The Bridgeport times and evening farmer., 1919-09-10

supcr-power line later is extended,
 north from Boston and south from [ Washington. these extensions will reach into the Northern and Southern
 water power districts and the per centa-e of water power generated
 will be increased.
 Forgetting now for the moment the yearly savings of $500, 100000 to be secured by the above means let Us view the matter from transportation standpoint. Already the West is reapi1g it's wonderful economic bene-
 fits from it's developed water powers, while we in the East have but to look out of the windows of our train 10 see our sidinEs, our yards and even our main lines cIogged with coal cars. Strings of empty and loaded coal cars arc actually claiming 40 per cent. of the cargo space devoted to t~anspOrta tion. The railroads are 1 burdened with it and would hail a re- 1 lease. This is exactly what the Super Power System would give, for by it's 1 installation there would be created what might be termed "commOn carrier for power" The railroads in the zone contemplated would be re- ] lieved of the necessity of hauling it's II inefficient power or it's own rails and those roads hauling coal to the proposed electrified zone would enjoy also. ITO rata. the automa ticaIly ere ated space, for now and higher priced mmOdity.
 Preferred routes from the mines to the sea would be established for coal hearing roads, and ocean tugs and I barEes would thus take the place of locomotive and cars for the supply of CDa1 o Ia central .ara~+,-=- gr,+for- located on tide water. Can it not be well said since We refine oil and ore [ that We should refine coal The power is minimum in bulk and maxi mum in efficiency of use when ft is in the form of electricity.
 Power is essential to railroads and industries. Without 1t all wheels must cease +o turn. We have 75 years of anthracite coal left to us even if wo do not increase the rate at which it is being mined today. We ! have leaDed from 1O0.OO0.O0O tons of ] hituminous coal mined per annum in I the last 20 years to nearly 600 .oOO,OOO l tons, and our Ohio, Illinois. PennsyI- vania and Virginia fields are being rapidly exhausted. Cost due 10 fu- 1 turc location and increased transpor- | tation is on the uD grade and there is no summit to the grade
 Our merchant marine is now bui1I- ing to carry the products of our in dust-ialism as expansion of which for this country is imminent. If we are 10 maintain the present standard of AmcriGl1 wage md living and main . tain OFT suvrerr0 0cy in the worlds trade, the heart and home Of which is right around us where we are here gathered today. it's guarantee must be economical power. and by economical power I mean cheap and reliable power
 The thought which am anxious to | leave with you is that any one who
 associates with this project the idea i that 1t has even the liEhtest shade of I local color is wrong. The real thought being that it is one of broad. National scope.
 Tn consideration even of a National matter, the parent Chamber requires | a lc'al Chamber to make a prcliu- mary move and it is for this reason | that tho resolution is being presented | here today.
 Many with whom I have discussed | the super-power plan have incurred as 1 To the method to be pursued in it's Financing. To this question I have gwen invariably the reply that while l lhls IS most important inquiry it is i secondary to the one of primary i'm
 .portance, namely. the investiration
 which Secretary Lane has proposed To congress, by which will be deter
 mined the amount and location of waste in this Northeastern Atlantic ISeabpard zone, together with the en- gineering and construction plans nee l essary 10 it's saving.
 Again, however, touching uDon tha | matter of finance, and I would say | that in such matter we will be call ! ed upon to spend millions of dollars ] but l have simply to point to a truth i the knowledge of which is yours. thai | today We are not only upon the eve ] but in the realm of larger things | Yesterday we were willing to spend
 Q million dollars in construction to ! save one hundred thousand a year. | Today we are ready to spend a mil | lion to save a hundred million a | year.
 This may be a government. a bank | ing or private interest affair, as you
 may wish to make it, or 1t may be a com bination of all, but 1t is certain
 that in any form of financing it may 1 take, it's ownership must reach the | people. Naturally the magnitude of 1 this financing will require the enroll ment of the services of the Ieading 2 l financial agencies of the country. One idea which has occurred to me look ing toward the financing of this pro- ject and placing its securities in the hands of the holding public all over
 the country would be, first, the pur-
 chase of all freight, passenger and | switching locomotives through the l means of equipment trust bonds. l Second, power houses could be con- l structed from money derived from the sale of bonds, the guarantee of fn- 1 terest upon which would be the con
 tracts for power required to operate ! the railroads. Thus the railroads
 would be entirely relieved of fnanc-
 ing their own power and equipment
 and there would remain only the necessity of their financing their own
 overhead or third rail contact sys-
 tems. It might be added also that
 this broad field of power generation
 and utilization will offer wonderfur
 opportunities of standardization and
 through the means of standard shops established throughout the electrified
 zone these would serve to maintain
 the equipment involved.
 leave with YOU this thought which