The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-14
THE INDUSTRIAL Commission.
Hearing on tho Methods of Incorporating
Companies In New Jersey and Delaware.

whsHINGToS. Nov. l3-Tho Industrial Com
mission to-day heard testimony as 10 the methods
Of Incorporating companies in New Jersey. Della
ware and West Virginia. the three States whose
laws arc considered the most favorable to the
chartering Of corporations c. y. King Of New
Jersey was the FIRST Witness lie il the State
agent for New Jersey Of large number Of cor
porations chartered in New Jersey and is said
70 represent more corporations than any other
state agent in the country Mr. King explained
at some length the laws Of New jersey as far as
they affected corporations, giving a number Of
reasons why the State was 80 frequently chosen
by corporations seeking charter
4. p Nevin Of New York. who is specially
interested in the charterng Of corporations in
West Virginia, followed. His testimony dealt
with the methods OF chnr,ering companies under
the West Virginia laws. describing the laws
governing reports. transfer Of stock. &c.
j. Ernest Smith Of Wilmington. Del, the next
witness, Is engaged in handling the arrange.
ments for chnr,ering organizations under the
laws Of Delaware The State has recently adopt
I'd very liberal laws with the object Of attracting
more corporations 10 the State.
Mr. Smith testified as to the liability Of the
capital stock TO taxation. the methods OF keeping
hooks OF transfer and on other points relating Ia
;,oIporations graS!ed franchises by the State Of
lbcAware. The State reserved the right, he said.
by II. but doing all their business outside the
State, lust as II they were conducting their bust
ncss within the State. Delaware, he said, had
no State debt, and taxed its corporations very
within the next few years Delaware hoDed 10
secure by its new laws first the location Of cor.
poratlons within tie State, and, second, the pay
mrn's made by corporations IN return for fran
,hises He knew several companies which had
through this means been induced to locate their
factories in Delaware,
G. f. Edgerton, who is Interested in matters
affecting New Jersey corporations, testified in
regard TO the posting Of the names 81 the cor
porauons outside OF the Office Of its New Jersey
agent He found several instances in Jersey
tity where attorneys represented forty or fity
companies, but did not have the names of any 81
them posted outside their Offices az the law re-
CURED. Attorneys representing close corpora tons
whore the stock Is held by few stockholders did
not as general thing have the transfer book
IN their Office as thc law required, They thought
In such cases II was not a matter affecting Tie
tomeys said they would send for the books
The ub-cOmmiSsiOn on TRANSPORTATION will
On Wednesday begin ten days sitting at the
Auditorium Hotel in Chicago
violation OF Long and short Haul Clause.
WASHINGTON Nov. 13.-The Interstate Com.
msres Commission to-day announced it's
decision on the charge against the st. Louis
and Ban Francisco Railroad. involving alleged
violations OF the long and short clause on
freight rates to Chicago for Marshneld, spring
Held and other stations In Missouri. The com
mission says that the contention OF the com
pAny that II 10 merely "a legal carrier from
Marshted. 10 untenable. and the higher RAJ 81
from that point are unreasonable and IN viola
flon OF the long and short clause