Fitzgerald leader enterprise and press., 1926-06-10

connected companies. This gives opportunity
for fullest uthlzaton OF snrpihs poWel. poss
primary and secondary and uom tnn s1@nu
point the Power Ccmpsny's bid carries c"a
more fully The spirit Of consresSfonS1 Fe~o
luti0n.
tdl The int tallaton OF Dams Nos.
z and ;, and in the case OF the POWER Corn
panya bid the plant re'Hrn 10 ths
limited States under The two bids will be ~
follows:
MONETARY RETURN TO THE. uNiTnD
fNote: The Power companies offer in THE
respect was amsnaed a.ter shis report wee
compiled. The revised nsures toIl0~;)
Rental Payments on Properties as They
Stand Without Obligation Of United
States to Expend Further Sums
Air Ntrstss Corporation
Dam. No '9'evS 20 sSS sSS
HeaSwster improvements ....... None
, o'1VS,VtF
AApuAl Average i''iU'e"V
Associated Power Comp anies
nAn No. 90 a,,""~ "u wv.
Annual Average ..,-.--.-..........,.,-.. I6e oVe
Headwater Improvements ,.--..--....,. 5000 zoe
Total. = ~ 5UV,Vve
AnmSaal Average -...................... 271SU0H
II United States Builds Dam No. s. the
Net Return viii BE
Air Nitrate Corporation
For Dana Nos. and 3--.....--.....-.-.$ So tss oN
Annual Ayeraxa .......... 1.Si47Se
AeeoeIatsa Power Companies
Fur Dams Mo- : and ds......-...-..-,$l ls1 s4e 6fM
Annual Average ..-.....-.....--...-....-. S62SSSs
Thess estimates indicate that financially. O.,
laokSd At from the standpoint Of the United
tat AbA tn Power (QFnn4Ay'0
b4A ie Tar GaAPeGior.
(e) ADDITIONAL cAPrTAL lNvDsTM RNT
REQUIRED OF THE UNITED STATES BY
BaDDpRs-Air nitxatss bid rsauires aAAttionAl
capital Investment by the GovernmaAt 0f $751;
see ep1. while the Power Company requires no
additional appropriation BY the Government.
The air Aitrates bid sets up ~ a pSersaaasass,
the grating To- subsidiary Of the bidder BY ;
Tie Federal Power CommieRion Of preliminary
permits for the Cove Greek, CenatOr, Melton
Hisl and Clinton Dams, all on Clnch River, ahd
issHance BY the ccmEniF sion OF iicenass there
for Il desired BY tie company. The Power
ConpaAies' bid Requires no peynsits sr licenses.
The PswsT Companies bid, IN that II AosA nst
ANBtheF UoRplic&ts the Atuation kV re&wirlnN
farther R6aitianRl appropriations ana further
license eeMMitnsAss 10 the Asors savaHtRGsssn
e&ar.
% auARANTEEe OF PERFORMANCE
The AmsficsD Cyans Aids Company definiteIy
aaeyahtoes th@ perter nance sf the 0hliGatieAA
u the Air Nitrate Corporation The Associated
Fewer Companies Do net appear to provide q
definite suASantsa o. The part Of TIE distFibut-
~ COMPANY Ter the performance Af the SrF
tAtRSE loom Daaky, heyoaG stAe GprovisioA Of e9A-
tai and the ewAeFship Of the common stock
IN this particular the Cyanamids Company -
batter
(Net0: ouheeauant b thIs letter the Power
Conpanles' offer was amended to provide for q
forfeiture Of both power and fertilizer eSn.
tracts II the fertilizer company defaulted in ~
eentract.)
(g) CONDITIONS AT END OF LEASE Pc
RIOD--Both bidders provide for recapture by
the United States Of additional generating units
and/or other power facilities built by lessee at
own expense, and both bidders abandon to the
United States all buildings and equipment built
on leased property by and at the expense OF
lessee for manufacture of fertilizers
Air Nitrates Corporation reserves right to re-
move within reasonable time all buildings and
equipment built by 1t for other purposes. Both
bids satisfactory in this respect
inasmuch as both bids satisfactory from
the standpoint Of national defense, and the
Associates Power Companies bid is much
better from the standpoints of fertilizer per-
Torrance, financial return to the United States,
and freedom from complications incident TO
additional appropriations, In the opinion Of
your committee, the Power companIes' bid 10
Far more advantageous.
Respectfully submitted
EDGAR JADWTN
Assistant Chief of Engineers (War).
PAUL S. CLAPP tCommerce).
S. c. LIND (Agrcnlinre).
G.. A. BISSEl-L tInter;orl
H.;I, H..