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s timed an average of 2.46 cubic feet per second, measurements being made by water meter; the balance of 9 • 698 being consumed by the railroad com­pany, ranch land, and that wasted. The Applicant has placed on these water rights a value of $30,000.00 per cubic feet per seeond, or $750.00 per miner's inch. $200,475.00 is the amount claimed as a water right value, based upon 6.682 cubic feet per second, whleh is tbs total amount used by the water company, the ranch, and that which was wasted during 1930. The ranch of 750 acres and to which 4.2 eubie feet per second o f - water is flowing, and on which the company derives a rental of $2800.00 per year is reported as outside earnings. The ranch will care for itself and its only relation to the operation of the water company for public services is the water which may be withdrawn for domestic and commercial service in Las Vegas, as population and business increases, in which event the capital of the water company will increase la proportion to the value of the water right per cubic foot per second. In the Heno Light and Water Case, Judge Farrington approved a water right value of $2000.00 per cubic foot per second, based upon the actual amount being used, and not the amount which had been appropriated, which was claimed by the utility. We are of the opinion that water at Las Vegas would not have any greater value than that devoted to the public service in Heno and Sparks, and therefore a value of $2000.00 per cubic foot per second, based upon 3 cubic feet per second, which amount is in excess of that being consumed at the present time, would be a fair value, or $6000.00 for a water right value. f a i r v a l o r f o r h a t e m a k i n g p u r p o s e s In considering these items the Commission rules that the sum of - 5 -