The age-herald., 1901-08-18

| by law or by contract, except upon the l condition that such corporation shall thereafter hold it's charter subject to the 1 provisions of this constitutions, and every amendment of any charter of any cor poration in this state or any special law for it's benefit, accepted thereby. shall op- crate as a novation of said charter, and shall bring the same under the provision of this constitution: Provided that this section shall not extend to any amend ment for the purpose of allowing any ex- isting road to take stock in or aid in building, of any branch road.
 MT. O'Neal moved to strike out the word special" In line two. This amend ment was tabled.
 Judge Walker moved to strike out all after the word constitution. so as to leave the section as in the present constitu- ton. This was accepted by the committee and the section as thus amended was adopted.
 MT Smith, chairman of the rules com mittee. reported an amendment to rule 3 so as to allow the committee on har- mony to report at any time and providing how its report may be adopted or amend ed.
 Also a resolution authorizing 1000 copies of the official report to be printed and published.
 
 Section 4, relating to foreign corpora tions, was read as follows:
 Section A. No foreign corporation shall do any business in this State without having at least one known place of busi- ness and an authorized agent or agents therein, and without filing with the Sec retary of State certified copy of It's arti- cles of incorporation or association. and of the law and authority under which it Is incorporated. Such corporation may be sued in any county where 1t does busi- ness, by service of process upon an agent anywhere In the State. The Legislature shall, by general law, provide for the payment to the State of Alabama of a franchise tax by such corporation, which shall be the same as that required of do- nestle corporations and in proportion to the amount of its capital stock, but strictly benevolent or religious corpora tions shall not be required to pay such a tax
 General Harrison asked leave to amend this section by striking out that part of the section which required copy Of the law and authority under which foreign corporations were chartered to be filed. This was accepted.
 Mfr. Kyle of Etowah moved to amend by requiring the franchise tax to be based on capitalization. This amendment was accepted and tho section as thus amended adopted.
 Section 5.
 Section was read as follows:
 Sec. D. No corporation shall engage in any business other than that authorized in it's charter.
 Mir. Pettus of Limestone offered an amendment, which presided that any corporation violating this section shall be liable in damages proximate or re> mote.
 MT. Pettus spoke in favor of his amend s<,ent, and said it would do more to reg ulate corporations than all the criminal laws on the statute books
 MT. Boone moved to table the amend ment, which was done.
 MT Smith of Mobile moved to amend by Inserting the words ''authorfzed by law" instead of ''authorized in it's char ter"
 This amendment was defeated and sec- ton adopted. Section 6 was adopted as follows:
 Sec G. No corporation shall issue stock or bonds except for money, labor done, or money or property actually receivedi and all fictitious increase of stock or in- debtedness shall be void. The stock and bonded indebtedness of corporations snail not be increased except in pursuance or general laws, nor without the consent
  fin value of stock, first obtained at meeting to be held after thirty days notice given in pursuance of law. Section was read as foflows;, Section 7--Municipal and other oorpor- ations and individuals invested with the privilege of taking private property Tor public use, shall make just compensation, to be ascertained as may be provided by law, for the property taken, injured or destroyed by the construction or enlarge nent of It's works, highways or improve ments, which compensation shall be paid before such taking, injury. or destruction. The Legislature Is hereby prohibited from depriving any person of an appeal from any preliminary assessment of damages against any such corporations | or individuals made by viewers or other | wise, but such appeal shall not deprive the person who has obtained the Judgment | or oondemna tion from a right of entry, 1 provided he shall have given bond with | good and sufficient sureties to pay such damages as the property owner may sus- | tain; and the amount of such damages in all cases of appeal shall. on the de- mand of either party. be determined by jury according to law. | MT. Beddow moved to strike out the | provision permitting the right of entry | appeal Judge Walker offered an amend ment providing that bond shall be double the amount of damages. This was &C., cepted. Captain White spoke in favor of | the Beddow amendment MT. Smith i spoke in favor of the committees report. The Beddow amendment was tabled and | the section adopted.
 Section 8 was adopted as follows: Section 8. Dues from private corpora | tions shall be secured by such means as may be prescribed by law, but In no case 1 shall any stockholder be individually iia- | Hxl kt,. "a l owned by him or her. The engrossment committee then re- | ported the article on judiciary. This was adopted by a vote of 79 to 9. The con vention then adjourned until 12 o'clock Monday.