Show A NEW POWER PLANT PLANTIS IS NOW ADVOCATED Millions illions of Dollars for Power Development Development Devel Devel- ol fn in Utah Colorado and andU D U joining Will bo lie Released sc 1 Soon Millions lillions of dollars for waterpower water pow er development In Utah Colorado and Wyoming will be released through Investment channels immediately immediately immediately im im- im- im mediately if a uniform accounting plan designed by the National Association Association Association Asso Asso- of oC Railway and Public Utilities Utilities ties Commissions and forwarded by telegraph to Secretary of War Weeks Is adopted by the federal waterpower waterpower waterpower water- water power commission of which the war secretary is chairman Warren of the Utah public utilities commission long recognized ed as a prominent figure In Ina a wide nation-wide movement to modify the more severe and throttling accounting accounting accounting ac ac- ac- ac counting requirements of the federal feder feder- al water-power water measure so 80 as to tomake tomake tomake make the field an attractive one for Investment of private funds signed the message transmitting th the ap approved approved av- av proved plan of oC the national association association association tion to Washington Carl D. D Jackson Jackson Jack Jack- son president of the organization signed In behalf of all other sections interested in power making The chief result of the suggested plan would be the nullification of many prescribed administrative re requirements requirements requirements re- re and accounting technicalities technicalities technicalities of existing federal laws law generall generally gen- gen regarded as hindering corporation corporation corporation corpor corpor- exploitation or power resources resources resources re re- sources in the west Leading bankers bankers bankers bank bank- ers stand ready to loose investment funds when the major provisions of the new plan have been accepted by bythe bythe bythe the waterpower commission A hearing on the subject will be held in Washington at an early date ac according according according ac- ac cording to o Mr The federal accounting system as applied to hydroelectric projects is of such rigidity that it alarms prospective investors and has thereby thereby thereby there there- by tied up all sources s o of funds for such development Mr Jackson said as he forwarded the message to Washington The investment bankers however er thoroughly approve the system adopted by this association and are willing to release anywhere from two to three billion dollars If the government adopts it Something approximating these amounts would be needed to develop the projects already before the federal commis commis- sion The Rocky mountain and Pacific coast st states tes would be the scenes of the greatest development Federal approval or the proposal would not only put under way the enormous construction projects in involved involved involved in- in but would give invaluable encouragement to industrial expansion expansion expansion sion through the creation of millions millIons mill mill- Ions of electrical horsepower Mr headed the committee committee committee com com- of the utility men which formulated formulated formulated for for- the approved code The task required more than four years Other members of the committee were 0 O. O 0 O. O Calderhead of Washington Washing Washing- ton state W. W M. M Hammond of Illinois Illinois Illinois Illi Illi- nois J. J W W. Lister of Massachusetts and George Matthews of Wisconsin All are commissioners in their respective respective re re- states The federal commission is composed composed composed com com- posed of three cabinet members members- Secretary of War Weeks Secretary of the Interior Fall and Secretary of Agriculture Wallace o |