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Digital Provenance
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Publisher
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Transcription
Omaha - July 24, 1949 91B0 3989 Mr* X. X. Bennett: Z have negleoted to reply to your personal letter of July 17, your file 153-S-5-H, enclosing copies of Mr. Maas' letters to Mr. Hulsiser of May 17 and June 18, in connection with Las Vegas Land and later Company assessment. Z discussed the matter with Mr. Ashby and while it is apparent that failure to comply with Mr. Sexton's demand with respect to interest and depreciation may be regarded by him as affording a basis for increase of our assessment, it is not at all clear to us that his suggestions hare any proper relations whatever to the assessment value of our property. Doubtless consideration should properly be given to any improper basis of charges in connection with the regulation of water rates, but even in that event it would seam to me that the interest rate is not excessive and that over the period of the contract it has been fully warranted, even though temporarily lower rates of interest may be current as the result entirely of abnormal conditions. You have indicated that there is no demand for reduced water rates and that the rates in effect in Las Vegas are relative lower than those charged by other water companies. Z am reluctant to concede any authority in the Tax Commission to rewrite our contract or to prescribe a different basis of charges
