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<br />. <br /> <br />"It will thus be seen that the builder of the upper dam is <br />enti t led to a "ery important equi ty in subsequen t de "elopments be- <br />low. 'l'heTe would probably be di-L'ficul ty in arriving at a just <br /> <br />/;l)"91'3isal of this equi ty, and it \Vould seem the simpler plan <br /> <br />woul,i be to let one corporation handle it Ell. <br /> <br />"However, as there are se_veral interests seeking rights in <br /> <br />the oanyon at present. there may be le[3:c;l difficulty in turning <br />the entire project over to one pri"ate corporation for develop- <br />ment. Furthermore, if it is legally feasible ,- the policy of turn- <br />ing over much all enormously '!bluable ratur",l resource to a private <br /> <br />cornorationwould probably be opposed by the general public, and <br /> <br /> <br />. any legislation aiding a Single private corporation to gain entire <br /> <br /> <br />control of this great natural resource would und6ubtedly be im- <br /> <br /> <br />pOSSible of attainment. <br /> <br />"i'rivately owned public ser'lice oOJ:"poTations in these time s <br />get 'lerY little satisfac:tion from l"ende:fing'laluable public ser- <br />'lice. 'l'hey are hedged and ham:!)6red at every turn and if, in spite <br />of this, they are sble to operate at a profit, the,-cry goes up for <br /> <br />the r,lUblic to take them oller. <br /> <br />"If there e"or was a resouroe that the people felt belonged <br /> <br /> <br />to them in the bel'inninrr and one which 2ppeared a.ttracti'le to <br /> <br /> <br />them to oper2.te for their 0~1ll benefit. it is the COlorado-Ri'ver <br /> <br />=' <br />.J <br /> <br />power project end this situation, together with the in'lol'led con': <br />ditions surrounding the comnrehensi'le power development of the <br />canyon by pri'late capital, I believe may as well be recognized now <br /> <br />P. <br /> <br />; <br /> <br />, I <br /> <br />~ <br />