Vashon Island news-record. [volume] (Vashon, Wash.) 1919-1954, 1929-09-26
is TIRED OF BEARING BRUNT OF
CONTINUED POLITICAL ASSAULT
SAYS PRESIDENT OF PUGET
SOUND POWER AND LIGHT
COMPANY, BUT FILES ARGU-
MENT IN THE INTEREST OF THE
TAXPAYERS.

TAXPAYERS.
Pointing out that, since Initiative
Measure No l, the District Power Bill,
is a greater menace to the taxpayers OF
WASHINGTON than it is to the electric
light and power industry, no organized
campaign to combat it has been form
ulated by privately y-owned public public
utility companies, the following state
ment has been issued by A. w Leonard,
president of the Puget Sound Power &
Light Company, in connection with the
filing of arguments for and against the
bill with the Secretary of State;
"The power industry in this state
is tired of bearing the brunt of
continued political assault. II is
tired of serving rs bumper to
protect all other industries and
businesses and the taxpayers gen.
orally from the attacks of those
who are advocating public owner
ship of everything. regardless OF
costs and consequences.
Our company joined with others of
this state in signing an argument
against Initiative No. l. the so-called
power bill' because the law required
any argument that might be made to
be in the hands Of the Secretary Of
State not later than September IA.
We felt that this means of bringing
okt tA,Nttr lon of
voters should not be overlooked, but
we have no plans for any such organ
lied resistance was made TO previous
measures which, like this initiative,
were designed to put our industry out
of business We do not intend TO let
the politicians pose the industry as an
object of public hostility.
THE avowed purpose of Initiative
No. l is to take over all existing light
and power properties in this state
through the creation. of an unlimited
number of public utility districts The
only chance of its adoption lies in the
possibility that the voters may neglect
to read and study its provisions 1t
repudiates the theory that any public
ly-owned utility can be self-supporting
by expressly providing for tax levy
every year to cover losses in operation,
as well as an unlimited annual tax
levy on all property for bond interest
and RECEPTION,
These tax features alone should de-
feat the bill. that is something for the
taxpayers to think about. So far as
the industry is concerned 1t doesn't
stand to lose much except the privilege
of paying heavy taxes on vast
amount of property, maintaining great
payrolls, spending huge sums for labor
and materials, and otherwise contrib
uting to the prosperity OF the state
If the properties of our own company
should be taken, for example, we Will
receive full compensation for them,
whether purchased or condemned, AS
to this we can suffer no loss. Several
hundred millions of dollars have been
invested in this state by the light and
power companies. Their expenditures
for extensions and betterments alone
average around s20,0O0,o00 year.
This is equivalent to the establishment
of twenty new industries every year
with an Investment OF $1,oOooOo each
the kind of business that every com
munity is reaching out for. All this
investment goes upon the tax rolls and
helps carry the tax burden.
IF the people want TO wipe all this
out they must reckon on paying the
bill. which win run something like this
First. the cost Of acquiring the vast
amount of private property; second,
the cost in taxes sacrificed through
taking all this property off the rolls;
third. the cost of new taxes to which
they must submit in every utility dis
trict they create; fourth, the cost Of
setting up and maintaining an un-
limited number OF political organiza-
tions to do the work, free from any
restraint or regulation in state or
federal law.
From this IL will be seen that
Initiative No. calls for more thought
ON the part Of the people than on the
part OF the private companies now in
this field"