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drilled a 12 inch artesian well to a depth of 635 feet, and obtain­ed an excellent flow of water. In 192$ a 2,500,000 gallon re­inforced concrete reservoir was constructed. The well and reser­voir cost approximately $70,000,00, New 16 and 24 inch mains were laid from the reservoir to the railroad yards, at which point the city mains take out. All these facilities are owned and maintained exclusively by the Los Angeles & Salt Lake Railroad Company, the valuation of which is placed at $177,147.$$, The Las Vegas Land and Water Company in turn pays rental to the railroad company, pro­rated on the amount of water used. Previous to April 1, 1929 the water company paid a flat rental of $200,00 per month for this service. The last nine months of 1929 the rental was $975.00 per month, and during 1930 it was raised to ^>1,433.5$ per month. Pt the hearing a written protest was received signed by 239 consumers of water, who were represented by counsel. The main protests were against the rates for auto camps, bungalow courts and rates prescribed for watering lawns, etc. These rates were declared to be excessive and inequitable with other classes of service. If more time had been available many more protestants in other classes of service would possibly have testified. RE VALUATION OF PHYSICAL PROPERTY From exhibits introduced and also from the company’s annual reports a value of $$1,92$.05 was placed on all physical property owned solely by the Las Vegas Land and Water Company; $19j524.42 of this has been retired since 1911 through depreciation. The value at the present time is $62,403.63. No appraisal of this property was made, and consequently the commission has ho idea what reproduction cost would be at this time.