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Branch Office
Leland Stanford JR. University
510-512 Union Trust Building

San Francisco, Calif.,
Feb. 13/1908

Mr. I.W.Hellman, Jr
Vice President, Union Trust Co.
of San Francisco,. C I T Y

Dear Sir
I hand you herewith the following bonds, duly registered,
belonging to the Leland Stanford Jr. University.

238 Bonds of the Northern Railway of California 5%..$1000.00
each due 1938.

The above bonds are to be forwarded to New York, and
transferred on the books of the Company, to bearer. When they have
been properly transferred, will you kindly have them returned to
your bank so they may be sold to the Estate of Jane L. Stanford

I also hand you herewith:

250 Bonds of the Union Pacific Railroad Co. 4%...$1000.00 each
due 1947

250 Bonds of the Northern Pacific Railroad Co. 4%...$1000.00 each
due 1997

After these bonds have been transferred back to bearer, will
you kindly dispose of the same, and the proceeds credited to the
account of "The Board of Trustees of the Leland Stanford Jr University
Investment Account".

It is desirous of having these bonds net the University par,
or as much above that amount as possible.

Thanking you in advance, on behalf of the Trustees for your
attention to this matter, I remain.

Yours respectfully,
{sgd} Chas G Lathrop
Treasurer

P.S. Kindly acknowledge receipt of above bonds.