The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1918-04-19
MAINTENANCE OF EFFICIENCY
ana Credit of Public Utility Com
panies Essential.

National and State Banks AMI
many thousands of small and large
investors, have suffered seriously
from the decline of the earning ca
pac1ty of public utility corporations
and the consequent shrinkage in tha
value of their securities, represent
ing investments of many hundred
millions of dollars. These losses
naturally diminish the power and
disposition of the public to responJ
to the calls of the Government for
money for war. This danger should
arouse, venture to suggest, the
anxiety and stimulate the efforts of
the congress and of every patriotic
citizen. A more urgent and pressing
peril is forced upon our attention by
the obvious fact that we are depend-
ent so largely on the efficiency and
strength of these corporations and
on our railroads for speed and sue
cess in preparing for and prosecut-
ing the war.
The corporations referred to sup
ply light, heat, power, and electric
railway transportation for passen-
gers and freight. They touch init
mately the daily life of the peop!e.
In normal time they have been f..
vorite targets for sneers and savage
criticisms from large parts of the
public and the press. In some in
stances doubtless, they have de-
served and invited hostility. In
others, the attacks upon them prob
ably have been unjust and unrea
sonable. Frequently they have been
the victims or beneficiaries of local
politics, suffering injury in the end
In either case. Yet, generally, they
were able to serve the needs of their
communities with reasonable effic;-
ency and to earn fair returns on the
money invested in them. Now theyl
are threatened with ruin. IF thew
are allowed to sink into inefficiency.
much of the most important wart
work of the Government will be |
or paralyzed.
The work of war has thrown upon
many of these corporations strains
which they are unable to endure
without prompt help. The cost of |
their labor and of all material fori
operation, betterment, and upkecp
have increased heavily and suddenly.
They are required to increase rad:-
cally and quickly their service and
facilities. Industries manufacturinsI
war munitions and materials demand
Of the public utilities corporations
greater supplies of powerl
Ind light. At the industrial cen-l
,ers, car lines are being rushed and
'Verburdened by new armies of work.
RS. The gas companies are called
lpon for gas for cooking and heating
n quantities beyond all normal cal
'ulations and far beyond their pres
mt capacities. They are urged con-
to furnish more coke and
oal by-products, toluol, and other
dement's absolutely essential in
modern warfare. Where canton-l
nents have been established, the de-
hands on the resources of water,
lighting and transportation compa-
lies are especially severe; ability ro
omply with such demands is neces-
airy for the safety and comfort oil
he fighting men in training. |
A committee representing the four
eading associations, which includeI
III the principal electric light and
'ower companies, street railway
and the most important
as companies of the country. re-
emily submitted to this office a re-
'ort in which attention was asked
o the increase within the last twol
ears in the cost of materials they
must use for the maintenance of
heir properties.
They gave a list of percentages of
dditional cost, showing among 9th
rs the following items: