Gilpin observer., 1905-05-04
BILL KILLED Bf VETO
TIE RAILROAD MEASURE FAILS
Governor Mcponair Netnes finuse Bill
17s-Reiieves Colorado z Snuth-
ern Measure Would Tend to Estac
itsh Mpnoppiy.


lish Monopoly.
Denver, April 29.-Sovernur Jesse
r. Mcdonald yesterday vetoed HOUSE
Bill ITS, generally known as the Cole
rado d Southern railroad extension
measure.
In his message to the secretary snf
state announcing his veto of the bill
the governor says:
II herewith transmit TO the honor
able secretary OF state House Bill No.
17S, without my approval, for the to-
lowing reasons:
II have had this act under careful
consideration Tor some time, entieavul-
ing solely TO decide what WAS for the
best interests of the people of the
whole state of Colorado.
THE title TO this act Is AN act Ar
thuriZipg Railroad Companies to Ae-
uuire and Hold or Guarantee the Cap
ital Stock or Obligations of Other Rail
road or Transportation Companies, and
to Purchase or Lease and Operate
Other Lines of Road, and Providing
Modes of Payment. Or of securing
Payment, anu TO Authorize Railroad
Companies to Sell or Lease Their
Property
lit -LlLtt Is dDDIObTldlt. anu alkit
hill, by its terms, undertakes 10 legi5-
late SO that any railroad company may
acquire and hold the capital stock OF
any other railroad OF transportation
company, or may purchase or lease
and operate other lines Of road.
Section OF the bill declares that
the Act shall not ne construed To per
init any railroad company 10 purchase
or lease any parallel and competing
line situated within this state hui
does not in any way attempt To limit
the construction of the act 10 prevent
parallel and competing, or a parallel
or competing line from acquiring and
holding all the stock and obligations
of q parallel and competing line OF
lines of railroad.
Holding the stock and bonds of one
railroad by another, means that the
holding company controls the road
whose stock II holds. although the le
gal title remains III another company
IF railroad may hold the stock oi
another railroad or transportation
company, It may hold the stock o1
many, or of all railroad and transpoT
I tation companies IL the state. BY one
railroad holding the stock of Other
railroad and transportation companies
without any limitations whatever, con,
/ petition can be stffied and monopoly
created which will be a great menace
TO the people of the state.
THE railroad companies in the STATE
4 have been built up and have grown Il
their present efficient and prosperous
condition il q sparsely populated dis
/ trict under the present laws. This bil
seems % take away all limitations 81
4 far as legislation Is concerned upoI
/ the power TO create monopoly ol
J trust in the railroad and transportation
/ companies of the state. No advantage
adequate TO the risk of leyaliZing suct
a monopoly seems to be offered TO tins
people by this bill, and under the cir
cunlstances ] believe that TO grant u
railroad and transportation companies
4 greater facilities to create a monopoly
at this time. would he unwise and vi
cious legislation and would be taking
a step IL the wrong direction. as ths
demands of the people and business IN
terests of the state do not seem TO re
quire such departure.
u therefore file said bill in the otflcs
of the secretary of state OF Colorado
without executive approval.
JESSE f. MCDONALD,
Governor.
dated at Denver, Colt, April rs
/ 1906, al 4 ,. n"