Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-03-28

Now tHefe is another lnln2 winch the
gentleman from Augusta has stated
and 1t is not the first time | have heart
1t. | have heard il in the lobby; nav,
heard it in the committee room: AM
that is the story that this man Shaw
had a company organized, and has
authorized 100000 in bonds | under
stand the history of that bond issue is
this. That as a matter of fact there
are only about $40. 900 of those bonds is
! sued any way. The 100000 were au-
thonzed; but that does not mean that
they have been issued There was n
provision that when the first $500, 0O0
| Of that authorization was issued there
| should be invested IS per cent of that
| sum; and | will read to you a condition
| in the trust mortgage, because the
/ whole thing now is tied up safely. AMI
! that is With relation to the second
| 5000. OOe. THE remaining two hundred
| bonds. numbered from 416 to 675 both
! inclusive, of the denomination of $1,000
| each. are TO lie deposited with the said
| trustee and are not TO be executed and
delivered to the company only when
| the directors of said company shall Ger
! ;ifv in writing that extensions add
lions and improvements have pcen
made to The plant OF the company, or
that additional plants are being pur-
chased or erected, the actual expense
or cost of which shall have been at least
ocual TO the par value of the nonds
called for
Now there is not very much danger,
with such provisions as that, in author
,zinc bond issues. OF the first s2oo,eoo
there must be expended S. per cent;
and with the provision l have read for
the issuance of the other $2oo,ooo.
Now these people down there it seems
are wanting something. No one can
DENY that When they come here WITH
n petition bearing the names OF lloo
neople there asking fer certain rights
ii seems to me that they are entitled
To something. They must either be bad
ly fooled, or else they know that they
are not getting something. They want
n thing. and this legislature has the
right to grant to them what they ask
for and if it should be done, this pub
lie utilities commission can regulate
the rates between these two companies
If they have no power they can DO no
harm. and if they have power, ana
are extended into that city, the paoiie
utilities can see that no harm is done
to the existing company.
The Knox County Power Company.
as understand it. is vested i'll board
of trustees for the municipalities. ana
that everything has been oone TO pro-
tect the rights of the people Perhaps
I have taken to much of your time al
ready AS | said before, | have no per-
sonal interest in this; but it seems to
me that those people down there are
entitled to certain rights. They have
come TO this Legislature and asked for
them, and we have the power to give
them their rights, and think We Ought
to do it. As the gentleman from Vas
salboro said this forenoon, / myself
have been looking into the vast flu
ture, and wondering something about
what future legislatures might do; /
was wondering whether they would De
denying to the women OF our land the
same opportunities they had granted
rum sellers or if the gentleman from
Augusta would be trying to discover
what the term post officers meant
or whether some great monopollsuc
CORPORATION would be spreading It's
tentacles all over the Stare and getting
options upon power after power ana
holding the people out from the rights
hich they demanded and had right
To expect. tApplause3
Mr. THOMBS of Lineolp; Mr. Speak
er and gentlemen of the House, as a
member of the legal affairs committee
/. feel that perhaps it might not be
amiss at this time to say--a word with
respect to the committees. latitude and
the report in this matter that they have
rendered to this body. ] hardly think
I ii is necessary. after the very eloquent
and able address of the gentleman from
Augusta who, | think, has set forth the
facts in the matter very fairly as they
We're presented to your committee, and
| shall not attempt to reiterate what he
has so ably said. 1t may not have oc-
CURED to some members of the House
that this is a purely legal matter. in
volving. as it does question which
has occurred in this legislature a great
| many times, and going to the very root
of an established custom. BY that l
mean, as has been pointed out by gen
| tlemen who have preceded me. that 1t
granting charters TO stand behind them
| to the extent of not allowing COMPETE
ton, or not allowing an infringement
of the vested rights which have been
made under these charters. ! think that
is the policy or the State, and has all
ways been: and if | am correct, and
] think am this Legislature has never
| in its history more than three times
granted a competing charter to an cleo
| trio light company which came before
| it asking for such; and even in those
cases there were conditions attached so
| that they could not, in fact become APP
| plicable
In considering this question today
think that the gentlemen of the House
| should take this precedent, and this es-
| tablished custom or rule of this legis-
| lature into consideration. The commit
tee took it into consideration, and felt
| that it was incumbent upon the Knox
4 County Power Company when they came
before us to show us some good reason
why a competing company should be
4 allowed to go into the cities of Rock
land and Thomaston. We felt that that
| was the burden which they had under