Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1846-03-04
LEGISLATIVE. {.
HOUSE.
February "a.
RAILROAD SALE.


HE HAD CONVERSEI
WITH THE AGENT OF THE PURCHA
SERS. He thought the agent mas moi positive
instructed on this point. but it acas doubtful cheth
err the company ,could accept if the amendment
,cere adopted. The purchasers had not anticipa
tod such heavy taxes. The eastern Railroad!
paid much lightertaxes. He feared that i, nigh
defeat the sale and so dissasfy their constituents
Mr.. Edmnnds said that he had offered this sub
siitule because he thought the bill too indefinite
He would not embarass. much less deieal a sale
He would rather reduce the per centage than re-
tain the aggregate amount as fixed in the BILL
But he would withdraw his substitute TO allow the
committee TO frame some satisfactory amendment
Of their own.
The section was passed over 10 enable Mr..
Hand to prepare a substitute.
Mr.. Peck moved to strike out the 10 per cent
required to be paid in addition to The market value
of the stock.
Mr.. Ames said it was understood that this was
the saving clause Of The bill--to avoid repeal
log clause. this had been offered as substitute
for that, aud II was the only power aver The cor
poratiop, which the State reserved. He enlarg-
ed also on the power Of the corporation to raise
the market price of their stock at will.
ItCh ifsfstcu dt ItflBtu vi CuPoS"y :"
control the "market value" The re-purchase
would be matter of noiofiety, and the Company
would be prepared for it.
This debate occupied the greater part Of The
day, and the loss of Mr.. Pecl1's amendment aud
the adoption of substitute that the re-purchase
money shall not be less than The capital stock paid
in.
Mr.. Hand then offered new section, require
h., Il or
no higher rares than the eastern and southren
roads.
Mr.. Noble objected to it, and suggested that
The rates be fixed by commissioners appointed BY
The Governor. He said the roads selected for the
standard were the highest IN their charges.
Mr.. Hand replied that the provision suggested
had been found mpracucable in New York
Mr. Noble then moved In amend by making the
railroads from Albany to Buffalo. and from Alba
ny 10 Boston as the standard--lost
Tine section as then proposed by Mr.. Hand was
hen adopted Also 10 amendment to the bill ex-
ending the time for new lroniug The Railroad III
case Of war with any European power. Also
m amendment giving priurily IN transportation
o the miltiary,arms &c. Of this state and the Unit
ed Stntes.
Mr. Hand offered new section authorizing Inc
III DttTUu W COuSiTuCt idieIdi tidCh dIOhS
he streets and wharves to Connect with the eastern
lepot.
Mr.. Crazy proposed TO amend 50 as 10 allow
his to be done along the entire line.
Mr. Fl. replied that this would eudanger the
afe running of cars, exposing life AN property.
Mr.. Blair thought that some provision was
the ugh thus might be too unlimited. :
Perhaps It would be sufficient, as suggested b,
md al.
But certainly something should be provide IN re-
.ard to business points.
Mr.. Groves then moved similar provision in
egard to The western termination speaking al
ome length in its favor.
Mr.. Edmunds offered substitute pro, idng for
ide tracks at 'he depots along the lie, which
vas accepted by Mr.. GroveS.-Adopts d.
MIR. Hands amendment as amended by Wr.
1dmunds was then adopted.
Mr.. Hand then moved to include iron, fish. SUI
,ar, molasses,, &C., among the articles subject
o reduced tolls.
Mr.. Speaker moved to amend so that the assess
nent of damages BE- made by three persons appoint
ID by the presiding Jndge instead of jury. H.
aid it would be cheaper and mrre satisfactory.
Mr.. Hand defended the origi,al prop sili"n.-
Is for the expoase,h would be paid by The Cum
vas found satisfactory.
Mr.. Noble read from New York charter 10
how the mode adopted there, aud pointed out its
Inference from the one In this bill. He commended
hat it was much more guarded and equitable in
arious points.
The committee rose withou, taking the question.
The House then apjourned.
FEBRUARY 25
RAILROAD SALE.
The House renewed in committee of the whole |
he consideration of the Railroad sale bill.
Mr.. Speaker Withdrew his amendment to the |
III section, and Mr.. Hand offered substitute.
which was adopted. Ii auhorizes an issue of
neDt.
Mr.. Hand moved to insert ''Coa" among the |
rtices subject 10 reduced duties.
Mr. Crary offered new section inhibiting the
ompany from paving out any funds except specie
r its equivalent, beng at par in New York and
soston deducung the difference belw cen specie in
hose cities and Detroit. He urged the necessity
{ such provision as the company would be a.
lie to CONTROL the currency.
The amendment was then rejected.
Mr.. Speaker offered new section making
he company liable 10 an action of trespass on the
ase for all damages done by themselves or their
gents. Adopted.
Mr. Speaker moved that the company should
e subject 10 ali the duties and liabilities imposed
pom corporations by the revised Statutes or The
mendaiory acts.
Mr.. Walker opposed The amendment as equiv
lent to repeating clause. 1t an attempt
D do indirectly what the House would not direct.
y.
Mr.. Hand read the provisions OF the revised
tautes To show that thew were provided for in |