New-York tribune., 1912-02-06
BROAD POWERS FOR
NEW CORPORATIONS
LegisIatureASked to Give Sweep
ing Privileges to QuaSi-Pub-
lie Service Companies.
PLAN FOR WATER STORAGE
Bills Would Change Transporta.
tion Corporation Act and
Conservation Law-to
Amend Constitution.
I By telegraph to The tribune.

Albany, Feb 5.-Bills and proposed con-
stitutional amendments were introduced to-
night BY Senator Ferris and Assemblyman
Patrie TO carry out the recommendations
OF the legislative committee which investi-
gated water storage problems. There are
two bills, one bfing an amendment to the
conservation Law committing to the con-
servation commission tremendously broad
powers relative to the building Of water
storage reservoirs and the generating.
transmission and sale of water Or electric
power.
The second bill amends the general trans
portation corporation act 20 permit the
formation OF corporations designated in the
report Of the committee as "quasi-public
service corporations" These organizations,
under certain regulation by the conserva-
ton commission and the Public Service
Commission. are TO have sweeping powers
to construct storage reservoirs, deal in
water and electrical energy and acquire
other corporations i'm the same line of busl-
ness They are to have the right of eml-
nent domain, even to the power of going
through burying grounds and on the state
highways and other state. property OUTSIDE
the forest preserve.
The committee declares these corporations
TO he mere agents of the state, to act
without profit. and clause is inserted N
the bill tnat they shall act without profit
They arc supposed to raise money, ouiid
the storage reservoirs and collect, under
contract from the benefciaries of the IN
creased water fow-that is, the people now
having riparian rights along the improved
streams-money enough annually TO main
tain the works and amorti5e the cost
at the end of fifty years, including an an
nual revenue TO the state of not less than
Sc for each million cubic feet capacity OF
the storage reservoir. When the reservoirs
are paid for the entire title to the i'm
provement. including title TO the impounded
waters. shall pass to the state.
But in connection with the profit propo-
sition, the bill contains provisions that
so far as the net income of the corporation
will permit provision shall be made to
repay to the stockholders what they pay
for their stock and interest on their money,
Also. after provision for payment of all
outstanding charges, the amortization
payment and reserve fund, II there De
any surplus ii shall he 'ratably rebated'
and paid TO the parties who shall have paid
for the benefits.
OF the constitutional amendments there
were two The Trst would permit the state
TO flood state lands within the forest pre-
serve for conservation and utilization of
water The second one empowers the
Legislature 10 make general laws govern
ing the condemnation of private property
for water storage purposes.
These measures were referred to the
judiciary committees and there will be a
hearing on them on February a.
resolution was introduced extending
the life of the special legislative commit
'tec to ascertain the rights of the state in
the power of boundary streams, 10 take up
this matter with the federal government
aud to advise with Congress on legislation
necessary. To do this the committee is TO
exist until February of next year. This
resolution was passed without debate in
the Senate. 1t went to a committee in the
Assembly.