The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-05-12
MERGER OF
RAILROADS
That Clause of House Bill
1O2 is Modified.
THE CONFERENCE REPORT
Existing Charters Are Protected, and
Where Merger is Gone Into Without
Approval of Commission, Ex-
etnption is Forfeited,
THE CONFERENCE REPORT

The Conference Committee on the dis
n,sl eeing votes between the Senate and
House on House bill 1O2. relating to cor
poratlons. reached a report yesterday
afternoon. and the same was laid before
the House and orGered printed.
Mr.. Churchman. OF the Conference
Committee on the part OF the House,
urged that the report be agreed % at
once. as the bill was OF urgent neces-
sity,. but Mr.. Folkes made objections and
1t went over until to-day. Mr.. Boaz OF
the committee, briefly explained the ro-
port and by unanimous consent it went
over.
posed OF N1essrs. Mcllwaine. Wlckham
and Harvey on the part Of the Senate
and Messrs Churchman, Cation and BoaI
on the part OF the House Both the
Senate and House receded from their
positions with reference to the merger
clause. and new one. in the nature OF
n compromise. was presented.
bodies more OF the House than OF the
Senate features, and the confetees on
tile part Of the former express their
satisfaction at tho result
For that matter. 1t is satisfactory to
both sides. as is evidenced by the fact
that all the members Of both committees
signed the report.
REPORT IN FULL.
Tho report OF the Conference Commit
tee in full is as folows
The undersigned members OF the Con-
ference Committee upon the dlsagree..
D .e on House bill No 1902. entitled
spectfullv recommend mai tho House , : re- :
a amer to to sub section IL: page q,
lines 81 to 81, both inclusive OF engross.e;a
bill and that the Senate resede fr1m i,s
came from the House, and IN 81 ileu
thereof said subsection "E" be made TO
read 49, as folS 'Hato or merge into Itself,
purchase or lease the works., property
and franchises. or any part the thereof e OF
dea EaF a%s 5hIs enoSe
State. or Of this State and another. or
other States. and to sell or lease It's
part thereof to any other such cor
Doration cha rtered and organized under
the laws Of this STATE ei,I proyldeS ho o
thorize or be construed to permit the
purchase. lease. sale. consolidation i or Q,
abiTes Of e r lhf @dsks With
between points. both Of which are WITHIN
this State. or lines between the sage
in this state; whether such aG ~. lines De
| operated by the same or different mo-
| tive power.
PROTECT VESTED RIGHTS.
Nothing in this act shall be con-
strued to limit or invalidate any OF
the provisions Of any charter now In
force. which has been hedetofore granted
to any railroad corporation RI, by 4 an t act o.
| vided. however. that II any railroad
company heretofore organized under any
| law of this State shall hereafter purr..
any any railroad competitive with It between
| points both of which are within this
| State then the company so purchasing
! merging or consolidating. shall thereby
| be deemed to surrender. and shall thereby
der section l214 of the Code Of Virginia
| from the power of the State to change
| its tolls vii ilout its assent, unless said
| purchase. merger or consolidation be ap-
! proved by the State Corporation Commits
such such surrender. Should any railroad cor
| poraton heretofore chartered by. an act
Of the General Assembly. Of this State
| be merged into. or consolidated into. or
| be acquired by a foreign corporation IN
such way that the eorporation Of this
poIaton OF this state, then such foreign
| corporation go consolidating, merging or
acquiring such railroad shall; as a con-
| dtlon precedent TO- the validity Of any
file with the State Corporation Commits,
S Sy the nn sea of said oresn
ton and the signatures OF Its president
and secretary. acknowledging itself TO
| of vi--inia rs ~ its works, property and
| franchises within the territorial limits
| of the said State of Virginia, and sub
iect to It's laws and the jurisdiction of It's
! courts