Imperial Valley press., 1921-08-04

water power development and long
distance transmission of electric pow
er, during which time worlds records
were constantly broken, in building
one of the1largest power development
and transmission systems in the world.
has so trained out executive and en-
gineering forces that they do not look
with apprehension upon the difficult
ties which must be overcome in max
ing this enormous development, prob
ably the greatest in the world.
"The growth of water power de-
velopment in popular favOr,~ and the
continuous success in financing our
properties over a period of 20 years,
has attracted to our projects some of
the largest and most successful invest
ment bankers in the country, who may
be relied upon to provide the funds for
the purchase of bonds, and to distri-
butte these bonds to the individual in
vestors throughout the entire country,
thus insuring more than two-thirds
of the cost of the project. The remain
ing part of the cost is to be secured
through the sale of dividend paying
stock in the enterprise, to the people
gnerally through the entire Southwest.
along lines exactly similar to those
being followed successfully by our
company. The actual ownership of
the project will be by the people at
large through the sale to them of cap
ital stock; thus vesting the ownership
in the people served.
with the granting of the final
states permits and Federal Power
commission authority, we will be in a
position Immediately to begin con-
struction work on the project. The
whole project would be developed un-
der a 50-year license from the Federal
Power commission. by the terms of
which the government would retain
the right to take over the property as
q going concern at the end of the per-
iod by paying only the actual invest
ment.
"The potential power possibilities
of the Colorado river are very great.
and all of this power may be devel-
oped under our proposed cooperative
| plan of associating with us in the man.
agement and retail distribution. pow
er companies through the entire area
to be served, comprising all or parts
of seven states.
1.-The millions of horse power of
cheap water power to be developed
would be distributed to consumers un-
der public regulation of states and OF
the government itself, without discrim
ination as between individual consum-
ers or communities. No one is in =
position at this time to say how low
these rates will be, but regulation per-
mits of only reasonable interest re-
turn upon the investment. retaining
! for the sole benefit of the ratepayers
the lower cost of construction and
more efficient operation under private
I initiative.
"Our project provides for complete
control of the river from the stand
point of flood protection and irriga-
ton, and locates the dam high up on
the stream, making possible the re-
peated use of the water for power pur-
poses through chain of power houses.
which may eventually be seven in
number, developing over 100000
horsepower.
'The present demands for power in
Southern and Central California are
little more than 00,000 horsepower,
in addition to which there are pressing
demands for new developments IN the
bordering states. The sum Of these de-
mands is, however, not sufficient TO
Immediately absorb two large develop
ments. and duplicate investment Of
many millions of dollars in parallel
lines. Therefore, in order to secure
(Cnnfipuad an nara tua