The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1908-05-15

and from It's conclusions thereon. the
inference may be rightfully drawn
that Massachusetts Is an arbiter with
sole authority in the premises. That
the charter OF the Boston & Maine Is
alike in three states-Massachuse
Maine and New Hampshire-and that
each of these may exercise a separate
and supreme control over the com
pany's affairs within, but not beyond
its own jurisdiction; that the selec
tion by the railroad of its domicile
in Massachusetts has been a matter
OF its own choice, and not one either
OF law or necessity. would almost
seem 10 have been overlooked or for
gotten.
Three States Represented.
"The outstanding capital OF the
Boston & Maine represents corporate
and vested interests in Massachu
setts, Maine and New Hampshire that
are impossible of partition or separa
ton as between the several states
The New Haven company has no cor
porate existence in either Maine or
New Hampshire. Let US suppose that
the commissions summary OF recon
mendations is enacted into law in Mas
sachusetts and is accepted by the New
Haven company; what controlling eff
feet could this have upon the states
OF Maine and New Hampshire and
how will the Boston & Maine be left
~ hA To- 81 Of hnf n
these states at their next, or any later,
session, shall see fit TO pass laws OF
equally effective charcter but not in
conformity Herewith?
Such conditions. from the New Ha
ven's standpoint, may not present
problems incapable of satisfactory sol
ution, but from that of the Boston &
Maine, the outlook is intricate and un
satisfactory and capable OF producing
uncomfortable if not disastrous com
pications of it's affairs. For these rea
sons alone, and if there were no 9th
ers your committee ought not, in my
opinion 10 recommend legislation hav
ing in It the possibility OF bringing
theBostOn a. Maine railroad into a po
sition where, by obedience to the laws
of one Of the states within which il Is
chartered, it may find itself in conflict
with those of another state which IT
is equally bound TO obey.
Il suggest legislation generally along
the following lines, but conditioned
upon its acceptance by the stockhold.
90 hn
a meeting called for the purpose. pro
yiding, in so far as the commonwealth
of Massachusetts has jurisdiction:
THAT the New Haven company
may lawfully hold, with all the rights
appertaining thereto. the l09,94S
shares of Boston & Maine stock that
it is now possessed of.
"2-That, except in the exercise of
its rights as a stockholder in subscrib
ing for and purchasing its pro rata
proportion of any new Boston &
Maine stock that may be hereafter
lawfully issued it shall not acquire in
any way. directly or indirectly. the
ownership of any additional shares
thereof without specific legislative au.
thority.
"3-That all of its holdings Of said
stock shall be recorded in its name
upon the books Of the company, and
neither the whole nor any portion
thereof shall at any time be trans
ferred or sold, or otherwise disposed
OF. without the consent Of the Massa-
chusetts railroad commissioners after
public hearing.
"4-That the corporate officers and
majority of the directors of the Bos-
ton & Maine railroad shall be actual
residents of the states by which 1t is
chartered, and the principal offices of
the company shall continue to be ID
Boston"