The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-03-29

ssvf
As " ht,dopbtedly iittnded sth !,
feXt,,ara ~ the Constitution. aid cspdcla
XII . tbftt bart which reterre ID to tie SCR.
IA jsotatlon Commission, TO put az the
Il Savers Tor granting or refusing eharte ~
iH the hands of ono central body uti! VI VI
III SycfS ound Under NV W ! Ialh. ~
sEsSS s,,aster when the requirements OF we
SSs inr5sin such cases had beet, coilplied!i
Ssl.SSs I, Git was further Intended to lihvo All
81 snnh1 charters and Information Sre ln1pp p
n Hereto tlled at ono plncc. and not d 20
M hAye tho information " rs at present. Kept
" RUart 8 tie Railroad Co,nlnls ol !,
VA iianI part II, The Auditors Office, and part
ill., the Secretary OF tho Com I'm on ea''
n sss'' GID SYSTEM tJNC1rAN GDD.
S5sgSfnsteati az THIS tie object was TO nave
u AiiHlnfor,nat,on Ii, regard 70 tho names,
sfnckholdcrs, officers, attorneys ETC.. Q!
8S M. and all corporations kept o., record
MN ono central Office from, which 4 a M
8t,ftper Information could be gotten y. ~
u rect by public. It would seem. mere.
fore that Iiouso bill #1o1 practically
III continues the old system. In addition 10
This " Is urged that tho roundnbont
n method II; or incorporation REQUIRED ~
st@1in,,se bllii1n2 would add greatlyet 70 thE e
n n ncnsc OF obtaining charters by reason t
}Ssnftsihe fees which would be required from,
III cacli ONCE through, which tho nppl alton
B af,d certificate passed. On the other lanu'
MA N YR,,a 4 learned by n Times Dispntch re-
3si,nrte, s that one reason for not having
%nil the private corporation charters IS
u sued direct from tile Corporation Com
M mission MS the railroad, telegraph ana
nthcr public CORPORATION charters are,
q ;ysas duo to desire not to infringe or
4 abate tho perqnisites OF lawyers III ,re
III outlying districts, It being feared th a.
were d contrary course adopted All OF !. nc i,
corporation practice woula .m,.,ea'h ha,S.
4 bc ccntered In Richmond. It IS true, now low
NJ az or, that the suits against the pnDiiio
CORPORATIONS will. as at present. DC
NJ Brought iii the county OF s& corporal ion
where such action arises, and that the
~ advantage ID tho State OF Virginia ~
S,iaying all Of Its corporations recorded
and tabulated In one central office IN adj
1T dition TO the advantage which VII come 1
a, from speedy and simple method OF; set-
" Ting charters, will more thai, outweigh
IS any prospective loss to local lawyers.
A IA soNE OTHER POINTS. ftai
s{slSIn some other points discussing chapter
I'M (Which refers to railroads. the atten.S
gsSt ion OF the Senate has already af been
drawn to the now celebrated subsection
(e)S 90! of chapter 9, on mergers. as fnf rs
3Ssy ,a,, l6ha learned 1t seems that tho scntl-
N S(e> 3 1t stnnds5$ha assumed such pro-
n portions that a. modification VIII be
IL brought about prohibiting the merger or
ssy ni1y parallel or competing lines. But,
Il IT is also pointed out that subse ction, tol
rs Of section 9, gives the railroads the rlsh i
rs construct, maintain and operate az,
ID necessary or convenient telegraph and
ri halenhone lines 8in connection with and
\ asa part OF their business. Some mem
Il bors are asking why that plraseology
y should DO used. for 1t gives the railroads
VI tin right to operate telegraph lines or
N telephone lines anywhere they choose
~ throughout tho State It has been SUE
IL gcsted that Ut would be better tos sa!
835tt,shnlli have power to operate all tleces.
Eary elegraph and telephone sllhes, ioeate :,
Is along the right or$ way jof So "a rallrond.%@$
4 Another gentleman In discussing House
S#bill lo2, has pointed out that there is
N 10 mu tualaright OF appeal to the Supreme
If Court when the Corporation Commission
"a finds athat3a railroad is II matter OF public
Y conveneience Suppose, for example,
Sttat one road were desirlous OF keeping
NJ nnother road out. said this gentleman
$g ana to this end wished to build along a
.#cemain88line that would preclude they
q other road from entering that section
of}4thcs country, II the Corporation Com
8#I11ission were to find that the road were
Il not u subject OF public utility, the rail-
n roa d. could appeal the Supreme Court,
S5innd Tie Corporation Commission might
IA re reversed. but IL the commission found
8$that the road were a public utlli " those
e parties who aye Interested In having some
other route adopted than that asked for
would have the right to make their side
Es heard Sin the higher courts. which OBJ
q viouslv destroys all mutually In the right
aIs.ol appeal
81 S5ss 2ss.55t4 Be VERBAL 8INFELICITIES.
Isl again It is pointed out that there are
N some verbal infelicties, as for example,
Mn section 9, chapter /, where It IS pro.
a3svided that capital stock may be In
81 creased when sanctioned by a vote Of
VI two-thirds ofthe amount Of all the stock.
who shall be present or repre-
IN scented and voting."GIt is suggested that
N this does not necessarily require more
s than three people to be present or repre-
s3 scented and voting.eEIt Is further asked
why should not All educational or char-l
4 table institution be allowed to hold real
Il estate, the yearly income OF which Is
more than s5D.OG0: Surely. for example.
m hero can be- no objection to allowing
4 charitable Observation-Disclosures It's holdings
Unreal estate Or to allow Backsburg or the
\ University of Virginia to keep its in
vestnients In real estate if$it SO desires.
4 There is little doubt that this important
piece Of legislation Wlll receive careful
n scrutiny In the Senate and will be made
s$ the subject Of much debate, as It IN.
wolves the future OF the corporate growth
y In this State. s.