The law as to franchises in Ohio; the "consent law, " 543.—Three difficulties: consents, reaching the center, finances. Mayor Johnson's guarantees, 545.—Earlier competing companies, 548.—Negotiations with the main company, 549.—Physical value of property; questions as to paving, overhead charges, 551.—Method of determining franchise values, 553.—Three transactions for effecting the transfer, —the sale, 559; the security grant, 559; the lease to the Municipal Traction Company, 561.—Financial calculations and expected economies of the Traction Company, 566;—The strike of the first few weeks and its defeat, 571.—Mayor Johnson's attitude, 574.