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MEMORANDUM OF SECURITIES INCLUDED IN

INVESTMENT IN ROAD AND EQUIP

MENT."

NAME OF SECURITY INCLUDED

IN "INVESTMENT IN ROAD AND EQUIPMENT" (INCLUDING NAME OF ISSUING CORPORATION).

Montreal & Vt. Jet. Ry.,.

NAME OF DEPOSITARY.

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$1,000,000 $500,000 From Stanstead, Shefford & Chambly

Jct. in Canada to the Vermont line, 23.6 miles.

SPECIAL DEPOSITS.

Purpose of Deposit.

American Trust Co., C. V. Ry.,
American Trust Co., M. & P. L. Ry.,

To pay matured interest on funded debt, To pay matured interest on funded debt,

TOTAL,

Amount at Close of Year.

$23,285 00 178 00

$23,463 00

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1 Pledged to secure note for $35,000 given in payment of land purchased at Montpelier Jct., Vt. Particulars given on page 143, "Collateral Trust Bonds."

: Principal due December 1, 1990. Interest payable June 1 and December 1. Guaranteed by the New London Northern Railroad Company.

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1 Unadjusted items in interline freight settlement with foreign roads.

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