East Oregonian : E.O. (Pendleton, OR) 1888-current, 1915-09-24
Full Text of Much Discussed Ferris Bill



| in Territory. or in two or more
| States, the regulation and control OF
service and Of charges for service TO
consumers and Of the issuance OF
stock and bonds by the lessee is here
| by conferred upon the Interstate Com
merce Commission: Provided. That
the physical combination Of plants OF
| lines for the generation, distribution,
and use of power or energy under
this Act or under leases given here
under not in violation of law may be
permitted. in the discretion of the
s. Ccretary of the Interior,
Sec. 4. That no lessee under this
Act shall create any lien upon the
land leased nor upon any power pro-
ject within a Territory, or intended
for use in the generation and trans
mission of water power or energy in
two or more States and developed un-
Ger a permit issued under this Act by
mortgage or trust deed except ap-
proved by the Interstate Commerce
| Commission and for the bona fide
purpose of financing the construction
or operation of said project. ANY
successor or assign of such property
or project, whether by voluntary
transfer, judicial sale, foreclosure sale,
or otherwise, shall be subject to all
the conditions of the approval under
which such rights are held, and also
subject to all the provisions and con-
ditions of this Act to the same extent
as though such successor or assign
We're the original lessee hereunder.
Sec. 5. That upon not less than
three years notice. which may be is
sued at any time after three years
| Immediately prior to the expiration
Of any lease under this Act, the Uni
ted States shall have the right to take
over all the properties which are de.
pendent in whole or in part for their
usefulness on the continuance of the
lease herein provided for, which may
have been acquired by any lessee un-
der the provisions of this Act, or the
right to take over, upon mutual agree |
ment with the lessee, a severable and |
complete unit of any such power sys-
tenn, upon condition that it shall pay
in a lawful warrant drawn on the |
Treasury of the United States, or !
otherwise, before taking possession /
the fair value of such property, such !
value to be determined by mutual !
agreement between the Secretary of \
the Interior and the lessee, and, in
case they can not agree, by proceed
ings instituted in the United States
district court for that purpose Pro-
vided, That such fair value shall not |
Include or be affected by the value of 4
any public lands, rights of way, or
other property leased or granted un-
Ger this Act by the United States or
by the value of the franchise, good
will, value as a going concern. future
profits from pending contracts. or
revenues, profits. or diyi-
dends.
Sec 6. That in the event the Uni
ted States does not exercise its right
to take over, maintain, and operate
the properties as provided in section
five hereof or does not renew the
lease to the original lessee upon such
terms and conditions and for such
periods as may be authorized under
the then existing applicable laws, the
Secretary of the Interior Is authorized,
upon the expiration Of any lease un-
ier this Act, to lease the properties
IF the original lessee topa new lessee
upon such terms, under such con-
1itions, and for such periods as ap-
plicable laws may then authorize, and
lpon the further condition that the
new lessee shall pay for the proper
lies as provided in section five of this
Act. In the event the United States
ioes not exercise its right to take
over the properties, as provided in
section 3, and a renewal of the lease
o the original lessee is not made, and
10 lease is made of the properties to
L new lessee, then the lease at the
option Of the lessee shall continue in
existence upon the terms and condi-
ions in force at the time fixed for
is expiration until such time as the
property is taken over by the United
states, as provided in section five,
Or by new lessee, as provided in sec
-ion six, or the lease is renewed;
Provided, That the original lessee
shall have a preference right to re-
newal over and above any new lesse
upon such terms and conditions as the
law and regulations then in force shall
Sec. 7. That where the public in
-erest requires or justifes the execu-
ion by the lessee Of contracts. for the
sale and delivery Of electrical energy
for periods extending not to exceed
twenty-five years beyond the fifty
year period herein named such con-
tracts may be entered into upon the
approval Of the Public Service Com
mission or similar authority in the
State in which the sale or delivery Of
COVER is made, and upon the appro-
val Of the Secretary Of the Interior Of
he United States; or II sold or de-
livered in a Territory or In a State
Without a regulating authority, then
Upon the approval of the Secretary
)f the Interior; and thereafter, in
he event OF the termination Of the
ease as herein provided, the United
states or any subsequent lessee shall
lssume and fulfill all such contracts
'ntered into by the original lessee.
Sec s. That for the occupancy and
Use Of lands and other property Of
he United States permitted under
his Act, the Secretary Of the Interior
3 authorized to specify in the lease
nd to collect charges or rentals for