The Washington times., 1924-04-07
UTILITY STOCKS
!. SHOW RAPID
GROWTH
Increasing Usefulness in
America Pointed Out BY
Hobart n. Porter.
By w. s. COUSINS.
Copyright. 1924. by Cosmopolitan News
Service.)

Copyright, 1924. by Cosmopolitan News
Service.)
NEW YORK, April THE re
markable growth and increasing use
fulness Of public utilities in America
has produced great changes in bust
ness methods and living conditions.
H. Hobart Porter, president Of the
American Water Works and Electric
Company, said today. He named
some of the factors which he be
lieves have greatly contributed in
recent years to the stability of in
dustry and it's value to the public.
The rapid development Of Ameri-
can utility enterprises in the last
thirty years." said Mr.. Porter, lis
due to a variety of causes. Among
these l would emphasize as the most
important the exercise of enlight-
ened regulatory policies by Govern
mental boards and commissions, the
wide distribution of securities OF
public utility companies among en-
ployes and customers, and the eco
nomical generation and wide distri-
button of electrical power to meet
necessities of growing American
communities. -.
within the last two decades, as
the result Of the establishment of
Governmental boards and commits
sions, where problems Of both the
utilities and consumers are fairly
presented, there has been marked
improvement in the attitude Of the
public and public utilities toward
each other.
1.-THE former feeling of hostility
upon one hand, and indifference on
the other, has largely changed to
one of better understanding and
helpful cooperation.
Former Governmental opposition
to combination and amalgamation Of
industrial enterprises has changed
to one of active approval Of the
grouping Of public utility properties
| in such manner as to afford the
public better and more dependable
| service"
Mr.. Porter referred to the spread
of customer and employee ownership
Of securities of public utilities an "a
most important factor i'm solving
public utility problems"
Last year." he said, the electId-
| cal industry alone sold more than
! $3.50, 900 900 worth of preferred stock
| to employees and customers, and the
| extension and enlargement of this
| practice will eventually convert vast
| groups Of wage earners into invest
ors and potential capitalists. ~
"The age OF electricity will ulti-
mately correct social tendencies
which have been the cause Of con.
Germ for generations. This will
make possible comfortable dwellings,
| for people in small communities,
with most Of the comforts, conven-
fences, and even luxuries, obtain
able in large centers Of popula
| TONS"
Heretofore, said Mr.. Porter,
| lit has been necessary for the
| workmen to go where steam and
| other sources Of power were To-
Gated in order that it might be uti-
| liked for industry, and the result
| often was the herding together of
| large numbers of workers under
most unsatisfactory living condi-
| tions.
Electric power furnished by mod
ern utility is mobile. 1t can be
generated at the most economical
point and then carried long dis
tances, where it not only enters
into industry but contributes to en-
joyment of country life.
Moreover, in the generation of
electric power at the site of the
water fall or at the mouth Of the
coal mine, larger economies can be
secured and better service given.
mot only are the interests OF
the utility and people in the last
analysis the same, but discovery
that both have the same viewpoint
is the greatest ad':ance made In
this country in the last thirty
years" :