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Omaha | August p 1954 704-36 Mr. E. E. Bennett - L os Angeles (CC-Mr.A.E.Stoddard-Cmaha Mr.C.M.Gory -Las Vegas Mr.Wta..Reinhardt-Los Angeles Mr.C.M.Bates-Los Angeles Mr.W.R.Rouse Mr. W. H.Hulsiz er--OOmmaahhaa MMrr.. LL.. RL. .MBauargr i--LQamsa hVae)gas In accordance with request contained in your letter of June 22, 1954, file 80-11, representatives of the Accounting Department were in Las Vegas, Nevada from June 28, 1954 to July 30, 1954, when the final accounting for the purchase of the water property was completed by Conway and company acting for the Las Vegas Valley Water District. She amount due Las Vegas Land and Water Company for the property sold is #2,317,274.93, as shown on statement dated July 26, 1954 which was sent you with my letter same date. We understand that Conway and Company will certify this figure to the Water District as representing the final cost of the water property. Initially, the auditors questioned the collectibility of some #200.00 of our Accounts Receivable; however, in conference with Mr. Conway the exception was withdrawn. fha Water Company was paid the preliminary purchase price of #2,299,029.64 on July 1. 1954; thus, an additional amount of #18,245.29 is now due it. When this amount is paid from the purchase fund in escrow, there will remain in escrow #157,771.25 which it will be necessary to refund to the Water District. The large refund to be made to the Water District is due to not incurring expenditures on authori zed work order projects during May and June 1954 that were estimated to be expended during those months. Will you kindly progress this subject further with respect to the ultimate payment of the balance due the water Company.