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the actual acres sold extending the balance
at $2.50 an acre- the Government rate
for adjoining lands.

Undivided half 60 acres land in Mission Bay
San Francisco; 500 acres water-front in Oakland.
about 140 acres and water ground in Sacramento
estimated value . . . . . . . . . . . . . . . . . . . $7750000.00

Total Assets. . . . . . . . . . . . . $305243040.56

Balance or Assets over Captial Stock and total
Indebtedness. . . . . . . . . . . . . . . . . $31622522.49