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1. It does not Include the capital actually expend­ed and recorded on the books for all of the water produc­tion facilities of Union Pacific Railroad Company used or useful in the production, transmission and delivery of water to the Water Company. The true undepreciated in­vestment cost, or book value, of the plant of the Rail­road Company exclusive of land and rights of way as of December 31, 1950 was $773,554.20 (June Tr. p. 185) and not $514,855.45 as found by the Commission. 2. It excludes the cost of additions and better­ments to said water production facilities which have |§ been or will be made in the year 1951. The estimated cost of 1951 additions which are excluded is $69,250.00. (Table X, Ex. B) 3. It excludes and makes no allowance for the value of all land of the Railroad Company (other than 240 acres of land) which is used and useful in the production, transmission and delivery of such water, including rights of way for power lines and transmission lines. The value of land excluded is $43,900.00 and the value of rights of , way excluded is $8,000.00, a total of $51,900,00. (Ex. A, p. 32) i 4. It is not based upon the true original cost of said water production facilities. The correct depreciated Original Cost rate base for 1951 is $771,300.00 (June Tr. p. 72) as compared with the rate base of $460,061.88 found - 3 -