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HENRY DAHLBERG & COMPANY EST A BL ISH ED 1 9 3 3 INVESTMENT SECURITIES 9 EAST PE N N IN G T O N STREET T U C S O N , A R IZ O N A 7 T e l e p h o n e 8 5 9 1 Mjp* William Reinhardt, Vice Pres ideal; Union Pacific Railroad Company 422 lost Sixth Street Ins Angeles* California Dear Mr. Reinhardt: For some tine now we have been quietly working with a client, who is interested in the purchase of your water property in Las Vegas, levada, le hare teen carrying on these negotiations in more or loss's confiden­tial amnner since we did not want anyone to find out about our activities, le now find out that your oompany has sent out a few brochures relative to the Las Vegas water property, which w© construe to mean that you are trying to interest these parties in the purchase of the water system. Unless you have given an option on the property to one of these parties, we would ap­preciate having a copy of this brochure since It might aid us in our endea­vors to secure a purchaser of the property. Our files show that the water rates in Ins Vegas, Nevada, are a flat rate regulated by law. We are won­dering if there has been any change in this water rate by amendment to the law since we talked with you in Loa Angeles last April, This question is rather important should the property stay In private hands* le have felt that it would probably be better to work along the lines of se­curing a private purchaser for your water property, since we felt that the international situation would probably sake It impossible to try and work the water district situation out due to the unavailability of pipe and machinery necessary in the larger project* " ' We hope that our work to secure a buyer for the property has not been assum­ing top muoh on our part, since,»e gathered from our talk with you last Spring, that your company was interested in disposing of this properly if they could secure their price. M. 0, 'WOODWARD, Manager Municipal Department