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'?P: H.F*C. Jan. 14, 1952 T.fl.q T OMS LAND AND WATER COMPANY NEGOTIATIONS (con.) War Amortizations: During World War II, the utility wrote off $160,482.31 of pipe extension costs* This write off, as operating expense (or otherwise) helped the Land and Water Company (which has other and undisclosed operations in California) to reduce its income tax to the Federal government* Let us discuss this carefully, as a possible deduction. Overbuilding: The 24-inch cast iron pipe line from Charleston Reservoir down to Main Street, may, as we shall decide later, have been overbuilt. It will flow more water than half the wells produce, or the reservoir holds. For discussion* Deferred Maintenance: The reservoir covers need new tropic roofs* Are very shallow-* hold about 6 feet of water. Necessary extensions: Discussthe Westleigh Tract, which receives "border” service. 2 -