Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1851-01-22

ter of the P0t0moC I0suro0Ce con- ny Ot GeOrge
Town. D, Gu sec. a. reported the commits
sioners 10 revise the laws, read a. lows: ~sucl
corporation NAV exempt the privat property Of il.
members from liability to corporsts4 ebts, by pro
vision Il mat eject n lis articles corporation
hut smniect 10 the nroyisions Of thi hsp,er in rcla
i tion thersto.n observe Nj. Edst0 Mat the above
4 section Contained M, ultcbtfv 10 mounf AZ stocl
) snbscribed.,, ssnor anv severe PEN clawse.s Mr.
Il Eyiu,,s amendment 70 sec ., strike sec sand IN
! .er ne r.,lovino. sssuch cOrpou shall not ex.
4 em,,s ehe nr,vate prouerty Of its ers from lila.
biIitv 10 corporate debla but eac holder shall
be lndjy idual)y liable for oil the such cor.
i noration,,. Ohserye here Mr.. al this sec.
4 ION ,pns offered ,vhen The fri law az /,
came nom the hsu.is OF the, 1 y, wers
\ contentiins thai he ccrroS1 III Sn deb
without limit.
4 Amend,mc nj made "A 49, ~ ia.
ltiyes Ia tha,ssSet 10 - ssssS7 khe
charter ~ TIA 81 a.
~ GeOrgefown.D pl1
8itfurthkf enatzs
Il pan7 49, 4l5
Il said r. L. - 49, IM.
ycuIo ~ M ~
Il Cass - - - z , f,'. - - 1884, l,-
\ il is only sse1ee.es0y &nos &1Ouse 49,
biisty, and bcffs< sOf the revised cod ~
satisfied tho Amess =. ..a..,l. ,frnr~
| reap the advantage ST n
that when body Of Il VI Satd 0nep9 oi
corporation to carry OF rs9fssssls hou'o
take It with the same liaesA.a =. i. tney
| manage their private tusis, W Isuggest
the ItrinCipIe, anu In0he w ssS
suggestion of the honorable Sc vrgion'
which is, that the people Of GcoE, having ask
ed this form ola charter, we sh We II mem
Mr.. President, here IS great prseR involved IN
TINS natter. Are we under ony ~ o' op'iBasiohs
to vote Tor Charter contrauscttng pfincipic, Oe-
cause we are asked for it9 The pr .ple "a greater
than any application. A. mas oeen correct'y ask.
ca, II there is no RISK, whefe Is Tue injury. anu
there IS risk tnnse VINO reap the aavanages
should run the risk" The Senate concurred IN the
! e.
Cd the position taken by sieh. Cass' ana voted inc
individuai iiahity clause IN as saong language as
that contained in Mr.. Fiints amendment TO our in
corporation law. But It may he said that TINS vote
was RECONSTRUCTED, ana ul1ereh' seclon inseteu.
! What does this prove? nothing at all. MT. Cass
! spoke to the original amendment and the princi-
pies contained IN tue remarks maue oy MT: lass are
nnf changed by thc action OF the senate. inha' an"
bcievc all VINO have had any experience IN regis
iaion have iound' that 'hey canno.at all umcs get
laws enacted IN accordance win ',eir pr'nc'res-
Nos. Mr.. I,itor will vm, he SO KIND an 10 inform
me whether the following language used in your ar
t'cic was intended 70 apply 10 Get LASS Mr. DOT
IN The prc sent House Of
Of the state Of Iowa9 slt is therefore plainly to be
! seen .hat az tne democratic mem'ess OCCUPY uem
orttem hare oone bevond II and eretsd platform 81
their ocn." Your answer to that Iortion Of the a
Dove ex!ract 10 na'lc Is parucn,a' leqaes.ea
the balance OF The aeioaieea Dcsoer VI On, willing
10 compromise the subject under confederation dn.
,, .a.a. MauO uIo" ~. ,,,, :,n., !" =.
they p,easeshall be individually liable TO the a.
mount OF stock subscribed, and at NJ time OF sub
scno'ng STOCK sha.l p'e"ee Iea. eshs sec...y' Sc
ment Of the xtock subscribed m csS il should bt
needed TO pay the debts of the t"paration. Tha
.le s.ocNso'uers s"aaI ~ rv .s '..
tor stock subscriber and ilat am as {n.ent Of ID,
4 suck shaii not refease shc origtE stockhoider'
ne .,ncrhn;,,ors !, nv inc "e ~ sr,n,en on}
that each assignee shall be indvidually liable rol
the amount Of stock to him assighed. Upon these
a,.mrs;n .'' ~ .';,se ,a;s ,omn ~" ~ Co.
Cass the .eicheeu Denoc,ais canno, and will moi
concede any more. Respectfully yours.
-
,.-,n n;,;nr n,,,,;.;,, >, ,,,. ,,.o.. coum,,;c,
,,on i, NAV IN noc..sar,. - ,or,c,, s.v or -,
gross mis.s,,temen,s. WI, 10 eeoer,, a;c,ori,
. .bv ,,ho,;,v,, tone ,y. h,vo no,h;,n % ,o
rb,, .,,,e ~ ,,va,. ,r;.. q. ovr nall,
"a' % a'e.a''on Always carries us own p'''a
1--WE % we car o. the sensible reader
Tho ,m,...s;o. 49,, ~. &C.. -. ..n,
me impression ina. me n''een Democrats VINO
voted Tor limited liability did SO only ''"he'
,n ., .ouna Mey 'ou's ~ 10 oe"el i"', '
~ 49, '.r'.ra " -. p.',e'o. ".''
. us ""...ser ms = e.os''y 'n'0',ee' anu a
s"en Is an a'.e"p 70 cast s.'sma upon NOSE De"
.f',s' V''''s'"r 'n''''"ua "ao''''y' wh'en he''ne
W. nAnn'ii' "of any o''ef man can suoS'ah''a''
lus'"s.
~ ""a' '"o aoo'c "i"er says aoou' our mss
81" e"e"'s' '.'a'''e 'o',". u"'''ona' s"''"S
u''"o"s'' "''''s' u''o''ueu '''' OUT not a'op'eu
W., s,S'oNs 1"'."'e"', VIC "aa 'o''se'e
A'o' e :" '"' 'a"s "''''e'' :
=" "A'rp'e"s""s ou' 'e"a'"
' -" "o"s wy 'n'ea partner
"f'' ~" - ehec'tne suojee
u"..' .""'''e.'''o"' we s'a'ea'"e 1no II I'M
''1"u
..e, 4" 'S1'
Z ...s,,.p ~, - a '''o" :
-, ...-.....,,... -. ,.'' 80 estls
hoo, - ~. CO.. 4. 49,. N4v1en IT,
. ~, ), ,;.,,.., .o4Irst and &c
: Sed 70 seIer i0i,
!, -, m0ittee IN public
! =. ssrs 8.
( 49,, =. :. - n. with 1eate introd,
|. - 80. ,.v /. sk4 an ACT 10 ldcNe. 81
". 80. ..hnk 49,. R.,ck in Ala, ee ,
4 democr.,icSJs-s 4 ,k;o.on in Mahs \n
y Iowa city,, Who awerA ,...e...,.,d Il No
) Union denouAcin. y,cr.s5& -, -
!, bend who his impusssiops ar:,.ev.l