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citizen, Mr. Godwin should have maintained a golden silence on the subject so that nothing could be said to the effect that he sought to influence the SCC. Instead, in his news conference at Virginia Beach September 18, he declared the utilities such as Vepco must have adequate revenue to meet rising demands.
What he did not mention, conveniently, is the fact that electric power demand has fallen sharply this year as a result of conservation measures, rising rates and construction controls in many sectors, as well as the deepening recession.
Vepco has consistently shuffled over this crucial fact in its continuing cries for more and more money, to be spent in maintenance of high dividends to stockholders (currently 16 per cent on the common stock) and for vast construction programs.
It may be worth noting, possibly for the first time in print, that Gov. Godwin’s feelings about Vepco and its stature in his eyes may be reflected in the fact that one of his first acts as Governor following the 1972 election was to hire Vepco’s top press relations man as his own. It would be interesting to know to what extent, if any, Vepco’s former public relations expert assisted the governor in his comments at the news conference.
In referring to the big utility’s revenue “needs,” the Governor made no mention whatsoever of the plight of small consumers faced with staggering increases in their electric bills. He was not asked about their need to survive the inflationary crunch.
However, the Governor did express his opinion that an investigation by the SCC into Vepco’s management and construction pro
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