OCR Text |
Show THE SEARCHLIGHT Reddy Kilowatt Lays Another Egg Reddy Kilowatt has laid another egg. This time it’s a transportation ege—the forerunner of a blessed event scheduled to ripen early in July. The cackling that followed the event was terrific —wonderfully well organized—and almost real. By design Reddy's paeans of rapture reached the front page of the Tribune. Fitz & Fish contributed another of those polished masterpieces that always usher in the birth of a new utility from preceding praised as such by the Commission and valued at should “going concern be scrutinized closely. “standing concern value” value” We should also believe that govern about one-fourth of the Company’s standing idle in need of repairs. since cars are The people of Salt Lake should pay fair rates on the actual value of the bus system—and not a dime more. The Traction Company should not be permitted to value a broken down bus at $6,000 if it is worth only $2,000. A. new setup, operated by a Utah concern, buying Traction assets at their actual worth, would serve shown Salt Lake that regulatory best. taken to insure a perfect hatch. In the excitement of the moment Doctor Gadsby neglected to fumigate the cradle as a pro- tection against Holding Company vermin. But Experience authority cannot If it hatches, the egg will be vermin-free. And buses that are mere junk should be apThe Reddy’s offering in a special incubator where every scientific and legalistic precaution will be little apprehension. page) be made a condition of purchase by any buyer. junk prices. beaming tenderness, the nimble Doctor deposited the SEARCHLIGHT always assists Doctor Gadsby in such matters, so the public need have Utility Racket? (Continued angel. The baby must start life without a past. Naturally Doctor Gadsby was in attendance. With suggestive pecking, hopeful clucking, and has reach a New Yorker or a Californian with the same ease that it can reach a local operator. Therefore from the standpoint of regulation, and the public interest, a Utah concern should be given preference to buy. It is highly important that the Public Service Commission, the Salt Lake City Commission, the public, and the Securities & Exchange Commission, exercise the utmost vigilance. They are dealing with clever manipulators. The public has much to lose by going to sleep now. The mass transportation business in Salt Lake City should be run in the public interest—not primarily as a gravy producer for a distant holding company and monopolistic servicing con cerns. People who serve the public should be well paid. But there is no occasion for multiplied profits. One decent profit is enough. The little rooster already has been christened. When it emerges from the shell it will be known as “SALT the only with of our Rector LAKE link CITY that hick will identify town. street LINES”. All and That the little else will be glamorous name is darling a mixture California. Dr. Gadsby was very careful to supply Mr. Haugh with a Union Pacific pedigree. Appearances just have to be kept up. Next in line is a noble Viking by the name of Andersen. His connection with Gadsby for the moment remains undisclosed. D. M. Pratt, ancestry and habits unknown, brings up the rear. The trio comprise the California front of Salt Lake’s bus system— maybe. The show is to be stagenamed by Doctor Gadsby’s clever lawyer, Paul H. Ray. Paul is the brightest Ray of the Ray family. Even his relatives describe him as the genius of the Ray tribe—keener and more penetrating than an X-Ray. Paul’s job is to coordinate “Salt Lake City Lines” with Utah Power & Light. Haugh, Andersen, and Pratt are to be kept thoroughly indoctrinated with kilowatt germs. It shouldn't be difficult. But if it becomes tough, Paul can do ’er if anybody can. Gadsby made Paul a director—the director— in “Salt Lake City Lines”. As the director, Paul knows all the angles. He can improvise some if need be. There are many unanswered questions about the kilowatt deal with “Salt Lake City Lines”. Are Dr. Gadsby’s fingers still in the pie? Di rectly or indirectly? Is anybody getting a kick(Continued on page 7) |