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Mr. m. Reinhardt 7. December p| 1951 that company. It could also be accomplished by transferring th® distribution facilities of th® Railroad Company to the Las Vegas Land and water Company and have that company transfer all other assets except water production and distribution assets to a new corporation. I think the latter plan has advantages. The Las Vegas Land and ater Company is now acting as a public utility in the distribution of water and it need not obtain the approval of the Nevada Public Service Commission for th© purchase of the water production facilities of the Railroad Company and the continuance of operations as a public utility. I new corporation acquiring both th® production and distribution facilities would have to comply with action 6137 of the Nevada Compiled Taws, which requires every public utility before beginning operations to obtain from th® Public erviee Commission a certificate that th® present or future public convenience or necessity requires the commencement of such operations. In considering such an application the Commission might attempt to control th© capital structure and organizational setup of the new company. By continuing to us© the Las Vegas Land and ater Company as a distribution company we would be reasonably free from interference by th® Commission. I am certain that the Commission would approve of a transfer of the production facilities to a distribution company, but I do not believe w© should give the Commission an opportunity to impose conditions on that transfer. k suggested plan is that we transfer th® water production facilities to the Las Vegas Land and Water Company, change its corporate name to Las Vegas ater Company and have th© company transfar all of its assets other than water production and distribution -to a new land company having an appropriate corporate name. There are certain problems to be considered in making such a transfer. I do not have th® final answer on many of them and I think the entire problem should be given careful consideration by all interested parties before a definite determination is made to go ahead with the Ian which I have been discussing. Mr. Rsnwiok recently wrote Er, 'ehe advising him that we intended to make a recommendation to you concerning the transfer of the water production facilities and asking him