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About The Ontario Argus. (Ontario, Or.) 1???-1947 | View Entire Issue (Aug. 19, 1920)
THK ON'TA.MO AI?.US, ONTARIO, QHKCJON, TllMSDAV. AUGUST 19,' 1920. I v Would You Invest YOUR Money At 2 INTEREST During the year of 3910 the Common Stock of tlic; Idaho Com ' pany earned only 2. One-half of this was placed in a necessary . surplus fund, and the other 3 was paid to the owners of the company's Common Stock, in dividends. The average person is likely to think of the owners of any largo company as rich individuals who would he better off without so much money. Do you realize that over half of tjic stockholders of the Idaho Power Company are small investors people who are earning a living by hard work' And, in many cases, their investment represents the savings of years, THIS QUESTION MUST HE DECIDED Aren't all these people entitled to a reasonable return on the money they have saved and invested? The state law says that they are; yet, under present conditions, the owners of Idaho Power Company Common Stock are receiving only 1 a year on thtfir investment. ALMOST 25 MILLION DOLLARS INVESTED This eompany serves more than 31,000 customers, scattered over an extensive territory in Southern Idaho and Eastern Ore gon. It operates 10 groat generating plants, and maintains 1,8.'H5 miles of transmission and distributing pole lines, besides the many sub-stations and other equipment which are. required to furnish 100 service. All this property and equipment represents an actual investment value of approximately 25 million dollars. Of this amount the company owes 0,800,000 in the form of notes and bonds. There is $1,100,000 worth of Preferred Stock, sold to secure money for development, and on which a fixed rate of interest must be paid. Then there is $15,000,000 worth of Com mon Stock representing the investment of a great number of in dividuals. THINK uF WHAT THIS MEANS Moro Is n system that costs 2S million dollars, furnishing a. service which I absolutely necessary to (be development of the state, It Is . , tlio proporty of a great number of people who aro entitled to a ieiiiiub!o dividend on (tilb IiiuIiiibiiI, just ns surely as the crucer Is entitled to a ruasonublo profit from his store, or tho land owner a roasonuble profit from his land. Yet, In 1810, when our earnings wero tho largest In the history of tho company, tho Common Stock dividend amounted to only 17 luterest on tho money Invested and It was Impossible to pay auy moro. LET US SHOW YOU WHY The Idaho Power Company is required by law to givo 100 service to its customers. This means that its entire system must constantly be maintained in first class condition. It means that a large sum of money must bo spent annually in order to keep all equipment up to requirements. Now the state also regulates the rates that tins companv can charge, and the law distinctly states that these rates should' be sufficient to provide for maintenance and replacement and for a fair return on tho money actually in vested in the company. NOW, HERE'S AN IMPORTANT POINT Before the stock holders can receive a cent of dividends, the cost of maintaining 100 service must be paid out of the earnings of the company. Then interest must be paid on the notes and bonds outstanding; 7 interest must be paid on all Preferred Stock, a fund for replacement must be provided; and what is left may then bo divided among the Common Stock owners. This system of distribution is all light. The only trouble is that, under the present rates, there is practically nothing left to divide among the owners of Common Stock. STUDY THESE FIGURES The following figures cover the distribution of our Income during the year of 1919:. Total Incomo for 1910 .' 11,881,3(9 Operating expense 1709,136 . Taxes 224,769 933,891 ' llslanco after paying operating expenses aud taxes 8 947,464 Interest owed on bonds end notes 461, 238 This leaves 'a balance of 486,228 Dividends paid on Preferred Stock 61,220 Set aside to provide for replacement ot property..,, 126,000 Ualance left to pay returns on 816,000,000 worth of Common Stock 8 300,008 Figure tbU out for yourself and you will find that It represent only 2 earnings oh the Investment. Ask the banks what they ru cliai-glnx for thq us of mewrj' today. , In the table we Just presented to you, notice the item marked, "Set aside to provldu far replacement ot property," Such r. fund is absolutely necessary, for all equipment wears out sooner or later, and must be replaced If the company Is to crntlnue to operate The Public Utilities Commission declared that 1180,000 could be allowed each year to provide for replacement Notice that we are able to allow ouly 8126.000. Ami, In spite of our cutting down o:i lhi' Item, we were able to p.iy 1', on the Outuon Stock, HAVE YOU THOUGHT OK THIS? No matter how much the business of this compar.r c vs In the f-mr Its mrn ' iiirr chii never be Ircreased sufficiently to make j, fur iho lean ytttr Th rates will always be regulated by the law so that the company will never receive more tli.iu the I n co n ii ullo.ved for each current year, aid will h-ive no ensue to uiik .up former losses. Now, it is true that, by the action of the Public Utilities Commission on June S 1920, the Idaho Power Company was granted an incroase of 10 in Its rates, with the exception of cooking and heating charged. This Increase was regarded as an emergency measure and is totally Inadequate to meet, the legitimate needs of ths company. In building up its great system, the Idaho Power Company has worked for Us development of the country as diligently as for its own welfare, Dut we put tk)s question to you fairly: Is It right to ask our stockholders to continue to use their money for this purpose without receiving a fair rate of interest on that money? Prctcnt conditions liavu forced us to ask the Public Utilities Commission to allow us an Increase In rates, and It is our purpose to placo the cards fairly on the table and akk you, our customers, whether we are not entitled to It, Idaho Power Company wmmmmmmmmMmmmMmmmmmmmmMmm I 173,911 LISTED AS DESERTERS Washington. Less than 1 per cent of more than 24,000,000 men register ed under the draft during the war have been found chargeable with wil ful desertion, tho war department an nounced. The total against whom de sertion charges have been recorded Is 173,911, representing, the statement says, "a tremendous Improvement over tho druft record of tho civil war," The department soon will announce those branded ns deserters and the statement adds that tho government "desires to obtain cooperation of statu . .. -TTSTSTTTrf?".1... ..HL jiiimmwii i imimii h miiIiii ii ij ! i I boon very courteous nnd havo dono , performance Is well worth the inoih- everythlng in their power to muUo oy. .their stuy hero one to bo romembcr cd, not with a feeling of dtssatlsfuc- lion but tho thought that thoy hnva put up a clean nnd honorable show. I Thero are several splendid uttntc tlons tho feature of which Is their two ring circus. This Is entirely an an'mal show nnd the horses, dogs aud montefcys are highly trained Ths Foloy nnd Uurk shows will Wa In Ontario for six dun and nights commencing Monday, August, the 23. Mrs. Clnronco Johnson and daugh ter, Joscphlno, returned Sunday from Portland where they have been visit lug the past month with Mrs. John son's parents, Mr. and Mrs. O. W, Tl,0(l,ong. 444444't4-i4-t44fJi V and other agencies, Including the de partment ot Justice, In bringing about their apprehension." Pending tho publication, the state ment continues, any man charged with desertion may avoid arrest by surren dering at any army post. If his record Is cleared, his name will be omitted from the deserter list. Those In doubt as to their status are urged to Inquire of the adjutant-general. BRIEF GENERAL NEWS Tho population of the state of In diana Is 2,930,644, This Is an Increase since 1910 of 229,668, or 8.S per cent. Now Hampshire has a population of 443,083, an Increase of 12,511, or 2.9 pr cent since 1910. . The Chicago Federation of Labor adopted a rrsolutlou demanding a gen eral strike of workers it the United States gives military aid to Polaud, The lord mayor of -Cork, Irelsud, and ten associates were Arrested while attending a snmlon ot the Slim Fein court In the city hall. They wrri takeu to ths military burrs. As, Miss Anne Martin has filed tier pe tition of nomination as nit Independent candidate for the United Status senate from Nevada. Canada's 1020 wheat crop was esti mated by officials of the Canadian ag riculture department at 262,338,000 bushels as compared with the fluid estimate of 193,260,000 bushels last year. The Tennessee senate by a vote uf 26 to 4 adopted tho resolution provid ing for ratification ot the federal suf frage amendment. T I). Me res of Wtlmlngtou, N, C, was reelected suprsmu master of the exchequer at the biennial convention of the Knights of Pythias, In Minne apolis, and the convention named Wit Ham ladeu of New York city supreme chancellor and George C. Cabell of Virginia vice chancellor. Shipping Board Announcsa Bale Plans. Washington Plans for the sale of merohant vessels ti:w owned by the United States shipping board ami their operation by private owners wero an nounced by Hear Admiral Ilensoii, chairman of ths board, In a state ment of policy In accordance with "the provisions of the Jones shipping act." The vessels owned by the board, and which ar.o to be disposed of to cltlxons cf the United States, are valued at ap proximately 83,000,000,000. Csntu Is Ready to Quit Mexico City. Rstobsn Csntu, gov ernor of Lower California, who has been leading an Insutrectlon against the federal government, has ugrsed to surrender office to I.uls M. Snluisr receutly appointed govoruor by provl slonal President de la llherta, Rise In Express Rates Granted! Washington. Authority to Increase express rates 12H per vent was grsul ed the American Hallway Express com pany by tho Interstate commerce com xalsslon. FOI.KY AND IlUnK CO.MIU.NKl SHOWS COMING MONDAY The Foley and Ilurk combined shows which are coming to Ontario for six days and (lights are clean shows according to the following, taken from Idaho Free Press dated Friday August 13, 1920 when ths Foley and Ilurk Shows played there "Nam pa in tho past has been the mecca for several road shows whose utmost purpose has been to rob the citizens and give them In return as little as possible, this, however, can not be said of the Foley and Ilurk shows now playing this city. The have gathered together a company of high class entertalnurs, while th booths are offering merchandise far above the rank heretofore the custom with carnival companies. Thousands of people are crowd ing the grounds and the most fa vorable comments are heard. This company Is playing Nampa under 'an entirely new plan. The proposi tion Is simply this: A percentage swelling the fund for tho children's 'play ground here In Nampa which Is jthus far have been very encouraging and It Is hoped that to night and to morrow night will go way beyond the expectations of the committee In t charge of the grounds. Messrs. Foley and Ilurk have Chiropractic is a Drugess Method ii aesires to obtain cooperation of statu .r r ji r J T '' nd local official., patriotic .od.tie. of Removing the Cause of Disease : : Ami nthnr nffnnnlnit. InrtntKnt? ftti Ho. T ' ToHe ToTTiroot TbUppor Limbs To Heart X ToLunrf TbSfomoch lb Liver ToKidneua ToOvarios To Bowels ToAppendbc IbLowerLimhs To Bladder"- To Genitals iMiKf Ql p I i. r6jcVirr Ji.wA T?yJRi3Tl?J JMfSi2!W3$t J8K WOSi It Is based upon the the ory that nerve pressure caused h y subluxateil vortebrae Is th primary cause ot dtscaso or the continuation ot disease. Spinal adjustment re moves the nerve pressure by re storing the verte brae to normal position. The re sult Is hoalth to the diseased or gans or parU. Many are find ing health thru O h 1 r o p r a ctle Spinal adjust ment whore all other methods have failed. Chlropractlo Is especially good for the com plalnta ot child ren We will be glad to explain Chlropractlo to you. Consulta tion free. DR. R. A. MOON, D. C. Phono 158 Over Post Office Ontario, Ore. 99iiiti'tmQttt4i'Hi&t , Ontario Transfer & Storage Gompany Long Distance and Phsne 1 SO Local Hauling llcaiiuartirs White Lunch Cafo ONTARIO, OREGON A Round Roof Barn For Your Farm IT WILL PAY YOIT TO INVESTIGATE THE Noise Payette Hound Hoof Hani before you build your now barn this fall. You will find that it suits the needs of your farm exactly, And you will also find that we can save you considerable money hi building. Tho Hound Hoof construction docs away with the necessity for heavy timbers and braces. This 'lowers the cost of building and at tho same time gives you more storago space for hay or other crops. PJiANNHD i:SPKCIAMV TO FIT YOUIt NKKDfl We are prepared to furnish you plans and specifications for a Hound Hoof Darn specially fitted to your needs- uy size yon want. We huve drawn these plans with the Idea ot giving you a staunch, permauent structure, wltk lbs greatest economy of material. OOMIJ IN AND IXK)K THINK PI.ANS OVKK THIS NKItVICK COSTS YOU NOTHING. AL CHANCE, Sales Manager Boise Payette Lumber Co. I V I s