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MCNAMEE & MCNAMEE A t t o r n e y s a t L a w EL PO R TA L B U ILD IN G LAS VEGAS, NEVADA September 17, 19**9 I I 1 ; B . "B 2 0 fft#! n Las Vegas Evening Heview-Journal Las Vegas, Hevada Gentlemen: This refers to the news item set forth in your issue of Friday, September 16, 19^9, headlined, “Las Vegas may buy water system - Company, City ©ffieials in mood for sale,** purporting to report the result of a conference held last Thursday September 15* The article is entirely misleading and is not only embarrassing to me but to the Las Vegas Land & Water Co. At the conference in question, someone asked the question, "Why doesn’t the City buy the Land and Water Company?** I, as an individual, asked the general question as to whether or not the city was interested in discussing the matter, and expressly stated that I had no authority to speak for the water company. One of the Commissioners present stated that the City wo be interested if the price was right. I remarked that I had read in a paper some months ago that one of the Land and Water Company officials had made some kind of a statement relative to selling the water company, and one of the Commissioners remarked that the official’s statement was only a general one and that no details had ever been expressed, submitted, or discussed. Someone then questioned as to valuation of the Las Vegas Land and Water Company, and someone else present, not I, stated that he had seen in a booklet where the Land and Water Company was assessed at around $1,200,000.00. The book value of the utility company was not mentioned by any one. There was no plan or any discussion of a plan to name a special committee for the purpose of making an investigation of the feasibility of the project of buying the Land and Water Company, nor was there any statement that the company was prepared to send representatives for the purpose of exploring or discussing the matter. Since June 19^-6, I have not represented the Las Vegas Land & Water Company, except on one special occasion, which had no connection with the sale of its business. Will you please publish a retraction of said article. LAM:jh LEO A. McHAMES