Pueblo chieftain., 1922-02-03

tSOnklhuSo Aioul CSC ShSsS
arrant leasing to AIr. Ford govern
ent property for so long a period.
Il believe it would be a better pol
W he wrote. ito limit the contract
) term of fifty years Cnstead OF
o. to conform with the established
,iicy of the federal government as
It out in the waterpower act"
The secretary also suggested a
Notification by the congress of the
roposal so that in the event the
perating company to be created fail
to carry out the contract, some
enalty would be imposed. Referring
clause in the contract submit
ID. the secretary adds that it might
commended that the language used
Is susceptible of Il construction to
ne effect that Mr.. Ford is personally
ound only to see that his company
nters into the contracts required to
AIRY out the terms of the proposal
nd this point should be cleared up
0 that there can be no question as
, its proper construction"
Secretary Weeks outlined tho
oluminous offer by Mr. Ford in this
ray:
Mr.. Ford offers to undertake the
ompletion of dam No. 2 and the con-
truction OF dam No. 3, according TO
hall be reimbursed the actual cost
nd to lease the dams and power
iants at an annual rental equivalent
0 four per cent of the cost to the
overnment OF completing dam n. !:
nd constructing dam No exclusive
( tho cost Of acquiring lands and
lowage rights necessary for dam No.
}
The rentals Of four per cent are to
ommeuce. respectively. In six years
.fter dam No. ? has been completed
the point where equipment for
10000 horse power is installed and
eady for service and three years after
he equipment to develop $4,000
horsepower is installed and ready for
ervice at da:n No. 3. In the mean
ime. during the six years and three
ear periods. respectively. he offers
pay. upon dam No. 2. an annual
entail OF 100000 and on dam No. J,
10000.
His offer places upon the United
itates the responsibility for repair
nd maintenance OF the two dams
'ther than the power houses, which
'ower houses and electrical equip
nent he agrees to maintain at his own
Expense in efficient operating condi-
ion. AS compensation to the United
itates for the repair and upkeep OF
lam No. and locks he offers to pay
$4,000 annually and of dam No. >
nd locks the sum of 100000 annual
y. Ho also agrees to furnish elec-
ricity for operating the locks at each
II these dams without charge to tho
government. and in addition he agrees
o pay the sum of s23.3T3 semi-an-
,ually for the purpose OF building up
sinking fund to return to the United
;tateA at the end OF the lease period.
sum OF money which he estimates II
saA :.
,roximately s49.O0o.o0o.
AS q condition of this offer no asks
hat the United States sell 10 him
Iitrate plants Nos. 1 and .. the Waco
;uarry, and the Gorgas- Warrior
team plant. with all appurtcnanccs
or the sum of $1,000. 900. payable
100000 down and the balance in
tnnual insiallmcnts of $1,000. 900
,ach with five per cent interest on
deferred payments.
AS a further consideration to the
government he agrees to operate nj
rate plant No. at the approximate
present annual capacity OF its mach
merry and equipment in tho produce
ion OF nitrogen and other fertilizer
compounds throughout tho lease pc
'iod. and TO maintain 1t in its pres
mt state OF readiness or it's equiva-
ent, for Immediate operation in the
manufacturing OF materials necessary
n time of war for the production of
Explosives. He further agrees that
he fertilizer produced at nitrate
plant No. . shall not bo sold at
,rofi. in excess of eight per cent of
he actual cost OF production thereof,
md to turn over to the United States
nitrate plant No. . whenever # shall
DC required for the national defense.
He likewise asks for a preference
n opportunity to purchase or to lease
ne property at the end of the lease
1eriod and for the right for n period
rot stated. TO be supplied with cleo
ric power at reasonable rates in an
mount equal to his average consump-
lon during the previous ten years. In
a aa tha miami lis nuerated and hia