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660 Market Street Mr. Edward C. Renwick, Assistant General Solicitor, Union Pacific Railroad Company, U22 West Sixth Street, Los Angeles, California. Pile 80-J Subject i 1951 Revenue Estimate from Rate Spread Las Vegas Land and Water Company Dear Mr. Reiwrick: I have completed the revenue estimate for the year 1951 based upon the rat® spread data developed by Mr. Bertolacei in Mr* Johnson*s office. Revenue Estimate* The attached Table develops a revent® estimate of $312,882.81* under the proposed rates. This compares with $236,700 (21*2,200 *» 5,500) Page 3, Exhibit B at present rates* The difference is 176,182 for the increase, which compares with the stated increase from Rable in Exhibit A of $9U,J*86, or a lesser increase by $18,30k. This estimate includes the Table **RW proposed rates for Apartments or $6,0U5«60 more than set up in Mr. Bertolacci* 1 s Work Sheet (2), Motels have been priced out on the revised Motel Rate. The bungalow courts, not classified as Motels, have been left on the old classification and priced out at the proposed rates in Rable WRW. On Page 2 of the rate spread sheets, there has been a transfer of §E0 apartment units to Motels on pages lit and XJs. However, it does not appear to me that the Bungalow Oourt units on Page 2, fro® which the Motel- units have been deducted, were increased by the $0 units transferred. In my calculations, I have so increased them. This had the effect of increase ing estimated 1951 revenues by $1050® It does not appear to me that the basic spread data, as of January 31, 1950, that was the starting point, is correct on the Bungalow Courts classification, as between those with and without toilet and bath. The contrary appears to be true from the detail analysis on Pages lit and 15® If I interpret the figures correctly, there would be no bungalow oourt units with toilet and bath, after deducting the Motels - for practically all of the latter have such facilities, as per sheets lit and 15® Since such a conclusion would, of course, be in error, I maintained approximately the same relationship as heretofore for the bungalow court group®