The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

TT is p March 24 | vised contracts, payment during the same period, including amounts paid . prior to cancellation, wil Itotal $246,-- €28,003. The revised agreements with these three companies accord-- PO['CY Now ingly represent a saving to the people in the Niagara system of I $80,141,142. If the saving under the | 18637 arrangement with the Ottawa | Valley Comparny and the new con-- SAYS HO U CK tract with Gatineau in Eastern On-- ; tario is included, the total saving ' achieved in the southern section of : Mn t the Province under Liberal manage-- * } ment, due to the Liberal Govern-- But Back to Niagara When ment's Hydro policy, is $92,658,084. We Can, He Tells "While this saving is a large one c and in itsel fa matter of _ great Legushfure satisfoction to the Commission and e mt ie ie errseetect Government, it is an aggregate figure and not at all indicative of OUTLINES NEW PACTS the moret immediate advantages of the readjustment. More important than the reduction of the quantities The power policy of Hydro and to be taken is that deliveries of the the Hepburn Government was still various blocks of power in both "back--to--Niagara"--"and we'll . go systems are projected further into back to Niagara, if and when we | the future. Under the original con-- can," Acting Chairman W. L. tracts the Commission would now H(?Ll('k of the Provincta[ Power C0m° ' be accepting 791,000 horsepower. mission .|old the Legislature yes-- | Actually the greatest amount we i the Govermnent bil vaindeting _ i1 Soh.00) nersepaiwe." Under the new, | 566, orsepower. Under the new thf new Quebec power contracts. contracts the full delivery of 766,000 Dolfi'; i'??baTi?n::n(Tl'wa;al:o"t}:r" ao:t: hm'fi?pmtfir. ".i-" por obtain until Puote line chagin with whith the | Arfoms "wil abrofe in s thiie pposition greets the very effective | ¥ i f f way in which that policy is being | ?{:822" provided expansion con. fulfilled." * "In -- & A number of objectionable {fea-- sflalzn '1"'1;8-';;0[:'?:0 fl'lf ;h' winter tures embodied in the original Que-- cess of dgene d'hlm e an x: bec agreements and in the tem-- . ab ,Pp"'}"' a eh"'"""'-'- over porary settlement which followed "_n.n" ";" the probable hf'-" pro-- cancellation had been eliminated in ;'5' :,; of some 144,000 horsepower. | the --present readjustment, _ Mr. n 1939 this excess will reduce to | Houck stated. "Under the original 120,000 horsepower, in 1940 10 50,000 agreements," said he, "provision horsepower, and in 1941 the excess was made that the compsznies should will am:um only to 3,00 horsepower. | be indemnified for any increase in By 1942, providing demand contin-- their cost of generation due to in-- ues to fid\'flm'e.at the rate estimated, creases in either Dominion or Pro-- the system will actually be 75,000 vincial taxes. | ::'r'::lr:::i; s'l:'m;t of a probable best jed. | 'ovis mat year. able one--actually placed the power-- | df'm""-"rf"e a critical attitude to-- users of the Niagara System with--| ward this slight and unavoidable in the taxing jurisdiction of both over--purchase, let me point out that the Dominion Government and the d",","¢ the same period under the Quebec Government. Under both original contracts on a similar basis the early revision and this later| of calculation, the over--purchase readjustment this stipulation -- has would be as follows: | |been entirely removed. Now the | 1938 ...... ....... 361,000 h.p. 'Commission assumes responsibility | 1939 @«+r+«*++««++s 285,000 * | for increases in cost due only to| 1040 +«+««+««««+++« 195,000 * }Increases in taxes levelled by the 21941 @«+««« «++«««+ 98,000 * ,, Government of Ontario." | "It has been calculated that the _ Under the revised contracts, said | Niagara System will actually pas | he, the aggregate dellser;y i"' :t_'; | during the yvears from 1938 to 19435 Niagara and La;te(rn "-,;f J0 9 | some $17,000,000 less under the new 't.'?ggoo';oxr':g:oc\:rer Not only so, but | ~| ;?;;,?c;:\ior Deeh _ gane n wiap hn there were grounds for satisfaction : | original cont ":" A paid under 'the * in the reduced price of $12.50 per | previ C eervative . Auminfecrs horsepower under the revised con-- {)io,n.hous onservailve Administra-- tracts, compared with a charge of I $15 per horsepower under the orig-- inal contracts. "Calculations show," said he, "that \the total commitments under the| three original contracts for the Ni--| lazara system made previous to 1934 would have cost the people of the | system $326,167,237. Under the re--