The Washington times., 1922-08-27
FINANCE
RUsiNEss M
BY b. @. FORBES.


BY b. @. FORBES.
NOW INVESTIGATING CoNDI.
TONS IN THE WEST.
Think Of 1t. This whole part Of
the country was a desert until a
short time ago." remarked Editor
Fred Eldridge, Of Los Angeles. as
he swept his hand across the place
where this city stands.
The country hereabouts Is nat
ural desert, but 1t has been made
into gardens and orchards and vine
yards.
Water has done it-irrigation."
An Fastener now living out here
in the, West told me with great
gusto: IAN you have to do here
around your home is to turn on a
hose and grow anything you WISH"
Those of us who live in the East
and have not enjoyed opportunity TO
travel cannot grasp the part irriBa.
ton plays in the West. Harnessed
water is the very life blood of Cali
fornia and other States in the West.
Without means to obtain and carry
water to be spread over fruit and
farm lands. only deserts would
bloom.
How much further can California
go in obtaining and Harvesting
water to supply industry and agri-
culture with the electric power
needed to keep them going?
Is the State nearing Its maximum
possible development industrially
and agriculturally?
Can It support twice or several
times its present population of APP
proximately 5000. 900?
How much more hydro-electric
power can be developed and fur'
nished?
Before I came West I had heard
little or nothing about the man VINO
was most often mentioned TO me la
San Francisco-apart, that Is, from
banking leaders. This man Is Wig
ginton E. Creed. president OF the
Pacific Gas & Electric COMPANY.
Everybody in San Francisco has
him marked as one OF America
most promising "comers.' l talktd
much with Mr.. Greed about the
future of electric power. about the
raising of necessary capital, and even
more about the attitude OF capital
toward labor and toward the public.
Mr.. Greed has exceptionally ed'
vanced views on what employees,
consumers and security holders are
entitled to expect and demand from
~,,n ,,tflifv Cnnn nnanial
Here are statements made by
this public utility giant who Is
likely to become a national figure:
Prior to 1900 California was COM
paratively unimportant as manu-
featuring State. but 1t now produces
more manufactures than all the
other Western States combined. This
rema rkable Improvement In INDUS
trial position Is directly traceable
to the California oil industry, which
began about twenty years ago 10
furnish cheap oil, from which cheap
power could be developed. In the
past fully 60 per cent Of the power
used in California has come from Oil.
But today the oil industry Is carry:
ing a burden beyond its capacity and
must be relieved.
THE extent to which California
can develop industrially with Jde-
quate water power Is almost witaout
limit. Its geographical position on
the Pacific gives 1t opportunity for
trade with Pacific countries, Its poou.
lation affords the necessary local
markets, and II possesses nearly all
the basic raw materials.
They may be roughly classified
as lumber and forest products, agri.
cultural products. fisheries ana
mines and minerals, including Pc
troleum. These materials for manu-
featuring, of which perhaps the
most important is the product of
agriculture, place the State in a
position, having cheap power, to
develop and extend most advan-
tageously the packing, canning,
preserving, milling, lumber, chem.
ical, fabric, leather and metal and
long list OF secondary Industries.
Careful studies indicate that
there Is possibility Of development
Of $3.50, 900 horsepower in hydro
electric power in California, Of which
only 100000 horsepower, little
over 10 per cent, is thus far devel-
oped.
THE total maximum horsepower
in water in the whole United States
is $500 900, and in the eleven
! Western States It Is 42,850,000.
THE combined construction pro-
grams Of all the California power
companies contemplate the develop
ment of about 2,000, 900 horsepower
in the next ten years. This devel-
opment, IL carried out, will require
an expenditure of $500,000,00 to
$500, 100000 during the period Of
construction"
VIII this amount Of power be
necessary?
"If the growth continues In the
future at the same rate II has in
the past the State will require
about 100000 horsepower addi-
tional each year. At the present
time the users OF hydro electric
power are distributed about as fol-
lows:
Lighting, all classes. 13S per
cent.
Commercial and industrM pow.
er, 45.7 per cent.
Agricultural power. 1919 per
cent.
Railway power. 27.s per cent.
''Total 100 ner cent