Indianapolis Times, Indianapolis, Marion County, 25 June 1937 — Page 27

FRIDAY, JUNE 25, 1937

POWER HEARING T0 BE RESUMED HERE ON JULY

Public Service Commission Members Hammer at Burnell Estimate.

Public Service Commission hearings in the Indianapolis Power & Light Co. rate case are to be resumed July 6, Chairman Perry McCart said today. A two-day session ended yesterday after Public Counsellor Ralph Hanna closed the State’s case and commissioners aided in cross-examina- " tion of the utility witness. W. V. Burnell, utility expert, retained by the Power company to establish a going concern value for the utility, testified throughout the session yesterday. Each Commission member yesterday hammered at Mr. Burnell’s $8,000,000 estimate for “going concern value.” They indicated their final valuation might give little * weight to what they termed “just an educated guess.”

Raps Utility’s Management

Earlier, Samuel Trabue, Commission member, attacked the utility's management when he said the record showed no attempt had been made to refinance the outstanding obligations at a lower money rate, despite a lower bond market. “Would you allow any ‘going concern value’ for a utility where management had been inefficient?” Mr. Trabue asked Mr. Burnell. The Boston engineer explained that he had given no consideration - to the utility’s physical values or personnel efficiency in determining the intangible value.

Cace Up Since 1934

Mr. Trabue brought out testimony that utilities, either through overfinancing or inefficiency often become overloaded with equipment. Mr. Burnell indicated he would al‘low no “going concern value” to a concern where such a hypothetical situation existed. : Hopes that testimony might be finished this week were dimmed as utility attorneys indicated they would take two more days to introduce further evidence. Clyde Jones, Light & Power Co attorney, did not reveal the nature of the additional testimony, but financing costs and evidence bringing the accounting records up to date are expected to be introduced. The light rate case has been before the commission since 1934 ‘when Senator Minton as public counsellor ordered the company to show cause why rates should not - be reduced. The inventory was ~ completed and appraisal made kg Commission and utility engineers last September. Hearings were resumed Wednesday after several week’s recess. .. Further rate reductions, as well as simplification of accounts and - rate scehules, were expected by observers to come in the Commission final rate order. ‘More than $1,000,000 annually already has been , cut from consumer’s bills, the record shows. :

FARM THIEVES GET 1 TO 5-YEAR TERMS

By United Press BRAZIL, June 25.—Six membegs of a gang which has been robbiry - farm homes near here were under - sentences today of one to five years imprisonment each and fines of $50 and costs. ~~ They were Gilbert Guthrie, 26; .. Zeeland Waggoner, 30; Seth ‘Michael, 23, and Lawrence Browning, all of Clay City; Roscoe Kil= lion, 21, Hoosierville, and Harry Chamberlain, 26, Terre Haute. . Five members of the gang were charged with robbing farm homes and selling the loot through Chamberlain. Police sought three other men said to have been implicated in the robberies.

Selects Board

Frank E. Livengood (ahove), commander-elect of Irvington Post, American Legion, has appointed a special committee to plan a complete 1937 program for the post. Committee members are: Floyd H. Smith, Harry Morton, Philip E. Lamson, Daniel Glubka, Camille Bernard, Herman Bowers, John Spotts, Carl Stauffer, Verne Sholty, Leon Mount, Charles Warfel, William Keller, L. Glen Brock, Merrill’ S. Woods, Charles Broadhead, Clarence Ullum and Sterling Harvey.

FEDERAL FAIR-TRADE BILL HELD NEEDLESS

State Laws Are Sufficient, Attorney Tells C. of C.

State “fair-trade” laws make it unnecssary to have Federal legislation covering the same grounds such as "the Miller-Tydings congressional bill, Verne G. Cawley, Elkhart attorney, told the Indianapolis Chamber of Commerce yesterday. George S. Olive, Chamber president, presided at the luncheon in the Indianapolis Athletic Club. “The Indiana fair-trade law permits manufacturers and distributors to contract with retailers to sell at not less than a fixed price any trade-marked or branded item,” he said. The penalty, he said, for selling below such fixed prices is that “they may be enjoined and damages collected.”

LOCAL CONGRESSMAN GETS GHAIRMANSHIP

Rep. Larrabee Shifted to Education Group.

Times Special WASHINGTON, June 25.—Rep. William H. Larrabee (D. Ind.), whd said last week he wouldn't take the

Committee chairman. Rep. Brooks Fletcher (D. O.), who otherwise would have got that post, succeeds Rep. Larrabee as House Census Committee chairman. The shift is attributed to House leaders, supposedly because Rep. Fletcher is a co-sponsor of the controversial Harrison-Black-Fletcher bill for Federal subsidies to schools. Rep. Larrabee has opposed it. The education chairmanship was vacated by the transfer of Rep. Vincent L. Palmisano (D. Md.) to the House District of Columbia Committee. Rep. Larrabee is 67, a fourthtermer and a New Palestine family doctor.

COAL BOARD AIDS PICKED James R. Marshall, Shoals, has been named chief clerk to the Indiana office of the Federal Coal Commission and Mrs. Mary Garott, Frankfort, office secretary, according to Ollie A. Davis, Indiana director.

BRITISH DECLINE FEARED LONDON, June 25.—Great Britain’s population of 40,563,000 may be reduced to 4,426,000 by 2035 if the

recent trends of fertility and mortality continue, according to a memorandum just issued by the Population Investigation Committee.

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