The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-03-07

l. "a IN - NM
mon conssiit Or the people ana ths
ofscials N The company.
Tho bill was engrossed ana passed
without any further arguments by d
vote Of IL to !.
IL Mir NOT becoms- effective -ssstil
November 1. lsi6.
Merger fslii Acxt.
FOLLOWERS tsse passase OF the S-o4s-
man Dtii, tne rlis..er oil ln,aouuyeu
W MvSSrx. kHse. rowers, BYRD ana
Loox WAS taken up. Inc ua.f pro-
sides ter q tilcisef oil tie four roaus
comprising the A., 4. ana Il. sys-
tenn and requiring them 10 take out
q new Shartef. Mf. Rage explained
the measure ana stated that IL nau
Deen drawn AFTER lengthy confer
ence on tne matter. At ~ fair
Dill, declared Mr.. Page, and ought
70 suit every fair-minued cIlixen of
Virginia. II meets with the approval
of the Governor of Virginia. the
Speaker and all the members Of the
House and Senate, which spent sew
erai days In considering the natter.
The bill provides thai the condi-
lions OF the new charter and the
merger be published in the newspa-
pers and then the stockholders will
be required TO vote on the subject.
1t Is chance of our lives to nut this
road on tax-paying basis with the
other roads and should be adopted"
Mr.. Page stated that there was no
question as TO tho constitutionality
OF the merger, as had been said. ana
II the members passed the bill they
would be doing the greatest thing
for the people that any Legislature
has DONE
supported by Speaker.
MI Byrd spoke In favor OF the bill,
and explained the old charter taken
out by the railroad company for a
stage coach line. He pointed out
that the road had relinquished all
the rights OF the charter except the
exemption from taxation which they
have hung onto like grim death. )
Mr.. Byrd satd that two years ago
ne had conference with President
White. Of the r., F. and p, and he
admitted that 1t was not right to re-
fuse to obey some provisions of the
charter and refuse TO give up other
conditions OF the charter.
The speaker said that the merger
bill would not permit the owners OF
the stock to give a false value on
the value OF the stock. as has been
asserted, because the merger char
ter showing the value of stock of
the four companies must be approved
BY the Governor. the Lieutenant
Governor. the members of the Cor
poration Commission and several
other State officials
the passage of the bill from a taxa
ton standpoint.
Only Logical Conclusion.
Mr.. Cox said that the only legi-
cal conclusion ne could see was to
pass this merger bill after the action
the House had taken in regard to
the Coleman bill, and the Cook
amendment to the Sunday train bills,
which provides that the road run
ming freight trains on Sunday should
surrender any exemption from taxa
ton which they might hold"
Mr.. Powers and Judge Martin Will
iiams concluded the argument In fla
vor of the bill. Judge Williams said
that he had heretofore opposed the
passage of any merger hiii,-hat after
listening to the argument in favor
OF this bill. he was ready to vote
There were no arguments present.
co IN opposition 10 the merger, and
the substitute was passed by a vote
of 10 to 2.
This Is one OF the most in1portan Mt
acts adopted by the House this ses-
sion. The substitute. which was Of
fered Saturday, IS practically the same
as the one proposed by the joint COM
mittee. The only change is a slight
amendment to the title.
Veto ~ Radfori Bill.
= The Governor returned TO the House
bin III. providing a new charter for
the town of Radford. The bill was
accompanied by the following expla-
nation from the Governor. stating his
reasons for rejecting the bill:
March Z, 1910.
To the House OF Delegates.
While approving the general pur-
pose OF House bill No. III, / cannot
sign it because 1t contains the follow
ing provision: Provided also that the
City Council shall have power by a
two-thirds vote to exempt from city
taxation any newly established manu-
featuring establishment for period
not exceeding FIVE years.
l regard this provision as clearly
Unconstitutional. and therefore uII.er
section 10 OF the Constitution respect
fully recommend that the bill be
amended by striking IL out.
Respectfully.
(Slgned) w. II. MANN.
Governor
The House and Senate revenue bills
proposed tn Colonel Bowman's resolu-
ton were then taken UP for considera-
ton.
Tax on Insurance.
Senate bill "a providing o tax On
Insurance companies was called up
and q rush of amendments was mace
to the speakers desk A number of
the members were OF the opinion that
the tax on small local companies was
too severe. Mr.. West proposed q reso-
luton cutting the tax rate on small
local are Insurance. companies from,
IA per cent. to la per cent. He
argued that local Are insurance COM
panies could not exist In Virginia
under the provisions OF this bill on
account OF the opposition Of the large
New York companies. He testified
that these compAnfes could tncor-
porate tn North Carolina for a tax OF
S.l1 Of per cent
Mr.. thinner wanted an amendment
adopted lowering the tax rate on life
insurance companies to ! per cent He
said the House had gone away mad,
ssIhe members Of the House." de-
cIared Mr. Zimmsr. can hardly wait
for their names TO be called to vote
IN favor Of raising taxes or any kind
Speaker Byrd made = strong argu-
ynent In favor OF taxing Insurance COM
pa1siea which he stated were now get
{ing too much money from the poor
people Of the Stats ana they can at