Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1872-05-04

one candidate as many votes as the number OF
directors, multiplied by the number of his
shares of stock, shall equal, or to distribute
them on the same principle among as many
candidates as he shall think fit; and such direc-
tors or managers shall not be elected in any
other manner.
5. Ne law shall be passed by the Legislature
granting the right to construct and operate
street railroad within anv city, town, or incor-
porated villagewithut requiring the consent
of the local authorities having the control OF
tho steet or highway proposed to be occupied
by such street railroad.
BANKS.
g. The Legislature may provide, by gen.
eral banking law, for the creation and organi-
zation of banks of issue or circulation; but
the stockholders Of any bank hereafter authorl-
zed by laws of this State whether OF issue,
deposit or discount, shall be personally, liable
to the ccreditors thereof over ana above the
amount of stock held by them respectively, to
an amount equal to their respective shares so
held for all its liabilities accruing while they
are such stockholders.
RAILROADS
7. Every railrord corporation, organized or
doing business in this State, shall annually, by
their proper officers make report, under oath,
to the auditor Of public accounts Of this State,
or some officer designated by law, setting forth
the condition Of their affairs, the operations Of
the year, and such other matters relating to
their respective railroads as may be prescribed
by law. The Legislature shall pass laws to
enforce, by suitable penalties, the provisions of
this section.
s. The rolling stock and all other movable
property belonging to any railroad company
or corporationin this State, shall be considered
personal property, and shall be liable to execu-
ton and sale, in the same manner as the perso-
nal property of individuals and the Legisla-
ture shall pass no law exempting any such
property from execution and sale.
Q. Railroads heretofore constructed, or that
may hereafter be constructed in this State, are
hereby declared public highways, and shall be
free to all persons for transportation of their
persons and property thereon under such regu-
latons as shall be prescribed by law; and the
Legislature shall, from time to time, pass laws
applicable to all railroad corporations in the
State establishing reasonable maximum rates
of charges for the transportation of passengers
and freights, and providing for the correction
Of abuses, the prevention Of unjust discrmina-
ton between through and local or way freight
and passenger tariffs, and for the protection of
the Just rights of the public, and shall enforce
such laws by adequate penalties.
10. The Legislature shall, in the law regu-
lating railway companies, require railroads
running through, or within r half mile Of
town or village containing three hundred or
more inhabitants, to establish stations for the
accommodation Of the trade and travel Of said
town or village.
II. No railroad corporation shall consolidate
its stock, property or franchise, with any other
railroad, owning a parallel or competing line,
or obtain the possession or control Of such par
allel or competing lines by lease or contract,
without permission Of the Legislature.
-. The exercise Of the power and the right
of eminent domain shall never be so construed,
or abridged, as to prevent the taking, by the
Legislature. of the property and franchise Of
incorporated companies, already organized, and
subjecting them to the public use, the same as
Of individuals.
ARTICLE XII.
EDUCATION.
l. The Legislature shall provide, by general
law, for thorough aud efficient system Of free
schools.
3 The State Superintendent Of Free Schools
shall have general supervision Of free schools,
and perform such other duties in relation there (
to as may be prescribed by law. Ifin the per-
formance Of any such duty imposed upon him
by the Legislature be shall incur any expenses,
he shall be reimbursed therefor: Procided, /
The amount does not exceed five hundred dol /
lars in any one year.
o L. I ,.ro,r;Ia f,r ~ 80
and such other officers as may /
be necessary to carry out the objects of this ar
ticle, and define their duties, powers and COM
pensation.
4. The existing permanent and invested /
School Fund, and all money accruing to this /
State from forfeited, delinquent, waste aud un-
appropriated lands, and from lands heretofore /
sold for taxes and purchased by the State Of
Virginia, if hereafter redeemed, or sold to 9TH
ers than this State; all grants, devises or be-
quests that may be made 10 this State for the
purposes Of education, or where the purposes
Of such grants, devises or bequests are not spe-
Gifted this States just share Of the literary
fund Of Virginia, whether paid over or other
wise liquidated, and any sums Of money, stock
or property which this State shall have the
ISut W Nldlul Iulll tIt DlAlS Va 'HFahiH iY'
purposes; the proceeds Of the es-
-ates Of persons who may die without leaving
a will or heir, and Of all escheated lands tho
proceeds Of any taxes that may be levied on
he revenues Of any corporation all moneys
hat may be paid as an equivalent for exemp-
lion from military duty, and such sums as may,
rom time TO time, be appropriated by the Le-
'gislature for the purpose shall be set apart as
separate fund, TO be called the "School Fund,
md invested under such regulations as may be
prescribed by law in the interest bearing Sc
,urties of the United States, or Of this State,
" if such interest bearing securities cannot be
obtained, then said School Fund shall be in
rested in such other solvent interest bearing
securities as shall be approved by the Cover
Tor, Superintendent Of Free Schools, Auditor
md Treasurer, who are hereby constituted the
. Board Of the School Fund, to manage the
ane under such regulations as may be pre-
eribed by law aud the interest thereof shall
,e annually applied TO the support Of free
chools throughout the State, and 10 no other
purpose whatever But any portion Of said
interest remaining unezpended at the close Of
fiscal year shall be added 10, and remain
,art Of, the capital Of the Schoo! Fund.- Pro-
ided, That all the taxes which shall be receiv-
d by the State upon delinquent lands, eE-
ept the taxes due to the State thereon, shall
,e refunded TO the county or district by or FOR
which the same were levied.
5. The Legislature shall proYile for tho
uppoTt Of Free Schools by appropriaiing