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Transcription
V -4“ underlying land. If consideration is given to my proposal, I suggest that Mr. Wehe be asked to make a careful estimate of the present value of all of the physical property, somewhat along the lines of what would be arrived at on the same basis as would be considered in a condemnation proceedings including an item for going concern value and all other values and elements of value and that we have a very careful appraisal made of the market value of the land west of the railroad as indicated in the foregoing. Taking a long range view of this situation some of our people predict that eventually gambling may be made illegal in Nevada, in which event Las Vegas would at least partially collapse and become at least to some extent a ghost town. If that should happen our situation would be much worse with practically no prospect of earning a return on our investment • (sgd) W. H. Hulsizer
