New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-04-06
THE READING BILL KILLED
iOV EINOR ALBEIT DLOIDFS TO WITHHOLD
HIS SIGNATURE
III MAEES LtBoRFD Offence OF THE DEMO.
CRATIC MNORITY's ACTON-THE Legs
LATrEE MEANT WE'LL.
Icy IELEGrAPm TO TIE tribune.

up courage 20 Slgn II. lie knew that such acuOn
would reflect strongly upon his party and would
prove his own political ruin II was known last
saturday TINT he would sign the bill. lie called
the senators who voted for it together and made clear
30 them the dangcrou, nature OF the measure from
political point OF view, and since they had made
bad mistake in voting for 1t. he promised to defend
them when he came to give hi, reasons for declining
TO approve IT. This be does In u abored document
filed by him today. The Governor says:
Under the constitution OF the State this bill cannot
become Jaw without appova,, expressed by my
signature. There Is question a. TO my right TO ap
prove bill within thirty days after the adjournment
o legislature The only quc.tion whether the act
Of March r. 1880. Is lawful Limitation Of the ENecu-
tive's power to sign bill at any line within the
legislative year. This is not practical question AT
present because Governor since 1850 has scquiescd
in this legislative limitation. In view OF the mssppre
henslon / deem it proper to present my views Of the
proposed legislation and influencing the
minds Of those favorIng its passage
The Governor then details the nature and scope of
the bill reviewing the amendment thereto, and adds:
have grave doubts constitutionsIity 81 this BILL
nth section purports t. suspend The operation
the Act 1885 making lease Of this kind unlawful
without setting forth ia frI required by the con
stution had not reached my conclusion about this
bill upon oacr grounds The apparent sttutionaiity
OF the proposed gss;ioa prsents an objection which
would require Ncy careful detbcraton III" scheme Of
the original i novel In the state oil New
Jersey All railroads crossing ogr STATE except
the NcvJcr.ey Central are oil Of and operated
by foreign under acts legairng the leasing
domestic corporltOns Under th general policy tho
suffered Injury unless the fact OF the
foreign control domestic corporations is In Itself
harmful.
1t Is plain that the members OF the Legislature con
sdercd they WERE In passing this bill pursuing the
settled policy which ha been TO encourage
rather than the consolidation q rnoad cr.o-
stions having Interest in travel and wu-iness
careful examination IL the act In question rails !"
disclose conferred by 1t which would author
assist any combination control the necessafies OF
ne There is nothing in the bill which authorizes
control Of prices by corporations beyond the natural rule
supply and demand. The experience u III. past IN
the consolidation of railroads does not show that anV In
the price q article Transported is na.ural
result Of such RAILROAD consultations when there
railroads and transportation facilities which are In
competition with such consolidated Interests.
There have been questions presented since the passage
Of this which considered by the Legislature
when before the House and Scnata.
which were referred In the arguments upon the
merits u the measure and which probably csc1pd at
tontion In the hurried hours OF the final adjournment
Influencing the members OF the Legislature
passage OF this bill were presented
TO
/. The belief OF Of them. which belief is still
entertained that this new combination under the control
Of the Reading Interests wonid crate strong com
yttiol 70 railroad cancellations o. other corporations
aOdy existing in this view they voiced tn" wishes
Of their constituents in voting for this act They BE-
lIcy,f that this would enable them to obtain
additional railroad facilities Of which they were deprived
under existing combinations.
.. In the judgment Of other meml orS tho result
o. thi. legislation would H. d,cra>c the expense OF
bringing coal into the markets Of this STAT
g. This bin was undoubtedly pssscd with the under
standing and under the conviction that IL cnect "oud v"
TO rduce the price coal consumer In thu s,a'"
4 The fl,t ,n: bin not delivered to ne until
the day u final adjournment aud information received from
member, con,lnccs that thu Legislature relied upon
the Executive that the Interests ~ the people "cr'
protected a. tho-e Interest," should 10 developed bV a
thorough consd Of this measure In oil IT, bearings
win tbis Wow / have made careful and cN-
haustiyc examination 81 all the questions involved - a.
% rach correct conclusion. am satisfied mt ms p
was not attended b. The price Of coal u 70" peo
ue q, our stat" whatever might he lb effect upon inc
o.,r.r. I'm other States H. however. 10 error Ia
his conclusion ule people would stl BE- protected by
this bill It ia subject TO alterations. Amendment OF r.
peal. and the Governor has a." p""r % eau SPA"
session Legislature at any tim" anu ontalh " re-
real II had decided approve This til. ana hai SUD
,equcntlv found that undr the companies had Increased
the Price oi coal should have convened III" L'g'It"''
and urged the repeal Of tie law. do not 'hnA' """
ever that / would H. justified In leaving lcEislhuoh ID
such shan. that might 20 call special s'-'"
y, protect the interests Of the Poplc II II became nee
c<,arv % have a special 'e-son II would hNo'' sr'' "
p.n-e to he State. oDd the f'p''l A" III" ~
,,ldatiov the l,ls.- might leaye cmburIssing que"
,, o., ,dl,l,l decision Pcudlna The determination OF
these question: price o. coal might be- incFca~ed 'na
the consumer. suffer great hardshp~. Inc "''"o" VI
insisting upon legislative protection Tor u" consumer "
any bil Authorizing a consolidation o. The chn''~t con
ten,psted has deeply Impressed upon my mhu oy
the fact tia, since the passage u this act the mafKot
irlr. Of coal been Increased to retail u'a"fs anu III
addition tn. Official. Of the consolidated coi"h'S nav
.o,.I tia, there has agreement made That "o"u
rrycn, further advance IN the price Of coal ana thaI
IN. co-uor,t,ons could mske any such a2r''n' NJ
Additional legislation would be rccr--afS III NY ''uT
rcu 10 protect from IN" eN"rls" on h'N p'
- ,,,. rrces n the corporations should deem II 20 be
Ia
uroptr necessary 70 lncI'HN pr''S '' wv '
their stockholders
b. fact that the consolidation 81 the railroad" en-
gagged In transportation Of coal ana ovn'r 'ret'
aor,-s the stat Of N.w-Jeisey VIII maternity "
ducc the cost Of such transportation 10 u'e con"
nan,es f., certain The constellation Of tr rol''
c..,i nv thl, hin will reduce the expense o' bringing
coal from the mines Of Pennsylvania to ud"""'', W" ~
co., 10 the ind ,idua consumer VIII be- c"rf~pou-S IT,
duced IL is here that the most serious u''V' J" Wv P
oa LEGISLATION IS found This reduction In cost IL " De-
49, 49,, o,co,ne Of privileges granted by the stat" and
a. ,he newer cones from tho people. the saving 70 D'
effected should placed. at least In part " "''' 0
The bnl doc. not provide for this aud II seems " nav.
| been generally understood that. a. condiuoh pre
-, ,,ot ~ thi. legislation enforc cable agreements
could he made between state aud the common carriers
roc,cd whereby cleapsnne OF The cost % t''"-p''
Zion vou,d apprecially reduce the price Of coal " consu'
90. have carefully eNamincd this question: ana mn
| ,,.ood that such contract unless it, provisions were
recognized and approved by Legislation would not o p
ing upon the parties, anu cou'u not o' e'''''
proper steps have been taken Tor Tue iet"''" " W =,
ot TRANSFORMATION and the protection OF thc eonsu,
I, n ~, .e Ia confer the powers sought In This Dill
In view Of the Of this bill to contain provisions
which win absolutely protect the consumer ana NY u
cis,on that valid agreement for this pnri"'e '". We
entered into without additional Legislation ho'e "''e'
| mined 10 withhold my approval OF uii' ohi'
! ,,,e action of the Governor is equal ID veto ana
| ma IAN viii now be ned with the Stnte Lbrot1nn
! md viii not become a law
Governor Abbctt'S refusal to approve the hcadihB
Dcal bin had little effect on the stock har' Sea'er
dov When the report first reached the street thcc
u, slight decline In Reading securities, under the
,,...ure Of the "bcarr element. although Governor
| Abhett,s action had been generally expected l"e
adverse influence Of short DURATION however anu
was followed BY u rally. the stock advancing b'y"u
the opening price. ..,
: e. Williams. the controller oil INC 'crN'S 'c"""''
so,d th,t Governor Abbctt's action wond W't III aug
vnv n1ect the Reading OrganiLtiOh Inc pun p.sc ",
IN. I'M he said had been 10 prOVidr an hdl'ip',,.
| .ta..F all