The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-01-27
HARRISBURG,

tea-Tao hoOsters Win "a Temporary victory
-Tho Philadelphia and RuropeaU steamship
COmDany-The Passage Of the BnI Haited BY
DtsaGected PhilRdeIphtass a Legal ObiiRa-
ton IN the Way-The Bonds In the sinking
Fuud-A Proposed Unprshtabie speculation
The AudttOr-taeneralship- 90 The Candidates
Putting In an AppeRrnnce-The Editorial
Convention.
From Our ovn Correspondent
HARRIsBURG, Jan. 26, 1871.
THE PHUA DBLPHIA AND EUROPEAN STEAMSHIP
CoMPANY-A ROOSTER MOVEMENT SENDS 1T
TO A COMMITTEE.
The first rooster" movement made on the
Hill this session developed ITSELF to-day, on the
bill providing for the incorporation of the Phlla-
delpbia and European Steamship Company.
Had a similar measure with reference to New
York city been introduced in the Albany
Legislature, it would have been a law in re-
msrkably few minutes but here ring must be
formed, whose duty 1t shall be to investigate
whether there are not certain privileges incor-
porated which would warrant at least an effort
to drain some money from the treasury of the
company for the use of certain Of the members.
There is no denying the fact that the proper
course to have been pursued was to have al
lowed the bill to go through the regular chan
nes OF legislation, but in this instance the orga-
nization ia desirous of getting into active ope-
ration as soon possible, and it was conceived
that measure which had been so freely venti-
and which has received such favorable endorse
m mt from he citizens of Philadelphia, would
receive lutte or no opposition from the repre-
sentatiVes of that city. Yet such was the fact
to-day, anu while some of them were undoubt-
edly actuatcd by proper motives, there were
others vho recorded their votes in opposition to
the PROPOSITION for other reasons and these
were the men who were tried at the last session
and found wanting.
Every one can readily understand that the
Pennsylvania Railroad Company, as the heaviest
interested party in the steamship company is
the prime mover in the legislation that is now
solicited. This corporation is anxious to get to
work, and IL seems that the "roosters" in the
House determined that the act Of incor-
poration slall not become law until their
pockets are well filed. That was the secret of
the move to-day to have the bill referred to the
Committee on Corporations. 1t is said that the
subject had been fully discussed by these dis
honest fellows at caucus this morning, know
ing it would come from the Senate this morning,
and that they agreed to "pinch" it. They knew
that If a division of the question were called
they could hide their real intention under the
vote, If the yeas and nays were ordered which
would be ioled by the country members against
general suspension of the rules for the day.
Indeed, one of the Philadelphians expressed
rather publicly on the floor that he'd be id if
su"n ,leges should be given without he being
first "seen"
Some of the remainder of the delegation, dis
covering the disagreeable associations into which
they had forced themselves, are anxious to
relieve themselves of the odium cast upon them
by their votes. Scme explain that they voted
against suspension of the rule because they
had come to Harrisburg with the intention of
ham nna
such proposition, aud others state that they
were induced to vote mo" on the ground that
there had been no consultation among the
Philadelphia members with reference to the
introduction OF the bill.
Since its reference 10 the committee, provi-
sion has been found in 1t exempting the COM
pany from taxation. This, unless changed,
promises to be q bone of contention among the
country members. The more prominent of
them are in favor of eXempting the organza-
tion for period of years. but they will oppose
any attempt to incorporate the clause eXempting
for all time. The decisions of the courts upon
this matteC have been hunted up, and they are
found to be conflicting. The u. s. Supreme
Court have held that the original contract is
binding aud cannot be disturbed, and the
Supreme Courts of Pennsylvania and Ohio have
decided that the original contract is subject to
future legislation. This makes it knotty ques-
tion, and the legal gen tlemepsfrom the country
seem to entertain the opinion thatit will be bet
ter to amend the bill, so as TO exempt the COM
pany for l5 or 20 years. At the meeting of the
Corporation Committee tonight, the Philadel-
phia members who in the morning defeated the
consideration of the bill succeeded in laying 1t
over for the present. Mr.. Reyburn was the only
Philadelphian who voted for reporting it favora-
bly,. The other Philadelphians on the committee
are Albright. Dumbell. Hagar, Duffy, Lamon,
Josephs, and Marshall. Tue two latter gentle
men were absent.
A PROPOSED UNPRoFITABLE SPECULATION.
The bill of Senator Warfel which directs the
Commissioners of the Sinking Fund to dispose
of the bonds now lying in their custody, and
then to purchase with the proceeds, at the
market price, State bonds, is meeting with con-
siderable objection. The Interpretation placed
upon it renders it decidedly obnoxious, as, If it
passes, the 80, 800, 900 now In the sinking fund
will under its provisions. be represented by
only little over SO, 900, 600 in State bonds. 1t
also offers chance, If certain parties were so
disposed, to make one Of the greatest 'steals"
that has yet taken place in Harrisburg. This
process OF defamation Is arrived at in the follow
ing way The bonds are in such large amounts
that it would be possible for only one corpora
tiOn to be bidders.
In this event, that corporation could plausi-
bly, obtain the SO 600, 900 in Pennsylvania Rail-
road bonds for 20 cents on the dollar, which
would amount to "a, ,200, 600, and the $3, 800 900
Allegheny Valley Railroad bonds, which do not
begin to bear interest until 1872 could be as rea-
div procured at 60 cents on the dollar amount
inc IN 40 100 600 This would make Sc 200 600