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diiJ L a s V e g a s l a n d a n d W a t e r C o m p a n y 0. WHITTEMORjE, Prest., Los Angeles, Cal. 1. BETTIS, Vice-Prest. and auditor, Los Angeles, Cal. . H. COMSTOCK, Secretary, Los Angeles, Cal. . H. LEETE, Treas., Los Angeles, Cal. OFFICES PACIFIC ELECTRIC BUILDING LOS ANGELES, CAL. AND F. A. WATERS, AGT., LOS ANGELES, CAL. W. R. BRACKEN, AGT., LAS VEGAS, NEV. LAS VEGAS, Rental of houses at Lijs Vegas. Los Angeles, Cal., September 11, 1909, Mr.J.Ross Clark, Second Vice President, S.P.,L.A.& S.L.R.R.Co., ^ 0 Building. Dear Sir: Referring to your letter of August eighteenth, on the subject of the amount of rental to be charged for company houses at Las Vegas: I attach hereto a memorandum showing a few figures rela­tive to the cost of 4-room and 5-room houses,- estimate of the cost of repairs, insurance, taxes and so on, with the result that, provided the expenditure does not exceed the estimated cost of erecting the houses, a rental of $16.70 per month for the 4-room houses and $18.67 per month for the 5-room houses would be suffi­cient to provide for repairs at the rate of 3$ per annum and de­preciation of 1-1/2$ per annum, and give the company 6$ interest on the amount invested. If, however, we were to get a profit of 4$ per annum, which I understand is the suggestion contained in your letter of August eighteenth, (that is 4$ more than the 6$ already provided for in my figures) we would be obliged to charge $22.35 per month for 4-room houses and $24.90 per month for 5-room