UTILITIES: The Public Is Pleased

Ever since Nebraska Power Co., the state’s last private utility, went under public ownership just a year ago, utility investors have wondered how it would fare. Last week, tall, balding T. H. Maenner, head of the Omaha Electric Committee, the group of Omaha citizens which runs it, proudly told them. After a year’s operation, the utility has a net earned surplus of $661,000, 4½% of the $14,467,012 purchase price. It has also given all but administrative employes a flat $20-a-month raise, amounting to 12½% of the payroll.

Before long, the committee hopes to transfer the power company to the Omaha Public Power District, thus completing the deal for public ownership. Said Maenner: because his group bought the property a year ago, the public will pay $2,158,000 less for it now.