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cjjcwbcnlC A l LV“ iM*“Since I86(il’ublishotl r\cr\ in the year l Tho IndependentPublishing i omptiy, Inc* Helena, Montana\VIiAj A. CAMPBELL, president and Editor_Mt r. l or of The Associated Press. The Associated Pressis rxrlusiv* i\ entitled to the use for publication of all ! t \\ v jjvj niches lt;reditt d to it or not otherwise credited in this paper and also the local ne^s published therein._____________MamUMMTT^—M—M—I—Telephones 491 and 192Subscribers will confer a favor by calling the office onthlt; telephone if carriers fail to deliver papers promptly t? e telephone if carriers fail to deliver papers promptlySUBSCRIPTION HATESDa:lv and Sunday, delivered by carrier or bymail, one year, in advance ..............i »ai!\ and Sunday, one month, by carrier ormail,! inlladvancebvSunda\ Independent, by mail only, one year..$10.00.905.00WEDNESDAY, AUGUST 26, 1936CAN YOU BLAME THEM?On the authority of several Scripps-Howard newspapers, consumption of electrical energy is mounting so fast that it threatens to overtax generating capicitv, unless the utilities go ahead with long ready plans of plant expansion. We don't think there is any doubt about it—utility executives will admit it—they are even more specific. They have said that if they started to expand and to build newr plants today, they could not build fast enough to meet the demands during the next ten years.The Magazine of Wall Street reports that the utility executives are holding off until after election. Having despaired of moderation of the New Deal’s power policy, they are hopeful of a Landon victory. But regardless of who is elected, the magazine predicts, there will be a sharp spurt in orders for equipment as soon as the votes are counted.The Independent holds no brief for the utilities. They are abundantly capable of presenting the facts with regard to why they are not engaged in huge development work today. But this much we know does make sense:ment: “Down with Owens the A. A. U. says, because he refuses to help them swell their coffers. There’s not one boy on the team—or maybe there’s one—or the underling manager who isn’t fed up with the entire procedure. The colleges provide 90 per cent of the athletes and the politicians run the show.“The boys merely are cattle being shipped about. You wouldn’t ask the poorest show troupe to work the way these boys worked immediately after the games—all without a cent of spending money with which to brighten an otherwise drab picture.”Snyder complains Owens was sent to Cologne immediately after his work in the Olympics. The day after the Cologne meet he was shipped by plane “without a single mark in his pocket to pay for lunch” to Praha for another contest. “Glenn Cunningham and the other athletes were so dead tired they could scarcely drag themselves around.”AndwTe reyytired, too—tired of millionairesportsmen who paternally advise an Owens to give up his one chance of making some money, just so he can compete in a fewr more exhibitions and take their organization out ofthe red. The perfect amateur, A. A. U. style, is one who obeys Brundage, runs himself stupid getting Brundage’s organization in the black, never makes a dime for himself, and winds up, too old to cash in on his fame, in simon-pure glory on a park bench.DEPOSITORS GETTING CASHIn the prompt payment by the Federal Deposit Insurance corporation of the depositors of the closed D’Auria Bank and Trust company of Newark, N. J., which started 15 days after the bank suspended, the nation has a firsthand illustration of what it means to have bank deposits secure. Practically all of the 3,400 depositors are wholly protected. Washington announces, as individual deposits are insured up to $5,000.Up to June 1 of this year the FDIC had paid off 93 per cent of the insured deposits in theequipment.Instead of taxing the present power plants 58 failed banks since the plan went into effect to a point where they cannot pay interest on January 1, 1934, and the remaining 7 per cent their bonds and nominal dividends on their was being paid off just as rapidly as it was stock, why do not the taxing authorities stop physically possible to do so. A vast controversy thinking up ways of getting more taxes from | raged when the temporary and permanent de-the present plants and encourage the building of new power generators, the extension of transmission lines and the installation of newhousehold appliances, air conditioning machinery, replacement of steam with electrical power, and get their increased taxes from the newly developed property instead of devising additional taxes on and all that they include?If a utility can secure the funds to build adevelopment, we would be better off as a state than to soak the present dams, generators and transmission lines. We continue to heap taxes on present property instead of encouraging the building of plans which would automatically bring in a great additional volume of property taxes, licenseposit insurance bills were before congress.One effect of the insurance has been to increase deposits within the $5,000 range and to free small depositors from occasional panicky fears. Small banks generally are enthusiastic for the lawT, though a good many large, well-managed institutions with big surpluses have existing plants | withdrawn from the FDIC, holding it unnecessary for them to be subject to a charge of one-eighth of one per cent for insurance.Unew $50,000,000A NEW CUP CHALLENGEUndaunted by his failure two years ago, T. O. M. Sopwith will make another effort to lift the America’s cup, a feat which the Britons have unsuccessfully attempted 15 times since 1851. But there is no daunting the Britishtaxes, corporation income taxes and something | sportsmanship, even though 85 years havefrom all other political taxes levied against elapsed since the trophy was offered by thethe utility companies.Let’s apply the same rule to power plants which we do to agricultural lands. In manyRoyal Yacht squadron and won by the schooner America.Lord Dunraven and Sir Thomas Lipton,parts of the United States farms are taxed especially the latter, are the best remembered\to a point where they cannot make profits and cease to pay any taxes. It would be better to let taxes stand at present levels or lowerof the challengers who have sought this prize, which stands out as the first international trophy. So persistent was Sir Thomas—he builtthem and encourage the opening and the in- five Shamrocks as challengers—that there were tensive development of a few million acres of expressions of regret by loyal Americans who additional lands. -admired his sportsmanship at his failure toIt would be good sense to retain the present win the trophy.rate of taxation and the present rates forTho challenge, which has been sent to thepower, and develop needed plants. We would New York Yacht club, will add to the gayety of then have the additional revenue and our pub-| the Newport season next year. The American lie utilities would be in a sounder financial condition.Thismay not be good politics in the eyes 'if the New Dealers in state and nation, butit i' good sense just tht* same.JESSE SHOULD TURN PROJesse Owens, having done his stint for the Olympic team in brilliant fashion, has become involved in difficulties with Avery Brundage, head of the American Olympic Committee, because of his refusal to accompany the teamtour of Europe following the games, it is reported, is to be denied his A. A.U. standing.The least the American Olympic C ommitteecan do for Owens is to permit him to retiredefender is not yet decided upon, but it may be that Harold Vanderbilt’s Rainbow, which successfully defended the cup two years ago, will be brought up to match the Endeavour II. This contender, launched in June, is the largestClass J racing yacht ever designed.on a ()wen:Thieves stole $32,000 worth of furs 1n northern British Folumbia and are reported to be on the way to the T. S. They better hurry and pet here if they wish to save their skins.from the amateur competition on hh own terms. As the outstanding star of the Berlin games he has earned that concession and farNor si uld any efl t be made to restrain him from turning his great athleticabilities to financial advantage.IAfnFrom Tl«* New York Post.Owensthiannow athasnd to the country.athlete. Hezenith of his fame as brought glory to OhioIn a little whilethnowtate aharp edge of superiority which he noww;;; lost, . d lt;*rs will surpasshim in the fields of competition where he isujn eme. It is only sensible that he make of his ability and his prestige.ification of “amateur” ineven includesmeans of support dedr another from their par-In the case of Owens ionalism will be mademost} lt;*vt I ) I I\t mathletictheomehoan onlvdas: elastic onevisibleandri\ iin one wa\1 pat ion i change■Miin sports.to prole:( )i -• ly and the money earnedt he1 be as honest as any that could come to him in the working world.The Amateur Athletic ion exists to serve ,r athletics. Amateur athletics don’tt to serve the A. A. U. Two dispatches abroad following the disgraceful susjen-\ XI) S1I1F\ I) FAT II!Slaughter on our highways takes a sudden Jump. Deaths and injuries from motor accidents are on theincrease.Drunken driving is partly responsible.Kxcessive speed is partly responsible. Automobile clubs champion a “safety speedometer” which will show, tin the dash, the potential dangers ateach speed.Three-lane highways are largely responsible, says Fortune magazine, which calls them “unfit for modern motor traffic,” and urges that our highway system be replanned “for a combination of an eighty-mile-an-hour car in the hands of a twenty mile-an-hour driver struggling to adjust itself to a thirty-mile-an-hour road.”AH of this is true enough.Hut real policing of drunken drivers and speed maniacs will mean far bigger police forces than we. far bigger police agjijropriations. Divided-lane highways cost from $100,000 per mile up. And even then we will not have tackled the fundamental factor in the mass horror of sudden death on ourig h ways—The driver himself.Fortune's survey reveals that “15 per cent of thedrivers cause nearly 100 per cent of the accidents.’*Is that strange? Not when we examine Fortune’sfigures(OilI /n lt;jf Jesse Owens indicate that Avery Brun-r Til ilk believe God made printerthatdagepan«rso A. A. L\ gate receipts could increase, j ; 1. ■ i .Jlt; char*athletes “can't even afford a sightseeing trip.tin v have no money. We can't even•s which show :“Four Slates impose no restrictions on drivers at all;“Fight stales require only that non-commer* rial drivers shall have attained a minimum age,as low as fourteen;“lt; f the remaining tliirty-siv Mate* that makedrivers procure licenses, twelve gram them on....... application, and of the twenty-four statesn-ouiring a driver’s irsi NOT lt;\F IMFOKFS \HI. NSF-MAKI M* IvXAMIV \TlO\.“It i grot Uni t inn Win dra1 thei thej the a re som into gerc Seclt; and fede botl gent toItthe sok no1 ther grea eoui to elt; precone menT1onceseariing. goveselfbutm akm a k * fedei such studi tionttienl “\n u m unen knov oughthis,ploy i quatilocatacterworkprevitionsThtakeinial era I ment exten time.plet eploynboredplove' Vemphma k iiful'vforced to sit around in the hotelWhat use improving highways, increasing police forces, waging safety campaigns- if any fool can drive a car which wise men have built to the pointof nearly 100 per cent mechanical perfection andt )wens s coach, Larry Soj * ■ * mak e*^ a stnt6* I safety Ii )t cans*buv a souvenir.ftInment, n it t n r drawi the bmakelie, t m en tin bvmustfeller ing oc
Newspaper Details
Helena Independent Record
Helena, Montana, US
Wed, Aug 26, 1936
Page 4
Full Page
Clipped by
Pikes P.
CO, USA 09 Jan 2020
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