May 16, 1924
File No. 101-1

W. A. Rabbett, Auditor.
Yosemite Valley Railroad Co
Merced, California.


Dear sir

                 Referring to the 1923 annual report of Yosemite Valley Railroad Company:

                 Will you kindly furnish this Commission with an analysis of the item "Miscellaneous Income" amounting to $126,507.71, shown on Page 301 of the report.
Yours truly,
RAILROAD COMMISSION STATE OF CALIFORNIA
By

                                
Secretary
PDC/M



YOSEMITE VALLEY RAILROAD COMPANY
ACCOUNTING DEPARTMENT


W. A. RABBETT
AUDITOR

MERGED, CAL.

May 17, 1924

Railroad Commission State of California,
San Francisco, Cal.
Attention H. G. Mathewson.

Gentlemen:-

                 Replying to your letter dated May 16, file, 101-1, relative to Miscellaneous Income amounting to $126,507.71 shown on page 301 of our 1923 Annual Report this amount represents the recovery from the U. S. Government of the deficit sustained by the company during the period of Federal Control of the railroads.

                                  Yours truly,

                                  W. A. RABBETT