UTILITIES: No More Water

When a careful man builds his house, he itemizes his actual expenditures—so much for land, so much for lumber, for brick, for cement, for hardware & plumbing. Last fortnight the Federal Power Commission, through its Solicitor Charles A. Russell, ordered power companies seeking U. S. licenses to construct plants along navigable U. S. streams, to exercise the same care and precision in estimating their construction costs. Reason: the U. S. has an option to buy back such licensed plants after 50 years and it refuses to pay an excessive price for them....

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