The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-05-21

doubt justIfies the railroads in these ex-
tensions. but they would not be made II
these consultations were not permitted.
without consolidation they could not be
so ineXpensively operated, and the weak
and unknown companies have no sucn
financial standing as would enable them
to obtain the money. necessary TO make
these extensions The companies acquir-
ing these lines are fipancially well known.
Their bonds are valued at par on the
markets of the world and they could easily
Obtain sufficient money to make the addi-
ional extensions which they have assum-
ed.
1t Is, therefore, plain to be seen thai
the railroads have made many concessions
and that the grants given by this session
of the legislature have not be " wleiout
consideration; and the action OF the gov
ernor will secure to the people of the diff
ferent sections in which these extensions
are TO be made and in which these roads
Law. and to the entire State, valuable inn
provement and development and q large
expenditure in the material interests OF
the State.
AS said before, consolidation In this state
is no new thing, but this Is the first ln-
stance In many years, II ever before. where
railroads, as a consideration for the prlvi-
lege of consolidation. were required TO
make extensive extensions of their lines
and 10 incur he expenditure OF large sums
OF money in public improvements of which
the entire state receives the benefit.
Summing up the results of railroad con-
solidation legislation in this State since the
adoption of the railroad stock and bond
law, 1t will be seen First, that since 1891,
and during tie administrations of Gov
ernors Hogg and CuIberson, twenty five
different lines of railroad Of greater or
lesr length. comprising total OF more
than 1900 miles of railroad, were consol-
dated by special acts OF the legislature
OF this State
Second That every legal and constitu-
tonal question relating TO the consoiid7-
ton of railroads and incidentally to paral-
lei or competing lines, as well as the cues
ton of fact as to whether or not the lines
consolidated we're parallel or competing
which are involved in the consolidation
acts consolidating the roads authorized to
be consolidated during the administrations
OF Governors Hogg and Culberson, and
reference to the maps in the light of these
acts, as above indicated, will readily dis
close these facts.
It is worthy OF note that the issues, as
to whether or not the roads consolidated
under the two previous administrations
were parllel or competing lines, was not
expressly left open to the future adjudica-
tlon and determination Of the courts of
this State as is done in the present pills.
1t is also worthy of note that the con-
solidating acts prepared and redrafted to
meet the objections of Governor Sayers to
previous acts on the same subject, fully
preserve all of the rights of the State in
regard to the issuance OF stocks and bonds,
the prevention of the increase of indebted
ness on the acquired and constructed
roads. and in securing observance of and
obedience to the rates, rules and reguia-
tions of the railroad commission obliga-
tions which were not imposed by previous
legislation upon this subject