Evening star. [volume] (Washington, D.C.) 1854-1972, 1886-12-21
A BIG HOTEL FOR WASHINGTON
Discussion i'm the senate ON the Bill
. Incorporating the Windsor Hotel Conn
pany.

In the senate, yesterday, during consideration
of the bill to incorporate the Windsor Hotel CON-
pany of the District OF Columbia, Mr. Vest said he
had no objection to chartering the company, but
the bill authorized them to issue bonds and that
holders 0f securities OF corporations chartered by
the government sometimes think that the govern
ment ought not to create a corporation unless it
meant to be responsible. he did not want any
responsibility, direct or implied upon the govern
ment.
Mr.. COclsrell proposed an amendment, providing
that the government should in no manner be re-
Spons1ble for the corporation.
MI. Ingalls, opposed the amendment, saying that
the 1ncorporators were gentlemen OF well-known
character, and there was no responsibility on the
part of the government.
Mr.. Cockrell admitted that the incorporaters
were men OF high character. He had no doubt
That the fncorporatorS OF the Freed.nen'S Savings
ana Trust company were gentlemen, but now
there tf is an attempt, that may succeed, to make
the government responsible for their deficiencies
He said the government had assumed RESPONSE
blity also for the bonds OF the District of Coum-
ba.
Mr.. Allison submitted an amendment providing
that the bonds issued shall not exceed three
fourths Of the capital stock actually paid in at
any time; which was agreed to.
After some further debate as to liabilities and
responsibilities, an amendment, offered by Mr.
Chace, providing that each shareholder shall be
liable to the amount of his stock, bur such labil-
paid up IN cash, was adopted, and Mr. Vest pro-
posed ar amendment to require that the hotel
shoula De commenced within TWO years and COM
pleted within five years; which was also adopted
PROPOSED TAX FOR THE BENEFIT OF THE POOR
DISCUSSED AND REJECTED.
Mr.. Morgan submitted an amendment to levy a
tax, for the benefit Of the poor OF the District OF
one per cent upon the capital stock.
Mr. Morgan delivered an argument in favor Of
taxing corporations in the course of which he de-
fOr nbnrfa arfyfr
such company; that there are innumerable
hotels and boarding houses here now, suf1icent to
accommodate all classes OF people, and none Of
them were chartered.
Mr.. Ingalls, hoped the amendment would not be
pressed. He would join with the Senator from
Alabama in levying a tax upon the capital stock
OF corporations at the proper time, but this was
not the proper time. He Qngalls) had no interest
in the bill and cared nothing for its fate except
large size and modern construction. He did not
believe the hotel property would pay one per cent
profit
Mr.. Morrill, said that the real and personal prop
erty Of the company would be taxed
Mr.: Morgan understood that, but he wanted to
BY CONF sress would be valuable; it would Be prop
erty, and ought 10 be taxed. ,~r
Mr.. ingalls, remarked that the tax for the poor
ment would be rejected
1t was rejected and the bill was passed
THE BILL As PASSED BY THE SENATE
Incorporates the Windsor Hotel company with
JOnn w. thompson, b. kurE johnson, owen G..
Staples, James Elverson and VIM. W. Dudley and
their associates as incorporators, with power to
acquire and hold real estate and build thereon a
building or buildings for the purpose Of a public
hotel OF such style and character as shall comply
with the building regulations OF the District that
shares OF 800 each. Subscribers to the stock
shall 0e required to pay 1t up in cash, at such
times and In such amounts as the directors may
bonds secured by mortgage Of its property, not to
exceed three.foufths OF its stock paid up In cash
Obligations TO the amount Of the stock subscribed
by EACH but stch liability Shall cease when all the
capital stock shall have been paid up. Unless the
building Shall be commenced within two years
and completed within five years, the charter shall
cease and determine.