L os Angeles Trust and Sa-vi ngs' Bank, Sixth and Spring S treets, Los Angeles, C a lifo r n ia . Gentl emen: B e fe r r in g to the escrow Ho. 14143 opened w ith you ( i n Mr. C h risten sen ’ s department) by l e t t e r from Thomas 0. To land dated October 3 , 191 8,- in which escrow the stock ­h old ers o f V ir g in H ire r Salt Cong?any,a Ilevada c o rp oration , dep osited a l l of the one thousand shares o f sa id Company fo r d e liv e r y , on the payments and conditions t h e r e in named, to John §g Perkins or h is a s s ig n s , under a w ritte n option , o f which a copy was deposited with you in s a id escrow: 1. You are hereby advised th at the term o f s a id w r it ­ten option to John 3?. Perkins has lo n g since expired and said option has been revoked and canceled, and i t i s here declared by the undersigned stockholders^that s a id option is now n u ll and v o id . 2. The owners o f said stock are w i l l i n g to s e l l the same on the terms h e re in a ft e r set fo r t h to H. A. T ru e tt, o f 3991 H a ll dale Avenue, Los Angeles (Home ’phone 77406), or h is a ssig n s, on or b e fo re , but not l a t e r than, June 4 , 1919, i t bein g a con dition , however, of th is in s tru c tio n th at not l e s s than a l l of the one thousand shares o f the c a p ita l stock o f said c o rp o ratio n shall be d elivered by you h ereu M er , except that any o f-s a id stockh olders whose shares sh a ll/ a g g re g a te more than two hundred f i f t y shares o f s a id stock may, by e x - p re ss w ritte n in s tru c tio n to you, withdraw t h e ir said shares from t h is arrangement fo r sale vithout^val^.dating or a ffe c t -^ in g th ese in stru c tio n s in any w ise as to the remainder o f said stockh olders. One or more o f sa id stockholders may give in s tru c ­tio n s to you fo r the sale and d e liv e r y of said stoc& hereunder on separate papers. 3. (a ) A l l o f the c e r t ific a t e s re p re s e n tin g s a id one thousand shares o f sto c k bein g now in your p ossession in the escrow numbered as above, you w i l l r e t a in p ossession of the same f o r the purposes of th ese in s tru c tio n s , as though now deposited with you fo r the f i r s t time# (b ) The two hundred f i f t y shares o f sa id stock deposited with you by M rs. Sadie B. George you w i l l d e liv e r under those in stru c tio n s to Said T ru e tt, or M s a s s ig n s , on or box ore »but not la t e r than* Juno 4, 1919, upon the payment to you f o r her o f the sum o f #37*500*00. ( c ) The two hundred f i f t y shares of sa id stock deposited w ith you by B. F. B o n e lli, o f S t. Thom s, Nevada, you w i l l d e liv e r , under these in s tr u c t io n s , to s a id Truett a s s ig n s , on or b e fo re , but not la t e r than, June 4, *" 191 9,,upon the payment to you fo r him of the sum of $30,000*00. fa) named persons The fo llo w in g shares issu ed to the fo llo w in g (and d e liv e re d to you in the old e sc ro w ), t o -w it j 80 sh ares issued to Harry Gentry 35 shares issu ed to E lle n Gentry 21 shares issued to Levi Syphus 44 shares issued to Edward H. Syphus 17 shares issu ed to M. A. Bunker 18 Shares issued to J. II. Bunker 35 shares issu ed to Mary E. Gibson you w i l l d e liv e r , under these in s tru c tio n s , to s a id T ru ett, or h is a s s ig n s , on or b e fo re , but not l a t e r than, June 4, 1919, upon the payment to you fo r the p a r tie s e n t it le d th ereto o f the sum o f $30,000.00, sa id sum o f $30,000*00 being at the ra te o f 1120*00 p er sh a re. Of the shares la s t named, the fo llo w in g were deposited w ith you by W illiam McGuire (the same being h eld by him as s e ­c u rity fo r the payment o f promissory notes j , t o -w it ; C e r t ific a t e Hoi 8, issued to Harry Gentry, 45 shares* C e r t ific a t e Ho,35, issued to Edw. H. Syphus, 5 sh ares; C e r t ific a t e Ho.27, issu ed to Levi Syphus, 5 sh ares; C e r t ific a t e Hoi 10, issu ed to-Edward H.Syphus, 35 shares; C e r t ific a t e Ho, 2 8 ,issu ed to L evi Syphus,'15 shares* C e r t ific a t e Ho* 3 3 ,issued to Harry Gentry, 8 sh ares; the same a g g re ga tin g 113 sh ares. from the proceeds o f the 113 shares la s t named, you w i l l deduct arid pay to s a id W illiam McGuire sums sufficient? to cover the fo llo w in g : ( i f Note o f Levi Syphus and Edward H. Syphus fo r $2240*00, dated November 1, 1916, bearing, in te r­est at eigh t p er cen t, per annum, payable sem i-an n u ally , from November 4 , 1916, on which note in te r­est has h ereto fo re been, p aid as fo llo w s ; May 1, 1917 November 4 , 1917. November 8, 1917 July 29, 1918 (In t e r e s t p a id to May 1, 1918) $89;60 44; 80 44* 80 89.60 o r o ----------» * « * ® * w o w J U B tfiU S lifcH are endorsed as fo llo w s ': On May 1, 1917 On November 4, 1917 On November 8, 1917 ? On July 29, 1918 (in t e r e s t to May 1, 1918} #134; 40 89; 60 44,80 134,40 fhe rem ainder of the proceeds o f sa id 113 shares la s t named you w i l l pay to s a id Harry Gentry, Edward H. Syphu; and L evi Syphus, who w i l l e ffe c t the d is t r ib u t io n o f th e same amongst them selves without r e s p o n s ib ilit y on your p art th e re fo r. under th ese in s tr u c t io n s , to s a id P ru e tt, or h is a s s ig n s ’ on or b e fo re , but not l a t e r than, Jane 4 , 1919, upon the payment to you o f the sum of #37,500,00, which you w ill d is t r ib u t e as fo llo w s : To Thomas 0. Poland, #9,375.00 f o r 62g shares th e r e o f, and to f . R. McGonigle the remaining ••28,125.00 th e re o f f o r the rem aining 187|r- sh ares, anfl sa id Toland and s a id I,7. R. Sb&onigle w i l l d is t r ib u t e s a id la s t named #37,500,00 amongst the persons e n t it le d th ereto w ith ­out r e s p o n s ib ilit y on your part th e re fo r# on e-fourth each by the sh ares of stock named re sp e c tiv e ly under the su b d iv isio n s ( b ) , ( c ) , ( d) and ( e ) above named. At the time o f the d e liv e r y o f said shares of Stock as a fo r e s a id , you w i l l , a s f u r t h e r ,c o n sid e ra tio n t h e r e fo r , r e ­qu ire s a id P ru ett, or h is a s s ig n s , to execute and d e liv e r to you f o r the p a rtie s e n t it le d th ereto the forms o f contract c a lle d E x h ib it "A " and E x h ib it "B” , r e la t iv e to the use and rig h t to Use roadways and r e la t i v e to ra ilw a y exten sion , and g iv in g to c e rt a in o f said stockholders the rig h t to purchase s a lt from .the "'S alvation " claim . These papers should be acknowledged b e fo re a notary p u b lic or otherwise so as to e n t i t le them to be reco rd ed in 't h e o ffic e o f the County Re-* corder o f C lark County, Nevada, ( e ) The rem ainihg 250 shares you w i l l d e liv e r , The expense o f h andling t h is escrow w i l l be paid Yours t r u ly ,.