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upr000105-010
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I agree.Mr. ths* Eeinbardt 4 September 30, 1952 & "'?? ? ' 9 1 1 think the foregoing things should be done immediately, if st all, As promptly as possible the LVX&tf Company should also divest itself of all industrial lands and other properties except the water department st Las Vegas now owned by it in the States of Nevada and California* these could be transferred to an appropriate subsidiary, t realise that it might take longer to accomplish this than to accomplish the transfer of the water production facilities from the Railroad to the 1VL&W Company* However I think the entire plan should be progressed as promptly as possible so as to leave in the ownership of the iflii Company only the water production and distribution system at Las Vegas* I am proposing the foregoing on the assumption that the ultimate sale ©f the water production and distribution system by a separate water company to the District would not result in substantial income tax disadvantages. This, of course, is a matter which should be carefully considered by the appropriate departments before the plan above is adopted. Bennett