The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-06-18
DODCED THE MAIN ISSUE.
II Is Said That the 42,OOO-ShaTe
Question Was Not Ruled On.

But the Rowena Clarke Bill Was Dis
] missed All the Same, and Justice
Jackson's Decision on the Constitu-
tiona1 Point Will Remain Law Until
It Is Reversed-Mr. Erwin Says 1t
Looks Like Government Ownership
of Railroads.
1t seems that the circuit court of ap-
peals in deciding the appealed case of the
Rowena Clarke bill against the Central
railroad, failed to rule directly upon the
question of constitutional law involved in
the voting power of the 1900 shares of
Central railroad stock held by the Rich
mond Terminal Company.
Mr.. Frank H. Miller has brought the
information from New Orleans that the
circuit court of appeals held that after
the recovery of the properties from the
Richmond and Danville, the Rowena
Clarke bill had accomplished all its
legitimate purposes While no copy of
the decision has been received here by
any of those interested in the matter
II is said that the court avoided
making any direct ruling on the constitu-
tional law involved in the question of the
right of the majority stock to vote on the
ground that in the present attitude of the
litigation these questions are of no prac-
teal importance.
JACKsoN's DECISION OF THE LAW.
If no further cognizance is taken of this
question it is likely that the decision of
Justice jackson in the matter will stand.
In the matter of the constitutional law
involved with regard to the voting power
of the majority stock, Justice jackson
said in his decision:
where is the constitutional provision
of the state Of Georgia or its power either
by legislation or constitutional provision
to prohibit lawfully organized corpora
ton created by the state of Virginia, with
express power TO own and purchase bonds2
Where is the power in the state of Geor-
gia, in her legislature or consti-
tuition, to prohibit the purchase
of that lawful property, issued
and created under her own laws and nut
out before the world as saleablel 1t does
not exist. l concede that the state of
Georgia may put in limitations
and restrictions upon corporations
in respect to the amount of
property they shall acquire; in respect
to the amount of stock they may author
tze corporation TO issue, but | say that
when that corporation has issued that
stock, when il goes abroad as property.
there is no power in this land that can
deny TO the owner the right to sell it nor
deny to the individual the right to buy il,
and if corporation is created by any
state with power to own and purchase
stock, that that corporation is entitled TO
buy that stock, and that Georgia, in her
constitution and in the legislature, could
not prohibit it,"
SAYS THEY DoDGED THE ISSUE.
Mr.. Marion Erwin. one Of the prominent
ATTORNEYS rpnraGpptinCr tho nj % ,,a ,+e
in the Rowena Clarke bill, said in an in
terylew the other day: From the infor-
nation which have received in reference
to the matter, it seems that the circuit
court of appeals had found grounds to
avoid making the decision on the big con-
stitutional question made in the case
while we think that proper decision
OF this question was of vital interest 20
our clients, we were well aware that the
welfare of their holdings in the company,
while large for them, is dwarfed into in
significance by the magnitude of the
question, as it affects the great public
interest of the state, and l might well
say of the United States.
THE decision of the circuit court of
appeals leaves Justice Jackson's opinion
as the law of the case and means, in my
opinion, that the properties of the Cen
trail Railroad and Banking Company of
Georgia, the East Tennessee, Virginia
aud Georgia Railway Company and the
Richmond and Danville Railroad Com
pany, the three great railway systems of
the southeastern quarter of the United
States, will be reorganized under one
great corporate control centering in New
York
LOOKS FOR POPULIsT VICTORY.
1.-THE effect of the decision is farreach
ing, and its results will, in my opinion,
ID a,rla .k1,, IL.
consolidation which has developed the
mighty political power of railroads and
given birth during the past decade to a
new question in political economy. 1t
means that the people of the state have
lost control over the railways and other
great corporations on the question of
competition; that the national congress
is the only power now left capable of deal
ing with the question. The people have
so many vast interests dependent upon
the railroads that consolidation of the
great railroad systems of the United
states by stock ownership under one
great trust management, independent of
state laws and state control, means inev-
itably reaction for control by the peo-
pie through the national government and
will make within the present decade the
government ownership of railroads,
which most of us have been considering
as one of the wild dreams of the populists
the burning question of the day We are
taking giant strides in the direction of a
centralized government. 1t makes us feel
that Edward Bellamy in Looking Back
ward overestimated the time during
which he thought it reasonable to allow
his hero to sleep in order to evolve from
present conditions the grand central gov
eminent from Washington which was to
supplant local self government and oblit-
crate state lines. This decision, carry
ing as it does, the force of the name of a
justice Of the supreme court of the United
States, will doubtless be generally acqui-
esced in, unless perhaps, the states them
selves, through their legislatures and
courts, take up the conte ST."
a SAMPLE PLAN.
A Proposition Made to the South-