The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-03-12
downstairs do! .Tg.5 j who wants to take all your
The adjournment was taken at Sa5
TO sTIR THINGs Ur.
MaIOney's Proposition on Privat,
COrporatIong Has Strong Esn4,rs.

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nIaIOney's Proposition ON Pr;x.t.
Corporations Has Strong Features.
The proposition presented by Ma.
loney. of Weber, yesterday contains
! several striking provisions regarding
private corporations which will be
| alty 70 make a stir IN certain circles.
I These are radical departures from the
present statutes in many resnects In
the IrSt place, it provides that all
charters and special privileges TO cor
I Doratlons shall be void unless there
shal! have been a bona fide organiza-
\ IIon ana business begun in good faith,
/ Corporations are prohibited from ga
4 gaglhg In any business not expressly
I authorized by their charters and from
holdinS other real estate than that alb
\ Solutely needed in the conduct of their
/ business longer than five years under
! penaIty or escheat. Watering Of stock
is guarded against by prohibiting Is
sues for stocks or bonds except for
/ value received and giving them for
more than the market price of labor or
! property Foreign corporations must
have an authorized agent.
\ Inc state shall have the same right
/ OF eminent domain and police power
4 over corporations as over individuals.
/ iIdlIrOad and steamboat traffic must
I be so regulated TO prevent unjust dis
! examinations No common carrier shall
I contract for relief from common law
4 liability No common carrier is to give
I 10 public official passes or rates not
open to the public, under heavy pen
/ atty. and such officer receiving such q
! favor shall forfeit his office. Trusts,
\ pools or combinations to raise or lower
/ prices are absolutely prohibited. Free
( right to maintain telegraph and tele-
phone lines is given and all lines II St
connect and transmit one an0thscf5
/ messages without unreasonable delay
or discrimination. The right Of cities
and towns to regulate the stringinS OF
| wires is not infringed
! A domestic corporation which con-
SoliddteS with q foreign corporation is
\ not to become itself a, foreign corpora
ton. but the courts of Utah will retain
jurisdiction over the corporate prop
erty within the state No common
carrier company, including telegraph,
telephone and bridge companies, will
I be allowed to consolidate with another
and pool its earnings Foreign corpora
tons shall have no other rights than
domestic corporations. No franchises
are TO be leased or alienated 50 as TO
relieve the franchise or property haN1
thtreunder from the liabilities of the
lessor or grantOF lessee or grantee.
contracted or incurred in the operation,
use or enjoyment of such franchise or
any or Its privileges.
Any officer of a bank who shall take
deposits after he knows the bank Is
1nsolyent shall be individually respon-
s1ble for such deposits, and be guilty
also Of felony. In all cases the In
, solvency will be presumed to be known
, and the burden Of proof will be on the
I defendants. The legislature must make
: provisions for the forfeiture of all cor
pOrate charters where there has been
: abuse or misuse, or when such cor
porattons become detrimental to the
state. All elevators or storehouses
are declared to be public warehouses
subject to legislative control and khe
legislature is constrained to make I5NNFS
: for their proper conduct Joint stock
= companies and associations are in
? eluded as corporations.
There is also provision for a raYN5ad
commission. to consist Of three COM
fnissioners, to be elected at the coming
5 general election from the supreme
r court districts. They are to hold for
four years. No person shall be eligible
, who is in anyWise connected with
common carrier, and he must be aged
: 80, a citizen of Utah two years, and a.
resident of his district one year. The
= powers and duties Of the commission
are to be regulated by the legislature
| which must also take steps to prevent
nnalfeasance or rnisfeasahce in office.
Railroad companies are prohibited
from engaging in any other business,
such as coal, Mines factories or timber,
except such as shall be absolutely nee
essary in carrying on their business.
No railroad company, organized in an
other state, shall have the right Of
eminent domain in Utah until it shall
have organized under Utah laws. Roll
= ing stock and other movable railway
7 property is to be considered personality
and liable to execution the same as
such property of individuals and earn
ings and personal property Of a railway
. company are to be subject to attach
rnent COMPANIES must transfer ana
haul cars from other lines having ply
! steal connection, without delay or dis
elimination and without drawback or
! rebate in favor Of any person. No pre-
: ferentiaI agreements can be maze be-
tween persons. Companies must allow
uniting and crossing of other ltqes
wherever feasible First violation OF
any of these provisions means a pen
9 aIty of 50 GOO; second offense S0,OUU, ana
I third. forfeiture of franchises in case
/. of domestic corporations and rishhS 10
= do business in case of foreign cOrIt<4d-
] tinns. Except under consent Of the
commission greater rates must NOT De
2 charged for q shorter than t0r d longer
& distance. ,..
+ against the bringing into the state OF
armed bodies Of men to keep the peace
or preserve order, except on application
: of the legislature or governor, BACK
listing of men by corporations IS aOso-
I luteIy prohibited and the legislature Is
!, instructed to provide adequate PEN
= ( aIties.