Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1902-03-20

issued bonds far in excess of the limit
and the courts have held them good
The first case, to be found in the Sew
entieth Iowa, while not railroad case
mas furnished the precedent. In this
the supreme court held that after the
ponds had passed into the hands of the
purchaserthe railroad despite the lin
ltatlon, was liable for the same. Thus
they were able to dispose of their
bonds to any amount without much
trouble. But some technical lawyer
could still make difficulty by point.
Ing to the Iowa statute and working
thus to lower the price. The stockhold.
er could also enjoin the company from
exceeding the legal limitation, but this
was seldom. The bill which | intro
duced is only intended to give statu.
tory basis to that which before has
been taken as natural right. 1t has
been said that it does not protect the
minority stockholders. Yet as the law
will stand if this is passed it is ex-
pressly provided in the articles of in.
corporation or the articles amended to
provide for the same And this can.
not be done except upon vote of the
stockholders.
Merger Talk Fabrication.
Then all this talk of merger mea-
sure is without foundation?" asked.
"All that talk comes from one
source, and that the most unreliable
IN or about the state house or the CAPT.
tai city," was the reply. Il submitted
the bill to several of the senator's be-
fore 1t was presented and it was care
fully studied in committee by some
who We're suspicious of it, and the vote
proves that it hides nothing Senator
Hartman is, perhaps one of the long
est-headed men in the upper house, and
after careful study he declared himself
for the bill, and offered to defend it
on the floor, which he did Senator
Lister, who is really in instant expec.
tation that corporation will crush
him at some moment when he is off his
guard, went over it and after said to
me, as though he was disappointed:
I really cannot find anything which
Will prevent me from voting for this
bill But the same influence which
opposed it in the senate with the buga.
boo OF merger is trying again in the
house, though the members are get
ting onto the nature of the bill and
also the nature and true inwardness of
the opposition
Regulate Street Railways.
The house really took important ac-
ton yesterday afternoon when it pass
ed the bill introduced by Hamann, of
Scott, regulating and defining the pow.
ers of street railways. The measure as
1t finally passed is substitute and
was further amended just before pas
sage. The original and the substitute
both provided for fifty-year franchise
but the amendments cut this down to
twenty-five years. 1t passed finally by
a vote of 81 yeas to / nay, So being alb.
sent or not voting.
Senate Did Little.
Yesterday was st. Patrick's day. in
commemoration thereof Tim pono
1ue's desk was garlanded with green,
while the gentleman from O'Brien
was himself. decorated with sham
'ocks of the largest size. 1t was es
'entially day of gossip and little
work. The members who had gone
home over Sunday were slow in re-
weather adding to the delay
Inc senate attempted to hold session
,ut could not muster a quorum before
noon. Nevertheless Senator Whipple
managed to get in bill which limits
hes number of guards at the Fort Mad
son and Anamosa penitentiaries.
1ertofore these officials have been EN-.
oloyed in the ratio of one to ten pris-
'ners at Anamosa and one to eight at
Fort Madison. Owing to the increase
n prison population this ratio has been
ound insufficient to preserve proper
discipline, and the bill fixes the mini
mum number of guards at As for Ana
nosa and As for Fort Madison. A com.
nittee was also appointed to consider
he nominations sent in Saturday by
he governor and to report upon the
iame to the senate This committee
of Hubbard Cartwright
lambert, Dowell and Crossley.
Des Moines, March II, 1902.