The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1872-04-13
ARTICLE XII.
CORPORATIONS.

|. The Legislature shall proVlue iof
the organization of all corporations
hereafter to 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 section contained shall
prevent the Legislature from providing
by special laws for the connection sy
canal Of the waters of the Chesapeake
with the Ohio river by the line OF the
James river, Greenbrier, New river and
the Great Kanawha.
2. The stockholders OF all corpora
tons and joint stock companies, except
banks and banking institutions, created
by the laws of this State shall be liable
for the indebtedness of such corpora
tons to the amount Of their stock sub
scribed and unpaid, and no more.
3. All existing charters or grants OF
special or exclusive privileges under
which organization shall not have
taken place, or which shall not have
been 6 operation within two years
from the time this Constitution takes
effect. shall thereafter have no validity
or effect whatever Provided, That
nothing herein shall prevent the execu'
ton OF am bona tide contract heretofore
lawfully made in relation to any exist
ing charter or grant in this State.
I. The Legislature shall provide by
law that in all elections for directors
or managers Of incorporated compa-
nies, every stakeholder shall have the
right to vote, in person or by proxy,
tor the number OF shares Of stock owned
by MIN, for as many persons as there
are directors or 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
be shall think fit; and such directors
or managers shall not he elected IN
any other manner.
). No law shall be passed by the
Legislature granting the right 70 con:
struct anG operate street railroad
within any city, town, or Incorporated
village, without requiring the consent
of the local authorities having the
control OF the street or highway pro-
posed 10 be occupied by such street
railroad.
BANKS.
6. The Legislature may provide, by a
general banking law, for the creation
and organization of banks of issue or
circulation: but the stockholders OF
any bank hereafter authorized by
laws of this State, whether Of issue,
deposit or discount shall be personally
liable to the creditors thereof. over and
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.
:. Every railroad corporation, organ
| lied o. doing business in this State,
shall annually, by their proper officers,
made report, under oath, to the audi.
tor of public accounts OF this State, or
some officer to be designated by law,
setting forth the condition of their
affairs, the operations Of the year, and
such other matters relating to their re-
spective railroads as may be prescribed
by law. The Legislature shall pass
laws enforcing, by suitable penalties,
the provisions of this section.
s. The rolling stock and all other
movable property belonging TO any
railroad company or corporation in this
State, shall be considered personal
property, and shall be liable to execu-
ton and sale, in the same manner as
the personal property of individuals,
and the Legislature shall pass no law
cxcmptng any such property from exc
cution 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 per-
sons for the transportation of their per.
sons and property thereon, under such
regulations as shall be prescribed by
law; and the Legislature shall, from
time TO time, pass laws applicable to
all railroad corporations ia the State,
establishing reasonable maximum rates
Of charges for the transportation of pas
sengers and freights, and providing for
the correction OF abuses, the preven-
ton of unjust discrimination 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
regulating railway companies, require
railroads running through, or within a
half mile Of a town or village contain.
Ing three hundred or more inhabitants,
10 establish stations for the accommo-
dalton of The trade and travel OF said
town or village.
II. no railroad corporation shall
consolidate its stock, property or fran
chise, with any other railroad, owning
parallel or competing line, or obtain
the possession or control of such paral-
lei or competing line by lease or other
contract, without the permission Of the
Legislature.
- The exercise of the power and
the right ofeminent domain shall never
be SO construed, or abridged, as to pre-
vent the taking, by the Legislature, OF
the property and franchises of incorpo-
rated companies, already organized, and
subjecting them to the public use, the
same as of individuals.
ARTICLE XII.
EDUCATION
|. The Legislature shall provide, by