Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-04-17
CORPORATIONS

CORPORATIONS
FOR THE E.vQUfRER
Are the members Of corporate body entitled TO vote
IA their individual capacities upon the real estate held
by the corporation?
ms IS an important and interesting question of con-
stitutional law, and ought be examined with temper
unniuenced by the spirit stirring interests of contest
ed election. Upon this examination | do not propose
70 enter but IN the hope that better qualified
Tor the task, may be found among the subtle and acute
rcasoners who abound in CITY, would candidly of
the proposition
The Constitution provides, that "cvery citizen being
possessed as tenant In common joint tenant
OF an interest in share of land and having an estate
OF freehold therein, shall be qualified to vote Under
this clause, If under any, the corporator must assert bs
right TO vote upon his stock.
dIsclaIin at once all right in the Legislature to alter
the electoral franchise, directly indirectly But NAV
safely assume that the Constitution in this clause de-
signed that the voter shall be possessed of funded cs
ate uses language appropriate only landed estate
IL requires that the voter shall have freehoid and il
Is ony III landed estate that he have freehold 1t
speaks OF his possession joint tenant tenant in COM
non or drceHcr; and thus indicates that tho into
rest must be landed estate as in relation to no other
e hcre DC P6TceerS III Is not therefore, every inte
rest IN lands, which will fall within the meaning of the
constitution a man may have what in one sense may
indeed be considered interest in land vet il is not
such an interest as the Constitution contemplatcs-
IL may be personal estate, in which he can have no
eehold inns mortgage, whose debt is secured upon
au, may DC truly said To have interest in one sense
IN real estate yet he has not in the of the Con-
sutution. His interest is decmc a personal interest
Though he has actually the ic00L title To the land
II passes TO ms executors personal property instead
OF descending to his heirs Accordingly that interest
Is clearly held to be freehold and lie cannot vote upon
IT, In IKE manner, If man directs his executors to
sell ms land and to divide the proceeds aonr his ren
uons they have certainly interest III the land; vet il
personal nterestits not real estac-it passes to
executors Instead OF Heirs and of those Interested
IN 1T would be entitled TO upon it, Whatever then
according to law, constitutes real estate NAV under th
tate cannot. 70
limnst be conceded. them that what was not deemed
@ 80 M Vr an interest IN lands at the time of the adop
toh Oh the Constitution, such an interest as
inc clause implies. The Banks were all i'm existence
AT the Tune oil lis adoption, and their stock was then
estate, ana not deemed by law interest in
lands 10 TINS state OF things the Convention must have
looked and cannot have regarded that as an interest in
ahds winch was, by law, held and declared to be nor
sonal estate In requiring the voter TO have an interest
IN lands OF course required that he should have that
Wnich INC taic deems an interest in lands
we may proceed step iarthcr.-Though the Ieqsla-
lure cannot change the elective franchise it has an
restricted right TO declare what shall or shall moi cons
tute an interest in lands And when the interest in the
iahd Itself destroyed and converted into personal in
!est' Tue right Oh suffrage depending it, gone be-
cause the voter has longer that ecies OF interest
ISh Siye~ ~" rSq"isiie oYidonc Of ailaei
nen 20 me Commonwealth, which the object of the
freehold qualification
But whether the Legislature could aId TO the instnn
ccs IN which interest in real estate is considered m
personally or not 1t Is not necessary enquire There
can be no doubt that they 20 east as far as the
law mad gone ct the time Of the adoption of the Cons
tuon AND as corporation stock was then personal es
e mere can be no inracton of the Constitution upon
the creation ofany new corporation, declaring that its
Indeed, independent OF Legislative enactment il IS oh
Vous mat 'hc interest of the stockholders is but MR.
sOnHt interest. Legally speaking the stakeholder of
oanA' OF other corporate body, has, in his individual
Character no interest whatever IN i0nd The tile is ves
cd III the corporation 1t artificial person
TO The law and to the trainers of the Constitution In
that artificial person, the title to the property is as dis
nct from The individual title of its members as the title
OF one man is from that of another The stochoders
arc JOINT tenants or tenants in common for the
ute is not III them at all They have no possession or
right To possession individuals either in seyernv
JOINT tenancy, or IN common If they enter unon lie
resident ana Directors they are trespassers and liable
10 an ACTON as sucb whereas Joint tenant or tenant i'm
common, has the right share the possession Of tho
cal property The stakeholder cannot then be said 10
ne possessed as tenant in common or as Joint tenant Of
an interest IN land, and to have freehold therein" He
mas IN truth, only personal interest If he dies bia
STOCK goes 10 ms executor personal estate and not to
his heir as realty The interest in the land suc 10
vested IN the executor Has he then a freehold and ;.
right TO vote upon this interest If not it can only be
because iie interest Is PERSONAL and not such free
mold as The Constitution contemplated for h has all lilo
rights which the stakeholder himself had
III the doctrine on this subject were otherwise if the
~ pank were deemed to have freehold in
crest III land then would follow consequence that
toTegHeTS could not hOd bank stack or rather flat ,er
neTest as stockholders in the real estate of the
lon would be Forfeited to the Commonwealth bv cecbot
las such thing been dreamed Of? Iapnrebcnd not
according to the technical principles of law stock
hoder has not, IN his individual character an inter
est In land, because the estate in The land ie in The 80
Porate body as such, still less can it be affirmed tbat
they have such an interest in the estimation of tbc
r"heIS oi ule constitutions for, provision is mad,
lor the case Oy that instrument, although there were
at that tlnlc, many corporations in Virgina A nd
ihoecd may safely be said that far from coulempat
ing the right oil corporation to vote such a suggestion
would at once have excited all those wakefl ;nIonss
OF corporations, for Which people and their
tauVes nave been so remarkable. Such proposition
would have been received with indignation And cvcn
mere, we should be startled at the proposition 10 rive n
inc PRESIDENT and Directors the power to WELD
votes as ticir real estate would cniie them To- Yet tLe
eFi would bc scarcely less IT the power 90 vote resided
III ne otorkhoders; for although if the real estate be
sucicHt 10 give 70 each vote they would vote coma,
ratey, ana thus might ount,ba ance each ofer. vol !,
De suhccnt, the entire votes 10 which tcv
entitled must be directed by the majority aud ,cnnd
mus DC thrown IN solid masses upon sirqle candidate
ana produce That overwhelming or controliine influence
IN cecohs winch We, least OF all desire to see i'm Tho
possession OF a monicd monopoly.
cannot, tlcn, believe unt tic Constitution eyer con,
tmPiaea Tue existence Of tie right now believe for
the hrsl ume, asserted And IL its obvious design bc
once departed iron u its simplicity is to be refined nvav
as our passions or political feelings may prompt il moi
easy 70 perceive To what extent may be undermined
Innovation alter innovation will be introduced until t
last us sanitary barriers will be broken down. aud uni
versa suffrage, ~ ITS worst 0!n will enter at The breach
trust Therefore, that candid and Gnimpas on n
Dot parties viii calmly examine the question bef. re-
SUCH practice becomes established as a precedent
a.
.,,,, MN, ,.,,,,,.>, 800 FOR TIE EyvQUiRER
TO THE DEMOCRACY or VIRGINTALfNn III I
Can you suffer yourselves Fellow. tizcns 10
the scenes which occurred during the memorable yoe
WIN any degree OF sclfcomposure2 The hue and CIV
which was raised by the Bank and its lection of denI
NH nd