The daily morning journal and courier., 1907-06-07
UTILITIES BILL
 A LAW AT LAST Governor Hughes Signs Bit terly Contested
 Measure. AGAINST CORPORATIONS Nearly Every Public Service Company Under State
 Control.
AGAINST CORPORATIONS

Albany, June 6.-The public service commissions bill, better known as the public utilities bill, was made law to- day when Governor Hughes signed it. IL Is one of the most far-reaching re- form measures ever passed by an American legislature.
 It places under direct control every public service corporation, great or the exception of the telephone and the telegraph.
 It applies not only to the railroads, street railway and subway lines, ex- press companies and gas and electric lighting companies doing business ex- clusively in the state, but to the busi- ness within this state of all railroads or other common carriers which enter the state at any point.
 The two commissions created by the act will have sweeping powers in regu- lating corporations affected. The bill, which was urged by Governor Hughes, reached its final passage in the face of the most bitter and determined opposi- ton
 It was fought from first to last by representatives of many of the strong and wealthy corporations which will feel the weight of the regulations 1t im- poses. For days in both branches of the legislature 1t was bitterly denounc- ed.
 xxHI, A., 4soa1,xr ;+ vr,as eoroad thrnuoh the assembly and the senate, it was sent back for reconsideration with the veto of Mayor Mcclellan of New York city. Then came further debate over the mayors veto, and the governors bill was finally placed in his hands.
 Under the new law four of the most important state commissions will pass out of existence. In their place will be two boards of five members each, all of whom are to be appointed by the gover- nor. and these boards will have com plete control of the regulations govern ing facilities of the state.
 One of the commissions will have jur- isdiction in the four counties compos- ing Greater New York, and the other will have under its direction all the other counties of the state. These two bodies will have complete and free haEded control and will be held to en- Sforce the regulations provided for in the measure.
 It will be for them to compel all cor- porations to give safe and adequate service at just and reasonable rates; to prevent all rebates and discrimina- ttons in rates between different classes of shippers or passengers or kinds of of traffic; to compel all common car- riers to have sufficient cars and motive power to meet all requirements for transportation of passengers and prop erty which may be reasonably antici- pated, and to see that every common carrier be held specifically liable for loss or damage due to delay in transit occasioned by negligence.
 The bill prohibits the giving of free passes except in a few limited in- stances. It provides that no franchise shall be capitalized in excess of the amount actually paid to the state as consideration for the grant of the fran chise. and that the capital stock of a corporation formed by the merger or consolidation of two or more corpora tions shall not exceed the sum of the capital stock of the corporations so con- solidated at their par value or such sums any any additional sums actually paid in cash.
 Nor shall any contract for consoli- dation or lease be capitalized in the stock of any corporation whatever, nor shall any corporation hereafter issue any bonds against or as lien upon any contract for consolidation or merger"
 It is provided, also, that no corpora ton shall purchase or hold stock in another such corporation or common carrier unless authorized by the com mission.