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During the fiscal year ended June 30, 1941, the Commission became a participant in 40 proceedings for the reorganization of 46 corporations with total assets of $135,000,000 and aggregate indebtedness of about $98,000,000. At that date, the Commission was actively engaged in 114 cases, involving 142 corporations with aggregate assets of $1,894,000,000 and total indebtedness of $1,202,000,000. The Commission submitted five advisory reports on reorganization plans to the courts during the year and, in addition, filled four supplementary advisory reports in proceedings where reports previously had been rendered.

The Trust Indenture Act requires that bonds. notes, debentures, and similar securities publicly offered for sale be issued under an indenture which meets satisfactory standards and has been duly qualified with the Commission. The purpose of the act is to bring all indenture trustees up to the high level of diligence and loyalty maintained by

the more conscientious trust institutions, and to place the trustee in a better and more strategic position to protect security holders. There were 74 indentures filled in connection with registration statements which became effective during the past fiscal year. In addition, twenty applications for qualification of indentures covering securities not required to be registered under the Securities Act became effective.

The Investment Company Act of 1940 provides for the registration and regulation of all types of investment trusts and investment companies. The Investment Advisers Act of 1940 provides for the registration with the Commission of individuals or organizations engaged in the investment advisory business. As of June 30, 1941, 436 investment companies with total assets of approximately $2,500,000,000 were registered with the Commission, while 753 investment advisers' registrations were in effect.

United States Tariff Commission

USTC-United States Tariff Commission-Raymond B. Stevens, chairman; Oscar B. Ryder, vice chairman; Edgar B. Brossard and E. Dana Durand, commissioners; E. M. Whitcomb, acting secretary. Address, Washington, D. C. New York office, Custom House.

the findings and recommendations of the Tariff Commission in investigations under this provision of law the President proclaimed quotas on imports of cotton and cotton waste and on wheat and wheat flour. An investigation concerning cotton textiles has not yet been completed.

The act of 1930 was amended in 1934 by the passage of the Trade Agreements Act, which authorizes the President to enter into reciprocal agreements with foreign countries, providing for the reduction of tariffs and other trade barriers. The changes in United States tariff rates permitted under this act are limited to 50 percent of the existing rates.

The United States Tariff Commission was created, tion and Domestic Allotment Act. As a result of by the Revenue Act of 1916. Previously several temporary boards and commissions had been appointed to assemble information on international trade and tariff problems, and the tariff board of 1909-12 had published several factual reports on the wool and cotton schedules. It was in recognition of the need of Congress for such disinterested information on all commodities, that the legislation setting up the Commission in its present form was enacted. Thus, the Commission was established as a factfinding body and though subsequent legislation has augmented its activities, they continue to be primarily investigatory and advisory. Broadly speaking, therefore, it is the expert investigating and advisory body of the Government in the field of international trade, tariffs, and other factors related to international trade policy. The Commission supplies Congress with information on trade, industries, and commodities in connection with subsequent tariff revisions and with other matters related to international trade. Since the increased activity in connection with national defense, the Tariff Commission has cooperated closely with the Office of Production Management, the Office of Price Administration and Civilian Supply and with the various special boards and committees by supplying detailed information with respect to various commodities and their importance in domestic and foreign trade.

The Tariff Acts of 1922 and 1930 increased the functions of the Tariff Commission by enacting the so-called flexible tariff provisions and by directing the Tariff Commission to conduct investigations and initiate remedial action both with respect to unfair practices in the import trade and with respect to discrimination by foreign countries against the commerce of the United States. The flexible tariff provision authorizes the President to adjust tariff rates in accordance with the differences between the cost of production of domestic articles and those of like, or similar, foreign❘ articles. Rate adjustments under the flexible provision are limited to 50 percent increases or decreases of the rates prescribed in the act itself, and the provision does not permit the transfer of articles from the dutiable to the free list or from the free list to the dutiable list. The Tariff Com mission is required to make the investigations regarding domestic and foreign costs of production - incidental to rate adjustments under the flexible provision.

The Tariff Commission is represented on all interdepartment committees concerned with the reciprocal trade agreements program. Agreements have been concluded (as of Oct., 1941) with 22 countries, as follows: Country Belgium Brazil

Canada (2d agreement)

Effective Date

May 1, 1935 January 1, 1936 January 1, 1939 Jan. 1, 1940

Supplemental Canadian agreement
Supplemental Canadian agreement. Dec. 20, 1940
Colombia

Costa Rica

Cuba

Czecho-Slovakial.
Supplemental Cuban agreement.
Ecuador

El Salvador
Finland

May 20, 1936 August 2, 1937 September 3, 1934

.Dec. 23, 1939 April 16, 1938 October 23, 1938

May 31, 1937 November 2, 1936

France, and its colonies, dependencies, and
protectorates other than Morocco June 15, 1936
Great Britain, Newfoundland and
colonies
Guatemala
Haiti
Honduras

January 1, 1939

June 15, 1936 June 3, 1935 March 2, 1936

Netherland

Netherlands, including Netherland India
Netherland Guiana, and
West Indian Islands
Nicaragua2.
Sweden
Switzerland
Turkey
Venezuela
Argentina

February 1, 1936 October 1, 1936 August 5, 1935 February 15, 1936 May 5, 1939 December 16, 1939 November 15, 1941

1By Presidential proclamation the rates of duty proclaimed in connection with this agreement were terminated effective April 22, 1939.

The Agricultural Adjustment Act of 1933, as amended, designates the Tariff Commission as the agency to conduct investigations to determine whether imports are rendering ineffective programs under that act or the Soil Conserva-plemental trade agreement with Cuba.

"Duty concessions terminated on March 10, 1938. Negotiations have been opened for trade agreements with Chile, Uruguay and for another sup

Microscope Magnifies Objects 100,000 Times Natural Size

A new giant electrical microscope that, in addition to magnifying submicroscopic objects to as high as 100,000 times their natural size, also can look inside bacteria, blood cells and other biological substances in the realm of the infinitesimal, has been developed in the RCA laboratories, it was announced (July 27, 1941) in New York City. The microscope was developed under the supervision of Dr. V. K. Zworykin, James Hiller and Arthur W. Vance.

The new explorer of the dark jungles of living substance is a modification of the electron microscope, which permits useful magnifications fifty

times greater than is possible with the optical microscope, because electrons-infinitesimal units of electricity-are used in place of light rays, the glass lenses being replaced by magnetic and electrostatic fields. For example, with the electron microscope a blood corpuscle may be enlarged to the size of a two-foot pillow, and a human hair to the size of a giant California redwood tree.

By using as high as 300,000 volts, five times the voltage of the RCA electron microscope now in use, it becomes possible, the announcement said, "to see deeper into the submicroscopic world."

Civil Aeronautics Board-Civil Aeronautics Administration CAB-Civil Aeronautics Board-Harllee Branch, Chairman; Edward Warner, Vice Chairman; Oswald Ryan, G. Grant Mason, Jr., and George P. Baker. Address, Washington, D. C. CAA-Civil Aeronautics Administration-Administrator of Civil Aeronautics, Col. Donald H. Connolly. Address, Washington, D. C.

The Civil Aeronautics Authority was established under the Civil Aeronautics Act of 1938 (approved June 23, 1938). It was reorganized pursuant to Reorganization Plans No. III and No. IV, which became effective June 30, 1940. It is now within the framework of the Department of Commerce and has been separated into (1) the Civil Aeronautics Board and (2) Civil Aeronautics Administration (the Administrator of Civil Aeronautics and his staff). The Civil Aeronautics Authority is no longer an operating entity.

The Civil Aeronautics Board functions independently of the Department of Commerce, being governed by the five members constituting the Board. Although it is supplied by the Department of Commerce with certain so-called "housekeeping" services, it maintains its own staffs to handle legal, economic and safety matters.

Its duties and functions include the prescribing of safety standards, rules and regulations, and the suspension and revocation of various certificates, including pilots' and other airmen's certificates; the issuance of certificates of public convenience and necessity to United States air carriers and permits to foreign air carriers; receiving tariffs filed by air carriers; regulating rates for the carriage of persons and property; prescribing rates of compensation for the carriage of mail; regulating accounts, records and reports; passing upon mergers, federal loans to air carriers, methods of competition, and interlocking relationships. The Board in the administration of its functions is required to encourage and develop an airtransportation system properly adapted to the present and future needs of the foreign and domestic commerce of the United States, of the Postal Service, and of the national defense. The Board cooperates with the national defense agencies.

The Board has also taken over the functions of the former Air Safety Board, the offices of the members of which have been abolished. In performing these functions it makes rules on notification and report of accidents involving aircraft: investigates and reviews the investigation reports on such accidents and reports the facts, circumstances and probable causes; makes its reports and recommendations public in such manner as it deems to be in the public interest; investigates complaints and conducts special studies and investigations to reduce aircraft accidents and prevent their recurrence.

The Civil Aeronautics Administration functions under the direction of the Administrator of Civil Aeronautics, who is under the direction and supervision of the Secretary of Commerce. By authority of the Civil Aeronautics Act of 1938 and subsequent legislation, the Administrator encourages and fosters the development of civil aeronautics, and foreign and domestic air commerce of the United States.

The construction, improvement, and repair of airports necessary for national defense is vested in the Administrator under the current $100,000,000 airport program authorized by the Congress for the fiscal year ending June 30, 1942.

The Civilian Pilot Training Program, also under the Administrator, has given over 100,000 flight training courses, which produced by the end of 1941 some 65,000 new aircraft pilots and qualified several thousand pilots to act as flight instructors. The program has been an effective adjunct to the national defense effort and recently has supplied the Army and Navy with approximately one-third of the flying cadets initially enrolled each month, as well as hundreds of instructors.

The Administrator encourages the establishment of civil airways, landing areas, and other air navigation aids and facilities. He designates and estabilshes, operates and maintains air navigation facilities along civil airways and at landing areas. He also makes provision for the control and protection of air traffic moving in air commerce.

The Administrator is charged with undertaking or supervising technical developmental work in the field of aeronautics, and planning for the development of aeronautical facilities. This includes the testing of devices designed to increase safety in air navigation.

As the chief executive officer in the field of civil aeronautics, the Administrator is charged with the duty of administering safety regulation (excepting the prescribing of safety standards, rules and regulations, and the suspension and revocation of certificates after hearings. This includes the effectuation of safety standards, rules and regulations providing for the examination, inspection or rating of airmen, aircraft, aircraft engines, propellers, appliances, air carriers, air navigation facilities and air agencies, and the issuance of safety certificates. In this connection, he recommends to the Civil Aeronautics Board proposed standards, rules and regulations designed to promote air safety. enforcing the rules and regulations of the Board, the Administrator makes emergency suspension of safety certificates and provides for the impositon and compromise of civil penalties for violations of such rules and regulations.

In

The Administrator further provides for the registration of aircraft, and the recordation of all conveyances affecting title to aircraft. He also provides for notice with respect to hazards to air

commerce.

Congress has vested in the Administrator responsibility for the care, operation, maintenance, and protection of the new Washington National Airport at the National Capital, representing an investment of over $15,000,000.

There are more than 6,000 employees in the Civil Aeronautics Administration, of which nearly 4,000 are engaged in operating the nation's airways.

Federal Communications Commission

FCC-Federal Communications Commission-James Lawrence Fly, Chairman; Ray C. Wakefield, Paul A. Walker, Norman S. Case, T. A. M. Craven, George Henry Payne, and one vacancy. Address, Washington, D. C.

The purpose of the Federal Communications Commission, as defined in the Communications Act of 1934, is to regulate interstate and foreign commerce in communications by wire and radio to make available to all the people in the United States a rapid, efficient, nation-wide and worldwide service with adequate facilities and reasonable charges. This program of regulation also includes provision for the national defense and for securing a more effective execution of communications policy by centralizing authority heretofore granted by law to several agencies.

Such supervision embraces allocation of radio frequencies; licensing of radio stations, and commercial and amateur radio operators; assignment of radio call letters; regulation of common carriers (point-to-point radio service; telephone, telegraph, and cable) in the matter of rates and tariffs, accounts, extension of facilities, operation and con

trol, and technical developments; promotion of radio and wire services, with particular reference to the utilization of radio in protecting life and property; and, particularly pertinent at the present time, the effective policing of the ether in connection with the national defense.

The Commission has jurisdiction over all radio services, including standard broadcast FM (frequency modulation), television, noncommercial educational international, relay, facsimile, developmental, marine (ship and coastal radiotelegraphy and radiotelephony), aviation (aircraft and airports), emergency (police, forestry, and special), experimental, Alaskan, and miscellaneous. Within the last year the Commission has authorized commercial operation of FM and television.

Program broadcast stations are not deemed common carriers under the Communications Act. Wire service which is intrastate in character is not subject to Commission authority.

DEFENSE COMMUNICATIONS BOARD

President Roosevelt issued an Executive order (Sept. 24, 1940) establishing a Defense Communications Board to determine, coordinate and prepare plans with respect to the relationship of radio, wire and cable communications to the national defense. The board has no power to censor radio

or other communications, or to take over any facilities. The Board is composed of the Chairman of the Federal Communications Commission, the Chief Signal Officer of the Army, the Director of Naval Communications, an Assistant Secretary of State and an Assistant Secretary of the Treasury.

United States Maritime Commission

U.S.M C.-U. S. Maritime Commission-Rear Admiral Emory S. Land, Chairman, (Term expires 1943). Thomas M. Woodward, Vice Chairman, (1945); Capt. Howard L. Vickery, (1942); Capt. Edward Macauley, (1944); John M. Carmody. Address, Washington, D. C.

The United States Maritime Commission was created by Public Act 835, Seventy-fourth Congress, approved June 29, 1936, and amended by Public Act 705, Seventy-fifth Congress, approved June 23, 1938, and Public Law 259, Seventh--sixth Congress, approved Aug. 4, 1939. The act vests in the Commission new functions, powers and duties and, in addition, those of the former United States Shipping Board under the Shipping Act of 1916, the Merchant Marine Act of 1920, the Merchant Marine Act of 1928, the Intercoastal Shipping Act of 1933, and amendments to those acts.

The policy declared in the Act is that "It is necessary for the national defense and development of its foreign and domestic commerce that the United States shall have a merchant marine (a) sufficient to carry its domestic waterborne commerce and a substantial portion of the waterborne export and import foreign commerce of the United States, and to provide shipping service on all routes essential for maintaining the flow of such domestic and foreign waterborne commerce at all times, (b) capable of serving as a naval and military auxiliary in time of war or national emergency, (c) owned and operated under the United States flag by citizens of the United States insofar as may be practicable, and (d) composed of the best-equipped, safest, and most suitable types of vessels, constructed in the United States and manned with a trained and efficient citizen personnel. It is hereby declared to be the policy of the United States to foster the development and encourage the maintenance of such a merchant marine."

In January, 1938, the Commission started a 500ship long-range replacement program whereby overaged cargo and passenger-cargo ships in the American Merchant Marine would be systematically replaced with new and faster ships of the latest design, including many new safety factors and equipment not heretofore contained in either foreign or American flag ships. Each ship also has special national defense features built into its structure.

As of Sept. 1, 1941, 283 of these new standard type merchant ships were ordered and under construction for this particular program, of which 104 had been delivered. In addition, there were also ordered during the first eight months of 1941, 312 emergency type cargo ships; 107 coastal tankers. coastal cargo vessels and harbor tugs; and 115 more of the same standard type vessels as made up the long-range program, all of which were units of the National Defense and Lease-Lend aid programs. During August, 1941, Congress passed authorizing legislation requested by President Roosevelt for building another 566 merchant ships. This made an overall program of 1,383 ships either contracted for or proposed, the great bulk of them to be completed and delivered by the end of 1943. The division of this total is: 283 ships for long-range program, and 1,100 ships for National Defense and Lease-Lend Aid programs.

Of the 283 ships in the long-range program, the

U. S. Navy had acquired 59 and the U. S. Army three. In addition to new ships, the Commission also effected the transfer of 66 other merchant vessels to the Army and Navy or 18 to the former and 48 to the latter. This made an overall total of 128 ships acquired by the two defense services as of Aug. 15, 1941.

To hold to a minimum, interference with the construction of standard type ships at the regular established shipyards, the Commission had organized and constructed nine new shipyards on the Atlantic, Gulf and Pacific coasts for building the emergency type ships, while the small coastal tankers, coastal cargo ships and harbor tugs were placed with smaller yards located on the Great Lakes and in the State of California.

By Dec. 31, 1941, approximately 78 standard type and 20 emergency type ships had been completed during the calendar year, and delivered either to the Navy, Army, private operators or for lease-lend purposes. This compared with 41 completed in 1940; and 20 in 1939. The total deliveries for 1939, 1940 and 1941 were approximately 159, of which 139 were standard type and 20 emergency type. To provide adequate and efficient personnel for manning all American flag ships, the Commission has two systems of training. One, known as Cadet training, is eligible to young men between the ages of 18 and 25, unmarried and American citizens. They must be psysically fit, high school graduates and are required to submit references from responsible citizens as to character. The course of study is 4 years, and prepares the enrollee for becoming either a Deck or Engineer Officer in the American Merchant Marine.

The other system deals with improvement courses for both licensed and unlicensed seamen with at least one year experience at sea and also trains apprentice seamen who after an adequate training period are able to obtain certificates for their ratings. This is known as the United States Maritime Service.

By act of Congress and Executive Order of the President, the Commission also has been charged with the maintenance and repair, and placing in operation of approximately 84 foreign owned merchant ships that were requistioned during June, July and August of 1941. These ships were laid-up in American ports as the result of the outbreak and spread of the European War.

The Commission also fixes the maximum rates of charter for all American flag ships in both the domestic and foreign trades; and through negotiation and cooperation arranges for comparable charter rates for all foreign flag vessels operating in the U. S. foreign trade. Through a system of ship warrants issued to all American flag vessels, and to foreign flag vessels where requested by the owner, it provides for priorities in transportation of strategic materials for National Defense including the use of shore and other facilities for ships. It also has authority to underwrite any hull or cargo war risk insurance on American flag ships that cannot obtain this in the regular insurance market on reasonable terms and conditions.

Commodity Credit Corporation

CCC-Commodity Credit Corporation-J. B. Hutson, President. Address, Washington, D. C.

The Commodity Credit Corporation was created under the laws of Delaware (Oct. 17. 1933) and by Act of Congress (Jan. 31, 1935), as amended July 1. 1941, its functions were extended to June 30, 1943, or such earlier date as may be determined by the President. The Corporation is primarily a lending institution making loans principally to producers to finance the carrying and orderly marketing of agricultural commodities.

Loans have been made on barley, butter, corn, cotton, dates, figs, grain sorghums, hops, peanuts. pecans, prunes, raisins, rye, tobacco, turpentine and rosin, wheat, and wool and mohair.

The Corporation has an authorized and paid-in capital of $100,000,000. Under the Act of March 8, 1938, as amended July 1, 1941, the Corporation is authorized, with the approval of the Secretary of the Treasury, to issue and have outstanding at any one time, bonds, notes, debentures and other similar obligations not to exceed $2.650.000.000. These obligations are fully and unconditionally guaranteed by the United States, and the income therefrom is exempt from Federal, State, Municipal and local taxation (except surtaxes, estate, inheritance and gift taxes.) However, the income

derived from Series "G" notes and future note issues shall be subject to all Federal taxes, now or hereafter imposed. The notes shall be subject to surtaxes, and estate, inheritance, gift or other excise taxes, whether Federal or State, but shall be exempt from all taxation now or hereafter imposed on the principal thereof by any State. municipality, or local taxing authority.

As of June 30, 1941, total of commodity loans outstanding was $359,357,412.63. Of this amount, $244,321,640.35 represents loans held by Commodity Credit Corporation and $115,035,772.28 represents loans held by private lending agencies. Disbursements as of that date were $1,885,469,962.03 with repayments, acquisitions and adjustments on commodity loans of $1,641,148,321.68.

Under the Reorganization Plan, effective July 1, 1939, the Commodity Credit Corporation was transferred to the Department of Agriculture and functions as a Bureau of the Department under the general direction and supervision of the Secretary of Agriculture.

*Includes amounts charged off and credits for outstanding balances of loans against commodities taken over by CCC.

Tennessee Valley Authority

TVA-Tennessee Valley Authority-David E. Lilienthal, chairman; Dr. Harcourt Morgan and James P. Pope, Directors. Addresses, Wilson Dam, Ala.; Knoxville, Tenn.; Chattanooga, Tenn., and Washington, D. C.

The Tennessee Valley Authority was created by Congressional Act, approved May 18, 1933, and amended August 31, 1935, July 26, 1939, and June 23, 1940. Its general purpose is to develop the Tennessee River system in the interests of navigation, flood control and national defense, and to generate and sell surplus electricity to avoid the waste of water power.

The Tennessee River drainage area starts in the extreme western end of Virginia, sweeps southwestward in a wide arc across western North Carolina, eastern Tennessee, northern Georgia, northern Alabama and a corner of northeastern Mississippi, swings north again across Tennessee and Kentucky, and finally ends at Paducah, Kentucky, where the Tennessee River joins the Ohio.

Elevations in the Tennessee Valley vary from about 300 feet above sea level near Paducah to more than 6,000 feet on mountain peaks in the eastern part of the Valley. There is abundant rainfall. Annual precipitation averages 52 inches and is heaviest in the mountains where 80 inches Some 2,500,000 persons is sometimes recorded. inhabit the Valley's 41,000 square miles and another 4,000,000 live in territory under its immediate influence.

To control the waters of the Tennessee and its tributaries requires two lines of action by the Authority. The first is the construction of a system of publicly-owned dams on the principal tributaries and on the Tennessee itself. Unified operation of these storage and main river dams will reduce destructive floods, maintain a channel suitable for nine-foot navigation, level off seasonal fluctuations of the river, develop a valuable by-product in the form of hydroelectric power, and secure an economy from multi-purpose planning and operation which would be impossible with developments having but a single purpose.

The second line of action on the problem carries the Authority beyond the publicity-owned streams to privately-owned land, the source of run-off. Control here requires the cooperation of individual landowners in the development and popularizing of improved land management and agricultural practices, creating thereby increased retention of rainfall in the soil to supplement artificial river control.

In 1940 and 1941, TVA assumed a major role in the national defense, acting with emergency speed in the fields of electric power for industry, manufacture of munitions, and housing for defense inworkers. TVA'S million kilowatts of dustrial capacity aided substantially in meeting a southeastern power emergency resulting from a rapidly growing defense load accompanied by a severe drouth. The TVA particularly took the leading part in keeping the Alcoa, Tenn., plant of the Aluminum Company of America, one of the largest in the country, in full operation, by supplying 140,000 to 150,000 kilowatts of emergency power.

To supply aditional power, Congress on July 31, 1940, authorized TVA to construct Cherokee Dam on the Holston River and a new steam plant which, with additional downstream installations, will add 360,000 kilowatts of capacity. First unit of the steam plant was scheduled for operation early in 1942.

On July 17, 1941. Congress authorized a fourdam development on the Hiwassee River system to add 212,000 kilowatts of capacity to the system. Work commenced immediately, two storage dams to be completed in eight months and two power dams in 18. In addition, construction schedules on Watts Bar, Fort Loudoun, and Kentucky Dams have been moved forward from eight months to a full year to provide power at earlier dates.

For munitions manufacture, TVA is rehabilitating and modernizing the ammonium nitrate plant constructed at Muscle Shoals during the World War and maintained in stand-by condition by the Authority. The plant will produce 300 tons of ammonium nitrate daily. As a part of the work, TVA is constructing a modern synthetic ammonia plant. supplanting the cyanamide process installed in 1918. The cyanamide portion of the old plant is to continue in use for production of phosphate fertilizers, or elemental phosphorus, useful in defense.

As agent for FWA, TVA constructed and is managing a 250-house project for defense workers in nitrate, aluminum, and electrometallurgical plants at Muscle Shoals and assisting in defense housing projects at Alcos, Milan, and Humboldt, Tenn. In the Muscle Shoals project, 150 houses were of a

new portable type developed by TVA, constructed in section by factory assembly line methods with all utilities installed and trucked to sites for assembly. A private contractor is building TVA demountable houses at Wolf Creek Ordnance Plant in west Ten

nessee.

As of July 31, 1941, TVA had completed six major multi-purpose projects; eight projects, including the five defense power dams, were under construction and eight additional generating units were being installed at downstream plants. The completed dams had provided more than 4,000,000 acre-feet of useful storage and made available an all-year channel of six feet from the mouth of the river to Chat

tanooga. The installed capacity of the system, including acquired plants, totaled 1,050,000 kilowatts, to be increased to nearly 1,600,000 kilowatts by the end of 1942 by new construction.

The first dam of TVA's unified system was Wilson Dam, built by Congress as a World War measure and transferred to TVA by legislative action. Its 151-mile reservoir submerges Muscle Shoals. Its power barrier to navigation for generations. plant contains eight generators with a capacity of 245,000 horsepower. Storage from upstream TVA dams is increasing the prime power (available the year round) at Wilson. Six additional units of 25.200 kw. each have been authorized and will be in operation in 1942, and early 1943, bringing total installed capacity at Wilson to 335,200 kw.

The first TVA-built dam is Norris, whose gates were closed March 4, 1936. At normal level the reservoir holds 2,047,000 acre-feet of water and Total storage is 2,567,000 covers 34,200 acres. acre-feet, of which about 2,000,000 acre-feet is flood storage capacity.

Norris Dam, essentially a storage project, is 25 miles northwest of Knoxville on the Clinch River. The total cost of the dam, power plant, switchyard and reservoir was $30,900,000. The powerhouse contains two 66,000-horsepower turbines and two 50,400-kw. generators.

TVA in 1936 also placed in operation a main river project, Wheeler Dam, at the head of Wilson It forms a lake 74 miles long. When reservoir. filled to its capacity of 1,150,000 acre-feet the lake covers 68,300 acres. There are four 45,000-horsepower turbines and four 32,400-kw. generators. And space has been left for two additional units. Total estimated cost, including 4 units, is $35,400,000.

Pickwick Landing Dam, 53 miles below Wilson Dam, was completed in 1938. Its reservoir has a total storage capacity of 1,091,000 acre-feet and when holding this amount of water will cover 46.800 acres. The initial power installation consists of two 48,000-horsepower turbines and two 36,000 kw. generators; two additional units are to be installed and provision has been made for possible installation of two more units. Total estimated cost including four units is $35,700,000.

Guntersville Dam, providing a lake 82 miles long from the head of Wheeler reservoir to Hales Bar Dam, was placed in operation in 1939. The pool covers 70,700 acres when the reservoir is filled to its controlled total capacity of 1,018,700 acre-feet. Initial power installation consists of three 34,000horsepower units, with space for an additional unit. The dam cost $31,640,000.

Seven miles upstream from Chattanooga, Chickamauga Dam was placed in operation in 1940. Three 36.000-horsepower generating units have been installed, with space provided for one additional unit. The dam cost about $35,000,000.

Hiwassee Dam, TVA's second storage reservoir, also was placed in operation in 1940. The dam, on the Hiwassee River in North Carolina, has a reservoir volume of 438,000 acre-feet. One 80.000horsepower generating unit has been installed and there is space for an additional unit of the same size. Cost of the dam was $17,000,000.

Largest of the dams authorized expressly to provide national defense power is Cherokee, under construction on the Holston River, 52.3 miles above its juncture with the Tennessee. This is a storage project. 175 feet high and 6,700 feet long. Its reservoir, 58.5 miles long, will provide nearly 1,500,000 acre-feet of useful storage. Initial power installation will be three 41,500-horsepower units, with space for a fourth. The project will cost about $34,500,000.

The Hiwassee development consists of Apalachia. The Ocoee No. 3, Chatuge, and Nottely Dams. Apalachia site is below Hiwassee Dam, on the Hiwassee River. The Dam, a concrete structure 110

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United States-Tennessee Valley Authority; Travel Bureau

feet high, will divert water into a 43,000-foot tunnel, providing 385 feet of head at the 75,000-kilowatt powerhouse downstream. Ocoee No. 3 project. on the Ocoee River, will provide 300 feet of head by a 100-foot concrete dam and a 12,000-foot tunnel. Power installation will be 27,000 kilowatts. Nottely and Chatuge Dams, on streams above Hiwassee Dam, are to be storage projects without power installations, each being of earth and impounding 200,000 acre-feet of water. Storage in the Hiwassee development will make feasible 106,000 kilowatts of downstream installations. The dams, with downstream installations, will cost about $42,000,000.

Construction is also under way on the Kentucky Dam, 22.4 miles above the mouth of the Tennessee River near Gilbertsville, Ky. This, the largest of the Authority's projects, will not be completed until 1945. The dam will provide 4,570,000 acre-feet of controlled flood storage which will contribute to protection of the lower Ohio and Mississippi Valleys from flood damage. Total reservoir capacity will be 6,100,000 acrefeet. The reservoir will extend 184 miles upstream, almost across the State of Tennessee, and will provide a 9-foot navigation channel to Pickwick Landing Dam. It will have five 44,000-horsepower units. Total estimated cost is $105,000,000. The Authority commenced construction in 1939 on Watts Bar Dam, which will back the water 72.4 miles from the head of the Chickamauga reservoir. Initial power installation will consist of five 42,000-horsepower units. Total estimated cost is $38,400,000.

Fort Loudoun Dam is located at river mile €02.3. Work started in July, 1940. Total storage will be 365,500 acre-feet; flood storage 105,000 acre-feet. It will provide 9-foot navigation to Knoxville, Tenn. Initial power installation will consist of two 44,000 horsepower generating units. 'Total estimated cost is $29,500,000.

On Aug. 16, 1939, in connection with the purchase of the electric system of the Tennessee Electric Power Company, the Authority acquired five major dams and hydro plants. The largest is Hales Bar, on the Tennessee River 33 miles downstream from Chattanooga at the head of the Guntersville pool. The reservoir, with 124,800 acrefeet of storage, extends to Chattanooga. menced in 1905, the dam and hydro plant were placed in commercial operation in 1914. Power installation consists of three 7,000-, five 7,700-, two 4,200- and four 4,100-horsepower units.

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Ocoee No. 1 is on the Ocoee River, 12 miles above the mouth, in Polk County, Tenn." Its reservoir, extending 711⁄2 miles upstream, has a storage capacity of 25,800 acre-feet. It has five 7,400-horsepower generating units. Ocoee No. 2 at the head of the Ocoee No. 1 pool, is used for diversion only and the powerhouse is five miles downstream. It has two generating units of 10,000 and 15,000 horsepower.

Blue Ridge Dam, on the Toccoa River in Fannin County, Georgia, has 197,500 acre-feet of storage in its 10-mile-long reservoir. It has one 30,000horsepower generating unit.

Great Falls Dam, on the Caney Fork River, a tributary of the Cumberland, has a storage of 49,400 acre-feet. Its power installation consists of one 19,000- and one 22,200-horsepower unit.

The new steam plant, authorized with Cherokee Dam, is under construction near Watts Bar Dam. It will have a total installation of 180,000 kilowatts, consisting of three 60,000-kilowatt units. The authority operates three steam plants acquired from the Tennessee Electric Power Company, Hales Bar, 40,000 kilowatts; Nashville, 48,000 kilowatts; and Parksville, 13,000 kilowatts. It also operates Sheffield steam plant, constructed at Muscle Shoals during the World War, with an installed capacity

833

of 60,000 kilowatts, and leases a 54,000-kilowatt steam plant at Memphis, Tennessee.

Congress directed the Authority to give preference in the sale of its surplus electricity to States, counties, municipalities, and co-operative associations. On June 30, 1941, TVA power was being used by approximately 450,000 customers, about 335,000 of whom were residential and farm customers. The power was being distributed by 75 municipalities, Memphis and Chattanooga, Tennessee, 38 co-operaincluding Knoxville, Nashville, tives and in several districts operated temporarily by TVA. In addition, TVA sells power to power companies and industrial plants and uses its electricity for dam building and in the fertilizer plant. With the exception of customers of the Alcorn County, Mississippi, Electric Power Association, and the Tupelo, Mississippi, Municipal System, where lower rates are in effect, residential and farm consumers were paying the following basic rates: 3c per kw-hr for the first 50 kw-hrs per mo. 2c per kw-hr for the next 150 kw-hrs per mo. 1c per kw-hr for the next 200 kw-hrs per mo. 4 inills per kw-hr for the next 1,000 kw-hrs per

mo.

71⁄2 mills per kw-hr for all over 1,400 kw-hrs per mo.

The year 1939 saw a rapid expansion of the market for TVA power among preferred customers through the acquisition of the electric facilities of a number of privately owned public utilities, culminating in the purchase of the system of the Tennessee Electric Power Company by the Authority, 21 municipalities, and 11 co-operative associations on Aug. 15. Of the contract price of $78,300,000, the Authority paid $44,949,000 for dams and hydro plants, three principal steam plants, and a number of other small fuel plants, transmission lines, and some distribution properties. The remainder of the price was paid by municipalities and co-operatives for distribution properties. system served about 142,000 customers.

The

Other large acquisitions of privately owned electric properties by TVA in conjunction with local agencies included purchases of Memphis and Knoxville, Tennessee, electric systems in 1939. Total purchases up to June 30, 1941, amounted to $116,977,000, paid by TVA and by local agencies.

Congress in June 1940 amended section 13 of the TVA Act to provide for increased payments to the states in lieu of taxes and for more equitable distribution of the payments among states and counties. The amendment provides that in the fiscal year 1941 the Authority shall pay to the states in which it sells or owns power property 10 percent of its gross revenues for the preceding fiscal year.

The Authority received $50,000,000 from the National Recovery Act of 1933, $25,000,000 from the Emergency Appropriations Act of 1934, and $36,000,000 and $39,900,000 in direct appropriations by the Seventy-fourth Congress for the fiscal years ending June 30, 1936, and June 30, 1937. The Seventy-fifth Congress appropriated $40,166,270 for the fiscal year ending June 30, 1938, and gave TVA the authority to make commitments for an additional $4,000,000. For the fiscal year ending June 30, 1939, Congress appropriated $40,000,000 for TVA. The sum of $39,003,000 was appropriated for the year ending June 30, 1940, and $40,000,000 for the year ending June 30, 1941.

In July, 1940, Congress appropriated an additional $25,000,000 to commence a $65,800,000 program to provide additional electric power for national defense, particularly the production of aluminum for airplanes.

The Seventy-seventh Congress appropriated $79,800,000 for the fiscal year ending June 30, 1942. In July 1941, it appropriated an additional $40,000,000 for fiscal year 1942 for the beginning of the Hiwassee River development. This brings the total appropriations to $454,869,270.

United States Travel Bureau

USTB-United States Travel Bureau, division of the National Park Service, Department of the Interior. W. Bruce Macnamce, Chief; Jay Wingate, Supervisor, New York Office; J. Lee Bossemeyer, Supervisor, San Francisco Office. Those desiring travel and recreation information should address the New York Office at 45 Broadway, if resident east of the Mississippi River, and the San Francisco Office, Old Mint Building, if west of the Mississippi.

The United States Travel Bureau was established Feb. 4, 1937. Legislation, signed on July 19, 1940, authorizes it to serve as a national coordinating agency for the promotion of travel by the Federal Government, State governments, private industry, and service clubs. A Travel Advisory Committee composed of representatives of the foregoing interests will assist in formulating a national travel program.

The Bureau supplies free and impartial informa

tion on the recreational and travel attractions of the United States, its Territories, and possessions; publishes brochures on the United States for circulation abroad; sponsors travel radio programs; issues semi-annual Calendar of Events, monthly informational bulletin, and research findings on economic and sociological significance of travel. Program is designed to supplement, not to duplicate, activities of transportation companies, commercial travel agencies, and similar enterprises.

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