New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-04-25
PORTO RICAN FRANCHISES.
THE HOUSE ADOPTS THE AMENDED
SENATE RESOLUTION WITH ONLY
ONE DISSENTING VOTE.
[BY TELEGRAPH TO THE rR1BrxE.l

Washington April 24.-Without division and
with only one negative vote-that of Mr. Hill of
Cornecticut-the House Of Representatives to-
dav passed the Senate joint resolution TO pro-
vide for the administration of civil offices in
Porto Rico pending the appointment and qualf-
cation Of the officers provided by the act ap-
proved on april -. after It had adopted by a
Ike vote the amendments relating TO franchises
which had been recommended by the Committee
on Insular Affairs. All this not accom-
plished without some difficulty. for the amend
nents narrowly escaped defeat a point Of
order raised by Mr Hill. The Speaker sustained
Nj HIS contention that amendments were not
gernane. but after having the notes of the pro-
ceedings Transcribed and read ne decided that
the point vas raised too late. The point how
ever. gave some Of the parliamentary experts an
opportunity to exhibit their knowledge for the
e6ihcation o. the House and the delight of Will
lam u. Springer, who happened to be visitor.
When he was member Of the House 1t used TO
be said that Mr.. Springer habtually slept with
a copy II the rules and manual under his pillow
and Il is certain that a great many of his waking
hours were spent in discussing points Of order
A LIVELY DEBATE.
The debate on the amendments was brisk and
interesting albeit one sided. the only member
opposing them being Mr.. Hill. who declared his
stance" Of the proposed safeguards against the
II, improper granting of tmprovident franchises.
Chairman Cooper. who had charge Of the joint
resolution. made a strong argument in favor of
Il and CT the amendments. A prominent feature
Of his speech was the editorial published in The
Tribune last Thursday. which he read with
much expression and emphasis. He pointed out
that nearly every State had provided either in
lis Constitution or by law franchise restrictions
similar e ard certainly not less careful than
those provided in the House amendments and
that the wisdom and necessity of such legislation
had been repeatedly and conclusively demon
strated by experience.
When Mr.. HIS turn came TO speak he made
4 clear that one Of mis- chief objections If not
the chief one was TO the provision that corpora
tons other than those organized in Porto Rico
and doing business therein shall be bound by the
provisions Cf the amendment. He also objected
n and argued against the provision prohibiting
corporations from engaging in agriculture
dealing in real estate in the island and also the
one requiring banking corporations which may
acquire real estate in the collection of loans to
sell il within five years.
Mr. HIS arguments and objections were fully
answered by Mr.. Cooper well by Mr.
Jones. Of Virginia. and Messrs. Maddox and
RidgeIy. speaking for the minority.
TEXT OF THE AMENDMENTS.
The text of the House amendments is as fol-
lows:
e in cfon T Tad act h al be- aPpTd2ed
by The President Of the United States. and no
such franchise. privilege concession shall be
operative until il shall have been so approved
That ali charters granting any franchises priv
Ieges or concessions mentioned in Section 80 OF
said act TO private corporations shall provide that
the same shall be subject TO amen dment, alteration
or repeal. shall forbid the issue of stock bonds
except In exchange for actual cash property al
q fair valuation equal in amount to the par value
q the stock or bonds issued shall forbid the de-
clarIng of stock or bond dividends, and. in the
case Il PUBLIC service oTatiOns. shall provide
FOR the effective regulation of the charges thereof
and for. the purchase or taking by the public au-
thCrities Of their property at fair valuation. No
corporation shall be authorized conduct the
business Of buying and selling real estate. of issu-
ing currency of engaging in agriculture, per-
mitted 10 hold own real estate. except such as
out the purposes for which il was created. Bank
ing corporations. however, may be authorized 10
loan funds upon Tea estate security. and TO pur-
chase real estate when necessary for the collection
q oans but they shall dispose Of all real estate
obtained WITHIN five years after receiving the
tide Corporations other than those organized in
Porto Rico and doing business therein shall be
bound by the provisions of this section. far as
they are applicable
The Senate disagreed to the amendments and
asked the House for conference.