Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1874-07-10
DECIDED.
The Railroad Law Valid.
THE PEOPLE AHEAD.

state authorities from enforcing the
railroad law and the company from
complying with it,came on for hearing
in the u. s. Circuit Court at Madison
On Wednesday Of last week. The
case was argued by eminent counsel
on both sides, the argument closing at
noon on Friday, and on Saturday
morning the decision Of the Court, de-
nying the injunction and affirming the
validity of the law. was announced
by Judge DrummoDd, Judges Davis
and Hopkins concurring. The case is
to he appealed to the U. S. Supreme
Court at its October term, but it seems
to be the general opinion of those best
informed on the question that the de-
eision VIII not be reversed.
Some newspapers are making great
howl over this decision and predicting
that the corporations of the State will
never be able to borrow a dollar, that
improvements will cease,a and that those
who already have capital here will take
it to other states for investment. Every
body knows, however, that such talk
is all ''bosh." The people of Wisconsin
are far from wanting the railroads to
run at loss,-the aid given by them
to every railroad ever built in the state
shows that they always have been
and are friendly to them; but they
want even-handed justice from the rail
roads, and for our part We are very
thankful that they have the power to
get it in their own hands, instead of
having to trust to these Ooh, SO good,
inst and honest y railroad corporations
to givei it to them,
The following is the decision Of the
SQUIRT in full:
We have not had time to prepare any
opinion in thecase, but,as twas thought
desirable that there should be an i'm
mediate decision upon the melton of
an injunction, l am instructed by the
court to present the following as its
conclusions upon the points made up
ON the motion for preliminary in
junction:
/. On the assumption that the act
of the 18th of March, 1874, 'relating
to railroads, express and telegraph com
panies in the State of Wisconsin" is in
valid, we think the court has juris-
diction Of the case. The bill is filed
by the bond-holders, citizens of Europe
and of other states, to enforce equit-
able rights, and to prevent action by
the Railroad Commissioners which may
result, as alleged, in serious injury to
those rights. 1t was not necessary to
wait until the commissioners had put
the law in full operation, and Its effec
upon the railway companies had become
complete, before the application against
them was made to a court of equity.
A very important function of that court
is to prevent threatened wrongs to the
rights of property.
2. We are Of the opinion that the
act of the 18th of March, mentioned
above, was not repealed by the act Of
10th of March, 1874, the second section
70 which declares "all existing corpo-
rations within the Estate shall have and
possess all the power and privileges
contained X * * in their respective
charters" and the act of the 18th of
March, 1874, the ninth section ofwhich
imposes a pc nalty for sxhorbitant
charges. There are apparent inconsis.
tencies between these two last two nam
ed acts and that Of the 18th of March;
but it becomes question Of intent
ment on the part of the Legislature.
And on the sam9 day joint resolution
was passed March l2th,) directing the
Secretary of State not to publish the
act of the 18th of March until the 29th
OF April. In this State no general law
is in force until after its publication
We think we may consider the Joint
resolution, in order to determine wheth-
er the Legislature intended the two acts
passed on the same day should repeal
the act of the 18th of March, and from
that it is manifest such was not the
intention of the Legislature.
8 The charters of the Railroad cor.
porations under the Constitution of the
State of Wisconsin "may be altered or
repealed by the Legislature at any time
after their passage" In legal effect,
therefore, there was incorporated in all
she Numerous grants under which the
northwestern Railroad now claims it's
right OF franchise and property in this
State, the foregoing condition. contain
ed in the Constitution. Tt became .
part, by operation of law of every con.
tract or mortgage made by the Com
pany, or by any Of its numerous prede
cessors, under which it claims. An
share and bond-holders took their stock
or their securities subject 10 this para
mount condition. and OF which they,
IN law, had notice. IF the corporation
by making contract or deed of trust
on It's property, could clothe its credit
ors with an absolute right. It would
enable the corporation by its own act
70 abrogate any Of the provisions of the
fundamental laws Of the State.
This principle is not changed
by authority from the Legislature Of
the State to corporation to consol-
Iate with corporation of another
state, The corporation Of this state is