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up rapidly. Its business would add greatly to the earnings of the [U?]. P. and correspondingly to the C. P. A vigorous policy on our part is a necessity to our interests. We have in C. P. and S. P. about seventy millions of assets at present commanding no credit available for money. Our C. P. [insert] stock [/insert] ought upon its merits to be at par, and available as a collateral. It could be put on the stock board here and made available as a collateral and some sales made at fair rates - at least I think so. I quite agree with you that the important thing is to make our stock have a market value. But Fisk & Hatch are not the men to do it. Our stock properly on the market and we would have the means to protect ourselves and do those things generally which our business requires. John Wasson, Surveyor Genl. of Arizona, has been in the office today. He is familiar with the Humboldt and says the country from Fort Yuma via the Gila