Willie T. Stewart was terminating the lease due to insufficient water on the ranch. He was willing to sign a new lease given the listed terms. Letter refers to outlined areas noted on map referenced below.

Coffey recommends not installing a hydropower water wheel on the Las Vegas Creek, but increasing capacity at the Las Vegas Power plant. The higher initial cost would be beneficial in the long run. "W-2-4-2" in pencil in upper right corner, letter also has numerous pencil corrections.