The times. [volume] (Richmond, Va.) 1890-1903, 1902-01-24
BROAD Powers
ARE Conferred
Report in Favor Of Corpora
tion Commission.
| DUTIES ARE DEFINED
| Three Persons TO Constitute This
important Body.
/ PEOPLE MAY ELECT In FUTURE
| The Office of Railroad Commissioner aud
Board Of Public Works to Be Abolished.
Mr. Huutou Fought the Report aud
Was the Only Member TO Vote
Against It Features
OF the Plau.
PEOPLE MAY ELECT IN FUTURE.

| The Committee on Corporations has at
| ast completed its Iabors. The report was
signed by nearly all the members yes
| terlay afternoon and it was ordered TO
| be submitted to the convention this
| morning
+ When the committee met the first vote
was taken the substitute offered b.
Mr.. Hinton. This received but one vote. j
that of Mr. Hunton.a Judge Brooke was
| al sent on account of sickness. or he
W uld have probably voted for it,
The Braxton report was then amended
in a few particulars and was adopted by
the following vote:
Yea-Alessrs. Braxton. Ingram. Wy
sor, McIlwaine, Kendall, Vance and Stcb-
/ bins
/ Nays-NIr. Huuton-
The report was then signed by the seven
members who voted for it, and will he
! presented by Chairman Braxton to the
convention this morning. 1t Is docu-
r1ert of much Importance and covers the
question of employers liability to enl-
/ poyes, railroad regulation. corporation
commission, and general laws for the crc-
porationS.
THE ARTICLE IN FULL.
/ As amended and adopted by the COM
Inittee it reaus:
Section LAS used in this article. the
term corpora tiou." or company" shall
be construed to include all trusts. asso-s
Citations and joint stock companies having
/ any powers or privileges not possessed
by individuals or unlimited partnerships,
but to exclude all municipal corporations
or public eleenosynary institutions, asy-
luns or prisons owned or controlled by
the State: the term Charter. shall bs
construed to mean the charter f~inGor-
poratiou by Or under which any such
| corporation IS formed the term n trans
rortatfon company. shall be construed
to include any company trustee. or other
person owning. leasing or operating Tor.
hire q railroad, street railway. canal
steamboat. or steamboat line, and also
any sleeping. Or parlor. car company.
freight car company. car association. or.
car trust, express company, or company.
trustee, or person. In any way enSaged
in business as common carrier: over.
a view tn acquire in whole or i'll part ur-
der right of eminent domain the term
transportation companv'' shall be con-
strued to mean any company owning,
leasing or operating for hire any teie-=
graph or telephone line: the term
freight" shall be construed to mean. anr
| property transported received fer
| transportation by any transportation
company: the term public service cor
| poratton' shall be construed to include
all transport rita ton and transmission COM
panies, all gas, electric light, heat and
power companies. and all companies au-
thorlzed to exercise the right of eminent
domain, or to use. or occupy any street.
alley or public highway in manner not
permitted to the general public: the term
person, as used in this article shall be,
construed to include individuals. partner
ships and corporations. and to include
the plural as Well as singular number:
the term frank shalttbe construed tn
mean any paper issued bysa transmission
company and authorizing any person to
have any service OF said company FREQ
of charge; the term bond" shall include
all certificates or written evidence OF In
debtedness issued by any corporation Sc
cured by mortgage or trust deed. When
ever any provision of this article is ex-
pressed in language broad enough to
permit its application in particular cases
beyond the limitations imposed by the
!; Federal Constitution. such provision and
language shall be restricted in its inter-
pretation and application Just as if such
cases had been IN each case expressly
excepted from Its operation.
THEIR CREATION.
Section 2.-The creation of corporations
and the extension and amendment OF
charters (wllether heretofore or hereafter
grantedJ shall be provided for by genera.
} laws, uniform as TO the class OF corpo-
rations to which they relate. and no
charter shall be granted. ames.ded or ey-
; | tended by special act. nor shall authority
, in such matters be conferred upon any
tribunal or officer authorized to grant.
. amend or extend charters further than
to ascertain that the applicants have.
by complying with the requirements OF
the law. entitled themselves to the char
ter. amendment or extension applied fo-.
: Such general laws may be from time to
: time amended or repealed by the General
Assembly; and all charters or amend
mentS OF charters now existing and re-
vocab1e. or hereafter granted or extended.
shall De repealable at any time by special
! act, at the pleasure of the General AS
eral laws for The voluntary surrender OF
It's charter by any corporation. and for
the forfeiture of charters for Hou-user
or nis-user The General Assembly shall
s not. by special act. regulate the affair.
of any corporation. nor give it any spe-
cla, rights or privileges which may be
exercised without a departure from its
existing charter.
Z THE COMMISSION.
Section 3.-Tnere is hereby created 4
permanent commission. to consist eot
three members. which shall be known as
the State Corporation Commission. The
said commission shall; be appointed by
& the Governor. subject to confirmation by
the General Assembly in Joint session,
and their regular terms OF Office shall be
six years, respectively. except as to those
whom one shall hold office until the first
) day Of -., -:,,5 1865, one till the first
day Of ls. 1soa and 9ne one IN the llfs,
udy aoi tJus. ttes Stt1u CUtlI1HlS-
sioners first appointed shall. Immediately
after their appointment. forthwith enter
upon the duties of their Office and shall
elect one Of their members chairman OF
the commission which position they
{ shall annually refill by similar election,
!. No person appointed on said commission.
either for a regular term orsto I'LL a va
! cancy, shall continue in Office after the
8 General Assembly shall have refused 20
7 7 fcoufIrm his appointments. or after the
: General Assembly shall have adjourned
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