Newspapers / The Pilot (Southern Pines, … / May 31, 1935, edition 1 / Page 3
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Friday, May 31, 1935. THE PILOT, Southern Pines and Aberdeen, North Carolina Page Thr«« The Rayburn-Wheeler Utility Bill Now Before Congress Another Kind of Machine Politics (Cofyricbt. ) RR(il I.ATION In one tiling;—HL’IN Is nnother. Consequently, In opposing the Rnyhiiri. bill, which Jor >.-ars the llearst ne«vs|ia|i<'i's have denounred anil troiild WKKCK the twelvc-thousand-miiiion-clollar utili' exposed t'vils exisiiuK in the utilities hohliug '■onipany system and have adviicaled UK 'tUOI. lint the Hears't newspapers have likewise eonliseation of leKlti- niateiy aequired private property without due rompensa* tion, the destriK lion of honest investiiients and the demoriili/alion tif i:seful hiis'ne.ss entei pris-s. ti(‘s industry, Instead merely of making reforms, the llearst newspapers are consistent in theli long-estab* lished policy. The Rayhurn bill must be rejected RECAUSE* IT 19 r()XTRAI{V TO THK ITRKK’ WKI.KARE. special prrmisKtiun frum the NlOU VOKK AMKKlC.iN of Miiri'h 2<i. Let’s Look at the Record Who Are AGAINST the Bill? A Majority of Newspaper Editors— Hundreds of Thousands of Individual Investors— Investors* Organizations— Practically all Business Organizations— Savings Banks (With 14 Million Depositors) — Insurance Companies— State Public Service Commissioners— Investment Bankers— Banks and Trust Companies— These Are the People Who Are OPPOSED to the Public Utilities Bill! As reported to the Senate on May 15, 1935, the so-called modified version of the Bill is substantially the same as the original destructive draft Who Are FOR the Bill? Except for a few g-overnment offi cials who are advocates of govern ment ownership, and a few who have long had a deep-rooted prejudice against the public utilities, there is apparently no answer During the past few weeks, orgranizations and individuals from every state in the Union have openly declared themselves against the proposed Bill, emphasizing the following five points: la k weuM seriously retard the nation's economc recovery; 2a It would cause immense destruction of values in utility securities; 3a it would increase the cost of electricity to the consumer; 4a It would undermine the efficiency of the light and power industry; 5a It would virtually nullify state jurisdiction over locial operations. An Advertisement by the CAROLINA POWER & LIGHT COMPANY in the interests of its 11,000 stockholders, 70,000 custiomers and the 240 communities which it serves
The Pilot (Southern Pines, N.C.)
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May 31, 1935, edition 1
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