The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1895-11-20
LOST


that the State did not have sufficient
banks to keep "bank examiner" en-
pioyed.
Mr.. R. D. Lee wanted some further
restrictions thrown around the office:
The amendment was agreed to and
the whole section was then adopted in
the following shape: :,
Section Q. The general assembly
shall have no power to grant any spe-
cial charter for banking purposes, but
corporations or associations may be
formed for such purposes under the
general laws, with such privileges,
powers and limitations not inconsis-
tent with this Constitution as it may
deem proper. The general assembly
shall provide for the election of a
State bank examiner, and define the
duties and powers of such office. Said
office shall receive such compensation
as may be fixed by law.
| SECTION TEN
Was slightly amended, and was
passed in the following shape:
Sec. 10. Stock or bonds shall not be
issued by any corporation save for
labor done or money or property actual
ly received or subscribed, and all ficti-
cious increase of stock or indebted
ness shall be void.
SECTION ELEVEN.
Section II was then called up, DIR.
Stokes explaining the meaning of the
section, which he said was to allow
minority representation in voting.
This had been found in a good many
constitutions. The section was adopted
in the following shape: -,
Sec. II. The general assembly shall
provide by law for the election OF di,
rectors, trustees or managers OF all
corporations by the cumulative
plan; that is to say, so that each stock
holder shall be allowed to cast, In per-
son or by proxy, as many votes as the
number of shares he owns multiplied
by the number of directors, trustees
or managers to be elected, the same to
be cast for any one candidate or to be
distributed among two or more candl-
dates.
SECTION TWELVE
Sec. 12. Corporations shall not en-
gage in any business except that spe-
cifically authorized by their charter or
necessarily incident thereto.
SECTION THIRTEEN
was adopted as reported by the COM
mittee as follows: =,
Sec. 13. The general assembly shall
enact laws to prevent all trusts, COM
binations, contracts and agreements
inimical to the public welfare and to
prevent abuses, unjust discrimination
and extortion IN all charges of trans
porting and transmitting companies,
and shall pass laws for the supervision
andsregulation of such companies, by
commission or otherwise and shall pre-
vide adequate penalties, to the extent,
if necessary for that purpose, OF forfeit
ure of their franchises.
SECTION, FOURTEEN.
MIR. Breazeale moved to strike out Sec
ton IA. Lost yeas "a, nays IS.
DR.. Stokes offered some slight
amendments, which being adopted the
section passed in the following shape
Section IA. A commission is hereby
established, to be known as the rail.
road commission, which shall
be composed of not less than
three mem bers, whose powers
over all Transporting and trans
mitting corporations and duties, man,
ner of election and term of office shall
be regulated by law. Provided that
the members thereof shall be elected
at the expiration Of the terms OF the
present railroad commission, wE!o are
hereby continued in Office for the
terms for which they were elected, and
until otherwise provided by law, the
said commissioners shall have the
same powers and jurisdiction, perform
the same duties and receive the same
compensation as are now conferred,
prescribed and allotted by law to the
existing railroad commissioners.
Pending the consideration of section
Is, the Convention, on motion OF
Mr.. Hamel, adjourned.
SECTION FIFTEEN
COLUMBIA, Nov. 12.-Special: The
Convention got promptly to work
this morning -rssuming the consldera'
ton of the article on coporations.
The pending question was the mo
ton of Mr.. Fitch of Charleston to
strike out section Is, which read as
follows:
Section Is. Every employee of any
corporation doing business in this
Stale shall have the rights and RENE
dies for injury suffered by him from
the act or omission of such corporation
or its employees as are allowed by law
to other persons not employees. And
when death ensuses from any injury
to an employee the legal or personal
representative of such employee snail
have the same rights and remedies as
are allowed by law to such representa-
tives of other persons. Any contract
or agreement, expressed or implied,
made by any employee to waive the
benefit of this section shall be null
and void.
A SUBSTITUTE.
Al the very outset Mr.. w. B. Viii
son offered the following substitute
for section 15:
Section Is. Any employee of any
railroad corporation shall have the
same rights and remedies from any in,
Jury suffered by him from the acts OF
omissions of said corporations or its
employees as are allowed by law to
other persons not employees, when the
injury results from the negligence of
superior agent, an officer or of per,
son having the right to control or di'
rect the services of party injured,