Strong is reluctant to commit the company to a specific amount of water to be delivered to the Las Vegas Ranch.
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Bracken recommends to Strong that Stewart's lease be renewed and discusses just how much water is to be included with the lease.
Discussion of the new lease for W. T. Stewart for the Las Vegas Ranch with provisions that Stewart is obligated to use all the water that comes onto the ranch, freeing the Las Vegas Land and Water Company from problems due to effluent.