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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 1? 20 21 22 23 your operating expenses would haws boon loss that year and your capital account increased* If you charged that sevefal thousand dollars of pip® to new investments you couldn’t have charged it to operating expenses* It would have been practically the same ! thing, but could I get an explanation of some of these* MR* FOLGERt I will undertake to find that out for you* MR* SffiCTOHt The #94,035-yeu night start from this. That appears on your report* jjjj FOLGERt In as much as these reports are compiled in Oaaha m will undertake to find out. MR* SEXTO*: You oan have a copy of that sheet there. You under­stand if it was a local company there would have to be a complete annual report. You might also aks them Mhy there are those other Items on the bottom. Those #4,000,000.00 oil Xands-tt would be a nice sport If it jugt left that off and put in your oahs and it would just balance, but you oan understand when you have a surplus of #10,000 one year and #6,000 another year and make no mention of It, it isn’t complete. I would still like to add that there is about ten percent Increase in the fixed capital in eight years in j what looks like a good business and along the lines that Mr. Emltfc I asked, it looks like a little waste. MR. FOtGIRt I would like to add that we now have underway a progra of replacing in Glarts t m Yogas Townslto where we propose to renew all of the redwood lines with oast iron, fe have already commenced this program and will carry it on as soon as the weather permits. MR. SEXTO!* Bo you figure you are loslgn water from the redwood sa&insT A. fe lose some* Each time a leak occurs we fix it immediately, but the answer to that question is •yes.* Q* trere is another thing, you have two and a half million gallon resevoir. I ©a not familiar with it. A. *e», it is located in the vicinity of the source. 43