State boards puts value on major utilities in big giveaway
California's 10 privately owned utilities were assessed at a combined market value near ion billion, with the board lowering the assessment ratio to 25 percent. Chairman Bennett cried foul, calling it a giveaway and saying values should use reproduction cost. Other members urged fairness as railroads were not priced. Final figures to be set in August allowing appeals. Local governments gain about 7.5 million yearly due to the lower ratio.
MENTIONED IN THIS ARTICLE
Sacramento
State Board of Equalization
California
William M. Bennett
Bennett
George Reilly
Pacific Lighting
Pacific Gas and Electric
Southern California Edison
General Telephone
Pacific Telephone
Santa Fe Railroad
Bradley-Burns
Pac Tel profit bid trimmed by utility rate guidance
The California Public Utilities Commission staff recommends Pacific Telephone be allowed a 7.9 percent rate of return in its request for a 291 million dollar annual rate increase. The staff notes the company currently earns about 9.44 percent but uses different depreciation methods. It also suggests tax savings from capital improvements be passed to consumers, a move Pacific Telephone says could threaten bond payments and service quality.
MENTIONED IN THIS ARTICLE
San Francisco
Pacific Telephone
State
Public Utilities Commission
Jerome W. Hull
PUC
Mental programs unchanged in California state hospitals
Acting State Mental Hygiene Director Andrew G. Robertson told the Senate Finance Committee there will be no real upset in programs in state hospitals for the mentally retarded over the next year. He projected the patient total would fall from 9,800 to about 9,700 in the next fiscal year, a drop of 100.
MENTIONED IN THIS ARTICLE
Sacramento
UPI
Andrew G. Robertson
Senate Finance Committee
Bill to tighten odometer disclosure rules advances
A Sacramento bill to bar dealers from disconnecting or rolling back odometers cleared the Senate on Thursday by a unanimous vote. The measure tightens odometer controls and aims to protect buyers from misleading mileage readings in used car sales.
MENTIONED IN THIS ARTICLE
Sacramento
Senate
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Union Pacific Railroad
Southern Pacific
Western Pacific
William Bennett
Long Beach
Los Angeles
Orange County
Dee
Baldwin
Long Beach Area
New Baldwin
Ain
Auso
Rhyl
Auin
Mas i
Sam Lo Eas
Fusday Lew
Bower
Baldwin Piano and Organ CO
Atlantic Ave
Roosevelt
Torrance
del Amo Fashion Square Mall
Pac Tel
Howard Johnsons
Howard Johnson’s
HE Mall
Los Cerritos Center
Freeway
South ST
MK Thomemakers
Bill
Ead
Great AB Furnitoe
Wilshire
Mirarie Milo
W. Pica Bled
BRAGS
Weston Ave
Anaheim
W. Lincoln Bakersfield
Ming Ava
Chula Vista
Broadway
CLAREMONT/POMONA
E. Foothill Covina
N. Azusa Downey
F. Firestone
EL Cajon
N. Johnson Ave
Glendale
Central Ave
Granada Hills
Baloca
Huntington Beach
Beach
LA Habra
W. Whittier
Akvwood
Monterey Park
Atlante
Pasadena
Restmead
Riverside
Mogaola Santa Ana
Tustin
17Th St
San Bernardno
E. St
San Diego
Monsanto
Mart Ce
Inc
Monsanita
Lakewood Blvd
Lakewood Center
Euclid
Huntington Center
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