Powell

July 10, 1923, Nome Dredging' Trust, a common-law trust, referred to throughout the record as the Trust, entered into an agreement with Hammon Consolidated Gold Fields, referred to in the record as Gold Fields, under the terms of which the Trust agreed to grant, bargain, sell, convey, and transfer to Gold Fields certain personal property and town lots in the Cape Nome Mining and Recording district, Alaska, for the sum of $155,000, payable as therein provided; and for and in consideration of the agreement to purchase the aforesaid personal property and town lots the Trust further granted unto Gold Fields a mining lease and option to purchase all and singular certain other real property enumerated and described in schedules attached to the agreement; the term of the mining lease and option to commence on the date of the agreement and to continue to and including December 31, 1935, unless sooner terminated as thereinafter provided. It was then agreed that the Trust should deliver possession of all and singular the mining property to Gold Fields on or before August *421 IS, 1923, subject only to the obligation to pay certain royalties and minimum annual payments to the respective…