The Montgomery advertiser., 1901-08-20

comes injurious to citizens.
 Section Il regulates telegraph and telephone companies.
 Section F provides that corporations may sue and be sued. Section 13 de- fines the meaning of the word corpora tion in the Constitution.
 The Minority Report. At this point the Convention took up the minority report, signed by Messrs. Cofer of Cullman, Proctor of Jackson and Long of Butler. They presented an independent section, to be known as Section 13 1-2. It provided that no cor poration shall collect a greater rate of interest than, the legal rate, and was constructed to reach building and loan associations.
 Mir. Proctor of Jackson addressed the Convention. He said that building and loan associations frequently collected as much as 20 and 25 per cent interest. He cited a case where a person bor- rowed $S,O00 and had to pay $7,o0o for It.. At this point MT. Pettus of Lime stone moved to reconsider the vote by which the Sanford tag tax resolution was adopted Saturday. By agreement, the motion went over until today.
 Judge Howze of Jefferson spoke against the minority report relating to usurious interest. Before he con- cluded, the Convention, at 1 o'clock, took a recess until 3:30 o'clock.
 THE AFTERNOON SESSION.
 The Convention reassembled at 3:3o o'clock with ninty-four delegates pres ent.
 Arising to a point of personal priv ilege MT. Long of Walker read from The Woman's Journal, published in prIfiniGmS 0f his speech on woman's suffrage. Mir. Long said the stenographic report would show that the criticisms were unjust. He declared that the only women he ever saw who wanted to vote were so ugly that they could not get married. If he had said anything in his speech that would have met the approval of Boston people he said he would be ashamed of it. Boston, he said, was the only city he had ever visited where he saw white women hanging upon the arms of negro husbands.
 On motion of MT. Jackson of Lee, the privileges of the floor of the Conven- ton were extended to Hon. T. l.. Ken nedy of Opelika.
 Rates of Interest.
 Judge Howze of Jefferson. continued his argument against the minority re- port to the Corporations Article which provides that Building and Loan As sociations cannot charge greater than a legal rate of interest. He argued that it was purely a legislative matter, and should have no place in the Con- stitution.
 MT. Cofer of Cullman, spoke In sup port of the minority report. He char acterized Building and Loan Associa- tions as gigantic frauds" and said that while the subject was one of legisla- tive enactment many excellent reforms had been put into the Constitution which were subjects of legislative en- actmenr.
 Mir. Long of Butler, spoke for the minority report He said Building and Loan Associations worked "a gold brick scheme on the people," He was op. posed to any proposition that permitted injustice to the people.
 MT. Spraggins of Madison, spoke in favor of the minority report. He said instead of being controlled by the Leg islature the Building and Loan Assocl- ations of Alabama had been usually favored by the Leg glslature.
 At this point, on motion of Mr Bull ger of Tallapoosa, the privilege of the floor was extended to Hon. Benjam Huey of Perry County.
 Judge Walker of Madison, then spoke against the minority report. He asked the delegates not to be moved by state ments that because some Building and Loan Associations had been misman- aged they would practically be strick en down. He spoke of the great benefit of these associations to the common people and said that because some of them had been mismanaged it was no reason why all of them should be str. cken down.
 MT Macdonald of Montgomery, said tha. the Alabama Supreme Court had decided that Building and Loan Asso- citations were removed from law and the contracts could not be reached. He said this was the character of corpor- ations created by the Legislature. He | sharply criticised Building and Loan | Associations and earnestly supported | the minority report.
 By unanimous consent Mir. Proctor of | Jackson. spoke the second time for the | report. He said it did not |
 Continued on Page Eighty