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s upward of $110,000 for schools, but a large bond Issue will be re-required, notwithstanding. These circumstances will almost certainly re­move from the popular mind any thought of the municipality^ purchasing the LVLandW. efficient system of water mains and the springs and wells, etc*, for years to come. There is of course the possibility that the Federal Govern­ment may be persuaded to construct a pipe line from Lake Mead to Las Vegas, and in that case the purchase for the city of the LVLand W* and LA&SL water facilities might well be included. It seems to me doubtful at the present time and under present conditions, but if it should de­velop I judge that adequate compensation would be paid to us. The following is a summary of the estimated 1941 valuations of property in the Oity of Las Vegas, indicative of the approximate share of the purchase price of our water supply which we should have to bear if the city should buy it and float an issue of bonds out of which to meet the purchase price: U.P.R.R.Co. LVLandW.Co. Other property owners 827,264 213,043 4,647.846 14.54$ 3.74$ 81.72$ Total $ 5,688,153 100.00$ "V: Office of Manager of Properties, Omaha, Nebraska. March 25, 1942