The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-12-27
new UTILITIES
LEGISLATION
SOUGHT EARLY
Roosevelt Wants Trade
Commission Recommen-
dations by January !
By MACK JOHNSON
United Press Staff Correspondent

BY MAIN JOr1NSON
United Press Staff Correspondent
WASHINGTON, Dec. 27. (UP)
President Roosevelt personally
ordered the Federal Trade Com
mission TO nave its recommends
tions on utility legislation ready
by January 1, the commission re-
vealed last night, indicating the
administration plans to push early
action on it's utility program.
The commission made public a
letter from the president dated
April 26, in which he said he con-
sidered it "of the greatest i'm
portance that its recommends
tions be ready by Jan. l.
The commission has conducted
a six year inquiry into public
utilities. Speeding the work to
conclusion, the commission has
submitted a series of six reports
t. the senate on propaganda eff
forts of the private power indus
try in fighting municipal and pub
lie ownership of power plants.
Within a few days, it will submit
it's findings on practices and re-
quests for corrective legislation
in financing and set-ups of giant
holding companies.
Although the nature of the
recommendations has been care
fully guarded, it as generally be-
lieved they will include regulation
of utility holding companies,
compulsory disclosure of publicity
sources, regulation of payments
of unearned fees and other mea-
sures to safeguard the public's in
terests in rates and investments.
The presidents letter said:
al am informed that you have
in preparation reports on various
electric and gas utilities, operat-
ing or holding companies which
you have not yet had an oppor-
tunity to put into the record in
the investigation which you are
conducting under senate resolu-
ton, 83, SEVENTEEN congress, first
session, and that you are conduct
ing studies or investigations of
still other companies in which re-
ports cannot be written until COM
pletion of such studies. / con-
slider it important that this. work,
which is under way be completed
and made a art of the public
record in your utilities investiga-
ton.
accordingly, pursuant to the
vested in me by section
6 CD of an act approved Sep
TENDER &c, 1914, entitled IAN act
to create a federal trade commits
sion, to define its powers and
duties for other purposes I direct
you to complete this work which
is under way and to make these
reports a part of said public, rec
ord. l think it is of the greatest
that your final re-
port to congress with your rec
concentrations be submitted not
later than Jan. /, 1885,"
The commission, in its annual
asserted that it would con-
tinue it's investigation during the
coming year, stressing particular
ly companies in the natural gas
field, and submit a supplemental
report on these later findings in
January 1886.
During the last fiscal year, the
trade commission examined the
following utility groups: Associa-
ton Gas and Electric company,
Central Public Service company,
Cities Service company, Electric
Bond and Share company, insult
Group, Natural Gas Pipeline Co.,
of America, Niagara Hudson
Power Corporation, Stone and
Webster, the United Corporation,
and the United Gas Improvement
company.
From the beginning of the in
quiry to July /, 1884, the COM
estimated that it had ex-
amined utility holdings compan-
les with assets of $3,972,00,00O
sub-holding companies with as
sets of $2,467, 100000 and operat-
ing companies with assets of So
491, 100000 or a grand total of
$3.50, 100000.