Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1863-04-24

loving sensible remarks OF w llllan brigham,
Esq, made by him before the legislative COM
mittee having this question before it, on the
18th inst. 1t touches upon its bearings on
our local interests in regard to which we have
not felt it necessary for us to say much. We
have never doubted that large majority of
our citizens were duly sensible of what its In
evitable effect would be upon this city, and
the railways which centre here. They know
this city would cease to be terminus, and sink
into a simple way station on the Boston and
Albany road, with all its accommodations and
concerns dependent upon men who would be
impelled by very strong personal considera-
tons to care far more for other localities and
who have never been suspected of friendly
regards for Worcester. When citizen of
Boston sees and speaks of these local matters,
he will not be thought to be moved by per-
sonal considerations, and he has a right to be
heard:
Mr.. Chairman: appear before you not as
an attorney for any person or corporation, but
as citizen OF the commonwealth having no
other object in view than to promote its pros
perty and to protect its great interests. The
bill now before you was introduced by one of
your own number, a state director of the West
ern railroad, and is aided by no petition ex-
cept petition of the joint committees of the
w eStern and Worcester roadS-ehosen at the
annual meetings of these corporations without
any specific notice that such committees were
to be SO chosen. The petition Of the Western
railroad, which has been published in the
public papers, cannot justly be regarded as a
petition for this purpose, because its chief end
and aim seems to have been to obtain the right
to build parallel road to Boston, competing
with the Worcester road and threatening to
injure it. 1t is true that at the end of the pc
tltlon it asks permission to connect with any
other road, but it does not deign to mention
the Worcester road by name, and the public
might with much greater reason infer that it
was lnteaded to connect with the Grand juno
ton, Fitchburg, or some other road, rather
than to swallow up entire road which it
seems so anxious to injure.
Ii the laws Of the commonwealth are to be
observed by this committee, and thes same JUS
tice meted out to these petitioners which other
more humble petitioners receive, then the
committee must report against this bill, and
that these petitioners have leave to withdraw.
The general statutes, chapter 2, section s,
and the statute of 1862, chapter 81, make it
imperative that no petition shall be heard, or
legislation had, affecting private rights and
interests unless notice thereof is published
either before or during the first month of the
session. In this case the petition was notpre-
scented until the 8th day of April, the fourth
month of the session, and if the laws of the
commonwealth are to be observed, then no
action can be had on the subject.
But it is said the legislature may repeal
this law. | have do doubt of it; but until it
is repealed every department OF the govern
ment is bound to obey it. Law makers should
not be law breakers, The fact that the stock
holders are hereafter to vote upon it, makes
no difference. The legislature have no right
to expose the humblest of these stockholders
to an injury without giving him an opportuni-
ty to be heard.
1t seems rather singular that there should
be such hot haste to accomplish this union,
or to pass an enabling act by which it may
be done. The next legislature will come
together in about eight months, during
which time everybody can be notified, and
no one can then have any right to com
plain that he did not have an opportunity to
protect his interest. If it goes to the next
it may be passed without the vio
lation Of one ofthe most judicious laws upon
the statute book.
But l am opposed to this union on the
ground OF public policy. If it were Il mere
question whether the stock would be more or
less valuable, | should not trouble you for a
moment, but leave that to the stockholders to
solve among themselves. But the public
have an interest in this matter paramount to
that of the stockholders themselves.
Shall the union of these two roads be au-
thorized? And if SO, upon what terms? This
cannot safely be left to the stockholders; the
public have deep interest. BY the terms of
the act of incorporation the state may pur-
chase the Worcester road and its franchise by
paying the stockholders at the rate of ten per
cent. for their investment. The same terms
were prescribed for the Western road by the
original act of incorporation, but by the spe-
cial act of 1889, chap. 20, granting aid to that
corporation this provision was changed, and
and the state may now purchase the Western
railroad by paying seven per cent. on their
investment. THIS act, together with the aid
il offered, was accepted by the corporation,
and is now binding on it. And the state have
now the right to purchase the whole Of the
Western railroad, paying the stockholders
seven per cent. on their investment and
since they have received for some years past
eight per cent. on their stock, and the same is
now selling for premium of fifty per cent,
it requires no very great effort to see that the
state could now purchase the road at a hand
some profit of some millions, and thereby re-
plenish the treasury and save the heavy taxa
ton which is impending over us. Nor is there
anything unjust in this, for the state would do
no more than the stockholders agreed it might
do, and they on the other hand would have
made an investment for 25 years at seven per
cent.
In any event it seems to me that the legis-
lature should not throw away this vast inter.
est by passing new act which wholly ignores
this right of purchase.
1t seems to me that the union of these two
roads is contrary to the public policy of this
commonwealth. 1t would create a new cor
poration with capital of ten million OF dol
iars-extending its road from the city of Bos-
ton through the whole state to the city of
Albany, thereby affecting the interest, COM
fort, and convenience of half the people of
the state. 1t needs no gift of prophecy to see
what will be the influence of such corpora
ton upon the legislation of the common
wealth; especially when the interests of the
road are concerned, and when any other roads
are proposed, Which by any possibility could
become competing lines with this united road.
In 1886 the legislature rejected the ten mil
lion bank, because they had fears of the infiu-
ence and power Of SO large corporation; is
ten million railroad less dangerous than a
ten million bank? In its political influence