The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1892-04-06
CHEAP COAL.
Governor Albeit Vetoes the
Reading Trust Bill In
the Peoples In
tereSts.
HUGH GAINS
WHO SHALL PROFIT?
The Railway Companies Say
The Shareholders" but
the Great Democratic
Leader Says "No!"
CONSUMERS RIGHTS ASSERTED.
Full Text Of the Governors Men,
orandum, Fully Explaining
His Position.
CONSUMERS RIGHTS ASSERTED.
special to the JERSEY Ctr Ns,r..

Specicl to the JERSEY City Ne,rs.
TRENTON, April 6, 1S32-Assembly bill
449. entitled "An act respecting the leas-
ing of railroads and other pubic works.
and providing for the payment of dam
ages to dissenting stockholders. and, on
surrendering any contract OF exemption
from taxation, extinguishing on the part
of the State any existing contract en-
the State 10 take or purchase
the property Of such corporation" will
not become a law on the statute books
of New Jersey. Aftera careful examina-
tion of the measure Governor Albeit ar
rived at the conclusion that the measure,
which must first contain his signature of
approval to become a law, was unconsti-
tutional, and yesterday he refused to ap-
prove the bill and filed his reasons there
for. Below will be found the full text Of
the Governors reasons which prompted
him to withhold his signature from the
bill:-
THE VETO.
This bill was introduced in the HOUSE
of Assembly on the 9Th day of March.
1t was amended in that body by the in
sertion of two sections which vitallv
affect the merits of the bill. The bill
passed the House March 10. and on March
IL, the day of final adjournment. it passed
the Senate. 1t did not reach my hands in
time to enable me to consider it and
communicate my views TO the Legisla-
ture.
Under the constitution OF the State.
this bill cannot become law without
my approval expressed by my signature.
1t is the opinion of the Attorney General
Tin which cencur) that there is no ques-
tion as to my right to approve this bill
within thirty days after the adjournment
Of the Legislature. The only question as
to my power in the premises, is whether
the act of March 10. 1880 claws of 1880.
page 259), is lawful limitation of the
constitutional power of the Governor to
sign bill at any time within the legis-
lative year. This is not practical qnes-
tion at present, because every Governor
since 1850 has acquiesced in this legisla-
tive limitation.
In view of the misapprehension, aud.
in some instances misrepresentation, Of
the objects and scope of this bill, | deem
it proper to present my views of the pro-
posed legislation, and, as l understand
them, the reasons Influencing the minds
OF those favorina its passage.
OBJECT OF THE BILL.
This act is general act which Is in
tended to place in the hands of a foreign
corporation the operation and control of
certain railroad properties in this State.
Provision for this is set forth in the first
and second sections of the act:-
1. Be it enacted by the Senate and General
Assembly of the State of New Jersey, That in
all cases in which lease has been or may be ex-
ecuted between two railroad corporations char
tered by or organized under the laws of another
State than the State of New Jersey, in accord
ance with the laws of such other State, and such
lease shall purport or be intended by its terms
use and enjoy any railroads other public
works of this State, owned. leased. operated or
controlled, whether by means of the ownership
of all or any part of the stock OF the corporation
owning such railroads or other public works or
otherwise, by the lessor in such lease, and to ex-
ercise the franchises of such railroads or puo-
lie works of this State, it shall be lawful for the
lesseeS in such lease to use, operate and en-
joy said railroads or other public works OF
this State and to exercise all the franchises and
enjoy the privileges and mmunities connected
Herewith as fully to all intents and purposes as
the same shall be granted, assigned and trans
ferred. or intended to be by said lease, subject
nevertheless to all the restrictions or limitations
contained in the charters or general law under
which said railroad or public works may have
been constructed and heretofore operated.
2 And be it enacted, That if any railroad corr
poration of this State has leased or hereafter
Shall lease its road and franchises TO any other
railroad corporation of this state, such lease
shall not be invalid because the capital stock of
the lessee in such lease may be owned In whole
or in part by foreign corporation, or by resi-
dent or residents of any other State.
THE PROPOSED CONTRACTS.
Section three contains the necessary
provision for condemning the rights of
dissenting stockholders.
Section four contains the usual provis-
ion, found in all recent legislation of this
character. 1t requires the execution OF
an instrument, approved by the Attorney
General and assented to by the Governor,
which is to be filed in the Office of the
Secretary of State. 1t requires the cam
collation. and surrender of all contracts, IL
any exist, on the subject OF taxation. and
an agreement to submit to general tax
laws; the State surrendering any claim or
right to condemn or purchase the property
of the corporations.
Section five deals with the provisions OF
an act entitled "Au act respecting the
leasing of railroads." approved May 3.
1885. 1t provides that the act OF 1885 shall
not apply to such railroad corporation as
shall. within forty-eight hours after the
passage or approval of the bill under CON-
sideration, file in the office of the Secre-
tary of State copy of the lease referred
to in the law of 1885. 1t also authorizes
corporations filing such lease, to enter
into further or other lease, provided it
is filed within thirty days after its execu-
tion, and is approved by the Governor.
The last section contains the usual re-
pealing clause of acts inconsistent there
with, and it expressly enacts that the act
shall be subject to alteration, amendment
or repeal
THE AMENDMENTS.
The amendments to the original bill
made in the House of Assembly are as
follows:-
Section 6. And be it enacted That nothing in
this act contained or anything done under or IN
pursuance of this act shall make contract be-
tween the State and any corporation acting
under It,
this act contained or anything done In pur,
suance thereof shall decrease the amount o.
Continued on Third Page.