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12/18/42
"My observation has been that the ^'^ederal Government has never operated successfully, from a financial standpoing, a single activity of this character. In the program of resettlement pro¬ jects, vast losses have occurred, and even now the loss in the oper¬ ation of these orojects above the income is ^1,600,000 annually.
The same condition will result after the war if the G-overnment undertakes to operate hotels and similar activities.
"It is difficult, and indeed it is rare, for the Govern¬ ment to sell land and other property it purchases.
"It seems to me it would be far better to pay a rental for such properties, and you already have the power to commandeer properties of this nature on a rental basis rather than making dir¬ ect purchase. * * *
"I would thank you very much to give me an itemized state¬ ment of all purchases made by the War Department of hotels and buildings of similar character, giving the cost to the Government, the appraised value, and all other details. "
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A. T, & T. LONG LINES HEARINGS ADJOURN TO JAN. 20
After a two-da,y curtain raiser, the investigation which the ^deral Communications Commission started of the long-lines rates of the American 'T’elephone and T’ele graph Company, has been adjourned to Wednesday, January 20th, The sessions also marked what is probably the swan song of Price Administrator Leon Henderson who resigned a few days later, Mr. Henderson petitioned for and was granted intervention in the proceedings, asserting that a reduc¬ tion in long distance telephone rates would aid his price-control program. His petition called attention to the FCC order putting alleged earnings by A. T. & T. at 14.92 to 24,37 percent on its Investment in telephone assets devoted to long line service and he said "reduction of prices where profits are excessive is an integral part of national policy of economic stabilization, "
Just how enthusiastically Mr. Henderson's move will be followed up by his successor remains to be seen,
Harry A. Livermore of New York, chief statistician of the Long Lines Department received approximately 68 percent of the revenues from toll rates while associated companies got 29 percent and Independent and foreign companies 3 percent, Mr. Livermore estimated that the Department’s routes covered 50,000 miles in the United States, while associated companies’ lines covered 172,000 mile s.
Mr. M. R. Sullivan, operating Vice President of A. T. & T.. testified consideration was being given to the need of revising the division of revenues.
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