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Digital Provenance
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Transcription
UNION PACIFIC SYSTEM CARL R. G R A Y PR E S ID E N T UNION PACIFIC RAILROAD COMPANY OREGON SHORT LINE RAILROAD COMPANY OREGON-WASHINGTON RAILROAD & NAVIGATION COMPANY LOS ANGELES & SALT LAKE RAILROAD COMPANY 1416 DODGE STREET OMAHA, NEBRASKA May 25, 1931. Mr. W. M. J effers, Vice President, Omaha, Nebraska. ^Mr. A. S. Hals ted, General S o lic ito r, Los Angeles, C alifo rn ia. w ft w; M AY 28 1931 Gentlemens Los Angeles & Galt Lake Railroad Company requisition Bo. 41, approved by the Executive Committee on May 19th, covers construction of 2,425 fe e t o f water supply lin e at Las Vegas, to serve In dustrial D istric t No* Is I t has been the policy of the Income Tax Department not to authorise ra ilro ad companies to charge against Income accruals of depreciation on any property other than equipment. Since It is the practice of the Las Vegas Land and Water Company to aecrue depreciation on pipe lin es at 2 per cent per annum, which Is allowed as a charge against income fo r tax purposes, i t Is desirable to have the pipe lin e owned by the land Company, and thus get the benefit o f the saving in income taxes, even though the amount may be sm all. W ill Mr* Halsted therefore please arrange to have the necessary steps taken to extend the franchise o f the Las Vegas Land and Water Company to cover Industrial D istric t No, 1,
