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s u b j e c t : Work Order 750, Increase Production Capacity of Wells* LAS VEGAS LAND AND WATER COMPANY Omaha - Mareh 3, 1954 BD 9-P-4 Mr* L* R. Maag — Las Vegas, Nevada: Your letter January 12, 1954, file W 23-1-1 E* It is noted that your eloseout letter makes no mention of the value of salvage pumping facilities removed from water wells as provided for by work order 750, to be credited to operating expenses* Therefore, to complete accounting covered by this work order, will you please furnish a detailed statement, showing description and value of the salvage material which will be debited to the account, "Material and Supplies.* Under provisions of the last paragraph of Section 3 of the contract covering sale of the water production, storage and distribution system at Las Vegas, Nevada to Las Vegas Valley Water District, salvage material from projects retired prior to sale date is not considered as having been sold to the water district and should therefore not be turned over to them with other property included in the sale* According to our records, the salvage value of the material removed under work order 750, will be the only value of such material recorded on the books of the L.V.L.& W.Co*, subsequent to September 1, 1952* Special mention of this is now made in order to avoid later confusion in connection with other material which is to be turned over to the Water District* For example, the agreed basic purchase price of the properties to be sold as of September 1, 1952, included the book figure for material and supplies (referred to as ledger value) of $29,902*90 and sections 9 and 10 of the contract provide for adding to or deducting from that figure on the sale date, the difference in ledger value which would be the book figure* Since the ledger value ©n the sale date will include the value of the salvage material acquired under work order 750, providing it has not been sold by that time or profitably disposed of, proper allowance will have to be made for the amount thereof and such salvage material will, or course, remain the property of the L* V.L.& W. Co* L* V* . PJBL^T. t Xt For the Auditor. ~ J r