Word: damming
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Public-power and private-power advocates have quarreled and quibbled for a decade over whether the Federal Government should 1) build a power dam in mile-deep Hells Canyon on the Northwest's Snake River, or 2) let the privately owned Idaho Power Co. do the job. The issue seemed settled last year when the Senate scotched, 51 to 41, a Democratic bill authorizing a federal Hells Canyon dam costing upwards of $300 million. Idaho Power, which got the required licenses from the Federal Power Commission in 1955, went ahead with plans to build three smaller dams...
...English-bred, TIME [May 20] has blundered and been unhorsed. The colt, by the Irish stallion Migoli out of the Irish mare Majideh, was foaled and reared at the Aga Khan's stud in County Kildare, Ireland, at whose studs in that county both his sire and dam were foaled...
...Korean war-need no longer be tougher than restrictions on Russia. Said one White House staffer: "Let's face it. Behind the President's remarks is his very real thinking that it is idle to attempt indefinitely to arrest the flow of water downhill. Every dam must have its outlet...
...write-off was hardly a "political theft" since 913 power projects, including some in Byrd's own state, have received similar tax breaks in the past seven years. Furthermore, while the company will save in taxes in the dam's less profitable early years, its depreciation deductions will later shrink just when its profits rise, and eventually it will pay the tax saving back...
...gave public powermen a new issue. They pointed to the case of the Northwest's Washington Water Power Co., which got a fast tax write-off on its Cabinet Gorge dam project. The company told stockholders that 71% of their most recent dividend was due to fast amortization, could be reported as a capital gain...