New-York tribune., 1903-04-08
HEARING ON GRAB BILLS"
Secrets of Suspicious Legislation To Be Aired
To-day.
TBY TELEGRAPH TO THE TRIBUNE.l


Albany April THE Senate Railway Committee
will give hearing tomorrow on the Street Rail-
way bill of Senator Wilcox. introduced on April =
and Senator Goodsells Street Railway BILL intro
duced in January. Both of these bills have been
actively opposed by the city authorities Of New
York City detrimental.
Charles S whitman. the Assistant Corporation
Counsel Of New York City, went TO Senator WILCOX
the chairman of the Senate Railway Committee
last night and applied for hearing on behalf OF
the city authorities upon the wilcox bill Senator
Wilcox said a hearing would be given upon the bill
at the regular time of the meeting OF the COM
rlittee on Wednesday.
When Senator wilcox was told tonight that 1t
Rad been declared that the hearing his bill was
a 'snsp hearing he said: Why ! granted the
hearing last night to Mr. Whitman as soon as II
asked 1t is true that the bill has not neeh De
fere the legislature long time, but 1t has peeh
here three or four days The Railroad Committee
will not only give a hearing on my bill tomorrow
but also think at time will report favorably
the Assembly bills authorizing The New-York Cen
tral TO enlarge its terminals in New York city.
Mr. Whitman made public to-day memorandum
against the bill of Wilcox, signed by George
I. Rives the Corporation Counsel of NeW-York
In this memorandum the statement is made tnat
the principal purpose of the bill is TO give exist
ence to certain corporations which failed Of incor-
poraon by of radical defects in the process
by which it was attempted to fern them.
Mr.. Riyes adds:
There is another important end Intended L. to
that Of the GoQdsell bill Il seeks to revive
or as the 10 case may yya%ax He AZ
which were fortunate enough to be incorporates
acted and to grant to them at the same time all
the special privileges and advaRtages OF me Genefa
Sufficient.
proposed to section 2 Of the Railroad law. This
amendment proposes TO create amended or supple
tion is somewhat startling. To create a corpora
tion and then provide, in this bill that the Ger
bZy vyfip INCORPORATED
amended or supplemented radically in substantial
thradieton. The General Corporation law already
provides remedy in cases where omissions or des
fects of formal character exist IN ceTtAcates OF
statute Rroydss n b that d if at tea Least u 10
scribed and paid in good faith and Ia cash to the
Of the certifcate Of Incorporation its Ming is void
The necessary conseq4e9ce OF TINS RoSsod does Is lnaf na
create a corporation The present amendment
provision that the corporation would actually come
into existence. and would continue uatll dissolved
erai under the principles discussed IN the matter
i48 r. Y 80 Further, the payment OF the per
centage of capital stock need no longer be in cash
The effect of these amendments Is most radical
Is kh0~f % r2 fHgeS b yo quo warranto PROCEEDINGS
In Of this kind is completely nugatory in pTac
tioe 1t is also known to every such lawyer that
payments on account of capital of a corporation
permitted TO be made in ANYTHING put cash are I9r
whenever Il suits the convenience OF the promoters
fore Of these amendments is TO repeal the present
provisions of law which check the lncorpoTauQn OF
paper railway companies and obstruct the path or
Speculative corporation promoters and Jobbers OF
public franchises.
Another. part of these proposed amendments re,
lates to forfeiture and the creation OF corporate
existence and its relation back. The wisdom of
permitting stale and sleeping claims to railroad
franchises corporate rights TO block the prog
ress OF real enterprises or possibly TO form the
basis Of blacmail for indefinite periods of time is
honest enterprise from the present law If there
is anv existing of special hardship caused by
the operation of statute let it be disclosed frankly
and a remedy undoubtedly will be applied, II pos
sihie without running the great risk of altering
the general policy adopted by the State for many
wears and which has been found salutary ana EN-
cient IN practice. The great importance OF the
public property in franchises in the connection
needs discussion