Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1853-04-15
VOTE OF THE STATE IN JOINT SToCh COM-


r, ,usa tnre during the las; week o ITS session. Sd"
fit Ia enact bill enlarglng the vote OF the State ana ohe
large scck,0lt.5. in Joint stock companies ic oii a
hoe, ., il ,ba shcc. 10 legislative examination ard re-.
fec,inn and popular rcmonstTancc, II any should s'''
up from ;i:c coun,ry, i"r several months.
|, ia made matter OF grave cehsuTc u the WING press
H., mis- IN, wa passed a, the end "f The session w'cn
there was no opportunity 70: mature deheralo" II u had
been taken up soon after il originated ana pushed
,onpb by marty rally on instant there would have been
so,c rround Tor The complaint Of the Whga The fact that
II was aned 10 remain upon the table Tor the ionges iac-
tcablc period and only taken up near the close o! 'e seq
sion II would seem puts 20 flight Inc charge OF inde
cent hasto il The TIE part OF The democratic
party
The Whp press regard bill! cIetGting IA" head
and bloody feature upon The charters ol JONI S"cN
companies that will prevent private Subscriptions " WORKS
Of Internal Improvement This ugly feature, obnoxious
and orrfyng contemporaries, is no other Than one al,
lowing the State every four shares she owns IN
opt stock Companies where before ehe was allowed bu
vote for every Ten shares This plain OF Justice viii
meet the approval DISTINGUISHED voter IN ;a State
with whom lie complaint against the new law VIII be- hoi
that il increases The vote 81 the State too much but a II
does not 60 fat enough III the matter The Ia" not merely
ac,les the State down her equitable vote bu
contains rorso that the State vote IN meetings o. STOCK
holders shall never exceed thirds The number OF votes
Than the SlalG-hus pcIpctuaiJ
in minority
One Whig Journal the Lyrch5Nrs FiryiHan With very
confused ideas as rc conceive of moral obligation and
nuhIc integrity goes so far express itself thus:
We have olcady expressed the opinion that the principle
which usirs this proceeding, would justify repudniion-
II is faith the individuals who have been
induced TO subscribe their money uter the belief and On The
implied condition. that they should have voice IL the man
| agement oil IN: WORKS
Th.rs is n, ouh, that in the latitude at l. yachhurE the
vote Of the is regarded with decided dsavor hut
are a, loss 70 knu.r by what process of casustry The tg
at,yo act in question be shown 10 be an act OF viz
;ual tsptialion bad faith. We commend The following
csuscs of the Code 10 tho Vrgnian-causcs which have
entered into and part Of all contracts that have been
made between the State companies shareholders o!
companies When The Irgnion shall point out clauses in
the Code authorizing the expressly repudiats
or expressly TO commit bad faith shall concede that
pudiaton and bad faith have resemblance 10 the simple
act of right and Of privilege that has hetn exercised
| bv The State in the ac Of legislation complained of
"he charter OF every compsEy xhch is governed BY the
act passed on llh day of March 1881 prescribing
tain general regulations for the incorporation Of railroad
companies and Of every company hereafter Incorporated
which shall be governed by this charter may Be altered
modified by any ftur. Legislature may TO pro-
Der except that no law shall be passed for taking from
company its works or property without making 1t just
comp for changing its tolls without It's assent
In than such specially provided Tor IN
this chapter" Chapter 81, section 3d. Code, ?. 1928