Morning journal and courier., 1893-03-03
NOW Al Law.

The New York, New Haven anu
Hartford Railroad Authorizes TO
Issue Ono Hundred Millions OF
stock, as Far ms the General Assem-
bly, IL Concerned-The Bill signed |
by Lieutenant GovernorG ady In the. |
Absence of Governor NIorris-Rlec.
trio Road Hearing-The Senate and
House. u
Z HARTFORD, March 2.-[Speciall.-l
Promptly at 4:S0 this afternoon Lieuten-
tenant Governor Cady, acting governor in
the absence of the governor from the
state, signed the bill making law the
resolution amending the charter of the
New York, New Haven and Hartford
Railroad company SO az to increase the
capital stock of the company to $1OO, 0OO,-
600. The matter came up in the senate
this morning on motion of Senstor Hou-
Than, who moved that the rules be sus-
pended and the bill immediately put upon
its passage. He explained the reasons for
the haste in passing it, as has before been
stated. Senator Root, who represented
the only opposition, said that he distinctly
was not antagonistic to the measure, but
merely wanted to have 1t continued until
next week, that he and others might look
inta II. He claimed that 1t should take
the usual course, and intimsted that IL
legitimate means had been employed to
hurry the matter through the house. There
was abundant time for consideration In
the senate. He said good word for the
management of the corporation, and In
conclusion moved to make the resolution
the order Of the day for Wednesday next
at p. m.
long speech. BE said that the matter had
been in full public light for thirty days,
and that the arrangement with the Old
Colony Ia such an excellent one that the
Consolidated would be foolish not to carry
it out. The only argument against it by
the previous speaker was that the state
should have in some way an interest in the
new stock, and he thought it was wrong
that the stockholders should have any ben
eft from the new stock. = So there lie no
chance that the stockholders will be in
jured. Referring to q common dsluston
that all earnings over 10 per cent. divi
dends must go to the state, Senator Pierce
said that there was no such law. What rea-
son is there for delaya None, whatever. He
was not afraid of the demagogic cry of
voting for the Consolidated road, when he
" no G"tAohOA bh0o VIC 4Oa0 was Ilkuts IL
was the old cry sgainst prosperous corpor-
atiops or prosperous men. There are some
men, we are told, who want time to decide
whether they are for or against this meas
ure. The senator has spoken of ilegiti.
mate means, and If he knows of any, why
not pass a resolution of investigation
But there is nothing to the story and it
Is no part of the question before the
senate. There are many people always
looking for . bite out of the Con
eolidated. As for himself, he had
always paid his full fare and receiv-
ed no advantages. The road is honestly
and ably managed. In 1889 an increase
of $35, DOC, 900 was authorized. Has 1t not
been wisely and advautaReously invested!
No one has even intimated to the contrary.
Now the road wants more capital to secure
more property, and to get full advantage
prompt action has been essential. The res
olution went through the usual channels
of committees and has passed the house.
Every amendment offered was voted down
amendments based on the theory that if
the Consolidated road wanted any favo1s
now was the time to make 1t pay for them.
After describing the slack management
| of tho New York aud New England, on
whose line he resides, he said that It would
| be good thing If the Consolidated owned
| the road and all other roads in the stats
| and extended over them It's excellent man
agement and train service. There is nc
| reason why 1t should not be passed, and II
might as well be passed now as any other
time.
Senator Root again attacked the measure
urging delay, and criticised Senator Pierce
for hurrying the matter. From the undue
haste, he feared there might be something
| in the stories in circulation about waiting
for bites. He had heard such suggestion
this morning, but there was no nibble. In
conclusion he again urged postponemsnt to
| next Wednesday.
Senator Holcomb of Southington said
II infer that senator in this body has
been offered BRIDE"
'Bite," I said. "It was bite" hastily
interrupted Senator Root.
eff this is So" said Senator Holcomb
she means a bride, and 1t is his duty t
make the facts known to the senate. Al
to suspending the rules to pass thi,
/ measure, 1t is usual thing, and an
satisfied that the reasons given for i'm
| mediate action to day, are good and suff
| cient. The senators are thoroughly famil
lar with the subject, and are ready to vote
| on the measure.
Senator Morgan also favored the bill
which was passed, the only vote against
1 SS-A5 eAes ~ 49, NsoS@
The Senate.
/ The senate this afternoon, after Ions
debate, passed resolution authorizing the
New York, New haven and Hartford rail
road to increase its capital to 500. 600, 900.
The matter came up on a motion by Sen.
ator Houlihan, chairman of the COMMITTEES
on railroads, to suspend the rules and pass
the resolution which was passed by the
house yesterday.
Senator Root moved to make the resolu
ton the special order of the day for mex
Wednesday. He said that he knew thai
| Legitimate means were used in the house
| yesterday to influence votes in favor of the
| measure. He had this morning "beer
offered q bite but he did not even nib
ble." He thought the measure of sun
Gent importance to be acted on in the reg
ular way; not rushing through.
Senators Pierce, Morgan, Holden and
Holoomb saw NO reason for delay, and Mr.
Roots motion was voted down, only him
| self voting for it.
The resolution was then passed, only Mr..
Root voting against 1t.
An effort was made to take up the CON
frmation of John s. Seymour as Insurance.
| commissioner on the ground that if re-
jected the governor would not be able tc
make another nomination within the stat.
utory time limitation. It was defeated
| and the matter will come up to morrow al
o'clock, as originally assigned.
Resolutions were introduced giving
| power to the New York, New Haven and
Hartford Railroad company to change itf
| corporate name as the Stockholders might
vote; act de appointment of tax collector
| in Norwich; empowering Iowa Mortgage
company to do general banking business,
and making their debentures trust funds
| giving ssvinRs banks powers to invest moi
over one-hslf surplus in bonds of various
cities, ETC.; amending charter of the Meri
den Horse railroad; act allowing only tar
amending charter of Norwalk
Adolph Harper, Tolland; Dexter @. Tai
bolt, Coventry; William B Hotten, Idland
to be county commissioners for Tolland
county, was passed in the senate; also 40
| pointing Edwin N. II. Marion, Brooklyn
Edwin II. Hall, Windham; David A. Baker
ashford, to be county commissioners fol
Windhan county. ~A*@EssS "'is'~- -
| Favorable reports were received provid
ing for an associate judge of the court Of
common pleas for Hartford; appointing
Albert @. Bill associate judge of the Hart
| ford police court; for an act prohibiting
minors less than eighteen to drive hofset
for owners of Iverymsn. .
The appointment of Ralph Wheeler Of
New London was referred to the commit
tee on executive nominations.
| The senate adjourned at 2 O'Clock unit
Il To morrow at Il .20