The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-04-20

than municipal, was submitted to the
constitutional convention yesterday,
by Chairman James. It optains sew
eral provisions that are likely to bring
q strong lobby around the hall. The
sections regarding railway, tele-
graph, telephone, insurance and bank
ing companies, contain many things
which are sure to bring on debate.
The substance of the article is as
follows:
Corporations may be formed under
general laws, but shall not be created
under special acts. Corporations in
existence at the time of the adoption
of the constitution, must file in the
Office of the secretary of state, an
acceptance of the provisions thereof.
Z, The legislature shall not extend
any franchise or charter, nor remit
the forfeiture of any franchise or
charter of any corporation now ex-
listing, or which shall hereafter exist
under the laws of this state.
The term corporation" shall in
clude associations and Joint stock
companies having any powers or
privilege of corporations not possessed
by individuals or partnerships, and
may sue and be sued.
Against Watering Stock.
Stock shall be issued to bona-fide
subscribers thereof, or their assignees.
Bonds on other obligations shall not
be given, except for money or prop
erty received or labor done Stock
Shall be increased only under general
laws, after due notice and by consent
of a majority of the stock. All ficti-
tious increase of stock or Indebtedness
shall be void.
Foreign corporations shall not be
favored over domestic corporations.
No corporation shall lease or alien
ate any franchise, so as to relieve the
franchise or property neld hereunder
from the liabilities of the lessor, or
grantor lessee, or grantee, contracted
or incurred in operation, use or enjoy
ment of such franchise or any of its
privileges.
Injurious Signs and Labels.
The legislature shall enact laws to
prohibit the use of names. signs, IL
ties, brands or labels by corporations
or persons, to the injury of the public.
The legislature cannot give railroad,
telegraph, telephone or electric light
franchises within cities or towns,
without the consent of the local au-
thoritics.
Corporations must have one or more
places of business, and an authorized
agent or agents in. the state, upon
whom process may be served.
No corporation shall engage in any
business ether than that expressly
authorized in its charter.
Corporate property will be subject
TO the right Of eminent domain like
individual property.
All railroad and other 5ransporta-
tion companies are common carriers,
and subject to legislative control. All
railroad companies shall receive and
transport each others passengers,
tonnage and cars, without delay or
discrimination.
No Rate Determinations.
No discrimination in charges or IA
cilities for transportation shall be
made by these companies between
places or persons, or in facilities for
transportation Of the same classes Of
freight or passengers, within the
state. or coming from or going to any
other state. Persons and property
transported shall be delivered at any
station or landing, at charges not ex-
ceeding the charges for the transpor-
tation of persons and property of the
same class, in the same direction. to
any more distant station OF 'anding.
Excursions and Communication tickets
9l1dg BE lSSutll dl SAlGNld4 4uAtS-
Railroad corporations shall not con-
solidate competing lines.
Rolling stock and other movable
property of railroads or other corpora
lions. shall be considered personal
property, and shall be liable to tax
alton, execution and sale, like indi-
vidual personal property.
Prevent Discrimination and Extor-
ton.
The legislature shall pass laws es-
tablishing reasonable maximum
freight and passenger rates, to cor
rect abuses and prevent discrimina-
tiop and eNtortion. and enforce them
=, adequate penalties. The legisla-
ture shall establish a railroad COM
mission.
When a railroad. telegraph. express
or other domestic corporation, consoli-
dates with a like foreign corporation
st shall not become a foreign corpora
lion, but the state courts snail retain
jurisdiction over corporate property as
though there were no consolidation.
Corporations shall not bring armed
persons or bodies into the state to pre-
serve peace or suppress violence. with
out authority Of law.
No office. employee, attorney or
agent of any corporation doing bust
ness under a municipal charter or
franchise shall be eligible to any mu-
nicipal Office. or employment therein.
Telegraph and Telephone.
Telegraph or telephone lines may be
constructed by any individual associa-
ton or corporation organized for the
purpose and companies must trans
init each others messages without de-
Law or discrimination. They shall be
subject to legislative control. Rail-
road companies shall not give special
privileges to any company. Telegraph
and telephone companies have eminent
domain.
Free passes or special rates shall not
be given by any corporation 10 legis-
later. or state officers.
Railroad companies within the state
shall allow transportation of matter
by any express company and shall
not give any express company any ad-
vantage over another.
As to Insurance Companies.
Stockholders of insurance companies
shall be personally liable for all OBJ
legations thereof accruing while they
are stockholders to the par value of
their stock, in addition to the amount
invested in their shares.
Insurance companies operating in |
the state or having agencies must de- |
posit with the state treasurer not less |
than 500, GOO in securities equivalent to |
cash as e guarantee fund to secure |
policy holders. And, only when such |
deposit is made, the secretary of state |
ports, to be printed at the expense of !
> !, .f,- 6o.1 Co.