The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1889-08-03
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ss'.s-'Fa'sszi = sassss<ess .sAates Ia the rouei
81 ossssr eases
~ VIII ESsTsfcr rgESES- lAs<
Crcsisy saayea 70 strike enx he ~,
seSssd ~ u on the xroana that tue y sSss,,,
nv h1iesirS corporation 10 ~ s4sxSs IL,
ans part q Ise stsss woaad ~ restricted.
Aioasar Declared this yesy valuable
cszase. lac osssesiiaza OF ssrawses hai rs
wssgAt he<saSe the sestsoa sl.owxxs ,hs
as'ssssstaFss 70 sssss upon see question.
AasSf {. ssate tire section MAS stricken cut
A rEcHfsrTsoS sxrryax
cec- al TIE legislature shall ros PASS
sias saws pS--aitzs1g TIE leasing or a,isna.
.sca os any franchise. 80 - 10 relieve the
s.sas.shisss OF properly held thereanier
srsnsor. tesSsse CT graasee. e0airacttd o.
ataesaFrssi IN the cps ration. Use Or ersoy-
iieges'
sssrrsFeiu moved TO strike ons al before
I dsf &f>&ff No F0r3Er3ffHfl
carried
OF for granted
Crowley claimed thar the caicc. Of the
ss'ssloa won,d oe sslsirels lest II the weris
lie amendment was lass and the section
/ Is aneatsed Vas PASSED
/ IRE STATE CANNOT loan srs CREDIT.
Sec II. The ssaie shall not ia any raan-
ner iosia Us credit. nor shall IL Subscribe 70
or pe Interested IA The stock as auy COM
paEy, association or corporation.
motion was made q, strike the section
oat etc&nse the same provision wsx al
I resis canfsiEei in tue report oo ssrsal
! Indebtedness lost
IAe seetiuB was adosstes
/ TIE KNIFE SPrPLIgp AGAIN.
sse- iS The exercise OF the right af
eminent domain shall never he 50
sofidgtts os cons;raed as To prsyent the
legislature froyn taking the property and
franchises of Incorporated cossipsnies and
sae,eeting them ta public use the same a.
the property oG indsyfdualsTs
After some dictate Moore moved that the
ssesaon be stricken out; carried.
Ne SPECIAL ACT CAN Bg rAssEr.
Sec. a. The legislature saasl have no
loaet % pass any act granting any charter
Tor banking or INSURANCE. purposes bat cor
porations or associations NAV he formed
Tor saeh purposes under general laws M
Corporation. association or Individual shall
i>sue or rut in circulation as money snv-
tnins eul The lawfal money OF the United
states Each stakeholder OF sny such cor
pors'los, or joint stock association. shall
be individually aud personally liable for
such proportion Of all iis debts ans. liabili-
ties contracted or incurred daring the
sisae De was stoekholcer, as tae amount
OF stock or shares owned by him bears Ia
- tsf . .tf fHs AxEr
or shares of the corporation or association"
LIABILITIES OF STOCKHOLDERS.
Weisenburggr offered the follow ing sub
siisute.
''Sec. IL. The legislature shsll have DO
power 10 pass any aet granting any charter
Tor banking or Insurance purposes. but
coreorations or associations may be formed
Tor such purposes under general laws No
corporation. association or individual
shall issue or pnt in circulation as money
nstslng but the lawful money of the
United states. Fsch s,ockhoider OF any
sneh corporation or joint stock $3.50 iaison
shalt be individually aud persoSsIiy iisb.e
equally and rataoly, aai not one for an,
other, for all contrscfs. debts and engage
uisfits OF such corporation or association
aoetufas while they remain g1ch stock
holder 20 the extent uf the amosnt Of Their
acdtfion 10 the essount !nyessed in such
shares
The substitute was carried - to 10.
wHAr MONEY SHALL M ISSUED.
Moore moved 10 strike cut OF the second
the sentence relating To the issuance OF
money. After exteniesi debate the amend
ment was lost, IL 70 %.
Browne moved TO strike out the second
sentruce and insert the following: mo
banking corporation. company or iasf,tu-
ton shall ever exist in this state with the
privilege OF making, issaing or putting
into eireula ion any biz, check, certificate.
note or paper of any nank. company or
person 20 circulate any currency
DR. Miner offered g. substitute the fol.
lowing addition 10 the original sentence:
Except federal cne enry and notes OF
banks authorized under the laws of tie
United States lost
krowne's amendment was lost, "A to ma
jority.
Il. II. Sullivan wanted 20 strike oat the
tEss seHteuce OF the section; carried, y 10
~.
The section as amended was then
BANK OFFICERS RESPONSIBLE
Sec Is. II shall be crime. the nstrre
aud punishment of which shall be pre-
seribrd by law, for any president, director,
manager, Cashier, or other efilcer. of any
banking institution. 10 receive or assent 10
the reception Of deposits after he shall
have knowledge OF The fact that such
ing circumstances; and any such officer,
agent. or manager, shall be individually
Responsible for such deposits SO received "
sullivan novel to insert "ciyilly" for
individually Ia the last line.
On motion of Turner the section was
amended so as 10 read thus:
sec. ID. Any president, director, man
ager, cashier or other officer OF aay bank.
ing institution, who shall receive or as
sent 90 the n c. piion of deposits after he
L a..
banking institution is insolvent or In fail
iue circumstances, s.isl be Individually
re- poaslhie fur such deposits so received
Stiles moved io strike out the word
Institution" and insert "eorHoration."
lost.
sec. l6. All railroad. canal sni other
transportation companies are declared 30
Oe common carriers. and subject 10 iegfs-
iaiiye control, Any association or corpora.
tioa organized ior the purpose. under the
laws of this state, shall have the rixht %
connect at the ate line with railroads of
other states, Ey.ry raiirosd company
~hail have the right with It's road whether
the same be row constructed or may here
after h. constructed, 10 intersecf. cross or
Connect with any other railroa5 and
when such railroads are OF the same or
similar gauge, they shall a. eli crossings,
ard al points where a railroad shall begin
or terminate ~ or Lear any other railroad,
form proper councillors 80 that the can
ot any such railroad companies msy be
speedily transfsrred ftom one raiifosd 20
snotaer. Al Esilrsad eosnyanies SHALL re.
eeiye and transport each the others pas-
sengers, tonnage and cars witt0ut delay
or dis riIninsiiou."
Adopted.
AGAINST A COMBINATION
e. C II. No ra'iroai comeAny, or osher
common carrier shall combine or make
any contract with The owners OF any vessel
that leaves port or makes port In 10 5 state
or With any cor faou csrsi.r. by wEich
I combln alton or contract the earnings Of