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Transcription
Los Angeles, May 16th , 1932. OFFICE MEMORANDUM 9215-3-W Matter of valuation of water system a t Las Vegas, as w ell as ra te s to be charged, discussed with Mr. Haugh in Mr. Bracken's o f f ic e a t Las Vegas evening of May 9th. Mr. Haugh in siste d that regardless of accounting d e t a il, the f a c ts were that the company had sustained a lo ss of $29,994.00 on i t s water operations during period January 1 s t , 1920, to September 30th, 1931. I t was brought out that there was $21,000.00 in the d ep reciation reserve again st which we f e l t the extraordinary rep a irs to pipe lin e s and water mains, made in 1924 and 1926, should have been charged, instead of d ir e c tly to maintenance and re p a irs. Mr. Haugh was non-committal upon th is p o in t, but in s is te d th at regardless of the manner in which accounting was handled he f e l t that we had a c tu a lly lo s t money on our water operations a t Las Vegas during the period in question and a t some appropriate time in the near fu tu re, we should make another e ffo r t to obtain an in crease in our r a te s . F. H. K. »-J r3 MAY 16 1932
