The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-02-16
IN SENATE.

legislative RepOrtsl
IN SENATE.
SATURDAY, Feb. "A, 1850 a. m.
The session was opened with prayer by
Rev. Thomas II. Lynch, whom the Lieuten-
ant Governor introduced as a minister OF
more than fly years service.
LIVE STOCK COMPANIES.
Mr.. BAILEY: A special committee to
which was referred The Live Stock Compa-
MES INCORPORATION bill q. r. 20, see page
1927 with instruction, reported the same
back with amendments. He said: This is the
Live Stock bill which the Senate referred to
q select committee to embrace therein the
following section: That each stakeholder
and member OF such corporation shall be
individually liable to creditors of the cor
psration to the amount Of unpaid stock sub
scribed by him, and for an additional
amount equal to the stock subscribed by
him." This committee report embraces
that with the following two sections, in
substance, that an annual report shall be
made by the corporal ion selling cut its
abilities and the absolute condition OF bust
ness, and that report shall be signed by the
Secretary and a majority of the directors
and sworn to by them" and the following
section states ''if such report be not as made
and published, or De false in any material
statement, and any person is misled or de.
ceived By that report, the individual MEM
bers shall be held liable for the amount OF
damage incurred By that report, and any
company neglecting or failing to make and
Publish an annual report shall lose and for
- any right OF immunity or protection
: "a oy this act. except that any neglect or
failure shall not relieve any member from
the liabilities of this act" 1t may be said
that this proposes to make distinction
against these companies as compared with
companies organized under the mining law.
The law simply makes stockholders
liable for the full face of the stock
subscribed by than, and in addition
renders them individually liable for all debts
TO employees OF the corporation. As to ;ele-
phone and telegraph and street railway COM
psn.es, they are made liable exactly as pro-
vided IN these proposed amendments | am
not especially in favor of this bill anyhow
but II II is to pass hope these amendments
Will be concurred in.
Mr.. OVER5TREEr: Ny recollection is
that on yesterday the House bill 20 was
just like the Senate bill r2Sl with tine ex.
ception OF the first amendment suggested by
this report and the bill II. r. 70l which
was submitted for the Senate bill was re-
ferred TO q committee of one with instruc
tons 10 add that amendment. / think that
committee OF one has transcended its DO Ters
when il goes beyond the instruction OF the
Senate, and adds two other sections to
the bill.
Mr.. BAILEY: VIII the Senator permit
one word? | certainly did not understand
the committee to be restricted to that
amendment Il was talking to the Senator
who introduced 1t Mr. Hoover introduced
the bill s. 2Sl and he sugge ed these two adj.
ditional sections; / therefore reported them
Is being very proper. i think il Important
that such companies should make annual
reports OF the condition of the corporation
and make the directors swear to the report.
Mr.. OVERSrREET: i insist that these
two other proposed amendments have not
been referred TO such a committee as the
Senate rules prescribe. Why refer an i'm
portant Dill to q committee OF one, restrict
ing il TO do a certain thing; and then allow
that CON mittee to add other sections which
change the whole feature of the bill in
several respects? think the committee has
gore beyond what it was instructed to do,
and therefore i move TO amend by striking
opt these two last sections-5ections and 8.
Mr.. BAILEY: If that was going beyond
The instructions OF the Senate will with
draw these two sections and offer them as an
amen dment to the bill.
Mr.. MAGEE: Yesterday when this bill
recomulit TO a COMMITTEES of one to make
certain amendment. That, l believe, was
the extent OF the authority of the com.
mittee; not 10 add any new sections to the
b IL, but simply to make a short amend
ment. The Senator who introduced the bill.
IS we'll IS Senators who were appointed on
the committee which considered this bill,
are absent this morning. and ask that its
further consideration may go over till Ssna-
tor Hoover returns. This bill affects farm.
ers more than any other GLASS, and move
that 1t be postponed till Monday at 230
O'Clock.
The motion was agreed TO.
On motion by Mr.. BAILEY, his Oleo-
margarine bill IS. 1861 was made the special
order for Tuesday a. 2 o'clocKip. m.
Mr.. WILLARD gave notice that he would
for amendment OF rule 81, so as to make the
regular order of business imperative unless
suspended by two-thirds vote.
Mr.. MAGEE moved that the Senate hold
an afternoon session for the further ira osac-
ton OF routine work, the presentation of Pc
titlons, resolutions, and the introduction of
bills only.
Mr.. SMITH, OF jay, said the clerks were
complaining that the Senate had already cut
cut work enough 10 keep them up till mid
night
Mr.. MAGEE replied that il was far more
important that Senators should work than
that clerks should rest. There were several
bills In sight which would require debate
and consideration. At such times the CLERKS
had soft snap. at others they had to toll
over rapid transactions OF detail.
The motion was agreed TO.
Then came q recess for dinner.
AFTERNOON SESSION.
JUDICIAL CIRCUITS.