The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-06-03

shall become the purchasers, "to assign and
transfer their right 10 said Main Line, under
said purchase, 10 any Railroad or Canal Com.
pany created by the laws of this Common
wealth." The privilege of transfer, under
such circumstances, without increasing COM
petition, gives color to the assertion that the
bill has been so framed as to enable private
parties-now engaged in procuring this leg
islation-lo purchase merely for The purpose
of selling at an advance, as an indemnify for
| their services.
I'd. Because, although the bill purpors 10
be sale of the Main Line, it, in realty more
nearly resembles git 10 the Pennsylvania
Railroad Company, if that company should
Obtain it on the terms proposed. The extra
ordinary extension of credit, the low rate of
interest, the release of the tonnage lax, and
the exemption, forever, from all other taxation
or duties for State purposes, will enable that
company 10 liquiduls every dollar of the pur-
chase money before the last payment shall
mature, by merely appropriating, for that
purpose, the taxes from which they are thus
released
3rd. Because the release Of the tonnage
tax is not accompanied with such limitation
upon the future rate of dividends OF said com.
pany, as will cause said release 10 enure to
the benefit Of The trade and commerce of the
State. Such Limitation would be in accord
ance with The original design Of the enter
prising citizens of Philadelphia and Ptsburg,
ard of the various municipalities who sub
scribed so literally 10 The Pennsylvania Rail-
road Company, not expecting or desiring
large dividends upon their investments, but
10 promote the great objects above referred
10.
4h. Because the bill provides that in lhe
event of the Pennsylvania Railroad company
becoming the purchaser, said company shall
not only be exempt from The tonnage tar, now
amounting TO 1926 900 per annum, but that
in addition, it "shaH be released II ON the pay.
ment Of all other ta1es or duties 10 The Common
tceahh on lis capital stock, bonds, dividends or
property" The latter amount, from which The
Pennsylvania Railroad company would be
thus relieved, may be moderately estimated
al one hundred thousand dollars year.
Such an exemption from taxation is not
only without precedent, but should be depre-
Gated as establishing an exceedingly dagger
Gus one and is in violation of that principle
OF equality Of taxation 80 iundamental In oui
form of government.
! 9th. because the bill does not contain q
sufficient guarantee that the Western division
OF Main Line "shaI be kept in good repair
and operating condition )" thus establishing
an invidious distinction between The Eastern
and Western portions Of the State, although
both have contributed rroporlionally TO the
burden of constructing and maintaining the
entire line.
9th. Because the bill does not require that
the President and Directors of the company,
| purchasing said lire, should be citizens and
residents of The State. The importance of
such requirement is manifest from the fact,
that under our general law, only majority
of the Directors of Canal and Railroad COM
panies need be resident citizens; and by some
special charters even ma joriy is not nee.
essary. 10 fact, the management OF several
of these companies is located entirely out OF
the State. Thus, by The provisions of This
bill, The Main Line may pass into the hands
of those whose rival interests and feelings
would not afford any guarantee that il would
be managed so as to subserve the great OBJ.
| jects Of lis construction.
7lh. Because, if the Pennsylvania Railroad
company should become The purchaser, there
should be provision, that the State or The
cities of Philadelphia and Pittsburg, shall re-
tain voice in the direction Of The affairs Of
The Consolidated Line, irrespective Of. and
although they may part with, the stock now
held by them in said company. So important
a work should not be managed as much with
reference to The interest of stockholders, as 10
those g:eat public objects of trade and COM
merce already referred to.
9Th. Because the charter Of any company
purchasing said Main Line is made and de-
clared perpetual; and there is not such a
proper or sufficient reservation of legislative
control as 10 enable the Legislature, in the
future, 10 project the general interests OF the
Commonwealth and her citizens.
VIM. WILKINS,
N. B. BROWNE,
| JOHN CRESSWELL, JR.,
! WIN. Fl. WELSH,
JAS. H. WALTON,
HENRY FETTER,
THOMAS P. KNOX,
JOS. LAUBACH,
JONATHAN ELY,
GEORGE p. STEELE,
JNO. C. EVANS,
GEO. w. BREWER,
RICH. L. WRIGHT,
B The books, papers. drafts, notes oi