Daily press. [volume] (Newport News, Va.) 1896-current, 1908-02-18
VIII Not Press The Bill to Com.
pei The Trains 10 Stop al
All Signals.
COMPANY WILL SUPPORT MEASURE:
BY the New Bills the Company is Per.
mitted to Surrender Old Charter and
Apply for New one-sinklng Fund
Commissioners to Accept New Stock
for Old.
Especial to The Daily progs.)

Especial To The Daily ProSs.)
RICHMOND, VA. Feb. l7.-Spcak-
or Byrd. who recently offered u bill
aiming TO subject tho Richmond. Fred
ericksburg and Potomac Railroad to
taxation. today gave ont the following
statement.
Since introducing the bill affect
ing the (3ichmond fredericksburg AMI
Potomac have given the matter fur
ther and careful consideration |
have examined all laws relating to
tho subject and have consulted freely
with the attorneys for the road and
others. The situation is this:
THE present law permits any rail-
road company to have ills charter
amended so as to ol.ain, as part
Of its charter any privilege. power or
authority not inconsistent with the
law, and such company thereby sur
renders every exemption from taxa
ton aud every non -repealable portion
OF its charter and all exclusive rights
or privileges heretofore granted TO II.
| (Scction 8. chapter 3, of the act con :
corning corporations. page 5i7. Pol
lard's Code.)
at Will be seen that such company.
by complying with the provisions of
| this law, Will not he relieved from
| any burdens, restrictions or duties i'm
posed by its old charter. such as the
duty of stopping anywhere a person
may display signal and taking up
aud setting down passengers any
where the passenger may desire. so
that even II the Richmond Fred
| nj -ch a ID 4
! should comply with the law above
referred to. it would simply be giving
up@its tax exemption and would, not
thereby escape these burdens. res
trictions and duties imposed by its
| antlquated charter. 1t would there
fore be manifestly unjust to the Rich
mond. Fredericksburg and Potomac
to pass the pending bill and enforce
Its provisions, without giving the pow
er TO get charter controlled in all
respects by general law.
Wanted New Charter
During the last session of the gen.
company, through Judge Leake, its
then president. prepared. and Senator
| Wlckham introduced three bills look
J ing TO the giving up of the old char
ter and getting Il new one.
! THE first bill authorized the compa-
| ny by two thirds vote of its stock
| holders, including the state. To apply
for new charter on the same basis
as other companies and to give up en-
tirely its old charter. with all its OK
captions, powers. rights, duties, re-
strictions and burdens.
THE second bill authorized the sink
ing fund commissioners to surrender
the stock of the old company and take
in lien thereof the same proportion OF
stock unlcr the new charter.
The third bill authorized the com
pany TO merge with the Washington
Southern.
The first two bills failed of their
passage, chiefly because of lack OF
time. they having been introduced late
in the session. None of them were
seriously objected to- except the third
some members thinking the states in
tercst might not be properly protect
ed
To Introduce Other Bills.
For reasons above given. | have de-
clucd tnat III would he unfair 10 tht
Richmond. fredericksburg and Poto-
mac Company 10 press the pending
bill at this session. Int have de-
tcrmincd TO introduce two bills some
what similar 10 the first and second
bills above referred to- and which
! will ask the general assembly tc
pass. believing that they will better
accomplish the purpose | had in intro
ducing the pending bill, and, besides
will be fair to the company.
81 have had a satisfactory interview
with the counsel for the company
and am glad to say they assured mt
that if these two bills became laws
they will lay the matter before The
stockholders and will advise them tC
take out charter under the new law
and give mp their tax exemption. an,
they believe the stockholders will fol.
low this advice. though the couns Sc
have no authority TO promise this.
AS above stated, | believe the pas
sage OF these bills will accomplish tn,
purpose. and hope they will nee
with no opposition in the general as