Exhibit 99.1
TEXAS PACIFIC LAND
TRUST
1700 Pacific Avenue
Suite 1670
Dallas, Texas 75201
__________
|
TRUSTEES: Maurice Meyer III Joe R. Clark John R. Norris III |
Telephone (214) 969-5530 |
ROY THOMAS General Agent DAVID M. PETERSON Assistant General Agent |
TEXAS PACIFIC LAND TRUST
REPORT OF OPERATIONS - - UNAUDITED
| Three Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|
| March 31, 2005 |
March 31, 2004 | |||||||
| Rentals, royalties and other income | $ | 2,579,261 | $ | 1,898,645 | ||||
| Land sales | -- | 339,139 | ||||||
| Total income | $ | 2,579,261 | $ | 2,237,784 | ||||
| Provision for income tax | $ | 580,503 | $ | 470,151 | ||||
| Net income | $ | 1,352,573 | $ | 1,177,773 | ||||
| Net income per sub-share | $.62 | $.53 | ||||||
| Average sub-shares outstanding during period | 2,189,392 | 2,240,642 | ||||||