The morning news., 1894-11-24
NEW RAP At TIE RAILROADS
4 Bill 10 Defeat the Reorganization Of
the Central.

Parresentative Doolan Introduces It in
+ba Hous, and Says 1t Was Furnished
Him by Capt. Purse-It Prohibits a
railroad From Acquiring Control of
Connecting Line-It Is Based on the
ASSUMPTION That the Southern Rail-
pav Company Would Operate the Cen
tral Against the Interests of savan-
nah.
Atlanta. Ca, Nov. 23.-Mr. Doolan of
cbstbam to-day introduced bill in the
House that will create a sensation in
railway circles 1t is aimed at the South
e-r Railway Company, according to the
authors own statement, and is designed
TO prevent the reorganization of the Cen
tral by the Southern.
rr. bin was furnished to Mr. Doolan by
Cant. D. C. Purse, president of the board
Of trade
ID .. eliiug Of Mr. Qoolan said there
is well founded suspicion that the
Southern does not mean well by the Cen
trail but that once it gets control Mr..
Conner will be relieved of the presidency
and savannah win experience the same
adverse treatment as when the Rich
mond Terminal had the Central.
The bin provides that mo corporation,
individual or association shall purchase
or lease any railroad lying in whole or in
part i'm this state, or any interest therein,
where such purchaser or lessee already
owns operates or is interested in a line
or lines of railroad which either alone
or in connection with other connecting
railroads lying either within or without
this state, can compete between any
points IN this state and any such pur-
chase, lease or acquisition is hereby de-
clared to be null and void. Nor shall any
individual or individuals owning or eX-
erosiug q controlling interest in any such
competing company or companies, either
directly on indirectly purchase or lease
in whole or in part any such railroad, ana
the corporations or individuals so Offend
ing by making such acquisition shah also
forfeit any franchise or license which they
may hold from this state to porate or
hold the competing road which they own,
operate or are interested in, and the
company owning the railroad so con-
trol5d shall forfeit its charter, franchise
OF license to own and operate the same.
NO corporation owning or controlling a
line Of railroad which can compete as
above set forth shall make any consol-
idauou, amalgamation or merger of
stocks or franchises, or of railroads or
interests, and any contract or agreement
i1r the same shall be nun and void.
40 corporation, or individual or asso-
citation, or either or both, owning or oper-
atmg, directly or indirectly, any railroad
lying in whole or in part in this state, or
owning or controlling at the time, either
solely or i'm connection with others, a ma
j0rW Of the stock of the corporation
owning or controlling, by stock, owner
ship or otherwise, any such railroads,
shall own or be interested in the stock of
any corporation chartered by this state
which owns or leases, in whole or in part
or is otherwise interested in any rail-
road which competes in the manner set
tQlih in the first section Of this act with
the railroad or railroads so owned or op-
Grated 10y the parties seeking to acquire or
become interested in said stock of said
corporation last mentioned. A purchase
or acquisition of the stock of company
controlling said last named company by
stock ownership is likewise prohibited. In
The event of such acquisition the char
Ter Of the corporation IS forfeited. The
attorney general shall proceed to have
such dissolution decreed by the court,
'e' l44t property ana QlSlIlDQlt lllt plO-
eeels to the creditors and stockholders
according to law 1t is made the duty
OF the attorney general to see to the OBJ
serYance of the law and to use the courts
Tor that purpose. No corporation indi-
Fiaual or association or either or both,
unless each of them has ready been in
yoiporated by this state, shall purchase,
lease or operate any railroad lying in
rhoIe or in part i'm this state without,
d corporation, first filing in the office
WI the secretary of state a declaration
whereby it becomes a domestic corpora
"oh OF this state and receiving from such
secretary certificate of Incorporation
"laer the laws of this state or if an indi-
Nlauai or individuals, first becoming incor-
loIated under the laws of this state.
-fN1 all corporations of other states now
'peIdjlng by purchase, lease or otherwise,
oLI railroad lying in this state, by comfy
VI license shall, within three months from
.Hr passage of this act, become corpora
IONS oi this state in the manner above
rLesenoed. In default of compliance with
.9 act such purchases, leases or oper-
lions now or hereafter existing, are de-
Jared unlawful and the individuals or
ol.'iauons so purchasing, leasing or op-
'auHs The same shall have no right
receive or collect tolls therefor, or ex-
Ise any other franchise or functions
.'haected herewith"