The Montgomery advertiser., 1901-08-18
MT. watts--It will apply to all char

ters.
 The President-The previous ques- ton has been ordered. The Chairman of the Committee asks unanimous con- sent to accept the amendment offered by the gentleman from Madison. Is there objection? The Chair hears none. and it Is 90 ordered. The Chairman amendment offered by the gentleman from Montgomery. Is there ob5ectionf The Chair hears none. and it is SO or dered- The question will now be upon the adoption of the section as amended.
 Mir. Watts-Read 1t as amended.
 The Secretary read as follows: The Legislature shall pass no special act conferring corporate power. but they shall pass general laws under which porate powers obtained. subject. never theless, to repeal at the will of the Legislature: and shall pass general laws under which charters may be altered or amended. The Legislature shall. by general law. provide for the payment to the State of Alabama of a franchise tax by corporations organized under the laws of this State. which shall be in proportion to the amount of capital steck. The charter of any corporation shall be subject to amendment, altera- ttou OP TGpSdi Uu0cE 8CLeib l&Wo.
 Mr. Proctor-The Clerk did not read the amendment which has been adopt ed in the second line, to strike out "them'' and insert "it."
 The Presidential was done by unan- imous consent. The question Is on the adoption of the section as amended.
 Upon a vote being taken. the section as amended was adopted. n
 The Secretary read Section 2, as fol- lows:
 Sec. 3. All existing charters or grants of special or exclusive privi- leges, under which a bona fide orsani- zation shall not have taken place and business been commenced in good faith. within twelve months from the time of the ratification of this Constitution, shall thereafter have no validity.
 Mir. Walker-I desire to offer an amendment.
 The Secretary read the amendment as follows: "All existing charters or grants of special or exclusive privileges, under which a bona hde organization shall not have taken place and busi- ness been commenced in good faith. at the time of the ratification of this Con- stitution, shall thereafter have no val idity.
 The President-The question Is on the substitute offered by the gentleman from Madison.
 MT. walker-The substitute as offer cd Is a copy of Section in the Consti- tution of 1875. Under this provision, as reported by the Committee. 1t seems to me that there would be an implied recognition that there were existing charters now under which an orsaniza- tion has not taken place. by which spe- cial and exclusive privileges have been legally conferred. I do not think any such charter purporting to have nrivi- leges of that kind is legal under the Constitution of 1875. and this would be an implied recognition of the legality of something that is not legal now. Now, in 1875, when that provision was put in the Constitution. there were in existence charters conferring special and exclusive privileges heretosore granted by the Legislature. and that provision was simply the method adopt ed by the Constitution of protecting the previous acts of the Legislature. There is now no cause for extending pro- lection of that kind. Certainly. we are doing all that anybody could reason ably call for to protect charters Of that kind which have already been organ ized. conceive that there could De no such charters unless granted prior to 1873. and it strikes me the provision reported by the Committee would De an implied recognition of the validity of grants that now have no validity; in other words, would give life to some thing that now has no life.
 MT, Dent-Is there any field of opera ton for that section at all! .
 MT. walker-Yes, there IS nelo ot operation for it-that If there is ln tnas charter now granting exciusNe anu snecial privileges, this would De an implied recognition Of tnat ciass' ""'S" now has no validity.
 MT. Smith (Mobile)1But do you de- sire to withdraw allfbecause there 's one? +o cbar- ters that do. ....r.x, them
 Mr. Walker-No. sir; am TOT not giving life to those that do not eAie' u
 MT. Smith-Dont you y hu, nriV;,eees charters. whether exclusive priNAeee' or not? + n,t if as in the Constitution of 1S7o' ,d-
 ns. pi,lansLWouldn't your amend went destroy this sort of. corporatioh. Here is a corporation contempiat,ne .ha onAration of ship building and dry Sack corpany. that contemplates put t,r. ahout two million dollars into me ,Iant hv the second Section or whieii it is nrovided that the incorporators .h.n within twelve months from the Hate of the passage of the act. etc., which has not expired and may not eX- njre bv the time this Constitution is ratified. They provide that w'thin . rtain time after the books are opened tnAv would commence to do business in the State. would not the amendment yor suggest destroy that indusrriai corporation?
 Mir, Walker-I will state that my ob- feet was ot to take away valid char ters already granted. but those 1tner charter grants of special or exclusive nrivileRes. I do not want to have sec tion here to give such charters validity if they have not that validity now.
 MT. Pillans-Did not your section read "All existing charters or grants in the distunctive-"or" under which a bona fide organIzation shall not have taken place. etc." If you strike out charter" is it possible TOT a special act of the Legislature to in corporate any company that does not grant 1t special and exclusive privi- ieges? The exclusive privilege of be- ing that corporation, the special privi- lege of doing business under that char ter?
 MT. Walker-The objections urged by the gentleman from Mobile are equally applicable to the Constitution of 1875 it is a copy of that provision.
 MT. Graham CMontgomery)-I otfer
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