The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-11-10
LAND PRICE
GOING Up
YEARLY
Most of Needed Property Now
Owned by Pepco and w. r.
& E. Companies.
By PHILIP A. ORME.

Every year that passes without
the building of a publicly-owned
hydro-electric plant at Great Falls,
in accordance with the Tyler plan,
means a double charge on the
people of the District and
heavier tax on the citizens of the
nation when the necessary land
comes to be acquired.
This is an outstanding argu-
ment for immediate Congressional
authorization of the project, in
addition to the many which die
tates of economy and breaking up
Of private monopolies furnish to-
thoughtful legislators and resi-
dents of the Capital.
Owned by Power Companies.
Practically every foot of land
needed for the Great Falls dam,
which would inlpound water neces-
Ssary for the giant turbines. is
owned by those heavenly twins of
the Washington utilities family
the Potomac Electric Company and
the Washington Railway and Elec-
trio Company. It was bought by
the latter corporation in 1902 when
the section around Great Falls was
virtually a wilderness. 1t has
waxed in value to such a point
that condemnation proceedings and
L. - al
net the Potomac Electric Power
Company and the Washington Rail
way and Electric Company most
beautiful profit.
Fart of the unearned increment
IN land values would come from the
pockets of Washingtonians. That's
charge No. l. Again. the hydro
electric power plant would furnish
current here at an estimated base
cost Of 6.75 mills. By figures of
1920. compiled by Major w. c.
Tyler. former engineer officer for
the Washington district, cost of
production of steam power, as prac-
ticed by the Potomac Electric
Power Company and other pro-
ducers here, was from 1 to 1-3 cents
per kilowatt hour. Half the light
and power bills would be cut off.
Charge for Dividend.
In point Of fact, there is an ap-
parent third charge levied on pa
irons of the Potomac Electric Power
Company, and that brings us to the
most interesting part of the story
regarding the acquisition of the
Great Falls land by the Washington
Railway and Electric Company and
its subsequent transfer in greater
part to the other twin.
There is a charge for an annual
dividend upon 100000 worth of
Potomac Electric Power Company
stock, which has run as high as
10 per cent.
Here's how 1t comes about.
The acreages bought in by the
railway company in 1902 included
land on both sides of the falls and
Falls Island, on either flank of
which the waters of the Potomac
go foaming down to tidewater. 1t
has lain since 1902 in a state of alb
solute industrial uselessness. The
power company took two-thirds of
1t over in 1912, giving $1,000, 900
worth of stock (par. 5000. The
interest is in the site. And as long
as the site remains undeveloped,
1t simply means money tied up.
SOAA4SOiS hdo 6OI pay the III
terest on that money, and it looks
as IL Mr.. Washington householder
Is the man.
No Activity In Site.
There is no tangible disposition
on the part of either the Potomac
electric Power Company or the
washington Railway and Electric
Company to build a hydro-electrlc
plant at Great Falls or any.
where else. And how could they?
The Tyler plan estimates $44, 421,
600 as the outlay for a maximum
development, including dams at The
falls and at Chain Bridge and three
storage reservoirs at Great Cacapor
river, the North Fork of the Shen
andoah and the south branch OF
the Potomac. To ask how in thu
world either the Potomac Electric
Power Company or the Washington
Railway and Electric COMPANY
could float a bond issue for tina
amount. or half Of it, Is simpl,
redundant.
1t is up to the Government, III
agent of the people Of the Distric
and Of all the forty-eight States
whose citizens by thousands hav
their residence here, to get the au
thoriZation from Congress to e
ahead with a development whic!
will advance the cause of publ
ownership as few other project
would.