The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-04

thorty that he will withdraw the fesls-a
nation altogether. It is not knt wn Wien
the Senator viii be able TO resume ms
duties in the convention, if indeed he
ever is.
The COMPUTATION ORDINANCE
Able Arguments Are made Against the Pros
posed Measure.
The CORPORATION Committee Of the Con-
stitutional Convention again heard argu-
nent yesterday afternoon IN opposltlon
To thu PROPOSED ordinance on corpora
items.
Quite a number Of business men from
different sections Of the Safe and mem
bers OF the convention were present Inc
meeting was held In the Supreme Court
OF Appeal. chamber, and lasted from $50
until 7:lo o'clock.
Speeches were made by Messrs. S. s.
Brooke, OF Roanoke; Barton Myers. of
Norfolk; T. 7. Fishburn. of Roanoke; e.
r. Moore. OF Covington; c. w. Compton,
et Roanoke, and John 2. Branch, Of
Richmond.
Other business men present We're:
Me-srs. ". A. Rinehardt, Of Covington;
Judge A. A. Phlesar, OF Christiansburg;
Judge John 3. Horsley. OF Lynchburs;
Roy, 5. Smith, of Roanoke; Judge John
Randolph. Tucker, OF Bedford City; and
Messr,. John A. Coke. ". Q. Shelton, s.
r. Morgan. and James H Dooley, OF
Richmond.
Judge S. s. Brooke. in Behalf of the
Board OF Trade, OF Roanoke presented
a protest adopted by that body against
the proposed ordinance On corporations.
SPEAKS FOR NORFOLK.
- 1IF IA r
able and extended, argument. He said
he was asked by some OF the business
men OF Norfolk to present their views
In opposition to some Of the sections Of
the ordinance. He said corporations We're
only q bundle of fagots, and in Virginia
they were necessarily poor fasots. The
only hope for Virgiria's development was
In corporations He said many OF the
sections Of the ordinance met with his
approval. but the proposition to give
corporation commission power to place
q value upon the assets or stock OF
corporation would be Of incalculsble DAM
age to development and would open the
doors wide for corruption. He instanced
9. proposed dry-dock and shipbuildins
yard, with q ss;ooo,ooo espital, that it would
be Impossible 40 carry through if such
8. law was passed. He said promoter,
or q lawyer with brains, energy and eSf
perierce should have the right to place
his own value on his services, when he
was. willing to- stake it, all on the sucE
cess of the enterprise. Without their
ideas, time, energy and professional ex4
sperience, the capital would never be in
vested to develop anything.
Mr.. Myers centended that corporation
ordinance such as the enc proposed,
would place Virginia out Of harmony
with the laws ct other states, and there
by prevent capital from being invested
In Virginia corporations He believed IN
preserving the sanctity Of the bonds OF
a corporation. and the provision giving
Judgment for damages G first lien on
the assets OF a eorperat ton, would utter
-ly destroy the integrity Of bonds.
FOR LEGISLATIVE ACTION.
Mr.. T. Z. Fishburn, OF Roanoke, made
an earnest speech in opposition to the
ordinance. He claimed that the matters
dealt with should be left to the Legisla-
stItution. he strongly protested against
tho IDEA OF q corporation commission
to pass in review. on the value Of the
stocks or bonds Of any Industrial enter
prize. He said it weuid breed corrup-
ton er stop development: that If he had
been commissioned by, the convention to
prepare bill to prohibit capital from
Z
prepare q better law to accomplish that
end than tho proposed article adopted by
thu eurnittee. He gnve illustrations Of
great enterprises in Roanoke, that never
could have been put On their feet or kept
going if such q Law Rs the one proposed
had ben in existence.
AN. UNWIsE EXPERIMENT..
Judge c. p lIeore, Of Coviaston. said
the adoption ef the proposed law by the
hAuf he ir3A r.
al and 1t would, therefore, be dangerous to
put 1t In the, organic law.
It should BE- left to the Legsla turel
ThcR II mistake was made or dam
nSe done the business interests Of the
State, tbs mischief could be speedily cor
reeted. He clsirea that there was nc
Eaere reason for limiting the indebtedness
viduxl. He opposed havirs a commits
sion elected by the people, saying he knew
hy sad experience that the Best men were
ret always elected.
lfr c. ". Compton. Of Roanoke, PIE
serted a set OF resolutions adopted by
tho Resnese Board Of Trade in eppo-
HAvE BEEN TALKING TOO MUCH.
Mr.. John P. Branch Of this city. said
that an Individual could dodge taxation.
but corporations could net He said his
bank paid about Ave per cent. on It's cap
ital in the share OF taxes He asserted
that the lever taxes were upon banks
the cheaper weuld money be to the PEG
sle. He said serne members ct the con-
ventien seemed to think that a eerpera-
ten was GENE kind OF a Wild animal that
needed to Be chained. MT. Granch made
q lsnE sreeeh and often raised a STERN
ct Laughter and arpIause He declared
that he would rather have the present
Constitution, negro suffrage and all. than
to see the proposed article on corpora ons
adopted: that he believed 1t was written
BY sons professor for ne sensible man
sS1, nh-uu,. letter, t,czcm - These
distressing skin diseases relieved by ono
arnifc.tien. Dr. Asnew'. Olntrn ert Is. a
potent cure for all eruptiens OF the SKIN.