The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-04-07
THE WATER IN STOCKS.
Resolution Which He Introduced
in the senate Yesterday.

Austin. Texas, April 6-scuator Bowser
Introduced the joint resolution, which is
given in full below;
! Whereas. 1t is believed the private cor
porations Incorporated and organized uu-
der and by the virtue OF the law of this
State have in numerous instances violated
section 6. article II, of the CONSTITUTIONS
by issuing fictitious and fraudulent stocks
and bonds, and
Whereas, Such fictitious and fraudulent
stocks and bonds may by the lapse OF
I time. become fixed charges against prop
( erty Of such corporation and ultimately be
made the bass Of Increased rates OF freight
( fares. tolls. wharfage to be imposed upon
4 tho people 10 the great Injury OF the State
therefore be it
Resolved. by the legislature Of the state
OF Texas. /. That a camWissi ion composed
of three persons. learned in the law. be
and the same is hereby created with full
power aud authority, aud whose duty II
shall be to fully aud faithfully Investigate
aud ascertain any and all violations of sec
tion g. article y, of the Constitution of
this State by private corporations or
gained and Incorporated under and by
virtue of the laws thereof.
| And to this end for that purpose said
commission shall have fun power and au-
thority 10 send for persons and papers
and to issue writs OF subpoenas and other
| processes Necessary to secure the attend
ancc of any witness or witnesses TO ad-
minister oahs. and 10 impose such fines
aud punishments for violations Of its
process. and for coltcmpts, as the district
courts are now authorized by law to i'm
| pose. And il Is ho rebS made the duty of the
| shcrins of the several counties in this
State 10 execute and return all process
issued by said commission and directed
| and delivered to them,
| Ana after such investigation it shall be
the duty Of said commission to make a
full report thereof to the next session of
! the legislature. And at the same time to
| submit such measure or measures aud
recommendations as in opinion of said com
mission Will oifoctually correct such evils
and protect the people of the State against
| impositions arising therefrom
. That the governor be and he is hereby
authorized and empowered to appoint three
persons learned in the law, and possessing
| tho qualifications required by the con
stitution for the offices of CHIEF justice and
associate justices OF the supreme court Of
the state, who shall compose such COM
mission
| g. That said commission shall each re-
colve and be paid from and out of the an
preparation hereinafter made. the sum Of
$500 in full for their services rendered as
such commissioners which shall be paid
lApon the warran, OF the governor
! 4. That said commission shall organize
! by selecting one OF its members as presid-
ing officer OF the same, And II is hereby
| authorized and empowered to select and
appoint secretary 10 perform such duties
as may be required by the commission, who
is TO receive such compensation and such
allowances for expenses as may be fxed
and determined by said commission. not to
exceed In the aggregate the sum OF $500,
TO be paid as aforesaid upon the warron,
| of the governor
q That tho sum OF $500 or so much there.
Of as may be necessary. Is horeb, appro-
priaied out of any money in the treasury
not otherwise appropriated. for the nav.
mcht OF the compensation of the connlis.
sloners and secretary and expenses of the
latter. VI 'As