The people's voice. [volume] (Helena, Mont.) 1939-1969, 1944-05-05
Commitments

this column has previously stated there appears little
that the Federal Power Commission holding hear
ngs Butte together with the Montana Public Service Com
mission wreups in the valuation of the Montana Power
Company, going hold that the company must eliminate
from its reported valuations fifty millions of dollars
This represents watered stock fictitious valuations attained
night for the enrichment of financial brigands
The charges of wreups made by the Federal Power
Commission after exhaustive investigation OF the accounts
of the power company by trained experts and the evidence
adduced the hearing establishes charges that
scionabe profits IN the form OF common STOCK IN the montana
Power Company allotted to John d. Ryan and his
in their transfers of plant properties to it when was frt
organized And it must be remembered by the Montana
public that all of this fictitious valuation has been used by the
company which to fix its charges for service
the Federal Power Commission rules that these
wreups be eliminated from the accounts of the Montana
Company question of reduction rates charged the
by the will be in the lap of our Railroad
and Public Service Commission.
Up this me the valuation for rate making purposes
accepted by Railroad and Public Service Commission of
the state has roughly twice the valuation used by the
State of Equalization for taxation Several
times bills have been introduced in our state legislature pro-
posing to equaze discrepancy the company the
valuation which based its rates for service to the
public But through the influence of the powerful interests
of the state such efforts always shor-lived.
Public Service Commission have always had the legit
that had available for nvestga
the valuations set forth the annual reports made
by the The commission perforce had to accept
them value Now however, the work of valuation has
DONE by the Federal Power Commission The Federal
Commission questioning whether not the plants
originally worth what actually paid for them
accepting those actually paid proper valuations 1t
questions only the right of the company to carry valuations
the many millions of dollars in watered stock
without When
the organized which the have
been paying profits since.
The Montana Railroad and Public Service Commission
will further for not ordering reduction in
rates if the Federal Power Commission holds that the
company wipe its waered stock from its valuations
not be complacen about this We venture the
dcon Public Service Commission will stall and find
least delaying action 1t refuse to accept
the findings of the Federal Power Commission perhaps assert
that the state agency make investigation before acts
The only thing the state public
mission to act is public opinion
AS before demand
candidate this for office Railroad and Public
Service Commissioner, a commitment his attitude toward
this issue of fact candidate for the office
has readymade campaign issue in this question and if he
lodges cearcu and decisive in his statements
about it. looks excuses the public will then know in
that he going favor the interests as
against the pubic's.
This should also mind when sounding out the
attitude prospective candidates for the legislature 1t
cear-cut ISSUE the exploiting interests the people.