The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1922-03-10

on January II, 1922, submit modifi-
cation Of his former proposal, based
upon the construction and completion
by company to be formed by him, Of
all the work referred to in the offer Of
July 8, 1921, aforesaid, the actual cost
of said work to be borne by the United
States, and agreed on behalf of said
company to pay four per cent Of the
total actual cost of completing said
plants, structures, works, and i'm
provements as annual rental for the
lease thereof,
Now therefore, in lieu Of said offer
of July 8, 1921, and in accordance with
said modification of January II, 1922,
the undersigned hereby submits to the
Secretary of War, and through him
for appropriate action by the Presi-
dent and Congress. the following offer,
which shall become a binding agree
ment upon approval Of same by Con-
gress:
/. For the purpose Of carrying out
the terms of this agreement, the I'M
dersigned will form corporation
hereinafter referred to as the Com
pany), to be controlled by the under
signed, which Company will immedi-
ately enter into and execute all the
necessary and appropriate instru-
ments of contract to ctfectuate this
agreement.
2. The Company shall complete for
the United States the construction
work on Dam No, 2, its locks, power
house and all necessary equipment, all
in accordance with the plans and spe-
cifications prepared, or to be prepared
or approved by the Chief of Engineers,
U. S. Army, and progressively install
the hydro-electric equipment in said
power house adequate for generating
approximately six hundred thousand
(600,000) H. p, all the work aforesaid
to be performed as speedily as posi-
BILE at actual cost and without profit
to the Company, it being understood
that the necessary lands and flowage
righs, including lands for railway and
terminal connections, have been or
will be acquired by the United States.
3. The Company will lease from the
United States Dam No. 2, its power
house, and all of its hydro-electric and
| operating appurtenances, except the
locks, together with all lands and
/ buildings owned or to be acquired by
! the United States connected with or
adjacent to either end of the said Dam,
. for a period of one hundred years
from the date when structures and
equipment Of capacity of one hun
dred thousand horse power are con-
structed and installed and ready for
service, and will pay to the United
States as annual rental therefor, four
| per cent of the actual cost of acquir-
ing lands and flowage rights, and of
completing the locks, dam and power
house facilities (but not including ex-
penditures and obligations incurred
prior to approval of this proposal by
Congress), payable annually at the
end of each lease year, except that
during and for the first six years of
| the lease period, the rentals shall be
in the following amounts and payable
at the following times, to-wit: Two
hundred thousand dollars (S200000)
one ~ year from the date when one
hundred thousand (100000) horse
power is installed and ready for SER
vice, and thereafter two hundred thou
sand ($200,0O0) annually at the end of
each year for five (5) years.
A. The Company will further pay TO
the United States during The period
Of the lease of Dam No. 2 thirty-fve
thousand dollars ($35, 00O) annually, in
installments quarterly in advance, for
repairs, maintenance, and operation Of
Dam No. 2, its gates and locks; it be-
ing understood that all necessary re-
pairs, maintenance and operation
thereof shall be under the direction,
care and responsibility of the United
States during the said one hundred
tl00) year lease period; and the Com
pany, at its own expense, win make all