Salt Lake Telegram | 1938-11-15 | Page 5 | TV a Probers Authorized to Air Utilities' Tax Data

TVA TV A Authorized To Air Ail Utilities' Utilities Tax Data WASHINGTON Nov 15 UP UP- UP President Roosevelt by executive order today authorized the joint congressional committee investigating ing the Tennessee Valley Vailey Authority Authority Authority Author Author- ity to inspect income and excess profits tax returns of private ties The executive order was written in general terms to permit inspection inspection inspection tion of returns for calendar years up to and including 1937 T TVA V A Committee Counsel Francis Biddle said that the order was designed to permit the investigators to assemble assemble assemble as as- information bearing on valuation valuation valuation val val- val val- of private utility properties Airing Slated Biddle indicated that a portion of the information assembled from the returns may be brought out when private utility executives testify testify testify tes tes- tes- tes before committee hearings this week The executive order order- was published published published pub pub- as the T TVA V A investigators resumed hearings receiving a de de- de- de of T V A operations in reports reports reports re re- re- re ports from five officials of the agency Explaining the purpose of the investigators in investigators investigators in- in in scrutinizing the tax returns Biddle said the Information information information tion is expected to show the depreciation depreciation depreciation de de- of private utility properties proper proper- per per- ties and provide data for use in study on a fair basis of exchange in T V A acquisition of private utility holdings The reports of the five T TVA V A officials officials officials elaborating a defense of the authority's operations went into the committee record over protests of I Representative Wolverton R R. IN N. N J. J Wolverton sought to block their introduction but was was overruled by Committee Chairman Donahey D D. Ohio After losing in the move Wolverton served notice that he will request that each of the five T TVA V A officials who presented re reports reports reports re- re ports be called for examina cross tion Donahey agreed to do so