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SAN PEDRO, LOS AN G ELES AND S A LT LAKE RAILROAD COMPANY O F F IC E O F F I R S T V I C E - P R E S I D E N T I n c r o f t , F i r s t V i c e - P r e s i d e n t ?7T S a lt Lake C ity , June 6th, 1905. By-Laws Las Vegas Land & Water Co: Mr. T. E. Gibbon, General Counsel, S .P .L ,A .& .S .L .R .R ., Lo3 Angeles, C a lifo r n ia . Dear S i r ; - I have your l e t t e r o f May 31st, and have read same over c a r e fu lly , and i t occurs to me that i f no question should a ris e as to the con stru ction o f these by-laws d if fe r in g from the con­s tru c tio n you place upon them, perhaps there would be no o b je c t­ion to le a v in g them as they now are, but a ft e r a l l , i t seems to me that a d iffe r e n t con stru ction is lia b le to be in s is te d upon. So fa r as the m atter o f keeping accounts is concerned, that fa ll3 w ith in the gen era l du ties o f a s e c re ta ry , or wnere necessary, in h is department o f A u d ito r. I am s t i l l o f the opinion that these By-Laws should be changed as o u tlin e d in my l e t t e r o f May 29th, so that no question can then a r is e as to the d u ties o f the S ecretary o f the Las Vegas Land & Water Company,