The Caledonian-record. [volume] (St. Johnsbury, Vt.) 1920-current, 1922-12-23
Newport Man In
Warning to Vt. Villages

Bond and Share Cmpany offerlng
to the public 100000 per cent
cumulative preferred stock and
which by the way the circular
states is "free from present nor
NAL Federal Income tax" | have
underlined the word present. 1t is
further stated that the business of
this company is to buy, hold and
sell securities issued on the prop
critics of electric power and light
and gas enterprises, that it acts as
fiscal agent and supervises the
operation of companies controlling
and operating such properties,
further, that all the outstanding
common stock is owned by the
General Electric Company,
amounting to $16,250,000. The
amount authorized to be issued is
$20,000,000. Permit me to direct
your attention to the fact that in
the first instance the General
Electric Company sells in Yer
mont its electrical products after
which it supelvises the operation
OF its products ana we pay the bill.
What is going to be the ultimate
result of the development of our
water powers? We are all familiar
with our abandoned farms and in
one instance | have seen an aban-
doned village. A large share OIL the
blame for past abandonment of
farms | have laid to our present
Capitalization of schools; the vii
lage in question was told was
abandoned for the same reason.
But today | believe we are con-
fronted with more abandoned vii
lagos and the blame will not be all
LAID to our school system but will
be charged to the present develop
ment of water power. This proph-
esy needs explanation. 1t is this.
Today the plan seems to be to take
and develop a water power in a
small village for the benefit of
larger community. The new COM
pany will agree With the present
owner Of the water power who is
today using it, say for grist mill,
that they furnish him enough pow
er to run his mill for five years
without charge. At the end Of five
years what is going to happen?
In all probability the charge for
the use of electric current will be
50 high as to be prohibtive and
your grist mill or other local in
duStry will go out of existence, |
firmly believe in this possibility
as an actually unless remedial
legislation is enacted Our next
Governor has stated that the pow
er of our Public Service Commits
sion should be enlarged. If it is the
Commission may see to it that
such a possibility does not become
a fact. Doubtless you will say all
this may sound well and that / am
right but how does it concern the
Village of St. Johnsbury. 1t con-
Germs st. JOhnSbury as it does
many other municipalities located
on a linI of railroad who serve the
villages not 80 advantageouSly To-
Gated, and as | write this have in
mind the fact that Vermont is
primarily an agricultural state.
There is no other state in the
Union which can raise per acre
what we can both as regards
quantity but quality. We are not
an industrial state, our timber has
been early all cut altho consider
able quantities of pulp wood and
hardwood remain.
My thought about preserving To-
cal industries in our small villages
may seem inconsistent with my
statement that Vermont is an
agricultural state, however, the
fact remains that the small COM
munities mean cultivated farms,
at least it has in the past and
ought to hold true today and for
that reason it seems to me that 1t
ought to be the policy of the
state to encourage rural life rath-
er than discourage it and without
any fixed policy it would seem
that with the automobile, the tele-
phone and electricity, the farm
and small village ought to prosper.
| have already written much
more than intended altho | had in
mind an explanation of what the
fixing of a freight rate,
telephone rate or an electric light
rate means. 1t would date back to
1892 when Justice Brewer of the
United States Supreme Court
wrote the opinion in Chicago and