Word: damming
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...printing plant in the U. S., at Rogersville, Tenn., and outside Rogersville the biggest farm in the Southeast (30,000 acres). It was thus a foregone conclusion that when George Berry began buying up mineral leases among farmers in the area later flooded by the TVA's Norris Dam, the marble he was looking for would turn out to be remarkable. Last week before a three-man condemnation commission in Knoxville George Berry estimated that his marble, now largely under water, might be worth...
...last week President Roosevelt had a long talk with Clyde Leroy Seavey, acting chairman of the Federal Power Commission, Administrator John M. Carmody of the Rural Electrification Administration and Ervin E. King, Master of the Washington State Grange, in whose bailiwick the Government is building the great Bonneville Dam hydroelectric project. When reporters trooped in later for the regular press conference, they found the President full of thoughts on Power. He launched into a long dissertation on the theory of utility rates. By the time the reporters were free to head for telephones, they had a front-page business story...
...projects of James Delmage Ross, onetime Securities & Exchange Commissioner, longtime head of Seattle's municipal power system and now administrator of Bonneville Dam, is a standard yardstick for all Federal power projects. Last week Administrator Ross took his yardstick formula to President Roosevelt at Hyde Park for approval. The President approved for Bonneville only, but the idea seemed to be that if it worked at Bonneville the formula would be applied permanently to TVA, Boulder and Grand Coulee Dams and the "little TVAs" of the future. Said Mr. Ross: "We ought to be businesslike about this thing...
...period of 40 years. In this formula, however, there was a big joker. The Government investment would not be the total cost of the development but only that part allocated to power. The rest would be charged off to flood control or navigation. On the Tennessee River, Wilson Dam, for instance, is valued at $33,000,000 but for yardstick purposes the power investment is considered to be only $22,000,000. Division of the $51,000,000 investment in Bonneville has not yet been determined by the Federal Power Commission...
...private powerman who has to pay interest on the entire cost of a dam or a steam station, this arbitrary allocation of Government costs seems thoroughly unfair. Moreover, a public project pays no taxes, which may take as much as 25? from every private power dollar. And after the Ross formula works itself to its 40-year conclusion, the Government apparently will be almost ready to give its power away. Cried the Republican New York Herald Tribune: "Bonneville may be a yardstick to Mr. Ross. To the plain citizen its economics are just slapstick...