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Regular monthly meeting of Board of Directors, Las iTegas Land and Water Company, was held in the Company’s principal office in the Union Pacific Building, 422 West Sixth Street, Los Angeles, California, at 11:00 A. M,, Tuesday, September 14, 1948. Present: Wm. Reinhardt E. E. Bennett W. T. Price A, C. Ritter Absent: G. P. Ashby A* M. Polger Vice President Reinhardt called the meeting to order and presided. Minutes of meeting of Board of Directors, held August 11, 1948, were read and approved. Following Authority for Expenditure Requests, approved by the President, were submitted for ratification: W. 0, #603, issued May 24, 1948; Las Vegas, Nev.; retirement of rectangular parcel of land on North Main Street, together with 100 ft. of track located thereon, sold to Sears, Roebuck and Co. as per Deed Audit No. 4952. Credit Real Estate-Sold, $462; Chargeable Accrued Depreciation-Trackage-Nevada, $53; Sale Price, $9,357; Creditable to Profit on Sales of Real Estate, $8,948; Estimated cost of removal of property retired chargeable to Profit on Sales of Real Estate, $93. W. 0. #604, issued May 24, 1948; Yermo, Calif.; retire Lot 4, Blk. 2, Tract 2348, sold to Walter S. Olson, per deed Audit No. L.S. 4935. Credit Unimproved Real Estate-California, $1; Sale price of land, $350; Creditable to Profit on Sales of Real Estate, $349; Estimated cost of removal of property retired chargeable to Profit on Sales of Real Estate, $1, W. 0. #605, issued August 24, 1948; Los Angeles, Calif,; retirement of South Half of Lot 65 and all of