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J , Omaha - July 21, 1952 3703.1 C O P Y Mr. A.E. Stoddard: (2) CC: Mr. Wm. Reinhardt - Los Angeles Supplementing my letter of June 16, 1952, reporting on conference In Mr. Reinhardt's office at Los Angeles with members of the Las Vegas Valley Water District concerning possible sale of the water collection and distribution systems to the Water District: At this meeting it was developed that the Water Dis­trict desires to hold an election on the bond issue not later than Sept. 15* 1952. Before they can submit this issue to the people for a vote, they must have a definite figure from us as to the amount we will take for our properties. I have had prepared, and am attaching hereto, a state­ment showing the ledger value and book value of the production fa­cilities at Las Vegas owned by the L.A. & S.L.R.R.Co. and similar information for the Las Vegas Land & Water Company. Prom this you will note that the combined ledger value of the two properties is $1 ,861,039.1 2 ; and the combined book value, $1,459*^08.13. I therefore recommend: 1) That we be authorized to negotiate the sale of these properties to the Water District at any amount we can secure not less than $2,000,000. 2) In case we can negotiate the sale of the properties