Correspondence, Levi Syphus to Thomas Toland

StThomas,Nevada,7/2,1918 Los Angeles,Cal* ^ear Sir:- Hon Thomas,0.Toland Yours of 28th ult received and carefulley noted,with iWhich I,in the main essentials agree,but herewith tender the foliowitag observations with the hope of a little more fulley developiriv lie situation. - /V-..' 's,/.; As to the reservation for the purchase of salt after trie hsale may have been effected,the contract should provide that,I,as trustee should have the right to purchase,subject to the exhaustion of the deposit,at the price of §1,25 per ton, mined arid loaded at the deposit,plus the cost of mining and loading(whi0haf \ latter should be properly safe guarded to prenent its running;to high, )for a period of ten years time,all salt that may be reqliieed \ for use in the process of refining magnesite in the Moapa or VirSn N Valleys or- 2i m? mwe di:atlv e. ,l. oc£al i_Vt y : e3tc . . ? m . Ir- : f :\ The matter iif covered in the manner you suggest would be sqti** I sfactory.Bufe mi^ht it not be the more simple way,however,for the K company,before the stock had been transferred under the sale,tb 11 execute such a contract to me,the purchaser to have notice th^t the same would be done and he be given in advance a copy of trie-contract that would be executed or entered into on the part of the company, or a copy thereof be delivered with the escrow papeem subject to his examination,would not the sane be effective and would not the company have to meet the obligation after the stock had left our posession,the contract,of course,to be properly receded with the county as public notice of its exhistance,the recording to be done after the sale had been effected,If the sale failed to materialize the contract,which would be in possession of the Sec untill after the sale,to be returned and cancelled. «=£?<? <cs The conditions you propose .would also need to be a provision in the joint option,or of all <5f the options.Said Option or the various options would have to given,as you say, in such manner that all of the stock would have to be purchased,providing of course that all desire to sell, Deposit of the stock in escrow in some bank in Los Angeles as you suggest would be all right,and also for you and Mrs George to select the hank,The escrow to provide for the bank to deliver to each stockholder his money in proportion to his stockholdings respectively. in the matter of the stock held by &arry “entry,Edward H.Syphus and myself,however,and possibley there may he others,ti&&#&nid^6*ti& ^ i is hypothicated as security for a loan and we would want the option to provide for the delivery of this stock to the escrow in the hank within so many days after the purchase price had been deposited in exercise of the options, We could then ask the holder of the stock to deliver,or arrange with him in advance to do sc^ to the bank to go into the escrow, and instruct the bank to pay the holder his money on its tielivey from that part of the money due us under the sale,the balance due us to be forwarded as per the general terms of payment. 2 in the matter of the lost certificate of Anna Neal,which you 4/ report,she can of course receive a new one upon her deliver of an affidavit to the company,reciting the same is lost and releiveing the company from all liability in connection ther&ith or because of such certificate,which can then be properly cancelled in the companys records and the affidavit enterd of record withjf the county,the cost of the recording to be born by her. Will you not undertake the preperation of the required options necessary to begiven by all concerned,your bill for the service to be paid by the company itself.I think all of the directors would approve of this.I havent time to consult %* Bonelli before sending this.but Mr Gentry will signe this letter with me as evidence of his acquisence in the proposition for the company to pay you for the service.Am resonably certain Mrs George will approve,and^? I am sending both herself and %» Bonelli a copy of this letter so that they can register their objections immediatly if any,at any rate you wil be sure of a majority of the board standing fop the company paying you,Considering some $400 Mr Main and Bigelow has deposited with “r Gentry for payment to the company,it has sufficient funds with which to pay you for the service independently of the sale. I believe the expenditure would be all equitable one,eaven tho the sale might f or should fail; For I think It is only a matter of time untill a sale will be effected with some one,and £&d&&exhisting conditions considered,there is no doubt in my minde,but that the plan proposed is the only practicall one for handleing the deal,and if the details are worked out now along the proposed lines,they will answer for the future or when they may be needed/, if not now,with a very little alteration,and the expenditure would in all probability entail no loss upon the company. Mr Bonelli will no doubt be prompt in supplying the certificat e numbers or ottjher information you may need from the records, and also to straightening out the matter of the lost certificate of Anna Neal. My Mother is again seriousl ill,and I am leaveing for home this morning,so that,if I were capable,1 would not have the time to give to the preperation of the papers or to our part of them. Rave had to write in haste,hut hope this is sufficient to convey the thoughts I intend,notwithstanding the spelling(?) I heard of a coHedge man who had his colored valley prepare his class papers for him,because the coon could spell and his master could not,b&ing spellingblinde as am I.but notbwithstanding the deficiency this man afterwards became candidate for Governor of Mass.therefore I an trying to feel incouraged. ^ery truly yours Mrs Sadie B.George k 302 East Kensington Road Los Angeles t a 1 •