of the surrenders were made by corporations who were able to secure the consent of the bondholders or who were able to retire or refund their bond issues. It was very evident that many years would be required to carry out the purpose of the law respecting uniformity of franchises throughout the state, and, hence, the recent legislature, acting under the power reserved in the constitution to alter or repeal corporate franchises, and under the police power, amended every franchise, making it an indeterminate permit. So at present, assuming the validity of the act converting all franchises into indeterminate permits, there is uniformity in franchises throughout the state, and, in consequence, all public utilities are subject to all the provisions of the Utilities Law."
The Wisconsin law comes out boldly on the point that unnecessary competition costs excessively in the long run and should be eliminated, if possible, especially if other incentives resulting in the betterment of service can be maintained. In fact, the whole idea of this kind of legislation is a frank recognition of monopoly. By chapter 454, laws of 1907, no railroad corporation, which includes street railways, may begin the construction of any line without receiving a certificate of convenience and necessity. Right in line with the same policy are laws to provide for the common use, at a reasonable compensation, of facilities such as poles, conduits, etc.
The municipal ownership law too has been strengthened. By using the threat of municipal ownership as a club, municipalities may buy the plants of the companies at a price fixed by the commission. As a general thing,
