The Penn's Grove record., 1904-03-18
JERSEY LEGISLATURE

Mill Grinding. More Rapidly as
Session Nears Close.
THE CANAL COMMITTEE REPORTS
Urges Abandonment of Old Water
way and Abrogation of Comnany's
Charter-Tuberculosis Commission
Wants Money-So Does StatS MILF
<ary Board.
Especial Correspondence
Trenton, March 17.-Now that the
end Of the legislative session is draw
ing near, the lawmakers mill is grind
Ing more rapidly and the usual ante
sine die adjournment rush is on. While
here the legislators have now scarcely
time to eat their meals, taken up as
their time is with committee hearings,
conferences and requests from delega-
lions and individuals who come to
Trenton in the interest of particular
measures. Sine die adjournment has
been tentatively fixed by the house
for next week, but it is almost impos-
sible to finish up by that time, and it
Is likely that the session will extend
well into April. One assembEmsn last
week said he believed that the legisla-
ture would not reach final adjourn
ment until the middle of April. The
new factory law, the anti-signboard
measure and the state military bill are
matters that are likely to excite debate
and retard the early passage of these
measures. Four day sessions are like
ly to continue from now until the end
Of the term. There are still a num-
Der Of important appointments to
come In.
Morris and Essex Canal Report.
The commission, consisting of former
Governors Voorhees,, Werts and Griggs,
appointed last year by Governor Muir
ply pursuant to a resolution Of the
legislature calling for an inquiry into
and a report on the ACCESSIBILITY Of
abandoning the Morris and Essex
canal, early this week submitted it's re
port to the governor, who in turn sent
it to the legislature. The report says
In part:
We report that legislation should be en-
acted permitting abandonment of naviga-
ton on the Morris canal. That necessa-
rily involves repeal of the canal charter.
The only method, in our judgment, by
which such abandonment can be accom-
rA-A-a - H. A.. A. -
the state and all interested parties be pro.
tected Is by the exercise of the power Of
eminent domain. Such legislation, how.
ever, should effectually safeguard the
rights and interests of all parties. Pro-
vision should be made that the dams al
Hopatcong and Greenwood lakes be per.
petually maintained and that the waters
of those lakes be not drawn off to such an
extent as to entail injurious effects upon
persons or property. The rights Of munic
Qualities In streets and of all parties,
whether public or private, to bridges,
crossings. etc., hould be conserved.
In effecting such abandonment or repeal
by statute regard must be had to con.
stitutional limitations and restrictions
The charter of the canal company is a
contract between 1t and the state, which
10 held to be property. The charter con.
tains no provision, az is generally the
case in modern legislation, making il
subject to amendment, alteration or re.
peal at the pleasure of the legislature
This property of the company consists OF
Its franchises n tangible assets and
cannot be taken without the consent OF
every s~tockhQlder or upon just compensa.
sation~ made.
The problem presented to the commits.
sion has been how to devise a plan where.
by the state can without mourning any
state debt, insure just compensation to
all parties interested and entitled thereto
The solution of the problem involves diff.
culties not insuperable, however, in oul
opinion. If the property is actually worth
more In the market than the total amount
Of the bonds and stock outstanding.
Manifestly 1t would be impossible ia
obtain the consent of all the stockholders
Of the company to any scheme OF
abandonment. A valuation of their shares
would therefore be necessary to an aban.
donment. The case Of the Lehigh Valley
Railroad company Is different. That com.
pany is a single corporate owner. II
should be required, If it desires action, by
the state authorizing abandonment of the
canal to surrender it's rights on terms
that the stock and bonds Of the canal
company be provided for and on condition
that those parts of the canal property
needed by the railroad company for its
purpose be purchased at a fair price, the
proceeds to be applied toward satisfying
the bonds and the value of shares OF
stock.
Commission of Liquidators.
The bill which the commissioners
recommend is entitled IAN act to re-
peal the charter of the Morris and Els.
sex canal and Banking company and
to dispose of the property of said com
pany." 1t provides for the appoint
ment of three commissioners, to be
confirmed by the senate, to represen
b state and property owners along
the line Of the canal in winding UP
the company's affairs. If from the
sale of the property of the company
the proceeds are not sufficient to pay
OF the debt and stock, the Lehigh Val
ley Railroad company must pay the
deficiency. If the Lehigh company
does not accept the act it cannot aban
don the canal.
Senator Bachelor Of Essex has pre-
scented an important measure to the
senate, 1t being ar act concerning the
abolition of grade crossings and pro-
viding for contribution of public fund
" tAS SOSt VI clCfdlluS LuG Tracks. by |
this act any municipality may compel
railroad companies to do away with
certain grade crossings, but the cities
or towns concerned must contribute
toward the necessary expenditure.
Assemblyman Taylor's bill providing
Tor the licensing without cost of hon.
orably discharged soldiers, sailors and
marines to peddle has passed the
house. Mr.. Taylor withdrew his bill
requiring life and fire insurance COM
panies incorporated in this state to pay
an annual tax of / per cent on their
surplus and thirty-fve one-hundredths
Of l per cent On total gross premiums.
Both senate and house have passed
q bill making it permissible to reduce
the number Of school trustees to three
members. A bill presented by Senator
Mckee prolongs the term Of the clerk
on the board of freeholders of Passaa
county from n to three years. Sena
tor Mckee bv request this week intro