Indianapolis Times, Indianapolis, Marion County, 5 December 1947 — Page 42

-. THE INDIANAPOLIS TIMES : rs FRIDAY; DEC. 5, 1947

TVA Refutes Charges by Flynn That Books Covered Up Big Deficit |» Honor Pupils Listed

By Decatur Central fona riations like an “Nei M ynn's proposi- amiliar ts purpose. A less ‘were $339 million. The revenues Writer Makes Six Proposals fo Revamp os congress 1 approp tions like a y either of Mr, Fl (3 7 junt with 1 e ve

4 (other costs’ of government.” * tions is new. Both have been per- charitable view is that he under- | were $209 million. Thus there acti] Dott achieved ow h Shoo stu. Operation and Financing of Agency _Says Propositions Old sistently advocated by organizations stands the law so well he knows ally was a deficit .of $130 million. rating this past period are: By MARSHALL McNEIL,’ Seripps- Howard Star Writer “Mr. Flynn's proposals, says Gor- and interests--Edison Electric Insti precisely how to “accomplish the, But TVA has a different figure. It| Senlor—Thomas Jackson. WASHINGTON, Dec. 5—John T. Flynn charges in the cuirelit don Clépp, TVA chairmn, reveal a tute, National Association of Elec- purpose which the enemies of TVA arrives at it by leaving out of its! glumes Sebnston: Borty Fave Falmer, Beck _ home remedy you can use to relieve Readér's Digest that “hidden red ink" on the bgoks of the Tennessee “lack @! understanding about the tric Companies, U. 8. Chamber of have long sought, unsuccessfully, to! accounts the $129 million paid by Mn David, "Laura Lis. distress of colds valley Authority actually turns its claimed profit into a large deficit. TVA that is hard to accept as gen- Commerce, National Reclamation achieve.” {the government as interest on the! entelter, hr Ba Kollman, is to rub throat, Vv! CKS But TVA says this is not so. It describes the Flynn article as a “too uine.” i Association, Middle West Corp., the! Mr. Flynn's article is built around loans.” Froshmes 3 kson and Jo Ang P Harrell, chest, back with clever piece of verbal razzle-dazzle designed to deceive the public and| His advocacy of splitting up TVA, remains of the Ihsull empire, among the following statement: | Mr. Clapp points out that Con- or pul Bent Bent Bere tia, Bray, ary dE: - EPAIRS COST | the electricity consumer.” {leaving only power production to others—which would like to see TVA! “It cost $762 million to build TVA. gress this year stipulated TVA' | Phy, Mary Slice “Bhelley and Geraldine "RADIO R Mr. Flynn, formerly a supporter priate departments of the gayern-|, that agency, would destroy the Ten- destroyed and which, unlike Mr. The government borrowed and put would have to amortize the invest. | Gault. LESS AT DE LUXE | lof TVA, says its bookkeeping dis-| ment. They should be divorced from fnessee Valley's regional development Flynn, make no unctuogs denigls of up the money and pays interest on ment in its power facilities over the CENTS SHOW HARD SENSE We lend you a new radio while your set regards interest paid by the gov- {TVA power projects to ‘which they|srogram, Mr. Clapp says, and his'their intent to destroy.” it. In addition the plant must be next 40 years. This, Mr. Clapp says, BOSTON (UP)-—The Boston Five is being repaired ernment on money it borrows and have no rational relationship, financial and accounting , proposals | The charitable view of Mr. Flynn's operdted. The operation costs, over “is a requirement far stiffer than {Cents Savings Bank has 180,000 dePICK UP and DELIVERY SERVICE | appropriates to the authority. This| BIX: “The costs of these activitie:| ‘are Incorrect, unsound and care- proposals, the chairman says, is that 14 years up to June, 1946, including privately owned power companies | positors and the average depusty is interest. he says. should be includ. {should be paid out of authorized essly advanced. Mr. Clapp adds: |he hasn't read the TVA act and is| the Interest paid by the gayernment, set for themselves.” [$1111 1.

ed in TVA's costs, TVA says Mr. Flynn's contention | that it ought to record, even if it does not pay, Interest on its entire nower investment is based on the!

COMPLETE STOCK OF {false assumption that interest is an |

element of cost. Interest, says TVA, 1 ¢ Y actually is an element of return or profit, and is so regarded by com-|

AT BARGAIN PRICES AT missions that regulate the rates of |

privately owned utility companies

FR. 3418

Rehashes GOP Arguments

Mr. Flynn's article rehashes many {of the arguments for changes in| TVA operation heard here since Republicans took control of Congress Its publication also comes at a time a general fight against public power projects is gathering steam.

FOR HER THIS While contending he does not

. . want TVA destroyed, Mr. Flynn CHRISTMAS makes these six proposals for changes in methods of operating and financing the agency: |

ONE: “The outstanding Govern- |

ment debt on the power enterprise | yy AE 2 " > ce i oo {should be determined Seninialy i and : ; SEY 1 ra p> Fat For Your Christmas “EVE lon it. p ; : A . TWO: “TVA should pay off thi:

debt in 40 years. 4 Ky : 4 : eo ye ue items and all 4 f Vv 7 : mm. Lay Away i Smart

other costs should be included in the

rates charged for power, 8 ® : " ® ' FOUR: “TVA directors should not 3 a 3 . , : Davidson Fash 10 NOW!

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Cedar Chest be the sole judges of the amount

of the Investment in power, ! Beautifully fin- FIVE: “All non-power activities § 4! janeg i Ne 9 50 of TVA--agriculture, fertilizer pro- 1 " ’; hb duction, forestry, and other projects |

Ihe perfect git —ghould be transferred to appro-

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