The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-05-28
NORRIS PROPOSAL
TO Be SUBMITTED
tCOntinued from Page Onsl


committee has considered six separate
proposals.
The Norris bill provides for creation
of the Federal Chemical corporation.
which would have control of all of the
Muscle Shoals properties, including the
power plants.
The Secretary of War would be au-
thorized to complete construction of
Dams No. 2 and No. 3 in the Tennessee
river and if deemed advisable construct
storage reservoirs for the development
of hydro-electric power and for the aid
of navigation.
The corporation would be directed TO
manufacture fertilizer and sell it d.
rect to the farmers at a price fixed by
the corporation. 1t would be author
lied to establish selling agencies any
where in the United States Sin order
to prevent monopoly of the fertilizer
business or the undue and unreasonable
advance in price of fertilizer"
The corporation would be controlled
by a board of directors consisting of
three persons appointed by the presi-
dent. The directors. salary is fixed at
81 800. The bill stipulates that the
corporation shall operate free of poll
tics and penalty of 81 900 fine or six
months Imprisonment or both is fixed
for the punishment of any director who
allows politics to influence him in
transacting the corporations business.
To. Fix Price
Power not needed for the manufac-
ture of fertilizer or explosives would
be sold by the corporation with pref
erence given to states, counties and
municipalities and if the power should
be sold to a power company the cor
poration would have authority to fix
the price to be charged to the con-
sumner.
The bill provides for the manufac-
ture of explosives for use by the army
and navy ard in case of war the pres
ident would have power to take over
all of the property to be used solely
for the manufacture of explosives.
The Ford Plan
Henry FCrd's bid provides for leas-
ing of Dams No. 2 and No. 8 for 100
years and the purchase for $5,000,000
of nitrate plants No. 1 and 2, Waco
quarry, and n steam plant to be To-
Gated on the Black Warrior river, to-
gether with a right of way and trans
mission lines from the steam plant to
nitrate plant No. 2.
Ford would agree to form a corpor-
alton capitalized at $10,000,000. The
corporation would complete dams No.
and No. 8 and with the governments
funds at cost without profit to the
company and would lease the dams
at an annual rental equal to per
cent per annum of the actual cost of
the structures, exclusive of expenditures
incurred prior to May 81, 1922. The
corporation would pay $4,000 annu-
ally for maintenance of the dam No.
and $4,000 for daRa~ No. 3.
To enable the government to pro-
vide a sinking fund to retire the cost
of the dams, Ford would agree to pay
semi-annually $3,505 for dam No. 8,
and 19,S68 for dam No. 2.
Payment of the $5,O00,O00 for the
purchase of the other property would
be made in installments with 81 100000
paid upon acceptance of the offer and
81 100000 annually with per cent
interest until the. principal is paid.
Ford would agree to manufacture
fertilizer with a nitrogen content of
at least 10000 tons of fixed nitrogen
annually, which is the present ca
pacity of nitrate plant No. 2. He
would agree to conduct experiments for
the improvement of fertilizer processes
and guarantee to maintain nitrate plant
No. 2 in readiness for the production
of explosives in time of war.
To Sell Fertilizer
The corporation would sell fertilizer
at a profit of per cent and the fer
tilizer price and distribution would be
controlled by a board consisting of nine
members, three representing the Amer
lean Farm Bureau Federation, the Ma
tional Grange and the Farmers Educa-
tional and Cooperative Union of Ameri-
ca. The government would have the
right to take over the plant in time
of war by giving five days notice and
the corporation would furnish the nee
essary power.
The government would erect a steam
plant on the Black Warrior river at
a price not to exceed $3,472, 4S7, which
represents the price paid for the Cor
gas steam plant by the Alabama Power
company.
The bill provides that after Ford's
death, the property will be controlled
by his heirs or American citizens, for
eigners being denied ownership of stock.