White Bluffs spokesman. [volume] (White Bluffs, Wash.) 1907-1938, 1929-02-22
PRIEST RAPIDS LEASE
EXPIRES MARCH 1ST


black face type, regarding the devel-
opment of the Priest Rapids power
site, that have appeared in most of the
large daily papers in the state within
the past week, nave aroused quite a
little interest and speculation.
Attention was called in the stories
to the magnitude of the project and
the statement was made that the di-
rectorc of the power company would
decide within ten days whether con-
struction work was to start. Henry
]. Pierce, president of the Washing
ton Irrigation and Development
company, the concern that has the
lease, was quoted as saying that under
the water power leasing law, no fur
Their extensions could be granted
after March /, when the present lease
expires.
Nearly every one here had reconcil-
ed himself to the belief that the pro-
ject was dead, at least for the time
being, but this latest news has rather
stimulated fading hopes. 1t is not the
first of March yet and while that fatal
time is only few days away, they
feel that while there is life there is
hope"
From all of the presumably reliable
information available, hackers of the
project, or at east those who were to
furnish the money for the Develop
inent, abandoned hope year or more
ago of starting construction within the
time limits of the present lease. Failure
of the promoters to secure contracts for
the sale of a sufficient amount of the
power to be developed to warrant
construction, was given as the reason.
Directors of the Electric Bonds and
Shares company, the financing con-
Germ of the General Electric, have
been quoted as saying that while the
Priest Rapids site is one of the very
best hydro-el power sites in the
whole country it has one serious or
unfortunate drawback it can not be
developed in units. Had the unit de-
velopment been possible it is quite
likely that one or more of these would
have been built now and the other
units added as the demand increased.
AS it stands the whole project has to
be developed at one time with a mini
mum production of 100000 and
maximum of 100000 horse power, the
larger amount, they say, being in ex-
cess of the entire consumption in the
state at this time. What to do with
the power was the big question when
the development of the project was
question today.
! 1t is too much of a natural power
site, however, to be allowed to lie idle
indefinitely and that it will be devel-
oped eventually there seems little
| doubt. When. will that be? Well, ths
fellow who can figure out just how
soon the demand for more power cat
ches up with tile present output, can
probably make an exceptionally close
guess. Figures indicate that the de-
nland is showing steady, if not re-
markable, increase and if it continues,
the time will come when it will exceed
the capacity of the present plants and
the smaller ones that will be develop
ed in the meantime When we reach
that point, we can look for something
definite regarding the development OF
the larger sites like Priest Rapids.
The secretary of the water power
leasing hoard has announced that the
last extension under the Law has been
granted on the Priest Rapids site and
that unless construction work is act
ually Under way by March l, the lease
will be automatically cancelled, after
which The complete title will again
rest in the government.
Those who have believed sincerely
that the site would be developed I'M
der the present lease have urged as an
argument that the. leasing company
had expended large sum Of money,
variously estimated at between
S1,cOC,Oo0 and $5,0o0,oC0 for promo
ton, the purchase of shore lands and
other land that will be covered with
water when the dam is built, the sink
ing of test holes to determine the
depth of bed rock and for other pur-
poses. And they would not take the
chance Of losing this large amount or
money through forfeiture OF the
leass.
But will they lose it? Even if they
forfeit the lease, they will still have
title to the SnOIe anu otiiSi ioioo o =.
other tangible property, as well as all
Of Their engineering data and infor-
nation. This would very likely be
worth all that it cost ir the event that
the present lessee or some afflllateq
company built the dam at some future
data under a new lease. If some one
else develops the site, the shore lands
and other real property would have to
he acau red, either by direct purchase
or bv condemnation. The engineering
data. already assembled, would also
be necessary and the present lessee
would in all probability realize on
these all that it has cost them.
So, in the final analysis, what they
would really lose would be the tran
chise itself, which, under the circun-
stances, is of doubtful value, and the
interest on the money invested in the
tangible property and engineering
data.
We are all hopeful that the COM
pany will find reason for starting
construction before the expiration OF
lease. But it must be admitted that it
/ is largely a hope. AS betting pro-
position it does rot look so GOOD.