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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 IV. Answering IT of plaintiff’s complaint, defendant admits the allegations therein contained. T. Answering paragraph T of plaintiff’s complaint, defendant admits the allegations therein contained; save and except defendant denies the allegation beginning with the word "That" in line 24 and ending with the word "plaintiff" in line 32 of page 5« Further, defendant denies that plaihtiff would fail by the amounts set forth, or that the rate of return should be 6-l/4$» or that the revenue under proposed rates would be in the amount set forth as alleged beginning with the word "These” in line 6 and ending with the figures ”1951” in line 13 of page 6. Further, defendant denies that the plaintiff would have suffered a net loss, or would have failed by the amounts set forth on the cost rate base, or that the rate of return should be as alleged beginning with the word "If" in line 14 and ending with the word "base” in line 19 of page 6. Further, defendant denies that results of operation would be unsatis­factory under the prescribed rates as alleged beginning with the word "even” in line 2$ and ending with the figures ”1951” in line 30 of page 6. Further answering paragraph ? of plaintiff’s complaint, defendant states that it has not sufficient knowledge or information upon whieh to base a belief and for that reason denies that the cost of producing and distributing water has increased as alleged beginning with the word "Since" in line 4 and ending with the figure "127” in line 7 of page 7* Further, defendant, while admitting that the in­creased corporation income tax rate will lower the earnings of the plaintiff, defendant denies that plaintiff will fail by the amount 2