upr000342 58

i * K 1 p*i*«*jr pttfpoc* &t tfe# Federal taeone tax *>*». ?tslon, permitting amortisation in & 60 month ***** to &11&* individual companies, which were required to expend #ub#t*ntial amount# on account of » p neoeegities, to secure prompt benefits In inn ora# tax rxayaente. th# sol# benefit derived by the La# toga# Land and water Coepaay a# a result of the amortisation charge#, was to doom*## Its Federal in-oara# tar##, attained by filing consolidated inoome tar re-t? ira# for the Onion fcoific and *ub*i diary eoapejiiee, ih# project# were eonairueted to meet the energenoy created by H w*d\ a*id to p e M t the City of. La# ¥@gag to participate in the m » effort required by the Uni ted state# Severtira en t • § 8 Mr* Boofce# is fully is accord with set forth herein* the principle# v. h. ma-aissisa