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J a n u a r y 2 0 , 19 5 0 MEMORANDUM NO. 1 To: E, L. Bertolaeci From: Hoy a * Well® Subject: Preparation of Results of Earning study on the Ins Yogas Land and Water Company* This will confirm oar discussions on the above subject and in accordance with my memorandum to Mr. 1. I. Bennett of this date, will you proceed with the making of the investigation and preparation of the study and report. While the substance of the study and report will neces­sarily be the determination and the setting up of the rate base, revenue and expenses, and the resulting net for return along with a study of the rates, it is also the desire that these matters be set up in a form that will make their presentation easily under­stood. To that end it is suggested that the study be prepared in chapter form under the following headings: I* Introduction 1. Purpose and scope of investigation* II* History 1* Historical background. 2. Corporate organization. 3* Management. Ill Present Operations 1* Customers served, investment, revenue and expenses for last few years to show growth. 2. Rates charged for service, IV* Balance Sheet and Income Statement V. Results of Operation 1. Revenues. 2* Expenses. 3* Rate base. 4. Net Available for Return* 5. Rate of Return.