The people's voice. [volume] (Helena, Mont.) 1939-1969, 1961-12-08
For Better Business Climate
British Columbia Points the Way

British Columbia Points the Way
government British Columbia, by parliamentary act took
Canada's largest private utility, B. c. Electric
the compelling for the province buying out
Electric according to w K Herman, BIC minister of mines
speaking Spokane last Saturday better
petve position the Canadian economy IN attracting new
private enterprises
Herman, the sPoKEsMAN-REvIEw reported, said that
the take-over necessity because BIC Elecrc)
forced federal taxes their light bills long
it remained private utility"
provincial minister, who is also deputy chairman
of the BIC commission stated that I'VE were in very
unfavorabe competitive position with other provinces long
federal forced the private firm to this
tax
Maybe food for thought in BCs action,
long standing mfavorabe competitive position
of Montana's economy.
purchase of the private utility that province
like held little attraction for basic industries which
largely dependent ow-cos for profitable
ton.
Here in Montana Hungry responsible
major industrial operations which have located in Mon
the decade Anaconda Aluminium and Victor Chem
ca Yelowai is the principal given by Permanente
Cement for their upcoming plant near Helena.)
Anaconda in its releases at the time the aluminium
plant opened said that the the located it's
plant abundant supply of
made available by the federal Hungry Horse
Aluminium provides steady employment for up
pays almost three-quaters of
million dollars in taxes to Fathead county each year.
Victor Chemical while somewhat smaller, is substantial
job provder and taxpayer in Silver Bow county
What first which would to
Montana Montana Power Company by legislative action
should be set up publcly-owned corporation?
Above and beyond putting end to the coruptng political
legislative influence of the utility lobby
there would be immediate stoppage of dranou of almost
ten million dollars annually in federal taxes which MPCo
reny collects in the bill of Publicly
owned utilities not subject to federal tax MPCo federal
bill for the IL months ending September 3d. President
Coree reported to his stockholders toaed $9778539 Since
that tax bill amounted to about 20 of the u $49
245940 for the period immediate
board reduction of 20 cent rates could be
into effect under State ownership
But that's not ALL For that PERIOD Corette reported
$11 576772 in income available
dends Eghtyve cent of MPCos stock is owned
by persons corporations Eghtyve per
of that net available another $9540256
Here reduction of per
be made.
Add the first and second together and within
years time thered be in of $193OOOOO increased
purchasing power kept right here in Montana.
Taxes collected by MRCo from you and for state
local of relevancy here since that
more times before leaving Montana. II
In addition to keeping those federal taxes and dividend
payments here in Montana, the State public entity
borrow cheaper than private utility Here again
other for lower electric raeand asoa
the federal government for paying off basis the
actual worth of the utility to it's stockholders r
Further savings could be brought about reduction
0loated salaries paid top management T
beginning reduction in rates of 40 per would still
not rates with those Washington and
Oregon but because of the close proximity
particularly phosphates and other mnerals-woud materially