upr000105 294

\ Mr. E. C. Renwick I didn't intend to suggest that the assets Company be transferred at a depreciated book amount, tohfo utghhe PI roddiudc tusieon that basis in suggesting the base for the issue of securities. I wou ldn't think there would be any capital gains tax if the property were trans­ferred at the full book cost. wwaosu ltd ob eg ivviee ywoeud tahs e mboernee pfriatc toifc tahle f arnoaml yMsainsa geofm enotn'es f vrioemw ptohien to.u tsi%de p-u r"pose irrespective of how it might be accepted. moani fnltaaitn readt Eenst etros thfeor ltahreg ep uirndpuosster ioefs .t heiIrf oswunc hc oisntd uasctcroiuenst itnhge ms(eil.vee.s, would install meters for their own use) it would be possible, through special contracts with each customer,: to work out a flat rate sliding scale. The ntyepceess)s iitsy soof miamipnrtaacitniicnagl afnlda tc roanttersa rfya rto snuocrhm asle rpvriaccet i(cneost tthoa etx ctlheu dec onottihneur­attoi coon mboaft s utcheh frleaquti rraetmee nptrsa wctiilcle .necessarily call for practical measures Mew Year wiHlelr® b riitn gis ,f eaalsmiobslte Cahnrsiwsetrmsa st,o tahnde mlaasy wVee gaals lw ahotpeer ptrhoabtl etmhse. get up in tThhee bsensotw wciosuhnetsr yt woi tyho ut ahne dc hMirls.d reRne.nwlck - wonder if you will The same good wishes go to Mr. Bennett, Mr. Reinhardt, and others. I can understand that a less complete severance than I indicated There would be, as is pointed out, a problem on furnishing water Most sincerely. RAW nr