Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1876-04-20

+ -
Numerous important additions have !
been made respecting private corporations t
which are In general terms as follows: i
, l. The redemption of any paper 8
money issued in this State must be fully t
secured by the deposit of bonds of the $
United States and of the State of Ohio. I
g, La the election of directors of every I
private corporation each shareholder shall
/ have as many votes as the number of his i
shares multiplikd by the whole number Of {
directors Of the corporation, and may cast
them all for one candidate-or distribute s
/ them As he may see ht--so that, If there ]
be thirteen directors, the holders of one {
/ thirteenth of the stock can combine their
/ votes on one candidate and elect him !
/ thus securing to stockholders representa- |
/ tion in the board In exact proportion to
/ their stock and preventing majority
/ from excluding the. minority from all
voice in the board or knowledge of its 1
proceedings and purposes.
3. Foreign corporations are to be sub /
iect to the same regulations, LIMITATIONS
and liabilities as ike domestic corpora
GionE; but cannot be authorized to con-
demn private property. r. oals
i a C Corporations created prior to May
! 1, 1885, must Teorganize subject to the
provisions of the new Constitution, or be
debaFred all benefit Of laws passed or to
F, passed SlHce g0aE. QaLEs- except laws :
regulating Judicial procedure. sia4a
5. Every officer or agent Of a railroad
company is prohibited from being inter-
esied IN any manner siu the receipts, con-
tracts or earnings of such company, ex-
eept as an ordinary shipper, passenger,
stakeholder, bond creditor or employe-; or
in any arrangement which shall afford
better terms or facilities than are given
the general public. ..
Il 6. One railroad company cannot con-
solidate with another having parallel or
competing line, nor lease, purchase or
control such line; and no railroad COM
pany may do business in Ohio if it shares /
its earnings in any manner with COM
pany owning or controlling parallel or /
competing line in this State; the object |
Of this provision being to secure to the |
/ public the benefit of competition.
Z. No foreign corporation is permitted
to do a business of telegraphing, mining,
manufacturing or insuring In Ohio, with
out having an Office in the State where
legal process may be served nor after it
shall have, on the ground of citizenship,
j removed a suit against it from State to a
/ Federal Court.
- 3. The General Assembly is required to
? pass laws to correct. abuses, and prevent,
s by adequate penalties and forfeitures, un-
s just discrimination and excessive charges
n by railroad companies in transporting
j freight and passengers.
e 9. Corporations are prohibited increas-
ing their stock or bonded Indebtedness
? except for full value in money, property,
: or labor.
= 10. Railroad companies are prohibited
= charging, except for excursion or COM
r mutation tickets, to any station, more in
e gross than is charged for the same class
e and amount Of transportation in the
:, same direction to a more distant station.
h ARTICLE KIN REVENUE AND TAXATION
/ !, II No change has been made in the general
= principle that all property shall be taxed
j uniformly, according to its value in
3 & money; the mode of ascertaining such
= value to be determined by rules of ap-
praisement prescribed by the General
Assembly. The exempted class, with the
/. addition of public libraries, remains as
Is under the existing Constitution, depend
rs ent exclusively on the pleasure of the Leg
n It was deemed advisable to authorize
q the General Assembly to adopt other
II plans of taxation, the mode and time for
pt the inauguration of the same being left to
s, their discretion. The principal features OF
v the proposed new systems are embodied
Is in section Eve. By virtue of this clause
I'd the General Assembly may impose taxes
by license, excise, or otherwise, and
20 may tax franchises and incomes
derived from Investments, where the
ed principal from which the income is de-
,ir rived cannot be taxed. In anticipation o.
re- the future needs Of the State, and with the
nd intent, if practicable, to prevent a toe
n great increase of the weight of taxation OF
be the property of our people, it is though
lot to be good policy to open up other sources
m of revenue, based on business employment
m. and professional callings, and from invest
ut ments of capital outside of the State or il
al securities which escape their share of tn
ers general burden. This system of taxation
eg- has, in part, been adopted. in many of tn
lot older commercial States, and has contrib
uted a large item in their annual reve
nd nues.
,ss- Banks and bankers are to be taxed oi
'es, capital employed and on business done
under such equitable rules as may be pre-
scribed by the General Assembly, SO tina
Ms they may share equally with others in tn
the burdens oftaxation.
1ed A provision is inserted in this Artiel
dds (Sec. y for the protection of the wool il
terest of the State from the ravages {
to dogs and for securing, by special taxes Q
,ra- assessments on those animals, fund ou
to of which to compensate for annual losse
AVS from destruction of sheep.
tar. s. ARTICLE Mv.-LEGIsLATIyE APPoRTIoN
has NEENT AND REPRESENTATION.
viii The general principle of decennia
and self-adjusting superintendent for tt
ore election of Senators and Representative
2 in after each Federal census, is preserved
ent. but the 1iivisor for the ratio of represer
ten. tation is increased in the Senate to THIRTY
ica- seven, and in the House of Represent;
adv tivos tn ono hundred and 6va which an
ate, ject to variations occasioned by fractions
for ratios, will therefore constitute the numb
of members of the respective houses.
lion new apportionment of the State into SEN
per torial and Representative districts for tt
in current decade is also submitted in th
by Article, which we beIieves.to be fair
cor each political party in the State; and
vent nearly so to each section as, practicabl
:ate. Il About half Of the Convention favor
J in the division Of all the large counties in
six single Senatorial and Representative d
,unt tricts, conforming to the single distriC
] for of the rest Of the State. After much d
imi- eussion, a substitute for that propositit
y toll was finally agreed to, by a. vote made
tary' about equally of both political parti
s in giving the minorities of those focaliti
hor- representation by applying the cumul
'ofa-1 tive method of suffrage in the election
IN Of Senators and Represent tatiyes in all cou
nor ties where more than two are to
al chosen. This provision is general a
first permanent in its intention and scope.
)tion present it only affects Hamilton and Gu
g ahoga counties, but from 1876 to 1880
sess- will apply4to franklin and Montgome
not which will each choose three Represen
tives; and after the next apportionms
sYied il will apply to Hamilton, Cuyaho1
,rpo- franklin, Montgomery, Lucas, Belmo
d for Butler, Colum biana, Stark, and probal