The Bridgeport evening farmer., 1909-02-04

D.-he of the magic wand. and his suc- | cessors? c. D. will organ za a c1r- poration-a simple thing to do under the laws of Connecticut when there is definite business to be done, and under those laws also it is provided how the affairs of the company shall be man. aged by the directors of a corporation, who must be elected by the stockhold- CTS.
 The directors of a corporation in law are trustees for the stockholders and to them. under the law, are delegated certain powers and duties by the stockholders. It is a well known prin- ciple of corporation law that powers once delegated cannot in turn again be delegated, but under the D an of the Bedding Preservation Company this is all to be changed and five trustees are to be appointed two by the directors of the corporation, two by the select
 men of the town and the president O
 the corporation shall eX-officio consti tute the fifth It is further provided
 that these trustees shall for the mos
 part, perform the duties that by law are placed with the board of
 directors of corporations organized Just what these trustees are to do and what the corporation is to do through it's board of directors in the
 way of making maps. taking pictures, marking historic spots. planting trees, etc. is so hopelessly jumbled and mix ed in the contract that the real rights of the two classes most interested, that is. the property owners and persons furnished the money, that is, the stockholders, if they should ever ma- terialize. which I doubt, could not be defined even by so clever an individual as the proverbial Philadelphia lawyer.
 One would naturally think, on read inp tho ho one had suddenly discovered all by himself a region of untold wealth and indescribable beauty. that he was afraid someone with the money to pay for it might purchase the whole or part of it at tits fair present value"; not having the money himself to buy any part of it, this dreamer of dreams contrived this scheme to prevent his neighbors from selling. if they should so desire. the whole or any part of their property at 'its far present value" until he can tie them up with options and contracts with some un- known c. D., who in time may further entangle them by assigning his con- tracts to a corporation, which in turn by the help of the selectmen of the town. will mix 1t up little more by appointing trustees who will put on the finishing touches until perchance some one will really be so anxious to sell that he will pay big commission to some one to make a sale that he could have made himself in his own door yard without the help of pro- moter.
 It is hard to believe that any sane person will furnish the money for any such scheme. It is still harder for any man to believe that enough money can be obtained from 25% of the commis- sions on sales made and 109o of the sum derived from the sale of pictures of the beautiful spots in Bedding in sufficient amount to build dams, lakes, etc. If water shall be as scarce in Bedding during the next two summers as it has been during the two last past, 1t will be more profitable for the owners of the springs and streams to organize water company and sell water to their less fortunate neighbors the streams for the purpose of fur nishing fishing for the residents of Bedding and their resident guests. By the way, just who would come into this great privilege under this latter head? resident is easy to define. so is a guest, but how can a person be a resident guest in any place?
 Bedding need not fear the factory, the trolley or the summer hotel. H 1T distance from the railroad station. h er lack of water and sewerage system will settle that. Neither need she fear cOnSoSrlOn. mere are too many dDdn- | Goned farms in the neighboring towns l for that. What she may well fear, l however. is that the healthy, normal growth of the last few years. brought l about by her summer residents, may | be checked and forever stopped. What ! some of the property owners may we'll l fear too is that the town assessors 1 may do their duty in taking twice the | fair present value of .their land as the !, amount at which it shall be assessed l for taxes.
 If the property owners in Bedding | will exercise the same good judgment l in the matter of signing these con- 1 tracts that they habitually do in the.r | own business affairs they>> will irn- | mediately realize that they cannot ! have their cake and eat it too and | there will be no danger of entangle- l ments or legal complications with un- known c. Ds. or their successors,
 TAXPAYER.