Project No.. 309-Continued. Items questioned-Continued. 4. Services securing contract with Penn Public Serv- To purchase output of plant To guarantee payment of principal and in- Total charges by H. D. Walbridge & Co for Charges by General Construction Corpora- 6. Fee for general engineering and supervision (paid 7. Unidentified item apparently included in balance Total charges by General Construction Cor- Total__. * * * Administrative action taken: Joint examination of project accounts and records made in 1925, by accountants for Public Service Commission of Pennsylvania and Federal Power Commission. * * * Access to certain records refused by H. D. Walbridge & Co. * * * Report submitted by auditors. Control of licensee corporation passed to Associated Gas & Electric Co. * * * New owners upon request submitted informal claim for project investment and promised access to all pertinent records. Accounts and records again examined by auditor for Federal Power Commission in 1927, but necessary records for verification of claim were not produced. * * Another report submitted by auditor. * * * Request now pending with licensee for formal sworn statement of actual legitimate investment in project, with details and reference to couvhers and other evidence of cost. * Project No. 485: States of Georgia and Alabama. Cost of original project. Licensee or applicant, Columbus Electric & Power Co. (Bartletts Ferry project): Total claimed.. Items questioned 1. Interest on cost of lands and legal expenses to Dec. 2. Interest on cost of investigations, surveys, etc., re- Less interest at 6 per cent per annum from May 1, Total interest deductions on account of land__ $300, 000. 00 200, 000. 00 394, 102. 80 2, 214, 000. 00 2, 550, 000. 00 44, 736. 81 2, 594, 736. 81 5, 259, 736. 81 7,688, 544. 12 177, 753. 00 11, 154. 00 188, 907. 00 8, 348. 24 180, 558. 76 Project No. 485-Continued. 3. Taxes on land acquired prior to Dec. 31, 1924... Total.. Administrative action taken: Accounts and records examined and accounting report served on licensee. Protest filed by licensee. Application for intervention filed by Stone & Webster. Hearing requested but no date for hearing fixed as yet. Project No. 389: State of Kentucky. Preliminary cost of project. Licensee or applicant, Cumberland Hydro-Electric Power Co. (Cumberland Falls project): Total claimed... Items questioned 1. Obligation of Cumberland River Power Co. under article 6 (a) of agreement of Oct. 12, 1925, to Total... Administrative action taken: Accounting report and solicitor's opinions Nos. 1, 2, and 4, served on applicant Aug. 5 and 9, 1929. Further action deferred awaiting opinion by Attorney General on certain legal questions. Project No. 324: State of Missouri. Preliminary cost. censee or applicant, the Empire District Electric Co. (Table Rock project): Total claimed.. Items questioned $6, 232. 00 459, 249. 55 646, 040. 31 921, 163. 57 250,000 250,000 500, 000 Li 290, 725. 47 1. Overhead expense of the Empire District Electric 2. Taxes paid on lands acquired for the Table Rock 3. Interest on actual expenditures prior to beginning 4. Preliminary engineering fees of Henry L. Doherty Administrative action taken: Applicant's claim investigated, conferences had with its representatives, accounting report served on applicant, to which protest has been filed and hearing requested. No date fixed for hearing as yet. 28, 260. 00 1, 924. 87 29, 825. 08 22, 309. 07 82, 319. 02 Project No. 516: State of South Carolina. Prelicense cost. Shoals project): Total claimed... Items questioned 1. Organization expenses Arbitrary payment to W. S. Barstow & Co. for $1, 249, 470. 22 150, 000. 00 Arbitrary payment to Murray & Flood, for 150, 000. 00 Cost of acquiring_water-power site on Saluda 135, 000. 00 435, 000. 00 2. Engineering and superintendence, refund by Murray 3. Interest during construction-interest on notes to Total_ Administrative action taken: Accounts and records examined and copy of accounting report served on licensee. › Protest to proposed eliminations filed by licensee and hearing requested. No date for hearing fixed as yet. Project No. 346: State of Minnesota. Cost of original project. Name of licensee or applicant, Minnesota Power & Light Co. (formerly Pike Rapids Power Co.) (Blanchard Rapids projetc): Total claimed.. Items questioned 1. Prelicense cost Claimed by licensee.. Approved by accounting division. Difference recommended for disallowance. __ 2. Discount on sale of 7 per cent 5-year notes__ Funds for construction were obtained from 10, 999. 98 10, 007. 14 456, 007. 12 3, 451, 175. 25 388, 004. 00 181, 235. 93 206, 768. 07 306, 000. 00 164, 057. 01 Project No. 346—Continued. 3. Construction fee paid Phoenix Utility Co... Phoenix Utility Co. is assumed to be owned 4. Other items, aggregating half a million dollars or more Administrative action taken: In 1928 the books and Project No. 16: State of New York. $92, 289. 97 Valuation of old plants. 80, 534, 130. 46 Licensee or applicant, the Niagara Falls Power Co. Licensee's appraisal based on reproduction costs as of Organization Promotion and preliminary investigation_ Franchises, patent rights, and licenses.. Miscellaneous intangible capital: Deficit in return during development_. Total intangible property Tangible fixed capital: Land__ Structures, equipment, and facilities... 1, 265, 541. 00 29, 925, 432. 80 Overhead costs and other undistributed items: Law expenditures during construction _ -- Interest during construction__ Miscellaneous construction expenditures-Salaries of officers and clerks, miscellaneous office expenses, 31, 190, 973. 80 1, 917, 059. 00 99, 973. 00 100, 201. 00 1, 159, 925. 39 4, 406, 368. 87 1, 034, 806. 85 Total of plant properties---. 8, 718, 334. 11 45, 671, 451. 54 Project No. 16-Continued. Grand total__. Administrative action taken: Inventory of property has been checked and prices for labor and material investigated to a certain extent. Attempt made to ascertain original or historical cost but licensee refused access to books and records of constituent companies consolidated and merged in October, 1918, to form present company. No definite action since that time, which was in 1922 or 1923. Project No. 16: State of New York. Accounting since license was issued. Licensee or applicant, the Niagara Falls Power Co.: $2,862, 678. 92 32, 000, 000. 00 80, 534, 130. 46 Total construction accounts involved (to Dec. 31, 1925) 27, 000, 000, 00 Items questioned Items 1 to 13, inclusive-Buildings, structures, equipment, etc., of hydraulic station No. 2, that have been either 1. Power House No. 2, appraised value... 156, 073. 37 2. Flumes, forebays, gates and tailraces, appraised 162, 073. 37 10. Steel elevator tower and bridge, appraised value ___ 13, 858. 28 6, 986. 39 11. Structure 2-F, appraised value.......... No retirements recorded. 12. Cliff development, appraised value......... No retirements recorded. 13. Cliff facing, appraised value.. No retirements recorded. 14. Building 38, inlet gatehouse station 3A. The Although its walls, roof, floor, framing, par- 15. Building 39, ice-run gatehouse. The American 481, 468. 05 82, 765. 63 49, 509. 88 31, 467. 40 |