The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1873-04-24

Y later will absorb all rad roads connecting IL
this State with the lines of either company
n thus destroying all competition-the only
protection 10 the private cItiZen-and erect
), ing powerful oppressive and soulless mo-
nopoly. By taking lease of the railroad
f route, which if CON pfeted. would be lnJuFl-
Gus to the consolidated roads, 10 greater
!, / extent than the price of the lease; the con-
struction of i'm portant lines of railroad VIII
( | be retarded, il not entirely defeated. In
this view OF the bill, and it Is legitimate
and almost certain result OF It's provisions
!. it is stab at all the infant roads IN the
State connecting with either llne II VIII
!. tend TO counteuancP and encourage spirit
| of speculation destructive to the interest
and rights of the people. There can be no
benefits resulting to the State or her people
by the grant of such dangerous and unlim-
tied power.
4. The feature of the bill authorizing a
change OF route in the kosciusko extension.
by commencing south OF West Station is
manifestly unjust TO the people along the
original line OF the road from Canton TO
| Kosciusko 1t is a breach of faith in our
| opinion ineXcusable and unjust. Those
people extended their money on the faith
of the State forcing the railroad to comply
| with its charter, and give them a road
| and now the road is released by a promise
! to build a road that will in 10 way benefit
! the great mass of those interested.
). The second section provides that on
| the com pletion of the railroad from some /
''all the the chartered rights, privileges |
franchises of said New Orleans, jackson !
ard Great Northern Railroad Company |
shall be then and thereby extended. renew
ed and continued in said company in per- |
petuity.
The effect OF this provision is TO debar
the State from proceeding in the future TO
enforce forfeiture of the charter of the
company for any abuse OF the privileges,
mmuuities, or franchises, conferred or
granted by The Act OF Incorporation and
amendments thereto, and thus Is the State
deprived forever of this statutory remedy
to enforce compliance with the conditions
of the Act of incorporation and subsequent
anne dment<. The State, by this, is, III
short, bound hand and foot, aud turned
over To this monopoly. Another effect of
continuing the chartered rights and privi-
!egeS, franchises. and immunities granted
were to expire in fifty years See Acts of
of 1852, section >, n and rs; and although
the State may decline when the time comes
TO assert her rights, this power would be "A
check on the encroaching disposition OF all
mouied corporations 1t is good policy
and wise craftsmanship to limit the dur
alton OF all monied corporations.
By the provisions of this bill the State is !
deprived OF at least 100000 annually for ,
I" enty-n years, and the entire road after ,
that time.
A further Objectionable feature of the bill |
Is the practical destruction of the charter ,
of the New Orleans, jackson and Great
six OF the Directors OF the company shall
be citizens OF the State,
This provision was intended as IA security
to the citizens of HE State against an un-
just and inequitaDle managem ut of the at
fairs OF the company, but by this bill the =
com panies consolidated are permitted To .
fix the number OF Directors and the time
when they shall be elected. and ''tO pass all .
bylaws for the government of said compa-
ny, and the management of All its affairs :
and thus are the six citizen Directors of the
State abolished, as the Directors of one
company are practically functus otficio, >
when the management OF all the affairs OF
the consolidated company is vested in its =.
Board of Directors. Against the passage .
Of this bill, fraught, as we believe, with
evil to the State, we most earnestly protest, \
md ask that this, our protest, being the eX-
preston Of our honestly entertained opin-
ons, be Spread upon the Journal =
II. CASSIDY, JR.,
+. NJ. ALEXANDER. +
e. NJ. BowLEs,
JAMES 5. SMYTHE,
VIM. GRAY,
Several local bills passed. :
SALARIES. ii
III. B. TO regulate the fees and salaries of
public officers, was being considered when
senate adjourned.