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Newspaper
Denton Journal
Location
Denton, Maryland, United States of America
Date
May 06, 1960
Page
7
An explanation of how rural electrification operates, detailing roles of Rural Electric Systems, REA loans, and the National Rural Electric Cooperative Association. It outlines how coops are owned by members, the function of statewide associations, and REA as a banking loan body that does not control borrower operations.
Rates or dictate policy of the local systems REMs and the Government's interest in the operation of rural electrics is much the same as that of any prudent banker. That is to make loans and take the necessary action to collect them. And the credit record of REA borrowers has astonished many private bankers. Over $1 billion in principal and interest has been paid to REA on 83's billion in loans. Yes of all, much of this has been paid prior to due date.
The article recalls 1946 to 1955 leadership changes at Choptank Electric Cooperative. Harry A Moore, longtime director and farm advocate, became President after Voss, pushing Rural Electrification among Talbot and Queen Anne's farmers. Olint S. Davis, Kent County dairy farmer, succeeded Moore in 1955, consolidating experience from Kent Cecil farming and dairy operations. Under their guidance the cooperative grew into a seven million dollar business on Maryland's Eastern Shore.
TVA reports residential annual electricity use in the region reached about 8,000 kWh this year while municipal distributors average over 10,600 kWh per consumer. Industry forecasts expect the national domestic average to stay below that level until 1972. TVA directors credit low-rate, high-use policy for the surge and project average annual consumption near 20,000 kWh per consumer within a few years.
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