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upr000017 113

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upr000017-113
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Sept. 14, 1909. 1199 Mr. Tvr. H. Bancroft, First Vice-President, Salt Lake City, Utah. Lear Sir I hand yon herewith some correspondence, "between myself and Mr .Bettis relative to the rental of houses at Las Vegas . You will note in Mr.Bettis* letter of September eleventh he speaks of a profit of four per cent per annum which he says he understands is the suggestion contained in my letter of August eighteenth. My letter referred to speaks, however, of ton per cent profit on the money invested over and above taxes, insurance, depreciation, etc. However, he figures on a basis of six per cent interest on the money invested and four per cent profit VPOn would give the same result as a ten per cent profit, which which X was figuring. You will note on this basis that it figures out $32.55 per month for four room houses and $24.90 for five room houses, and I would recommend that we make the rental $22.00 for the four rooms and $25.00 for the five rooms. Even this does not seem t© be enough difference between the four and five room cottages. Please let me know your views of the matter. Very truly yours. Enclosure•