New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-20
Bills Governor Will Offer Jersey
Legislature Tonight Demand
Big Reforms.
HOT OPPOSITION EXPECTED
New Provisions Mean Annual
Loss to State Estimated at
$2,000,000-Tax Laws
To Be Modified.
tBy Telegraph TO The Tribune. !


| corporation bills. radically changing the
! corpora ton laws OF New Jersey 80 thai
! holding companies. mergers or, In fact
! any combination Of business will nc
longer be legal in this state. will he in
! troduced in the Legislature to-morro"
! night by Senator j Warren Davis. OF
Salem. the majority leader OF the Sen
! ate.
There arc seven OF these bills all told
and while Governor Wilson has not yet
made public their contents he has let il
! be known that they carry QUE his ideas
of reform in that direction. in that he
| believes that should they become law the
/ State Of New Jersey will speedily lose
its title as the mother OF trusts
Untl the bills are introduced, however
il would be idle to predict either theii
passage or defeat. for the corporations
which have been fostered by the present
corporation laws OF New Jersey have be-
come an important source of revenue
which the legislators VIII hesitate 10 dis
turb The revenue derived b. the state
from these corporations annually is APP
proXima tcly $4,000
II the bills introduced tomorrow night
disturb this income in any WY there IS
sure tu he consdera bic opposition "a
them as the amount thus derived would
have TO come from some other source
and there is none In sight jus; now save
! the taxpayer. who is already protesting
against his burdens
one OF the Governors corporation oils
has 10 do with the regulation OF securi-
! ties sold In New Jersey. The need OF Il
bin Of this kind has become apparent in
the last few years. and there Is some
curiosity as 90 how Nj Wilson and MS
legal advisers will treat IL. New Jersey
has been a sort OF easy money place
FOR the sellers OF securities IN wildcat
mining and other corporations almost
$1,000 having been plucked from rest
dents Of the city OF Trenton alone IN a
single year. So serious did this business
become that the Chamber Of Commerce
in that city had a bill prepared and in
PRODUCED in tho last Legislature by ~
s.mDlyman John -. sill. II was mod
elled after the blue sky Law Of kansas
Opposition 10 II came from so many
sources. however. that it was lost IN the
I shuttle OF bills.
The Governor corporation bills are By
far the most important measures expect.
cd M the Legislature tomorrow night. a..
though IL is probable that Senator Pierce
will have his grade crossing measure
ready. in addition 20 a number OF meas
urcs carrying out the recommendations OF
, the commission that has investigated tax.
/ alton in New Jersey.
, ~ course. tho usual So-cent gas bills
and similar measures will come along
/ but as thcs" have become "A sort OF an
! nual affairs. they do not stir up mucr
comment The legislature. according &
present plans. will meet again on Tues.
day. which ~ contrary 10 custom but
| the Democrats are anxious to get as
much legislation as possible through be-
fore NJ Wilson goes 10 WASHINGTON. and
seem willing TO work overtime 10 do H. y,
one expects. however, that the Legislator.
will adjourn by that time although there
are some o. the younger legislators who
are enthusiastically predicting this 10
happen.
The Senate will probably he tho scene
OF lively time tomorrow night II III,
plans Of tho Republican Senators 10 dc.
maud the expulsion of Senator Fltzherbert
do not mis,arry As has already beer
told in The Tribune. the members OF The
minority were Indignant AZ tho rsyor'
shown 10 the Senator from Morris In thu
form OF committee assignments. and SONS
were for immediate protest on the open
ing day.
Fitzherbert was found guilty by the
Senate last year In charges OF acting con
trary 20 tho duty and trust OF y Senator
In connection with an acetylene gas bill
but was not expelled because his Demo
cratic colleagues -efused 10 vote for ex-
rulsion. \ ,wo-thirds vote is necessary
TO expel. and this the Democrats refused
To make ~.