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M g '"'W' 172,000.00 may be taken as a fair valuation of the property for rate making purposes;. * Water right value, 3 cubic feet per second at #2000. f 6,000.00 Valuation of physical properties as of Dec.31,1930 62,403.63 Working Gash Capital 3,000.00 Total #71,103.65 The gross earnings for the year 1930 from domestic, commerieal and industrial services rendered by the water company were #30,360*10. Operating expenses including depreciation for 1930 #28,783*18 Taxes 3,753.69 Total Expenses 32,536.87 Net Earnings (Deficit) # 2,176*77. Based on the consumption of 581,867,800 gallons of water furnished in Las Vegas to 1397 consumers for the year 1930, we are of tbe opinion and find that the operating expenses, depreciation or retirement expense and taxes should not exceed the following. Rental on Railroad Facilities #14,455*73 Collections 3,120.86 Maintenance 2,455.95 Supervision 5,193.53 Reserve for Replacement,^ on #62,403.63 1,248.07 Taxes 3,753.69 Total #30,227.83 The Company has filed rates for the future which are the basis of this investigation, ranging from 25 to 50 per cent increase over the present rates, which are unjust and unreasonable for service at Las Vegas, and that in lieu thereof the rates should not exceed those set forth in the Commissions order, entitled, "Commission^ Rate." An appropriate order will be entered. - 6 -