Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-04-19
POWER INFLUENCES
DENIED BY HOOKER
IN SHOALS BIDDING
Underwood Demands Early
Vote by Senate on Ford
Bid-Electr ic Backing Is
Denied at Hearing

WASHINGTON, April 17.-Elor
III. Hooker, one of the bidders behind
the Hooker hite-Atterbury proposal
for operation of Muscle Shoals, re.
sumed his testimony today before
the senate agriculture committee,
which is considering all bids offered
for the property. while demand was
made, on the floor of the senate by
on the Ford bid.
Chairman Norris drew from the
witness that the Hooker bid provides
$4,000, 900 for research work at
Muscle Shoals. Hooker said he did
not contend that his company would
give the government any patents OF
any process that the government
could not get for itself, but, he add,
ed, the company could save the gov
eminent large sums of money,
through operation on a business
1 basis.
Senator Ralston, Democrat, 1ndi-
ana, asked if there was any obJec-
ton to amending the bid to prevent
stock transfer without consent OF
the government. The senator said
provisions of the offer do not pre-
vent the. company from transferring
its holdings to some power company
or organization
Hooker replied that his company
was not affiliated with any power
company or organization, and as
serted:
Il challenge the power companies
the Ford crowd or the Grey-SllVet
crowd to come before this committed
now and say that my company rep
resents any power company. L Wanl
them to come now, or forever hoio
their peace, and stop these rumors.,
Senator Ralston said, personally
he did not believe the reports, add
ing that Hooker had 1.-The ring of al
honest man."
Has Power Expert Partner
eff YOU want Muscle Shoals han
dled in a proper way you must have
a capable power man." Hooker con
tinued Il looked all over the coun
try and found J. G. White, who
agreed to come in with me. Mr.
White is one of the foremost build
ers of hydro-electric power anc
transmission lines in America.
Hooker stated that he and his as
sociates were perfectly willing tc
withdraw their proposal and lei
Ford, or any other bidder, have Mus
| Gle Shoals if they can produce Ter
tilizer for ting farmer cheaper thar
the nrOnPrt Y
for the government.
He said he did not see why Ford
himself does not appear before the
committee, and Chairman Norris IN
terjected:
"You must remember that Mr.
Ford did come to Washington anc
talk with the president, bit every
little publicity was given to It.
The chairman then asked:
How do YOU account for the FACT
that Ford came to Washington, an
CRY with the administration, ano
after his visit he indorsed Coolidge
for PRESIDENT"
Precedence for Ford
Hooker said he did not see why
Ford should have precedence, ano
Senator Helm declared he thought
the Ford bid should have precedence
because Ford offered a proposal to
take over Muscle Shoals after it haC
been placed on the scrap heap ano
! agreed to help the millions of farm
ers by giving them cheap fertilizer
and taking them out of the clutches
of the fertilizer trust.
Hooker said he, personally, was
KEoing into the venture for the pay
lot achievement" and he felt thai
his company should have the prop
erty on their own terms"
Going over details of the bill
Hooker said the secretary of war was
authorized to lease Muscle Shoals fol-
fifty years.
Senator Kendrick, Democrat, wy
oming, elected testimony that FUNDS
obtained from salvage property Wouit
be placed in the treasury of the cor
poration. with the government own
ing Is per cent and the corporation
Is per cent. This fund would bt
used as working capital, Hooker said
Originally the salvage was expected
to WELD several million dollars, bu
now the secretary of war estimates
this at only three or four hundred
thousand, he said.
Stock Ownership Restricted
Hooker said the bill restricted own
ership Of rs per cent of the stock t
American citizens,
Chairman Norris asked il Hooke
had any objection to the government
owning 81 per cent of the stock. ant
the witness replied he did object be
cause the changing administration
would bring politics into the enter
prise, and it would not be successful
under such conditions.
Hooker said he wanted the GOV
4 h,yiI
Dam No. 5, and if the dam was no
built the life of the lease would be in
creased over so years. The con
panys interest in the whole propo
sition would be materially lessene
il Dam No. 3 was not built becaus
Dam No. : has very little powe
possibilities without Dam No. 5 a
an adjunct.
Hooker said his company ais
wanted Dam No. l built for navisa
ton purposes as the navigation fes
lures of Dam No. , and Dam No.
would be lost without Dam No. l.
Salvage Features Differ
Senator Capper, Republican, Kar
sas, asked in what way the salvag
features of the Hooker bid differe
from Fords
Hooker said the Ford bid prov;t
ed for the transfer of all the sa
wage property, in fee simple. {
Ford while the Hooker bid put thes
funds into operating capital.
Hooker said his company aske
to be relieved of all taxation on tn
property, either federal, state o
municipal.
The corporation would receive
profit Of ten per cent on all con
struction work under his bid, Hook
er said.
The present steam plant at n
trate plant No. would he enlarge
10 afford sixty thousand kllowatt
sectional capacity, the~Witness eA
planned.