The Montgomery advertiser., 1901-08-18

move the reconsideration of the ac-ion of the Convention, whereby the word | amendment was inserted.
 MT. Boone-Upon that 1t seems to me very briefly, as suggested to me oy my collcague, Mir. Pillans, that unless we retain some right to amend or alter theee charters, that 1t does not exist. On that poInt any fair reading of this article. and 1t is construed by the courts according to well known canons of construction you con- strue it is whole. and when you read 1t in that way, 1t IS clear, as the gentleman from Wilcox stated that those amendments or alter ations or the repeal of 1t, is to pc oy a general law.
 MT. cohb--win the gentleman allow a question? .-. I Mr. Boone-Certaiuly. .-I
 MT. Cobb-If you put In this clause the power to amend will not the enect nN tn confer upon the Legislature the power to make a charter? Where would you draw the line or distinction! ! MT. BooEe--I draw the line here: That whether We give the power to the Legisiature, or do not give the power to the Legislature, to amend, that II | is much wiser as to corporations Nhat have been heretofore granted charters, or that may be hereafter granted, to nut a limitation upon the power to grant exclusive privileges. or 10 grant rights and franchises which cannot De repealed, and that will stand forever as | contracts, such as Is pointed out ih the Birmingham Street Railway case in | 7s Ala. where Mir. Justice Somerviiie shows that gas light, water works, sew : ers rights of navigation, railroads. and hundreds of such things, rights or ex- | emption. from taxation. and numpers and numbers of the sovere gn powers | of the State have been given away. and that thereafter they could no; be taken away, altered or changed by the Leg islat ture and it is better to have this power here as 8 limitation upon the Legislature, even if they could amend charters than to put 1t in without the power of the people, and l ask that the Section as amended be read.
 Mir. Cobb-I understood you to take the position that where an act or in l corporation has once been passed It can not thereafter be repealed. and Is a contract.
 Mir. Boone--It is, unless there is a reservation either by general law, or in the charter. or in the Constitution of the power of repeal or amendment
 Mir. Cobb-Now you have in thls Sec ton the power of repeal?
 Mir. Buone-Yes sir.
 Mir. Cebb-The point make is, if you insert the power to amend, do you not thereby confer power upon the Legis- lature to absolutely charter corpora ton. ..
 MT. Boone-I think not. I think 1t
 would have the power to amend the charter. The corporations of this State
 when. the power of the State is wisely used to govern and con trol them. are the great developers of this State, and it might be wise In many instances to make an amendment of the charter, without exercising the drastic power of repeating 1t, and with out this amendment you could do noth- ing but repeal the charter.
 Mir. Ashcraft-Wiil you permit suggestion?
 Mir. B0one-Yes sir.
 CT. Ashcraft-If these words were
 transposed. and placed immediately after the words general laws" in the second line, l th.nk they would have the meaning you intend them to have. It would read: They shall pass gen eral laws. subject. nevertheless. to amendment. alteration or repeal, under which corporations may be organized and corporate powers of every nature obta tined"
 iMr. Boone-I do not think that would do, and + does seem to me that it is O. the utmost impor. rance that what is called in the law the visitorial power of the Legislature In behalf of the
 people, should he exercisable by the
 Lesis,s ture. That is The only way ir
 which it could be done. and think thai
 1; would not be wise to strip the Legis-
 lature of the power t1 amend, alter ol l fha nh r.fN nf
 tMr. O'Neal-Do you favor giving the General Assembly power to pass general laws to amend the charters ol the different corporations In the State Mir. Boone-No sir. do not. l claim that this language does not have thai effect, but if 1t did. it would be fal better to do 1t than to leave 1t for cor porations to get legislative acts through the General Assembly. and then have them operate as irrepealable contracts
 MT. Pillans-Might not corporations be chartered under the general law, anc be given the right to take 10 per cent interest, which would become part oi the charter contract and would not the clause as you propose it gVe the power to amend such charters thereafter, and might not the Legislature afterwards by general law amend all of the char. ters granted under general law an6 reduce the interest to s per cent. Whereas il they didn't have the pow CT to amend this charter. it would bt in effect, a contract, and the Legisla- ture would not have the power to com pei them to reduce the rate of interest to s per cent.
 Mr. B0one-l tn nk ably so Ar Piiians--Isnt that an illustration of how this does not necessarily per init local legisla tion. and conflic. with what we have already done?
 Mr. Boone-I think so. That s the law of ohio, as illustrated ia the case oL the city ot Hamilton against the Hamilton Gas Light and Coke Com pAny. There the matter is regulated bv general law. Look at the opin on oi Justice Harlan, pointing out the power to amend or repeal a charter as is fixed ny the general law and you vii find also under the laws of Ohio that corporations are formed by general laws and not by special acts.
 Mr Blackwell-3y the amendmen, proposed. couldn't you strike out ev- erythinS in the charter except the lead | ing of ft?
 MT. Boone-Yes sir.
 l MT. BlackwelI-And then if YOU amended it. wouldn't you have a new charter?
 Mir. Boone-I deny that would bf la charter, it would be jus the title of an act. A charter con templates the power to do sometn!hE in a well defined way. It is a statute giving you authority to do it in a cer lain manner and according to part a iT