The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-12-18
SECURING
OFCHARTERS
a Movement to Amend the Pres
cilt Dilatory and Climber
some Plan. y
WHAT LAWYERS THINK or 1T.
Remarks of Mr.. A. C, Braxtol1
on the Subject ii, the Cor
poration Commission.

Among the bills yet to be considered by
the General Assembly is Senate bill 401
to amend section of chapter Of an act
concerning corporations, which became a
law May 21st, 1908. The purpose Of tho
amendment Is to simplify the method
prescribed for the granting and amend
meht OF charters of business or CONNER
cinl corporations, and to rid It Of tho
father cumbro,ls method now provided by
the statute proposed to DO amended,
The amendment Is to section 3 Of tho
act, and proposes to strike outthe words
used in reference to certificates of in
corporation, shall be- presented In term
time OF, in vacation to the Judge OF the
circuit court of the county, or to the cir
cult, corporation or chancery court or tho
city wherein the principal Office OF the
corporation is to be located. Such Judge
shall thercupon certify whether in his
opinion. such certificate is signed and
acknowledged in accordance with the re-
ti,lirements Of this act, and II not, IN
what respects 1t Is faulty" and the con-
sequential provision 'as soon as the Ger
tiflcate Is SO endorsed by the 1uage
Section 1855 a of the Constitution says
on this subject: Subject to the proVi-
sIons of this Constitution and to such
requirements, rules and regulations as
may be prescribed by law Il. e,, ny legls-
lative enactnenD the State Corporation
Commission shall be the department or
government through which shall pc IS
sued all charters and amendments or en-
tensions thereof, for domestic corpora
tions, and all licenses to DO business III
this State to foreign corporations ul ~
through which shall be carried out a.
TIA provisions Of this Constitution, ana OF
tha laws made In pursuance thereof. for
the crea ton, visitation, supervisor resu-t
lation and control of corporations cnar,
tered by or doing business in this state.
PURPOSE TO SIMPLIFY.
That language Is construed oy sonle
To confer upon the Corporation Commits
sIon and exclusively thereupon, all power
Is, relation to corporations OF the class
described Its purpose ana intent, II IS
contend.sd, we're to simplify as 1ar as
practicable, without detrment TO the
States interests. the charterlns VI ~ ~
nestle corporations
AS cumulative evidence of the intent OF
the trainers Of the Constitution and ths
,,lrpose sought to be accomplished IN the
creation of the Corporation COMMISSION,
the files OF tho Richmond Dispatch OF
FEBRUARY 4th, 1902, comprising the state
noent Of Mr., Braxton, of Staunton, cnair-
NAN Of the Corporation Committee OF the
Convention, throw hent
unon the subject. In the course u ne
speech in defining the purposes OF ny
trien proposed Corporation Conll!''ss'o ~
and the Duties and power inten rnaa,,ar
ho conferred upon them. the speaker
sa,d ~. thIs very phase Of the subject:
..It saen,.d 70 lis. therefore, but renson-
a,,a Wi,e,, wa came to deal with a SUD
Jet Of such vast i np9taG e e is e eon
that theTe hSs sspeoa Tie
s11esu .ru and not that it SHOULD re
lacked as sSeTfHiSSeensfe ep r M
d di st goyernn1ent officers to consider
thaf aIong with other duties which they
have which are not not idea a 10 f t1s ali
the le' departments Of the State. in every
respects as they relate to corporations,
and bring them under the head OF one Ie
great department S aeVoern stuation
- GRINDING OUT CHARTERS.
I'VE found that all the courts %Gre t rndIng
out the GommonT nv dav WS Without uni5
fornity A. of action and without any regu-
larity. with nobody keeping tIack Of them read
we, found the Secretary OF ,Sta a cha chsrl
ters. We found the Auditor, charged win
collecting reports from banks and tnsul.
ance companies. We found the Board OF
Public Works charged with assessing inc
Of certain other kinds Of corPo-
rations. We found the Railroad Comm 3,
sioner charged with looking e after stu u
another kind Of corporation. PIX hehn,rt-
ments of the government were l , LOOKING !Ia
rious capacities. We thought the best
ard wisest thing to do. without changing
those functions at all, was simply to col
lect them together and put them under
one department, charged with the eXciu-
sive duty of looking after corporate Il
terests, constructed especially with rel
erence to that thing, headed hy men zen
corporate situation as 1t existed, capa-
BILE of advising tho General Assembly,
when they come here. through their annu-
nj reports. Of what Is wise and unwise
In the dealing of the state with those
80 far as private corporations arc CON
we simply say that all functions
Of tho State III crea ting, regulating, SUI
pervlsing and controlling these corpora
ed or contracted, shall be, brought to-
gethcr and performed through this one de-
Of government 80 When a
man wants q charter instead Of going to
the court and leaving It to the judge, un-
restrained. to say whether he will grant
the charter or Will not grant 1t, or on
what terms he Will grant i, he makes
poration Commission. which IL bound to
grant 4 charter when asked for, pro-