Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1873-11-26
ARTICLE XVI.
PRIVATE CORPORATIONS.

| PRIVATE CORPORATIONS.
sBoroN !. An existing charters, or grants
Of special or exclusive privileges, under which u
bona ddo organization shall net have taken place
and business been commenced In good faith a.
tho time of tho adoption of this constitution shall
thereafter have no validity.
SEC. 2. The General Assembly shall not remit
the forfeiture Of the charter Of any corporation
now existing, or alter or amend the same, or pass
any other general or special law for the bonedt OF
such corporation, except upon the condition than
such corporation shall thereafter hold its charter
subject to the provisions Of this constitution.
SEC. g. The exercise or the right Of eminent do
main shall never be abridged or construed as
to prevent the General Assembly from taking tho
property and franchises Of incorporated companies
and suhjeeiing them to public use, the Same as
the property Of individuals and the exercise OF
the police power of the State shall never be
abridged or so construed rs 10 permit oorpora-
! tons to conduct their business in such manner
as to infringe the equal rights Of individuals or
tho general well being Of the State.
| syo. 4. In al elections for directors or man.
agors Of corporation each member or shareholder
may cast the whole number Of his votes for ono
candidate, or distribute them upon two or moro
candidates, as he may prefer.
SEC. S. No foreign corporation shall do any
business in this State without having ono or more
known places Of business, and sn authorized agent
or agents in the sarne, upon whom process may bo
served.
SIC. Q. No corporation shall engage In anv
business other than that expressly authorized In
its charter, nor shall Il take hold any real es-
tate, except such as may be necessary and proper
for its legitimate business.
SEC. 7. No corporation shall issue stocks or
bonds except for money labor done, or money or
property actually received; and all fictitious In
crease Of stock or Indebtedness shall bo void;
the stock and indcbtedpe. Of corporations shall
not be increased except In pursuance OF general
law, nor without the consent of the persons hold
ing the larger amount In value Of the stock hrss
obtained at meeting TO be held after sixty days
notice given In pursuance Of Law.
SBc. S. Municipal and other corporations anil
individuals invested with the privilege Of taking
private property for public use shall make Just
compensation for property taken, injured or de-
stroyed BY the construction or enlargement Of
their works, highways, or Improvements, which
compensation shall be paid or secured before such
taking. injury, or destruction. The General As
sembly Is hereby prohibited from dcpriving any
person of an appeal froa any preliminary assess
meut of damages against any such corporations
or individuals, made by viewers or otherwise; and
the amount Of such damsges, in all cases of sp-
peal shall, on the demand Of either party, be de-
tcrmined by jury according to the course Of tho
common Law,
SEc. Q. Every banking law shall provide for
the resistry and countorsigning by offcor ofthe
State, of all notes bills designed for circulation.
and that ample security to the full amount thereof
shah be deposited with the Auditor General for
the redemption Of such notes or bills.
SEC. 10. The General Assembly snail have tha
power to alter, revoke, or annul any charter Of
incorporation now existing and revocsblc at tho
adoption Of this constitution, or any that nav
hereafter be created, whenever in their opinion il
may he injurious 70 the citizens OF tAs Common
wealth. in such manner. however, thsn no injus-
ticc shall be done to the corporaiors. No law
hereafter enacted shall create, renew, or extend
the charter Of more than one corporation. fsf
Sro. IL. No corporate body 10 possess banking
and discounting privileges shall be created or Or
ganired in pursuance Of any law without threo
months previous public notice at the place oftho
intended location, of the intention to apply for
such privilege, in such manner as shall be pre-
scribed by Law, nor shall charter for such privi-
lcgo be granted for longer period than twenty
years
sEo. ~. Aay association or corporation organ
iscd for tho purpose, or any individual, shall
have the right to construct and maintain lines Of
telegraph within this State, and to connect tho
same with other lines; md tho General Assembly
shall by general Law Of uniform operation, pro-
vide reasonable regulations to give full effect to
this section No telegraph company shsll consol-
idatc with or hold controlling interest IN tho
stock or bonds Of sny other telegraph company
owning competing line, or acquire by purchase
or otherwise, any other competing line OF telo-
graph.
SEC. IL. Tho term "corporaton,," az usoi In
this article shall be construed to include all Joint
stock companies or associations having any cf tho
powers or privileges Of corporations not possessod
by individuals or partnerships.
ARTICLE XVII.
RAiLRoAps AND CANALS:
-,
tsorios 1. Az railroads and canals shan bc
pubic highTayS ana oil railroad md canal COM
panies snail DC common carriers. Any n'socis-
ton OF corporation Organised for the pnrposc
snaL nave ,nc rign. 70 construct and eperstoa
tairoa' oo,Ween any polnis wiihn TINS state and
10 '"nect ., tne state me with rsiirosf. OF other
states. ky., raiiroAd company shall nsve tho