The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1899-01-25
WEART EXPLAINS
He Tells How the Plank
Road Charter Was
Extended.
SO LAW RESPONSIBLE
Repeal Would Be Unconstitu-
tional-Forty Years Still
to Run.

as to the status of the Plank Road Com
pany. Spencer Weart, couns for the
corporation and for the North Jersey
Company, has given out a statement
Some of the men who have been agltat-
ing for the repeal or annulment OF the
charter have stated that the extension
was secured under the provisions OF the
General Corporation act. Mr. Weart
stated that an act of the Legislature,
passed April 9, 1889, provided for the ex-
tension.
1T seems to be the general opinion,
said Mr.. Weart, that the extension is Tor
fifty years from February "a next at
which time the original charter would
have expired, but that is not the case.
The extension is for fifty years from the
date of the passage of the act to which
1 have referred. So you see the charter
has only forty more years to run.
This law is entitled, AN act concerning
companies empowered to construct morse
railroads. 1t reads as follows
" That the time for commencing ana
completing any railroad of any corpora
ton heretofore organized under any spec
ial act of the Legislature of this STATE
and empowered by any supplements 70 tay
railroad tracks and operate a horse rail-
road, whose time limited Tor commencing
and completing the building of such rail-
road has expired, shall be extended lor
the further period of two years from the
passage of this act; provided, however,
that this act shall not apply to any cor
poration unless such corporation shall
first and. as a condition precedent to the
exercise of any power granted by this
act. file in the office of the Secretary OF
State an agreement to be approved by
the Governor and Attorney General,
waving all rights to exemption from tax
alton and from privileges and advantages
arising from any law or contract III any
there be) establishing any special MODE OF
taxation of any such corporation, and the
further agreement to be bound by any
general law of this State, now in existence
or that may hereafter be passed, axing
such corporations as are now authorized
to be taxed by the Legislature OF this
State, under any general law,
and further agreeing that the exercise OF
any power granted by this act shall not
in any way affect the rights of the State
(f any there EXIST, to take the property
of such corporation under any existing
law of the State, and agreeing, further
that all laws affecting such corporation
shall be subject to alteration or repeal by
the Legislatures; and, provided, further,
that if any street through which said
railroad is proposed to be located shall be
paved during the extension of time grant
ed by this act, in such case no railroad
track shall be laid down in said street
until the company proposing to construct
tie same shall pay to the proper au-
tEorities its pro rata share of the cost
of said pavement.
:. That the period of the existence OF
any such corporation is hereby extended
for fifty years from the passage of this
act.
Now, you can readily see," continued
Mr.. Weart, ''how the c~ompany's charter
was extended. All that was necessary
was this filing of the proper certificates
and other papers, and this wa done soon
after the passage of the act. The extern
sion then went into effect.
There is another matter to which you
might call attention. 1t is asserted by
some of the men who are agitating this
matter that the charter of the Plank
Road Company expressly provides that
it can be repealed at any time at the
will of the Legislature. There is no
SuCu pTONiSlOu AL Lie Clldl VI III dAS
of the laws supplemental thereto except
the brief reference in the act which I
have quoted.
1.-The Legislature has the power under
the Constitution to repeal or amend char
ter laws, as it has to repeal or amend
other laws. But it cannot repeal or
amend any law when such action inn
pairs existing contracts. When the gen.
tlemen who are seeking to take the COM
pany's charter away go to the Legisla-
ture, I think we can show that to re-
peal the charter would be to impair ex-
listing contracts, and that the repeal
would therefore be void
The Newark papers state that former
Assemblyman John L. Armitage and
Charles b. Matthews, who have been ac-
tive in the fight for the repeal of the
company's charter, have decided to call a
meeting of manufacturers and others IN
terested in the matter at the Newark
Board of Trade rooms on Monday next,
providing the rooms can be secured. 1t is
intended at this meeting to appoint a
to ecure legal advice as to the
best means of securing the repeal OF the
company's charter.
Arrangements for the demonstration OF
February "a, at which time the original
would have expired, will also be
The plan is for the men who take
part to drive over the road. refusing to
pay toll at either bridge and to wind up
with a dinner at Taylor's Hotel in Jersey
City.