THE STATE
Page Twenty-five
January 20, 1934
Some Facts About Public Utilities
Along with publicity which is being
given the public utilities companies of
North Carolina at the present time,
it is interesting to note the status of
these utilities from a national stand¬
point as learned from 1932 census
figures.
The fixed capital assets of the pri¬
vately-owned light and power industry
are $14,870,420,692, the capitalization
is $6,678,761,901 in long-term debt and
$6,985,848,539 in stocks, a total of
$13,616,610,440, and the reserves ag¬
gregate $1,381,566,874.
“The fixed capital of all the muni¬
cipal utilities is $613,075,599, their
long-term debt $208,975,676, their cash
investment $250,319,787, and their re¬
serves $91,947,532. These figures give
a very positive idea of the relative
national magnitude and importance of
the private and municipal properties
in this country, with especial emphasis
upon the number and magnitude of
stockholders and bondholders interest¬
ed in the industry.
“The average price per kilowatt-
hour for all energy sold by the private¬
ly-owned utilities is 2.7 cents; of the
municipal plants 3.1 cents. The pri¬
vate utilities serve 596,692 farm cus¬
tomers and charge them an average
rate of 2.S cents per kilowatt-hour.
The municipal plants serve 21,061
farm customers and charge them an
average rate of 5.6 cents per kilowatt-
hour.’'
It is said that 17,337,876 domestic
customers of private utilities pay an
average rate of 5.6 cents per kilowatt
hour, while an average rate of 4.7
cents is paid by 1,947,684 domestic
customers of municipal plants.
“Is this an odious comparison to
make with light and power companies
which serve many more rural and
small-use apartment house customers”
the article asks, “in proportion to the
total number of customers and in gen¬
eral have a greater relative investment
because of a predominance of under¬
ground systems and extended transmis¬
sion lines?”
These census data nre very signifi¬
cant. They show the contrasting serv¬
ice and cost conditions for large util¬
ities serving widely extended geograph¬
ical areas as contrasted with municipal
utilities serving small but concentrated
communities.
"These data, plus an understanding
of the business, point to no discredit¬
ing: facte for either private or munici¬
pal utilities. Roth nre doing the same
work and both arrive at a balanced
business position as a result of facing
economic facts with the idea of 'level-
oping and expanding their business.
Above all, these data show that the
private utilitiy business as a whole is
conservative yet progressive. It in¬
vests wisely and charges for its service
in accord with investments and market
conditions. There is no evidence of
exploitation or of over-capitalization.
Historic Site Will Be State Shrine
Three and one-half centuries ago.
colonists sent out by Sir Walter Ra¬
leigh planted the first English settle¬
ment on American soil at Fort Raleigh
on Roanoke Island in Dare County.
During the centuries that have
elapsed scant recognition has been
given to this outstanding landmark in
the establishment of a Nation that has
come to play a leading part in the af¬
fairs of the world.
At last the pages of history are to
be turned back, and the ancient shrine
is to be restored, according to the most
precise records available. This will
include not only a reproduction of the
old fort but will involve the rebuild¬
ing of what early chroniclers have
termed the “City of Raleigh,” built
under direct charter from Queen Eliz¬
abeth.
The enterprise was made possible
through the approval of Mrs. Thomas
O'Berry, State Administrator of Civil
Works, of a project calling for the ex¬
penditure of $20,000 on the work. It
was sponsored by the State Depart¬
ment of Conservation and Development
and the North Carolina Coastal Com¬
mission. consisting «f Frank Stick, of
Manteo and Elizabeth City; R. Bruce
Etheridge, director of the conservation
department; and
К.
R. .lefFress, chair¬
man of the State Highway and Pub¬
lic Works Commission. Gov. I. C. R.
Ehringhaua has given efforts to bring
about tbe project his keen interest and
whole-hearted cooperation. Through
his appointment, the State Coastal
Commission came into being.
Another group, the Roanoke Colony
Memorial Association, made the pro¬
ject possible by deeding the site, a
tract of about 1C.5 acres, to the State
in the name of the North Carolina His¬
torical Commission. Mr. Stick, one of
the originators of the idea of recon¬
struction and upon whose shoulders
much of the details of bringing it to
a point of beginning has rested, will
be tbe supervisor. A. R. Newsome,
secretary of tbe State Historical Com¬
mission, will advise in the construc¬
tion. The work of restoration will Ik*
under the general direction of the De¬
partment of Conservation and Devel¬
opment which, it is contemplated, will
also have charge of its administration
for the historical commission.
Officers and directors of the Roanoke
Colony Memorial Association, through
whose generosity the site was deeded
as a gift to the State are Alex B. An¬
drews, of Raleigh, president; Dr.
R. R. Drane, of Hillsboro, vice presi¬
dent; W. I). Prude», of Edenton, sec¬
retary; Frank Wood and Mrs. W. A.
Graham, of Edenton.
Construction was launced on Jan¬
uary 12, the next «lay after the deed
was passed. The entire area of 16.5
acres will lie enclose-! by a high palis¬
ade of cedar logs with gateways and
Ыо«*к
houses. Several bouses, typical
of the day. a museum t«i house relics
of the settlement, a small chapel and
other structures will complete the resto¬
ration. Ballast stones dumped from
the ships bringing the original colon¬
ists will be used ns foundations for
the buildings.
It is the -hope of developers of the
project that the restored “City of Ra¬
leigh” may be taken over in the future
by tbe federal government
«8
a Na¬
tional Monument forming a part of
the proposed great coastal project
which includes the creation of a Na¬
tional Forest on “tbe banks” and to
which the National Monument at Kill
Devil Hill, the birthplace of modern
aviation, will be added. Plans for the
major development are U-ing pushe«l
and it is hoped that tin* first work may
Ik* underway within the next few
weeks.
