Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1848-02-03
SENATE.
THURSDAY, j,

THURSDAY, January ~, 1915.
The Senate called to order, and the journal Of the
preceding day read.
On motion of Mr.. Davis, bill amend granting
the citizens Of Evansville city charter, up
aud on Its third reading passed.
Petitions presented
By Messrs Osborn Holloway, which referred ap
pTOpiiate committees
Mr. Murray moved to take up the message Of the Govern
or, returning bill to amend act entitled
porale White Water Valley canal company, with his
reason. for veoing same, which carried by consent
The bill provided for the surg of bonds for the purpose Of
repairing the damages done TO The canal by the high waters
call Of the had, and all the Senators berg
in Their places Mr. Wapole said that he opposed the
passage of the BILL and had he been present at the time Of
its would have voted against it, for the
assigned by the Governor but because issue
unlimited quantity Of scrip for the bonds nothing
county with iredeemable paper. II bonds be
issued he wanted the restricted in amount, aud the
guards thrown around them the hold
ers Of such bonds fiom losing aud being swindled
Mr. Murphy said that he did not intend debate the
ton the merits Of The bill But he thought that Mr.
Wspole somewhat mistaken IN his views OF the pi0y
Of The bill Ii did restrict the amount Of bonds
issued repair the canal, aud
expressly provided that they should be used circula
ting medium They stock bonds 10 be sold puTcha
Mr. Holloway sustained bill remarks giving
statement Of the situation Of the work He regretted that
against large majority appeared ia
Of the BILL had thought h for he thought
that without the passage Of the BILL similar in its pro-
Visions the could not be repaired, and import
large PARTON OF eastern Indiana, that the work
should be repaired 10 give them facilities for transports
ing their large amount Of surplus produce to an advantageous
market: he hoped the bill would pass.
McCsry said that he DESTROYS that the canal
should be repaired and its usefulness restoed He had OPP
posed the amendment by which the interest Of the State
original grant TO be surrendered 10 this
corpoI aon. He had discovered too liberal spirit in the
grant Of corporate privileges. provision by which the
profits cent on the moneys expended BY the com
pany are 10 paid into the State treasury repealed.
This vas virtual surrender Of over million Of public
ey these coporaors he was opposed 10 It also because
removed restraint from the company Ia regard to tolls
They might make the tolls exorbant-his is left solely
the company, if it desired might be exercised.
Aud knowing that the wealth of the company cannot be
increased except the expense OF the people, he would
not consent hat the people the valley should left
mercy Of company The dividends might at very
distant day 80 per cent the money expended
and he the State have benefit for the
muney she expended if such should be the He had
other objections in his anxiety TO give all needul
to the company he waived minor objections.
Mr.. Miikiu thought that MIR. McCaIty came here with
feelings hostile Of the company, from the fact
Of his having been employed in suits growing out Of
difficulties between citizens Of his and the company
He thought the wok of importance and that IN
order 10 repaired the State should extend fostering
and ia placing again in order, II c"ud be
done without piejudicing the interests OF the STATE lie
could tina, would prejudice the interests Of the
State II work To- be profitable as suggested by
Mr. MeCay, the stock would soou, instead oil being worth
50 40 the dollar, lis present worth, command
and the light being reserved TO The State take
back the work. could any time when TO her interest
so t do take the work and dispose uf company
thus receiving back the eleven bundled thousand dollars
she expended on the work and han profit besides
He was influence Of the executive this
aoo Senators voted against bill, and he anxou.
10 see would the beck Of the Governor change
their positions the question: The objection taken tina
there was security provided for the payment Of the bonds
was not valid The purchasers would themselves
in this natter they not generally blind 10 their own in
tees and would he had doubt before they purchased
make the proper provisions in this ma,ter
Mr. Ellis thought that there danger Of the bond
becoming circulating medium, and he thought there wal
sufficient restriction il regard To the amount OF bonds to b
is.ued and If they than the
10 reoair the canal they could at any time be restrained
The proper cout justice for violating the provisions OF th
.
Ne wincheil said that he lived far distant from the wor
b. he felt il duty assist the citizens VI that part OF tn
cuuty they asked loan o the State VI Indiana, but
n. ,wed to make issue Of bonds bring into activity
uess capital There danger Of the country bsiu