the directorsOne: That on the ____9th__ day of January 1947, a certificate, signed and acknowledged in accordance with Section 400 of the California Civil Code, was filed with the California Secretary of State, stating that said corporation had elected to wind up and dissolve; that a copy of said certificate duly certified by said Secretary of State was thereafter on the ____14th____ day of ____January___ , 1947_, filed in the Office of the County Clerk of the City and County of San Francisco, California, being the County in which the principal office of said corporation is located.

the directorsTwo: That the directors of said corporation have heretofore caused written notice of the commencement of the proceeding of the winding up of said corporation to be given by mail to all its shareholders and to all its known creditors and claimants whose addresses appear on the records of the corporation, in accordance with Section 400a of the Civil Code

the directorsThree: That said corporation has been completely wound up, its known assets wholly applied on account of its debts and liabilities, any tax or penalty due under the Bank and Corporation Franchise Tax Act paid, and its other known debts and liabilities paid as far as its assets permitted, and that said corporation is therefore dissolved.

the directorsIN WITNESS WHEREFORE, the undersigned have executed this certificate this 14th day of January , 1947__.

----------------------------Signed. L. R. MARTINEAU. JR.
----------------------------Signed. 0. V. HOWARD
----------------------------Signed. HAROLD E. HOPE
----------------------------Signed. HECTOR C. HAIGHT
----------------------------Signed. A. R. ANDERSON
----------------------------A Majority of the Directors of
----------------------------Yosemite Valley Railway Company.