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Show STATE REGULATED MCN'OrCLIES Public (ltitilies have beepme monopolies controlled by sUite re-, gulations, and in this respect have been ..fegULirded for th;: stock-' hoders and the general public that i-; served. To avoid duplication of pi nt the nc c.-.-ity and convenience laws are enacted. 1 o prelect pun h tscrs of securi ties, r t'-s ;rc made that will guarantee income cn a f nr win itinn. As the !iws re tret t!." aie"l':t ecu . ! ies th it iii..y b" issued, and limits the earnings, the utility must a!-o be i.ihnved io accumulate accumu-late a surplus to maintain pn-peity ef i icency, s.'V best investors authorities. au-thorities. Discarded theories of d'-'ructive competition cannot be reived unless utility propeiti'.s are to !,: subjected to w: ' .'.;1 or.-; ; t.: .' ' struggles which reb invc-tor-i ;-nd h '.' y t. --i.r - I he sooner the id ovc pi nu Ies a..j ger.i r. r :.: :mt d. en 1 applied railroads and to ptibh-- c.ii-.rrs gen'-. .ihy, the better it will be for our country and f x all c"e -or; :. !. |