The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-07-20
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NCII' REBUFF 4
senat or orris Condemns
posed Prof ct in Strong
language Today.
IREP0RI MAD {. PUBLIC
ajorit Opinion Of Senate.
Committee Opposed TO
Offer Made.
REP0RI MAD PUBLIC.

fSKuaE9, WQuSSS LhS 3a4SeUl Go EA<h 5SSAAsA
sbilI,proposingS Development OF
SfhefpropertiesRu nd err azgovernment
owned and controlled Incorporation,
sdascrib as The most wonder
sSfuI @pIaIl, hat has ever been pro
s4sposedain the history of the country
s0ngtheS question Of the Ford: bid,
Observation-Disclosures Senators Page, NC
3Nary.SKeyes, Gooding, Norbeck,
siHarreld a. and ~ Mckinley. Republic
sand SKendrick, Democrat, con-
dcur with the chairman. With ref
81 ference to 1.-the government owner
sfshipSproposa1, the report gives the
mary. Gooding, Norbeck and NC
stKiniay, who favor its passage by
1.-The Senate for the solution OF the
s#MucIes Shoals problem
Because OF thi is lineup of the
the report is char.
;sacterized ass mtnority opinion In
sEofar as IT. expresses approval OF
afhesgoVernment$o ownership bill but
sispresented as a majority opinion
sssnsofar as 1T deals with the reJec-
Sfion@ by the COMMITTEES OF all pro-
pogals for Mus Gle Shoals develop
men
1.-THE Ford offer is dealt with in
Snnsparing terms. It's adoption, the
ATep orr says, would put .tthe gov
Slernment OF the United States into
Abusinessg with a, sVengeance. adding
4iiat those who ask Congress to
3accept the Ford offer ask us. in eff
fect lease this property to this
corporation with any real constd-
seration, and then in addition there
ITO; guarantee to repair and keep
land #mafntain it in good condition
toraSperfod 8ofSon hundred years.
sssssss N o9 Guarantee N ade.
IL difficult to harmonfze our
idea Of Mr. Ford's fairness, the
siTeports continues, with his silence
Ion this subject, when his name IS
.Eso often&used in exaggeration and
MISREPRESENTATION as to just what
he does of err TO do. The country
has been given to understand that
MT Ford has guaranteed to reduce
the cost Of fertilizer by one-haIr.
HeShas done nothing Of the kind.
sHeShas mad no guarantee OF any
kind NTH way Of the reduction OF
sSthe cost Of fertilizer. The country
has been given to understand that
@he pays the government four per
cent Interest," on its Investment IN
$ff1estWo@ dams He does nothing of
#fhas kind. He has not made any
ssuchao Offer and mo such proposition
include ed in his bid. Giving his
sscorporation credit for every dol
liar that it pays, he will be paying
stos the taxpayers less than per
cent on the money which he uses
cont Of the Treasury Of the United
States and when we consider that
this oan runs for one hundred
years itErequires even the stretch
Sof the imagination to understand
sthe enormous profit that this cor
operation secures in this one item
alone
Assuming that fair interest
rate IN the commercial world is s
per cent interest, this would give
his Incorporation during hundred
Syearperiod, a total gift OF cold cash
.s aEof $226,250,00O and II this money
wereRcompou as Mr.. Ford asks
8he pays, the profit to the corpora
ton at the end OF the one hundred
yeas8period would be $14.500.0oc
1000 This is more than half our
sStotalScost& OF the world war.
The country has been given to
understand that the Ford offer pro
Ssyides for thesrepayment to the gov
ssernment within the one hundred
the entire investment
that the government has made. His
ssofersdoes nothing of the kind On
Observation-Disclosures SIS pt-
the offer Of both inter
tand lion, am cunt to less
xthansthreeSpersce nt on the invest
and She never pays one dollar
s%ofEtheEprincipal. The people Of the
countrys have been led to believe
that the Ford offer means re-
sSduced price for electricity to the
Itsmeans nothing of the
kind has not agreed to furnish
assfngleskf1owattt to any home or to
Observation-Disclosures concern except
sSMnseIeaS Shoals will be devoted en-
ireIyand exclusively. to the use OF
great corporation which Mr..
Igorganize.
claimed Unreasonable.
SssssWhenSW bring together the re-
su1ts that must How from these
twosdiyisions OF the Ford offer, the
mind dazed ACKNOWLEDGEMENTS
nessofthesproposition, at the enor-
nifty of the With the expen-
ssditures of mo- money there is to be
erty OF the value of9 more than
800, 000, 600 and the right and priv
=7- 5000
Ne D D Pressing
cheaper /
but better
eiiIllzea& q
II Phone 1900. 12o1
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