Newspapers / The Waynesville Mountaineer (Waynesville, … / Sept. 11, 1941, edition 1 / Page 10
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THURSDAY, SEPTEMBER,, THE WAYNESVItLE MOUNTAINEER at V AW. ; iisssstfmssTl 1 sssssse I Carolina Power Hearing Recessed Until Sept. 29th The hearing on the order of the Federal Power Commission requir ing the Carolina Power & Light Company to "show cause" why it should not dispose of $24,000,0000 of the book value of its assets has been adjourned until September 29 when counsel for the commission will resume its cross-examination of company witnesses in an endeavor to refute the utility's claims that 197,000,000 of value actually exists. As the hearing was adjourned, A. M. McCabe, company engineer in charge of the reclassification of property, had been under severe cross-examination for 29 days by commission counsel, which sought to break down his testimony with regard to original construction costs. Mr. McCabe has steadfast ly contended that cost figures, de termined by him, are supported by value. ' v Norman B. Gray, examiner for the Federal Power Commission, who is hearing the case, admitted into the record six weeks ago tes timony of witnesses tending to prove values as claimed by the company to actually exist at the time the present Carolina Power and Light Company was formed in 1926. Aids In Defense L. V. Sutton, president and gen eral manager, testified in the first) week of the hearing, which start- j ed July 21, that the creation of the present Carolina Power and Light Company in 1926, when a num ber of utilities were consolidated, has proved "particularly valuable to national defense as well as to our customers." Allen's Creek News Mrs. Charles L. Pruett. Mr. and Mrs. Ray Belt and Mrs. Edith Sisk spent a few days in Gastonia and Fort Mills last week. Private Dock Mull, of Fort Jack son, is spending this week with Mr. and Mrs. Lloyd Mull. Vance Muse has almost com pleted serveral hundred-dollar ad dition to his store on Allen's Creek. The B. Y. P. U. class of the Aliens Creek Baptist church made a trip through the Park recently. Mr. and Mrs. Earl Justice and son, Billy, of Canton, spent Sun day with Mr. and Mrs. Milburn Rogers. A large crowd attended the dec oration at Caney Fork on Sun day.' ; Mr. and Mrs. H. R. Moody, Fred Boone Moody, Mrs. Homer Pruitt and Mr. and Mrs. Bill Taylor and daughter attended the Howell re union on Jonathan Creek on Sun day. " Mrs. Martha Hensley, of Spin dale, who has been spending a few weeks with relatives, left for her home where she will resume her work there. NOTICE OF SALE NORTH CAROLINA, HAYWOOD COUNTY. The undersigned, Executors of the Estate of W. F. McCrary, De ceased, under and by virtue of the power of sale contained in the Will of the said W. F, McCrary, De ceased, the undersigned Executors, will on Monday, October 6th, 1941, at 11 o'clock A. M., at the Court House door in the Town of Waynes ville, North Carolina, offer for sale to the highest bidder for cash the following described land: Sit uated, lying and being in Fines Creek Tqwnship, Haywood County, JJ. C., and known as part of the Sis Brown Tract, and bounaea as follows: Beginning on a spruce ' Tine, C. B. McCrary's corner, on Wilkin's Fork of Fines Creek and Mnrth n 10 iBast 57 feet to the -center of Road, corner of School house lot, thence North 88-dU East with road 255.7 feet to a stake; thence North 1.45 East 216 feet to pine on watershed of ridge; thence North 22 East 85 feet, 4orth 15-30 West with watershed of ridge 110 feet, North 23-30 West 19a fet North 10.00 West 224 feet to a flint rock; thence North 33-30 West 122 feet to a stake on water shed of ridge; thence North 23-39 T?f koo f.t to (noolar gone) walnut? thence South 81-21 East 1217 feet to a stake, stake in f.t Smith 81-21 East of large oak stump; thence South 2-15 East 950 feet with fence to a siaKe; h.nM South 86 West 85 feet I South 49 West 98 feet, South 70-15 West 61 feet to a stafce m private road; thence N. 10-30 West 85 feet a taVa in the nrivate road; thence North 10-30 West 85 feet to a stake m center ol roaa; wence -oU nd No. 209. South 83 West 1066 feet to a stake in said road; thence South 0.10 West 57 feet to a stake; thence South 88-30 Wet 255.7 feet to the beginning. Containing 34.32 acres, more or less This the 4th day of August, 1941. . CHARLES B. McUKAKX, W. JENNINGS McCRARY, t? r.nm.E McCRARY. (Sureliraa (Piw 4 We recently mailed to our stockholders our Annual Report for 1940. Believing that certain of the infor mation contained in that report is of general inter est, we submit this brief summary. IS ill faipiy POKT YOU When the original Carolina Power & Light Company was organized in 1908 it supplied electric servic. t 1,100 customers in four small town, and operated a street railway system in one of those towns. Ia April, 1926. the old Carolina Company was consolidated with four affiliated companies to form the present Carolina Power & Light Company. By the end of that year the new company was serving 58,541 customers. During the next fourteen years, or at the end of 1940. the number of customers receiving electric service from th. company had grown to more than 119,000. From a total generating capacity of about 4,750 horsepower of the old company in 1908, the present com pany's ability to serve, through its own generating facilities and power purchase contracts, had increased by the end of 1940 to 425,000 horsepower. The transmission system of the company is interconnected at fourteen points with systems of adjacent power companies; including the Tennessee Valley Authority. All these interconnections are aai'He for emergency service. ' The company's policies are based on the belief that continued success depends upon ti9 rcco7ii hn of its responsibilities to customers, employees, and security holders. Consequently, it hcs er.aavored to pro vide first-class service at low cost, to become a good citizen in each community it serves, to promote the welfare of its employees, and to pay a fair return to those who have invested in th c OVER 11 9,000 CUSTOMERS IN URBAN AND RURAL AREAS At the end of 1940 the Carolina Power & Light Company was serving 119,270 electric customers, or more than twice the number served after the organization of the new company in 1926. These customers are located in 288 different com munities and in adjacent rural areas, They represent all classes of users, Do mestic, Commercial, Industrial, Farm, Government, and Municipal. In addition to the expansion mentioned above, to serve this increase in customers necessi tated an iTrr.e in miles of line from 2,869 in 1926, to 9,536 miles in 1940. $8,500,000 CONSTRUCTION PROGRAM GETS UNDER WAY In anticipation of future increased demands occasioned by the natural growth of the territory and the National Defense Program, a building program was launched in 1940 which included two generating units of 40,000 horsepower each to be added to the Cape Fear steam electric generating station, four new 110,000-volt transmission lines in North Carolina and two such lines in South CaroMna. The generating units are scheduled to be ready for service in 1942 one in April and the other in August. Some of the transmission lines have been completed p 'ready others are under construction. , PRICE OF ELECTRICITY AGAIN REDUCED IN DECEMBER. 1940 Tuvvard the end of 1940 a rate reduction became effective which was esti in ted to save r custom g SifcH.OOO a ear based on the use during the twelve month previous. The coinpuny has inVde since April, 1926, rate reductions which are jiving electric customers savings at the rate Of more than $4,000,000 annually. "' V $2,300,491 PAID TO E M PLOY EES DURING 1 940 At the close of 1840 the company had a total of 1,423 regular employees who sbred with the management a keen sense of responsibility to our oustomers. During the year our total py roll amounted to $2,300,491. Since the creation of the new company in 1826, the Carolina Power & Light Company's pay roll has amounted to a total of more than $28,000,000. ; Inasmuch at our employees at local jitiient, prwdoally all of this impressive amount was spent la the territory served. .;;' A DOLLAR'S WORTH OF ELECTRICITY IN 1925 AND NOW THREE DOLLAR S WORTH OF ELECTRICITY IN 1925 AND NOW :'. f .' v' . :: ; . j . . : 86KWH J !..., th $J- -'Wfj ' . buying powcf . A 'f Jnf ".-'.- e( th Reti- . I eUntiel Electric - I .f i C.lof' '','.'.;. . n . dollar iic CS----- -rr rfij. 1923 reflect. I fj the lubrtentitl I I . ; rttc reductions I I . . . ' ,l 'i ' . oiJtbylh. flj ' ' 1 ; eompiny. . , mOfe- 25 Kmi 2Tt -, 13 9 5 O F A PPLIANCE SALE S MADE BY ELECTR I C A L DEALEi S The company's established program of active co-operation with appliance dealers in the matter of electrical equipment sales was continued in 1940. Sales of electric appliances by the company and dealers during the year amounted to approximately $7,377,000. Ninety-five per cent of such sales were made by -dealers.- -:' .:'-'. CO-OP ERATI V E M E A SURE b FOR N AT I O NAL DE FENS E The present national emergency has brought about many new dmandi fr the company's electric service, some of which will continue durtag tvs pr'od only. However, due to the company's policy of anticipating ()- in ad vance, it has been able to supply these increased needs. Nam.cus industries located throughout the territory served are engagel in 'ho production of de fense materials and are operating on a 24 hour pw dvWs. The principal National Defense project served is Fort Bragg. Also, the company is furWshinf a neighboring utility with a large amount of power to serve sMpyrdi, army and marine bases. In addition, a vital clelense industry, not looatoi within company's territory, is receiving full co-Operation in its power requirements. The company is always ready with its lailiies and its manpower to o-p-erate with its oustomers and governmental authorities in meeting regular de mands for electrie service and in tolving new power proWenu as they arise. PREFERRED STOCK DIVIDENDS BENEFIT TERRITORY SERVED In 1940 th company paid regular quarterly dividends to Its 8,600 holders of preferred stock. Sine about 6,600, or mor than throo-fourths ol tho total number oh the company's preferred stock , ' holders reside In North Carolina and South Carolina, such dividend payments represented a decided stimulus to business generally in the territory served. - a i. cnui Seeretary and Treasurar Kalelgft, Nor Carolina K. 1MB HXH TtaaMeAt, AaWrtua Oov Cats Cmtftmr - : Athevula, Kartt CaroUna JABOS L. KeNAIB InttsetrlalM LMrintMUA Met Oaraliaa u v. lunoif TtrnUmi sa4 Oanaral MaBasjet r W. H. W1ATHEBWOOIC Vlca rrssMael sad Oenenl Caeemt 'Pkactots IT. 8QTTON rnaldest aed Oeaeral Maoaf ar ' . Btfaifk, Nartt OareUaa r a 8. WAUBI Vke-rresldeal Bfanafer Waaccni DivWoe AMbmW, Ntrtfc CaceUoe W. B. WIAXH0MWOON , Vtoa-Praddaar and General OowbmI C I. WALRBJ TTso-rrisHeal a X. OtMT CAROLINA POWER & tt.utors of W. F. McCrary, No. 1107 Sept. 11-18-25-Oct. 2
The Waynesville Mountaineer (Waynesville, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 11, 1941, edition 1
10
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