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Show THE SEARCHLIGHT The Symbol of Bear Creek ‘lo headline readers the name Bear Creek, Montana, has little significance. The frightful coal mine disaster a few short weeks ago in that out-of-the-way place, that snuffed out the lives of 74 miners, is all but forgotten. The facts of that catastrophe have so far receded in the public mind that few people have any but the vaguest recollection of Bear Creek and what happened there. But to workingmen and women throughout the country—organized and unorganized— Bear Creek is rapidly coming to mean much more than a jumping off place in Montana where 74 men met a horrible and untimely end. Bear Creek is becoming a symbol of the increasing concern of government for the welfare of its citizens, and a triumph of social security legislation and administration. Ihe reverberations from the mine explo- Kilowatt Mergers-(Continued from preceding page) latory authority—of a new ‘board of directors in which the preferred stockholders shall have control, and in which the bondholders should have representation. Thereafter a suitable plan of recapitaliza- tion should be submitted to SEC, or devised by SEC, that completely eliminates the common stock of the Power Company, now held by an intermediate subsidiary of Bond & Share. A rate base in Utah will have to be established. as soon as possible on a formula of acquisition costs, prudent investment, and adequate depreciation. When that rate base is determined the proportion of water in the preferred stock can be ascertained. Then it will be possible to assign a legitimate value to the preferred stock as the holder of any equity in the Company above bond mortgages. Certainly, the public must not be compelled to pay rates that will provide for a return on claimed values that do not and never have actually existed. Bond & Share, and those who have played Bond & Share’s game should foot the bills for their own misdeeds and for their own unwise stock purchases. The public already has paid more than enough. sion had hardly died down and rescue work begun when the machinery of enlightened social service began to extend the mantle of its humane protection to those who were left to mourn. The regional office of the Social Security Board at Denver, Colorado, and field offices in Miles City and Billings, Montana, swung into action. Temporary offices were established overnight right at the mine. Representatives of the coal mining company and officials of the miners union cooperated diligently with the families of the dead to establish proper claims for insurance for surviving dependents as provided by Federal social insurance law. There were no unseemly delays. As quickly as bodies were identified the claims were completed and forwarded to the regional office for immediate certification for payment. The period of shock and grief following the loss of loved ones was not marred by apprehensive speculation about the future. The assurance was prompt and certain that the passing of the breadwinner would not stop the bread. Widows and children left orphaned by the disaster will receive compensation payments over a period of vears—in some eases for life— under the provisions of the Federal Social Security act relating to old age and survivors’ insurance. In some instances dependent parents will receive compensation payments for several years. Field office manager, Carl W. Bruner, of Billings, Montana, and Robert I. Morrison, office manager at Miles City, representing the Social Security Board, hastened to the scene of the disaster. Heber R. Harper, regional director, supervised the job of getting all claims ready for payment without the loss of time. Commenting gency, Mr. on Harper the handling that emer- said: Our field men effort to expedite ment can begin as derstand of the in Montana made every the claims so that paysoon as possible. We un- most of the workers who lost their lives were employees who had been with the company and are either for a long time fully or partially protected by the insurance provisions of the Social Security Act, which (Continued on following page) |