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KNOW ALL MEN BY THESE PRESENTS: That THE BOARD OF
TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY
for value received, have bargained, sold, assigned, and
transferred, and by these presents do bargain, sell, assign
and transfer unto

238 First Mortgage Bonds of the Northern Railway Company
of California, maturing in 1938, being numbers 1021 to 1026,
both inclusive, 1139 to 1140, both inclusive, 1266 to 1319,
both inclusive, 1383 to 1424, both inclusive, 1481 to
1483, both inclusive, 1532 to 1564, both inclusive, 1601 to
1649, both inclusive, 2438 to 2450, both inclusive, 2843 to
2853, both inclusive, and 2611 to 2635, both inclusive,
standing in our name on the books of said Company and do
hereby constitute and appoint

our true and lawful attorney, irrevocably for us and in our
name and stead, but to our use, to sell, assign, transfer and
set over the said bonds, and for that purpose to
make and execute all necessary acts of assignment and transfer,
and one or more persons to substitute with like full power
hereby ratifying and confirming all that our said attorney
or substitute or substitutes shall lawfully do
by virtue hereof.

IN WITNESS WHEREOF, we have hereunto set our hand and seal
the 13th day of February, 1908.

SIGNED, SEALED, and DELIVERED

in the presence of

James Mason

The Board of Trustees of the

Leland Stanford Junior University

By Chas G. Lathrop

Treasurer