The Boise citizen. (Boise, Idaho) 1906-1910, 1909-02-05
WATER Power TRUST
THE GREAT FUTURE COMBINE THAT PROMISES
TO OVERSHADOW ALL OTHERS

zine predicts that the water power and will be
formidable organization the line OF monopoly with which
American people will have deal Thearce too pro and
indefinite quote full but the following statements may be read
with profit
happens California Of the richest Of all the States
the Union in its waterpower 1t is estimated that the
streams flowing slopes of the Sierra in the north
e part Of the State capable of developing five million horse
power electric energy happens also that California dec
The industrial progress Of the State must depend
on utilization of waterpower The value of watepower IS
enhanced by the high price Of coal and the energy of mountain
stream by Caornas engineers $500 for each
This makes the power of these Sierra waeourses
worth the ng figure Of S1OOoooooOo This is sum
worth having the if it be had for the asking and there
have lacking of sufficient to ask for Conse
queny California has reached the second stage the road to the
creation giant power while many other States still
in the first stage.
Aerady some 100000 horsepower being developed from
the rivers California and is being used in driving trolley
cars in mining and in turning the wheels of factoesSom of
the remarkable achievements in the ongdance ansmss
ion of electric power be found in this Pacific State Water
power development proved highly profitable and the
ton of power companies has fortunes for who were early
in the field AS consequence this profitable activity there has
been past years great rush concessions
Some sought with view to actual development
by those obtained the grants Others represent oreanded
efforts part of existing companies to shut off the possibility
of competition The great majority speculative enterprises pure
and simple obtained and kept alive for the
purpose selling big profit The opportunity Tor big
profits from will when companies already engaged
in selling power want their production prevent rivals
from coming field just happened times over in
every part of the country with franchises other forms
public property handed enterprng corporation builders on
platter It good business for the concession holders and
company promoters good policy the part Of the Amer
can public encourage this tendency the uneguated command
of their valuable natural resource?
Perhaps this threatened concentration of waerpower
ship not really threatened all Possibly the future trust
only MYTH control of valuable waterpowers given
freely restrictions anybody who asks for it. won't this
itself competition? If there is multitude OF concession
holders won't this very protect the interest Of the general public
who necessity be power consumers The experience OF
California contains the answer these questions.
While in California at time large number OF
separately owned waterpower grants the process of consolidation
gone rapidly down 1905 that by far the greater part OF
the waerpower rights the State concentrated in ve large
companies The process followed that have watched in
various other industries notably in oil and steel and anporta
ton lines small plants being gathered into large companies and these
turn being brought together single dominating conDna-
The important power companies California beng reduced to
should expect to find one OF them obsobg the others
as the next STEP Of them being united in new
corporation What happened 1905 the Pacific Gas and
Electric Company organized for the purpose the pros
pectu underwriting syndicate handling an issue OF its ecr
tiles of purchasing and holding the stock or stock and
property California Electric Cooralon the San Fran
cisco Gas & Electric Company other public utility
poraons operating central California the management might
deem it advisable to acquire.
other public utility corporations the management might
deem advisable to acquire generally understood the
four other power companies considerable size well such
outside power would give practical monopoly OF
the field AS yet this combination has been carried through
but the Pacific Gas Company has been Strengthening its
hold on the California power situation another way by buying up
gas electric companies and thus securing control of the
important markets power The company commands the field by
dominating power supply San Francisco Oakland and
hundred places including practically all the larger cities in
the upper part Its operations extend territory
more than thirty thousand square miles four times the size
of New Tersy State which itself able maintain public
corporation powerful enough WELD mighty influence The