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§2 - Mr. Wm. Reinhardt November 15, 1950 In summary form the results for the forecasted year 1950 are: Present Rates Investment Cost Original Cost Present-Day Cost Revenues $222,000 $222,000 $222,000 Expenses 221,013 231,110 269,348 Net Revenue 987 (9,110) (47,348) Rate Base 579,700 666,800 854,900 Rate of return 0.17$ None None ( ) Red figure. It is thus seen that not only will the Water Department of the Las Vegas Land and Water Company fail to earn a fair^return on the capital employed in rendering the water service, but it will fail to earn its costs of operation before any return. In other words, its operations are estimated to be in the red for 1950 and future years, irrespective of the capital base used - except for the investment basis wherein net revenue is just slightly more no amount for return. than expenses with practically A 6^^ return has been used as reasonable in determinfionrg 1t9he5 0 daerfei ciase nfcoyl lionw se:arnings. Such deficiencies as developed With Federal Income Tax Rate of 38$ InveCossttment Original Cost Present-Day Cost Est’d. Gross Revenue needed $279,450 $298,328 $355,520 w " " under Present Rates 222,000 222,000 222,000 Deficiency in Gross Revenue $ 57,450 $ 76,328 $133,520 Per cent increase needed 25.88 34.38 60.14 With Federal Income Tax Rate of 45$ Est’d. Gross Revenue needed $295,988 $316,307 379,495 1 tt under Present Rates Deficiency in Gross Revenue Per cent increase needed 222,000 "$ 73,988 33.33 222,000 f W T s S ? 42.48 222,000 fl577495~ 70.94