The times. [volume] (Richmond, Va.) 1890-1903, 1902-02-20

sl1AsAuu1eI1I was 81OSl-yedSp.S 10y - -
MIR. O.F1aherty moved to amend Os
providing for the election of the com
smissioners by the General ASSEM- ply. Ete
asked what light had the Commietee on
Corporations seen on their ROAD 20 ~, ~
Smascus since the publication or tHelr
first report providing for the eiec1.oh OF
commissioners by the people: ne os-
clareG that they had first reporter ui'sliiiS
mously in favor of this.
Chairman Braxton strongly opposed the
amendment, while Air. Blair Favored lt.
3 He declared the Office would DE the so1test
sna, in the State. Members would nave
heir pockets fun of free passss. would
ride in palace cars, smoke zSo-ccnt cigars
and drink railroad champagne. II ne
was Governor he would appoint hlessrs.
Carter ingram and Wysor. because they
were big men, and, could, therefore, en-
low themselves. The amendment was re-
jected-yeas, III nays. u
Mr.. Blair offered un amendment pro-
gliding that not more than two members
of the commission should belong to the
same political party. He read from
speech made by Chairman BraAton to
support his amendment, but 1t was re-
siected-yeas. s: nays. 81.
Mr. Hamilton moved to amend by pro-
4yiding for terms Of twelve years instead
oil. six, and for salaries of not less than
81. 600 per year. instead of $500, the max
inlum salary as recommended. He was
E in favor of making it the high, st and m st
honorable tribunal in the State. They
ought to have long enough terms to-
make them free from demagogic influt
ences.
Chairman Bra1ton, IN opposing the
amendment. said out Of twenty-nine COM
missions IN the United States, an over
whelming majority of them were elected
for six years The amendment was re-
jected by such large majority there
vas no division called for.
The vots was next taken on the
amendment to fix tie salary at not less
Than $500. Chairman BraNton said he
most heartily approved OF this amend
mcnt himself, though he did not speak for
che committee. Inc amendment was
a1opted-ayes, 80; noes, Is.
.ine opponents OF tie corporation COM
mission were evidently Delighted at this
amendment MIR. BLrbuu. moved To
amcrG by providing tnat commissioners
lie appointed, their tel ms to expire IN 1875
Instead of 1903, and TO permit their sue
ccssors to be elected by the people Re-
jcctcd--aye s, u; noes, 50.
t.lr. " audili called utteI.tion 10 the fact
that tLere would be no legislative session
n io05, and an amendment offered by
MIN. substituting 1878 for 1900, was
adopted.
W.T.. Thornton moved to amend by max
ING the terms eight years instead of six.
rejected.
This was the last dig at section 9, only
Two amendments having been adop.ed
after Two days argument. Both of these
were approved by Chairman Braxton, the
one increasing salaries from $1,000 to
$500 and cnal. sing the date OF tine Legis-
luture being empowered to change the
MANNER Of SelsctinS comrni. sioners from
| 1909 TO 1865
LAWS AS TO BONDS.
| Chairman BraStcn asked to have Sec
ton is taken up. This section requires
| general laws regulating and confronting
| the issue OF stocks and bonds by corpora
lions TO be passed. Nj. BraXton an
| nounced an important amendment. He
| said the committee had recognized the
! fact that stock OF a company under
| modern conditions did not represent the
| amount of capita! invested as formerly.
| but rather the goodwill. and prospect of
| success Of the corpora ton. The amend
| ment met this view. It required publ
city, but the requirement that no statute
(. shall, be enacted authorizing any corpora
i ton to issue its stock as full paid at less
f! than par value had been stricken out.
| The amendment was adopted. The COM
! 1nittee then arose.
n!essrs CardwelI and Powers, a. commit
| tee from the House of Delegates, were
resented by Mr.. Thom. They notified
! the convention of q resolution inviting
the convention to hold its sessions in the
| hall Of the House of Delegates at any
hour of the day except from II to 5
o'clock Of each day. Mr.. Cardwell stated
that for two weeks or more the House
| would not use this much time. and would
| cheerfuIly arrange other hours.
On motion of Mr.. Thorn. the thanks Of
| the convention were extended for the
courtesy. with a message that the conven-
| t,on and already made arrangements for
the use Of another hall and would con-
J tinue to do so.
| The CONVENTION adjourned at 6:15 o'c1ocs
until 10 o'c.ccis to-day.