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Continued from page 1

WHAT BRIGGS SAID ejection — fh

On B.C Electric

of these terrific
amounting to

between two and three times
1
i

“In spite
cost han

1 for com-

as much cost in a
mission generation, transmis-
sion and distribution of its
electric production,
nevertheless an important part
of that power is sold to the
towns and
farms and the fishing hamlets
on the highways, byways and
shore lines of this province,
at the equal or less than the
price:of the same amount of
power taken from the B.C.
Electric Company in Vancou-
ver or Victoria.

$e a a

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}
i

power

villages, to the

“Tf the average of the pub-
lic utility stock prices is con-
sidered to have remained level
or flat during the period, then
the tremendous earning pow-
er associated with B.C. Elec-
tric common has resulted in
its stock multiplying in value
by 2.35~ times!

“In the first quarter of 1952,
the average market valué of
each share was $16.06. During
the next six years,’ generous
dividends amounting in all to
$6.55 per share were paid
over. In the first quarter of
1958, the average market value
of each share had become
$39.08.

“The six year gain in mar-
ket value was $23.02 per
share.

“The dividends over the six
years were $6.55 per share.

“The increase and the re-
turn for 6 years is the sum
of these two, or $29.57 per
share.

“The gain in value over the
six year period has been 184
percent of the original in-
vestment. That is to say, the
investment has increased from
100 to 284 percent, if divi-
dends be included.

“This is an average return
of 19 percent each year, com-
pounded over the six years
examined. To put it’ mildly,
that’s really not half bad—for
the shareholders.

© 5 © 3 $e

“Speaking of expenses, this

company (B.C. Electric) ob-

viously has an extremely high
overhead. It has lavish build-
ings. It indulges in lavish ad-
vertising. Its officials have
generous expense accounts.
The company gives lavish gifts
to education, charity and fish-
eries, and in all probability it is
most generous in its contri-
butions to the political parties.
Yet in spite of such great
costs, over and above the sum
total of them ‘all, there has
still remained_ this tremen-
dous profit making power
amounting to*19 percent per
annum, compounded year by
year.
© xt Xt

“Tt asked for an increase in
electric which would
bring it in about another $5,-
800,000. The PUC cut the re-
quest down to about $5,100,-
000. This miffed the smart
men. who knew how to do
things, so they turned around
and applied for and got about
$3,700,000 a year in increased
street railway and _ busline
fares.

rates

x it tt

“The extremely friendly re- -

lationship between the pres-
ent government leaders and
the B.C. Electric “has _ not
seemed to have harmed that
company’s earning power.

$e it sO

“A mere handful of PUC
men, with scores of assign-
ments on widely diversified
matters, simply cannot be ex-
pected on.a hit and miss basis
to police a highly aggressive
half-billion-dollar utility which
is growing like a weed.

“The PUC is not permitted
to have the necessary funds
to carry on the essential work
entrusted to it.

“As far as I can tell there
is, in effect, little vestige of
control by the PUC over the
construction of the companp’s
gold-plated monuments. Yet
these undoubtedly cause sig-
nificant additions to its rate
base.

“There seems no effective
PUC control whatsoever over
the lavish expense expendi-
tures of this utility.

On Wenner-Gren

The Peace River power re-
sources, he said, will within
less than aé_ generation be
worth more to the holder of
the water licence “than if he
were able to take over King
Solomon’s mines.

5 @ 5 @ es

Briggs said that the area in-

volved in the Wenner-Gren

survey is 40,000 square miles)
and the section within this
area for which land and for-
est reservations have been
granted is about 30,000 square
miles.

He said the net volume of
mature timber on this reserve
is something over 16 billion
cubic feet, or 110 billion FBM.

Effie Jones has fought her last.
ut shes not retiring

By HAL GRIFFIN

Not long ago a member. of
the Vancouver CCF Women’s
Council called Effie Jones on
the phone. “I just want to tell
you that we'll be supporting
you again this year,” she said.

“T hadn’t the heart to tell
her that I wouldn’t be run-
ning this year,” Effie said in
relating the conversation for
me this week.

Now nearing her 70th birth-
day, the indomitable woman
who has ‘richly earned her
title as the unofficial mayor
of east. Vancouver, has con-
tested her last civic election.
No doubt the Liberal and
Conservative bosses who have
maintained the Non-Partisan
Association in office at Van-
couver City Hall for the past
two decades will be relieved
to hear this, for no one has
come closer to upsetting their
political machine since Dr.
Lyle Telford took the mayoralty
from them in 1938.

They should not however,
congratulate themselves that
they have heard the last of
Effie’s sing-song Welsh voice
challenging their policies and
asserting the rights of the
working people. Neither
should the men in the unof-
ficial city hall at the B.C. Elec-
tric Building imagine that
they can now exact their trib-
ute from the public without
protest from Effie Jones.

With Mona Morgan, whom
she regards as her successor
in civic politics, Effie will be
leading a picket outside the
B.C. Electric Building this
Saturday afternoon to protest
fare increases.

“T don’t intend to retire
like so many I know,” says
Effie. “I shall carry on as
long as I am able to.”

Voters in thousands of
working class homes will miss
Effie Jones’ name on the bal-
lot, where it has been every
year for the past 17 years.
They will regret. that for all
the times she was runner-up,
the strength of the NPA ma-
chine, although strained to
the limit on occasion, was
always great enough to deny
her a seat on the council.

She came closest to election
in 1947 in what became known
as “The Battle of the Joneses”
— “High Fare” Charles Jones
and “Low Fare” Effie Jones.
“High Fare” Jones retained
the mayoralty by virtue of the

big business vote, but “Low:

Fare” Jones carried the day
in every district where the
working people live. Less than
5,000 votes — 24135 to 19,218
—deprived Vancouver citizens
of the honor of electing their
first woman mayor.

Effie’s strength has been
not only her unremitting fight

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against the B.C. Electric. It
has also been her incorrupt-
ible working class purpose,
her humanity, her willingness
to help those in distress.

In the depression years it
used to be said of her that no
one in the Fraser Avenue dis-
trict around her home on
Sherbrooke Street ever need-
ed help without Effie being
there to offer it.

Oftimes she cleaned her own
shelves of food to help a
hungry family. She attended
births, comforted the bereaved
and frequently made _ the

°
funeral arrangements. No one,

least of all herself, knows
how. many social assistance
and Workmen’s Compensation
cases she has taken up.

If there was. an eviction
picket line, as when the Pogue
family on East Fifth Avenue

Famous Artists Ltd. —

November 3, 1958.

EFFIE JONES

@ WED. DECEMBER 3RD AT 8:30 P.M: |
GEORGIA AUDITORIUM 1k

The FIRST SOVIET PIANIST ;
TO APPEAR IN VANCOUVER an

DIRECT FROM MOSCOW |;

VLADIMIR
ASHKENAZY |

FIRST PRIZE WINNER BRUSSELS
INTERNATIONAL CONTEST

“He is the latest musical envoy of the Soviet Unio,
and his mother country has every reason to be pt?

of him!” .. . Boston, November 3, 1958. “Seldo™
had anyone heard Chopin played so brilliantly!” + *
Washington, D.C., October 15, 1958. “At the agé &
21 he ranks with the- world’s masters!”

Tickets at Kelly’s’ Music Store, Seymour and Georg!
Streets, Vancouver. Phone MU. 1.3351. 10 a.m ?
5 p.m. daily. $4.50, 4.00, 3.50, 2.75, 2.25, 1.75 inc. #

was threatened with evie
in the closing years of
war, Effie was.sure to b®
its %

“It took the sheriffs
five hours to pack the SU")
ture, out,” she recalls,
adds with a smile, Wee
it all back in 25 minutes yl

She may never have WOF
election, but her name will
remembered in Vancou
history when lesser me?
owed their election to 4 Pa)
tical machine have long PY
forgotten.

Not to write the closing pate
to her long civic caree!
to honor Effie Jones fo%
achievements a banquet ra
be held at the Ho Ho Resl#,
ant on Saturday, Novem
29, 6 p.m. In a real sensi
will be a highlight of =
Centennial year.

= Bosto™.

G
Novernber 21, 1958 — PACIFIC TRIBUNE—F*