New-York tribune., 1907-04-30
UTILITIES BILL READY
RUSHED TO THE PRINTER.
Governor Gets amended Copy and
May Make Changes.


work on it will be done tomorrow and the next
day. chiefly in finishing minor details on which
the committee has not yet had time to work
Assemblyman Merritt said that he would pre-
sent the completed bill surely this week. Law
yerS who examined the rough drafts tO-night
said that this bill was a weaker measure than
the one first presented. Several changes have
been made in important sections. which some
critics say would tend to make the measure
| considerably more acceptable to the corpora
tions it was meant To curb than the original
bill
Governor Hughes had the draft Of the amend
ed bill tonight. and will go over it carefully.
suggesting changes which will be made before
the measure is reported from the Railroads
Committee and sent on its career in the As
semby.
One Of the changes refers to the enforcement OF
the commissions rulings. The original bill pro-
vided that order of the commission should
take effect whenever specified and ''continue IN
force for a period therein designated unless
earlier modified or abrogated by the commission
or unless declared by court OF competent. 1u-
risdiction TO be unauthorized Under that. PEN
altes would have begun whenever the order
took effect and would have continued until the
order was declared unauthorized by the COM
mission or the court. In the redraft, the words
declared by a court Of competent Jurisdiction
struck out and "such order inserted to
make the sentence read shall continue in force
unless such order be unauthorized thus allow
ing, it is pointed out any corporation which did
, not like an order to rush into the courts about
it, and. if it were declared unauthorized. eventu-
ally to escape payment Of penalties for the
time the order was disObeyed-
Another change is in the sections relating to
the capital stock Of railroads. As that section
is amended. some lawyers here think a gOodly
quantity of water could still be injected into the
capital account Of railway 1t permits the
issuing OF notes to run for less than twelve
months for the acquisition construction. COM
pletiOn extension Improvement OF it's prop
erty or facilities for the Improvements or
maintenance OF its service or for the discharge
or refunding Of its lawful obligations.
PERMITS SHORT TERM NOTES
This amendment. the critics say. was made in
Difference to the pleas Of lawyers for the rail-
roads that it would be impossible for some to
carry on projected Improvements or get money
for needed extensions unless the original bill
was modified somewhat. lawyer pointed out
tonight that as the section now stood there
was nothing to prevent the issue Of short term
notes. which then could be taken up By stock
or bond issues.
The section as to holding companies has been
changed somewhat in a fashion which does not
i
bill closely. 1t still provides that no railroad
hereafter shall acquire any OF the stock Of any
other railroad unless authorized by the commits
sion; and other corporation save where
stock shall be transferred or held for the pur-
pose of collateral security only with the consent
Of the commission empowered by this act to
give such consent" shall hold more than 10 per
cent Of the total stock Of a railway company.
These lawyers think that a nerger could be
nd she'll
fer OF stock as collateral security to some
other company to act as a holding company
Power Of removal OF commissioners isseft with
the Governor. who must file charges against
them and give a public hearing. Salaries oS
commissioners are increased to $4,000 Those
Of the commissioners, secretary and counsel from
the first district are to be paid by the state in
stead Of New York City. and fees are to go to
the city instead OF the state. The commission
is to have jurisdiction over conduits and ducts
a provision not in the original BILL which viii
give TO the commission control over the electric
conduits in New York City. Many technical
changes Of considerable Importance are made in
those sections relating to rates and service to
be furnished by common carriers.
No change was made in the section as 70 is
suance OF new franchises to gas and electric
light companies which provided originally that
the commission might refuse to grant fran
ChiSe 20 a new company If IN its opinion the
territory already was served by company with
complete plant. furnishing service at fair
rate Travis H Whitney, OF the Citizens Union.
said tonight that he believed this section would
grant monopoly to the lighting trust in New
York City. and considered that it needed oI-
planation.
CONFERENCE HAS LITTLE RESULT.
The conference" between the Assembly Rail-
roads Committee and representatives OF corpora
tions to-day resulted in little. owing TO delay
in printing the amended bill Corporation rep
resentatfves needed this as a basis for asking
further delay. but Assem5lyman Merritt refused
To grant another hearing Before the confer
ence, Senators Aids. Smith and Grady suggested
"as every one is at sea in regard 10 what the
Assembly had seen ht to do with the bill" that
the corporation representatives explain how
railroads and gas companies would operate
under the bill
Senator Page protested against this. ''The
corporations have had ample opportunities OF
explaining how this bill would affect them In
carrying on their business" he said. They
have not chosen TO do this. but have. instead.
sent skilled lawyers up here to argue against Il
or for such amendments as they wanted. Thew
have not chosen To avail themselves Of the on
pOrtunities freely offered and IL is too late now
for them 10 do So"
H. J. Pierce chairman OF a COMMITTEES ap-
pointed by the Buffalo Chamber OF COmmerca
TO examine the bill. read the report Of the CON-
mittee. which. he said, had not as vet been
adopted by The Chamber Of Commerce Nu-
merOUs changes were recommended In the re-
port many of which had already been carried
, out by the Assembly Committee. The most I'm
pOrtant one was to make the term OF the COM
missiOners longer. and have the power Of re-
mOval vested in the Senate. with the concur
Of he C.nV