Show N N. N Y YI POWER VER RATES CUT 35 PER CENT GENT WASHINGTON May 8 S UP UP- UP The federal government and the city cUy of ot New York announced today they would accept rate reductions of ot mo more e than 35 per cent for electrIc electric electric elec elec- current supplied by the Consolidated Consolidated Con Con- Gas company of New York The electric power rate saving to the city of New York was set by Mayor Fiorello H. H LaGuardia at and the saving to to the government at annually Both LaGuardia and nd Secretary of oC the Treasury Henry Jr said th that t. t acceptance of the rate cuts by the government and by the city will In no way affect the privilege privilege lege lego of ot either to build their own power plants In New York City should it be deemed advisable S |