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32 <br /> In <br /> 0 <br /> 0 <br /> m <br /> 0 <br /> based on various assumptions. -, <br /> As you knnow, our Committee has been working well <br /> over a year now with the assembling of data and the making 0 <br /> of operating studies, that we have come around now to the <br /> view that we may be able to evolve and present for the con- <br /> sideration of the Commission a formula, to use a simple word, <br /> a formula of apportionment which is not required in its <br /> genesis, at least the laborious process of making operating <br /> studies, which is a formula that will have to be tested by <br /> an operating study, working backwards, but would not neces- <br /> sarily evolve from such an operating study. <br /> Our thoughts on that stem from the fact that the <br /> current operating agreements that have been worked out by <br /> Mr. Mendenhall and Mr. • Leavitt, which seem to be working <br /> quite satisfactorily, are not based in the final analysis on <br /> operating studies, and we are directing our thinking along <br /> the lines of a similar formula to cover the permanent apportion- <br /> ment, and we hope to be able to present that idea in concrete <br /> form at an early meeting of the Commission. <br /> In effect, we are tabling, for the time being, fur- <br /> ther work on operating studies, which can be endless., be- <br /> cause you can mate just as many assumptions as you please, <br /> and get just as many answers as those assumptions will lead <br /> to, <br /> I am elaborating on this simple statement in our re- <br />