The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1912-02-09
Water Power Monopoly

That the fight of the conservation
lists to keep water-power from being
monopolized will be far from easy is
shown by the discovery of "joker"
in the bills introduced recently in the
New York legislature on behalf OF the
committee which has been investiga-
ting water storage. Here is meas
ure supposed to be in the interest OF
the people, yet analysis shows that
at the essential points 1t cleyerly
PLAYS into the hands of the inter
ests" and not only gives an almost
complete monopoly for so years TO a
little group of exploiters, but pro-
vides for the maintenance of this
control when the 50-year term has
expired. The bill permits corpora
tions to build reservoirs and market
either water or electricity. A rental
would be paid to the state, based on
the storage capacity of the reservoirs.
But apparently there is nothing to
prevent the company from selling
power cheap to its friends, while
charging outsiders all II could get,
and this handsome profit could be dis,
tributed among those interested.
The passage in the bill to which
strongest objection is made is the
provision that these corporations,
nominally operating without profit to
stockholders may, If net income per-
mits, repay with interest the sums
paid for stock. and that at any time
after provision has been made for
meeting certain specied changes
"the surplus income shall be ratably
rebated and paid to the parties who
shall have paid for the benefits" A
case in short, of philanthropy and
! per cent" And while getting a good
investment this "quasi-public service
corporation" which the committee
| gravely recommends would be giver
enormously valuable rights Of emf
nent domain. The New York Trib
une calls attention to the important
bearing Of this on the great Sacan
daga power scheme, which the watel
supply commission favors. The res
eryoir projected would cost $4,000
600 and would food an area along thu
upper Hudson as great as LAX
George. Most OF the land included
has been acquired by a little groul
which also controls the most desiI
able power sites. But there are
few bits not yet acquired, which II
terfere with the building of the dan
and the bill proposed would clear tn
way for them. After so years. to
sure, the works would go to the STATE
but the bill provides that the "ben'
, ficiaries" should be given contracts
tall" and thus the present owner
would have a priorclaim with a
! opportunity to secure favorable col
. tracts by the same methods now en-
!. ployed to secure favorable franch
A SEES.
A bill in the interest Of the poop
should like Caesars wife, be aboy
suspicion. Americans have fir
sense of humor and are too tolerai
/ Of "jokers," perhaps secretly ADM
ing their smartness. Who is respo
sible for this one is not clear Son
profess to see in II the fine hand
Ray B. Smith, formerly clerk Of Il
Assembly who has a reputation Il
dexterity in such matters. 1t is II
possible, say the critics. that Il
traps which abound in the bill cou
have been accidental, for 1t shows
every detail marks of careful prepa
alton The chairman of the comm
tee, Senator Ferris, gives his ASST
ance that the committees couns'
Arthur j. Baldwin, and various c
| perts besides, aided in drafting 4
measure. II the critics are right
| their Interpretation the experts ha
| been altogether too predominant.
is time for the people TO agree IN
| in legislation a Joker is the unpi
donable sin, and that ignorance is
excuse. 1t should not be left for OF
siders to discover hidden treachery,
/ Snrinqfeld Ranuhlican