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lot Angeles * March 3, 195^ Mr, L. !• Maac “ h i Togas* (CO ?* Mr, It M, Sutton * Omaha Mr, X, S, Bennett • Los Angeles) Please refer to roar letter to as of February 23, 195b, your ftlea W 9*1«3 and ¥26, relative to transfer of certain items of tranolto pipe and fittings fron the Railroad aeooonto to LTIM accounts. Ifoder agreement of June 1, 1953# between the Railroads* the Voter Company# and the Lao Togas Talley Veter District, the fiailroado and the Veter Oeapeny agreed to sell to the District, under Section 1 (h), all of the aetorlalo and supplies belonging to the Voter Company. Under this agreaneat the lailrsad Conpany does not agree to sell any of Its aaterials and supplies to the District. Shore is nothing in the oontraet which in any way Units the right of the Voter Company to purchase natsrials and supplies for nso in the operation of Ito wator ayoton, She Voter Oeapeny hao tha right to buy aaterials sad supplies free tha Sailread Conpany as well aa any other vendor. So long no the Materials and supplies purchased by the Vatar Conpany are parchaeed in good faith and are useful aaterials and supplies, the District is obligated to acquire then under the terns of the agrsenaat, therefore, 1 approve ef your iamediately transferring to the Voter Conpany the usable aaterials now owned by the i «*h h Company at their ledger value. ®*ere is nothing in the agreement of June 1, 1953, that supports Mr, Montgoaovy's view that any of the aateriolo and supplies of the Xeilroad Conpany are included in the hasle purchase pries, Sho purchase price for the aateriolo end supplies owned by the Voter Conpany upon the sale data is the difference between tbs ledger value of those supplies on the sals date and the ledger value of the aaterials sad supplies which were on hand as of SeptsUber 1, 1952, the then lodger value being $29,902.90. Zf the lodger value on the sale data exceeds this oua, the difference is added to the purchase price. Zf the ledger value on the sale date Is loos than this pries, the difference is deducted fron the purchase pries. XCR/J W . H. J: MAR 3 >954 MAR L. (S%»ed) WM. REINHARDT Mn, Reinhardt If f# MAR 3 1954 3 1354 C. C.