The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1918-02-13
EXTRACT FROM ANNUAL REPORT
The Comptroller Of the Currency
Maintenance Of Efficiency Public Utility Companies

"National and state banks, anu
many thousands of small and large In
vestors, have suffered seriously from
the decline of the earning capacity OF
public utility corporations and the con-
seuuent shrinRage in the value OF their
securities, representing investments OF
MANY hundred millions OF dollars.
These losses naturally diminish the
mower and disposition Of the pubic 10
respond to the calls of the government
for money for war This danger should
Ierorse. I venture to suggest, the anx-
ietv and stimulate the efforts or the
congress and of every patriotic citizen.
A more urgent and pressing peril IS
forced upon our attention by the Cd
viors fact that we are dependent so
largely on the efficiency and strength
| of these corporations and on our rail-
roads for speed and success in pre-
pairing for and prosecuting the war.
1.-THE corporations referred to sup
plv light, heat, power and electric rail-
way transportation for passengers and
freight They touch intimately the
daily life of the people. In normal
times they have been favorite targets
for sneers and savage criticisms from
large parts of the public and the press.
In some instances, doubtless, they
have deserved and invited hostility
In others, the attacks upon them prob
ably have been unjust and unreason-
able. Frequently they have been the
victims of beneficiaries Of local
politics, suffering injury in the end in
either case. Yet, generally they were
able to serve the needs of their COM
roa oh1a aff1Cipncy
and to earn fair returns On the money
ened with ruin. If they are allowed to
most important war work of the gov
eminent will be crippled or paralyzed.
The work of war has thrown upon
many of these corporations strains
which they are unable to endure with
out prompt help. The costs of their
labor and of all material for operation,
betterment and upkeep have increased
heavily and suddenly. They are re-
quired to increase radically and quick
ly their service and facilities. Indus
tries manufacturing war munitions
and materials demand of the public
utilities corporations constantly great
er supplies of power and light. At the
industrial centers, car lines are being
rushed and overburdened by new
| armies of workers. The gas COM
panies are called upon for gas for
cooking and heating in quantities be-
yond all normal calculations and far
| beyond their present capacities. They
are urged continually to furnish more
coke and coal by-products, toluol, and
other elements have been established
the demands on the resources OF water
lighting and transportation companies
are especially severe: ability to com
ply with such demands is necessary
for the safety and comfort of the
| fighting men in training.
| "a committee representing the four
leading associations, which include all
the principal electric light and power
companies, street railway companies
and the most important gas companies
Of the country, recently submitted to
this office a report in which attention
was asked to the increase within the
last two years in the cost of materials
they must use for the maintenance OF
their properties. They gave a list OF
percentages of addition cost, showing
among others the following items: