The midland journal. (Rising Sun, Md.) 1885-1947, 1926-01-15
coNow1NGo POWER PROJECT
Philadelphia Electric Agrees Not
To Dispose OF susquehanna
Stock

Stock
Pennsylvania concerns involved in
the proposed hydro-electric power
development project at Conowingo,
Md, have filed with the Public
Service Commission at Harrisburg
supplemental petitions covering mod
ifications in the plans along lines
| laid by the commission in q report
on December 1.
| The Philadelphia Electric Com
pany and the SusQuehanna Water
Company field the petitions. In
volved with them in the development
are two Maryland concerns. The Sus-
quehanna Power Company is the
parent company and will absorb
most of the energy generated. The
SusQuehanna Water Power Com
pany will own the dam and the
Maryland transmission lines and the
Susquehanna Electric Company will
operate the plant at Conowingo.
The original applications were op-
posed before the Public Service Com
mission by the Philadelphia Rapid
Transit Company, and after hearings
the commission issued its report of
December /, which. expressed the
opinion that the actual investment
in the project should not exceed
$52,220,000 and that the benefit to
the public and to the Philadelphia
Electric Company would depend
upon amendmentato be made in
line i with h, priq9iples which it laid
down. ThesSSealt With the plans
lor the pro9E "a corporate and finan-
the stock h" and 'nsi ~ '0A
.,sp The t,i, PM i,3Aaaelpnia c9cern agrees a
also tnae y viii not oppose OF the
Susquehanna W. - Poer common
stock or the STOCK i susque-
hanna Electric Compan9q
Seven generating units ok A3.OoO
kilowatt capacity each are to 69>
stalled. Another provision is that
annual rental to be paid to the Sus-
quehanna Water Power Company by
the Philadelphia Electric Company
will be the same.
In line with these recommends
tions the petitions provide in general
that the Susquehanna Water Power
Company will have at least $4,000
600 of preferred stock and 100000
shares OF common without par value
and this company agrees that, with
out first obtaining the consent OF the
Federal Power Commission and the
Pennsylvania Commission, It will not.
issue any preferred stock with e.
dividend rate exceeding per cent
and will not dispose OF the owner
ship OF the stock of the Susquehanna
Power Company, except that It may
pledge the stock under its corporate
mortgages. The Philadelphia Elec-
trio Company agrees to subscribe for
the $16,000,000 in preferred stock
OF the water power company and is
to receive that company's common
stock: 1t also agrees to provide
funds to complete the project, in
additional stock OF the water power
company at $25 a share, S71s per
cent to be preferred and the bal
ance common.
The Pennsylvania Public Service
Commission approved the modified
power project on Tuesday OF this
week, the Maryland Public Service
Commission taking the same action
on Wednesday.
Steps to begin actual construction
will be taken at once. The con-
struction of the dam and power
plant will necessitate the destruction
OF the present Conowingo bridge. the
removal of the town OF Conowingo
to higher ground, the relocation OF
the Pennsylvania Railroad tracks
running north from Port Deposit
and the reconstruction OF both state
and county roads on the bluffs over
looking the river.
The generating plant of the dam
will be located on the Hartford coun-
ty side of the river. A transform
Ing station also will be located in
Hartford county.
The primary capacity OF the plant,
will be 100000 horsepower, prac-
tically double the present capacity
OF Muscle Shoals and considerably
larger than anything yet constructed
in this country in the way OF hydro
electric works. Six generating units
of $4,000 horsepower each, first win
be installed. The capacity ulti-
mately can be developed to 100000
horsepower. Current from the plant
will be sold largely in Philadelphia.