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Regular monthly meeting of Board of Directors, Las Vegas 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, March 9, 19*4-8. Present: Prank Strong Wm. Reinhardt E. E. Bennett W. T. Price Absent: G. F. Ashby A. M. Folger Vice President Strong called the meeting to order and presided. Minutes of meeting of Board of Directors, held February 1 0 , 1948, were read and approved. On motion duly seconded, it was RESOLVED, that the action of President and Assistant Secretary Bachman, on behalf of this Compahy*, in executing Com­munity Oil and Gas Lease, C. D, # 3 3 1 6 6 (being Counterpart Lease No. 42), with Continental Southern Corporation, dated December 18, 1944. covering the inclusion therein of 5*37 acres of this Company's land lying west of Golden Ave. and south of Ocean Blvd., Long Beach, California; term, 20 years from and after the date thereof, and so long thereafter as oil, gas or other hydrocarbon substances are pro­duced therefrom; royalty rate, 1 3 .1 2 5 $; be, and the same is hereby, ratified, approved and confirmed. On motion duly seconded, it was - 1-