Then, again, the municipalities indirectly will have technical help given to them, which otherwise they could not afford. A permanent staff of experts is thus provided so that the municipality can tell upon what basis the commission places its rates. The law also provides for schemes which will be stimulants to corporations, such as sliding scales and other devices of this kind, merely, however, allowing the commission to pass upon these scales. The depreciation accounting was received with open arms by the managers of the companies. The greedy stockholders in a company would press the managers for a higher rate of dividend, who were thus often between the devil and the deep sea. In many cases if they gave this higher dividend they would have to do so from the depreciation fund of the property, whereas, if they did not give it, they were often threatened with dismissal. In this manner both the avaricious stockholder and the crooked politician who would make the same demands of municipal enterprises have been regulated by this law. The commission has just demanded that the city of Milwaukee set aside $35,000 for a depreciation fund for its municipally owned water works.
One of the most debatable parts of the law is the indeterminate permit. The men in favor of this bill had a hard struggle to include this feature. The fixed period had become so popular and there had been so
