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#2 April 11, 1933 Mr. Knickerbocker: tens ace &@ the Hsilroad company did, which wee only a email item* e believe that this charge eh on Id not exceed #500*00. m also note that we are paying 73*12 per cent of six per cent internet and fosr per cent reserve on the entire investment, which includes each items &e housing over -dig Spring end 12 inch B*C pipe installed in 1911* On this item we will pay #.30*27 in 1933, although after deducting four per cent reserve for £2 yeare there remains only #460*53 in the account* this-some basis of chargee will apply in accordance with date and amount of Investment on each item included in the joint facilities. In 1918, a 16-inch vitrified olay pipe line, costing #3850*21, was installed by the Railroad company,- but was never placed in tervice; however, this amount le.still carried in the capitalisation, on which we are paying interest and* reserve. we are cognizant of the fact that the increase in our proportion of the chargee from 60 to 76 per cent ie due to the leaser consumption of water by the I-iailrosd at lae Vegas and that the settlement of this account is purely an inter- coapsny transaction; but we feel that the monthly chargee should not be allowed to grow out of roportion end that consideration should be given et this time to reducing the high charge for Maintenance and Operation, and el| .lasting the interest charges on that portion of the joint facilities that hove been retired. fours truly. wnmr'Tcrmmr,------------ Vice ^resident and Agent.