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r ' % the Das Vegas Land and Water Company. This valuation was pre­pared for use in rate making purposes and is not the ledger ?value as set up in our hooks* Table Ho. 3 for the years 1925 to 1930 inclusive shows, as near as may he determined, the profit and loss of D.V.I. b W.Co through operation of water facilities ha§©& on valuation given in Table Ho. 2* It is thought that Tables Hob. 1, 2 and 3 contain information that will he required when appearing before the HdVada Public Service Commission for increase in water rates* Table Ho. 4 for the years 1925 to 1930 inclusive shows the profit and loss, as near as we are able to determine, based upon the Valuation Department*s valuation of L.V.L&wco’s. facilities but not including value of water or general expenses. Table Ho* 5 for the years 1925 to 1930 inclusive shows the profit and loss, as near as we are able to deter­mine, based upon record of amount in Investment accounts to­gether with expenses and renenues, all as reported by the Auditor. You will please note that Table Ho. 5, year 1929, indicates that value of LYI&WCo's facilities is #81,278.05 while Table Ho* 4, year 1929, indicates this value to be #102,332. These figures represent the present book value and the value according to the Valuation Depart-