The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-04-13

OLtne etRle, bnau De equally ulstr1Duted
over . period d, at lastiwe1ty years.
8, Tie power Of taxation Of the Legs.
lRt1re shall extendto provisions for The
payment OF the State debt, and interest
thereon, In support Of free schools and the
payment Of the annual estimsted expenses
Of the State; but whenever any deficiency
in the revenue shall exist In any year, 4
shall, at the regular session thereof held
next after the deficiency occurs, levy a
tax for the ensuing year, sufficient, with
the other sources Of income, TO meet such
deficiency, as well as tho estimated OK,
penses Of such year, ~ IN ~
Q. The credit Of the State shah not be
granted 10, or In aid Of any county, city
township, corporation, or person; nor
shall the State ever assume or become re,
sponsible for the debts or liabilities Of any
county, city, town, township, corporation
or person; nor shall the State ever here
AFTER become a joint owner or stakeholder
In any company or association, In this
State or elsewhere, formed Tor any pur.
pose whatever a. -l,
~. County authorities shall never Assess
taxes, In any one year, the aggregate oil
which shall exceed ninety.flve cents pei
one hundred dollars valuation, except FOL
the support Of free schools, payment Of
Indebtedness existing at tho time Of
the adoption OF this constitution; and
for the payment Of any Indebtedness
with the interest thereon, created under
the succeeding section, unless snch assess.
'ment, with all questions involving the In.
crease Of such aggregate, shall. have been
submitted 10 the vote Of tho people Of the
county, and have received three.fGLhs Of
all the votes cast for and againstit.
II 8. No county, city, school district, OF
municipal corporation, except in cases
where such corporations have already au'
thorized their bonds to he issued, shall
hereafterbe allowed TO become indebted
In any manner, or for any purpose, to IN
amount, including existing indebtedness,
In the aggregate, exceeding five per
centum on the value Of the taxable prop,
erty therein, to be ascertained by the last
assessment for State and county taxes,
previous to the incurriug Of such indebt.
edness, nor without, at the same time
providing for the collection OF q direct
annual tax, sufficient TO pay annually the
interest on such debt, and the principal
thereof, within, and not exceeding thirty.
four years. Pfopided, That no debt shall
be contracted under this section, unless
all questions connected with the same
shall have been first submitted 10 q vote
Of the people, and have received three
fifths Of all the votes cast for and against
the same.
0. The Legislature may, by law, author
lie sthe corporate authorizes OF cities,
towns, and villages, for corporate pur'
poses, 10 assess and cOllecttaxes; but such
taxes shall be uniform, with respect to
persons and property within the jurisdic.
ton Of the authority imposing the same,
10 ARTICLE Xl.
CORPORATIONS.
1. The Legislature shall provide for the
organization Of all corporations hereafter
toll be created, by general laws, uniform
as to the class to which they relate; but no
corporation shall be created by special
law: Provided, That nothing in this sec.
ton contained, shall prevent the legisla.
ture from providing by special laws for
the connection, by canal, OF the waters Of
the Chesapeake with the Ohio river by
the line OF the James river, Grenbrier,
New River and the Great Kanawha.
Q. The stockholders OF all corporations;
and joint stock companies, except banks
and banking institutions, created by the
laws OF this State, shall be liable for the
Indebtedness Of such corporations to tho
amount Of the stock subscribed and I'M
paid, and no more. 'arT rra"
8. All existing charters or grants Of
special or exclusive privileges, under
which organization shall not have taken
place, or which shall not have been In op.
Grafton within two years from the time
this constitution takes effect, shall there.
after have no validity or effect whatever
PROVIDED, That nothing herein shall pre-
vent the execution oil any bona fde con.
tract heretofore lawfully made in relation
TO any existing charter or grant in this
State.
A. The Legislature shall provide by
law, that in all elections for directors or
managers ofinCorporated companies every
stakeholder shall have the tight TO vote
in person, or by proxy, for the number Of
shares Of stock owned by him, TOR as
many persons as there are directors OF
managers to be elected, or to cumulate
said shares, and give 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
directors or managers shall not be elected
In any other manner.
Is. No law shall be passed by the Leg.
stature, granting the right to construct
and operate q street railroad within any
city, town or Incorporated village, with.
out requiring the consent Of the'local au'
thorities having the control of the street
or highway, proposed to be occupied by
such street railroad. 500 atlF
BANKS. TI-f.Iss
Q. The Legislature may provide, by 6
general banking law, for the creation and
organization Of banks Of issue or circula
ton, but the stockholders Of any bank
hereafter authorized by laws Of this
State, whether of issue, deposit or dis
count, shall be personally liable to the
creditors thereof, over and above the
amount Of stock held by them respective
ly, to an amount equal to their respective
shares, SO held, ior all its liabilities accru
ing while they are such stockholders.
RAILROADS.
Z. Every railroad corporation, organ
lied, or doing business in this State, shal
annually, by their proper officers, make {
report, under oath, TO the Auditor o
Public Accounts, Of this State, or somt
officer to be designated by law, setting
forth the condition Of their affairs, thu
operations OF the year, and such othel
matters relating. to their respective rail
roads as may be prescribed by law. Thu
2 ~. Il. II T. -