Milford chronicle., 1931-02-06
GOVERNOR BUCK
HIGHLY PRAISES
WOLCOTT'S WORK
[Corllnued from Firs! ?aqel

times the amount of taxes lney pay
now, in order to meet the deficit.
The Governors remarks came at
the uncheOn-meeting of the Press
Association.
PrefacinG his remarks, the Cover
nor told the newspaper editors that
( in his opinion he always felt free to
discuss with them at any time any
of his problems and was always will
ling to share any news he had with
them. lie spoke of the splendid
treatment accorded him in the pub
lication of his recent message to the
General Assembly and referred to
the Importance of establishing Il
State Supreme Court. He continued
in part as follows:
"If | may talk shop without bOr-
ing anyone too much, | would like
to mention the subject i'll my mes
sage / thought the most important,
from the standpoint of the States
welfare. and tell you why.
1T was the paragraph that had to
do with the creation of Il Supreme
Court, the membership of which
would be separate and apart from
the Superior Court, and the idea,
that attached to the Judgeships of
such Il tribunal would be salaries
capable of attracting the ahlest le-
gal talent in the State.
"The importance of the recon-
mendation as it appeals to me lies,
i'm the fact that the State last year,
through its charter business, receiv-
ed an income of approximately 3d.
100000 i'm franchise and corporation
taxes. Anyone with the idea that
this money comes to Delaware Sim
ply because the State has been in
cooperating companies for num-
her of years, and that it will con-
tinue to secure this business regard
less, is decidedly mistaken. In re-
cent years big companies have
come to incorporate in Delaware
largely because of the superbly able
decisions that have been handed |
down by our Chancellor in court ar
guments involving millions of dol
lars.
"Take the case of Henderson VS.. |
Plymouth Oil Company in Dover /
three years ago, where forty mil
lions was involved. Such companies,
and there are others of the kind
chartered here, couldn't afford to
incorporate and risk a suit in any
State except where they are certain
to have their cases, should they have
to go to Court, decided by the ablest
lawyers. Moreover, Delaware's posi-
tion as regards its charter business
rests on this-One slip in big
case and all the confidence and
splendid record the State now en-
joys is gone, and with it, soon after
wards all. the lucrative income the
now has from the
Sad will be the day, if it
ever comes, for all of us will have
to go deep down in our pockets to
replace this income that we now re-
ceive from outside sources. TO say
it would increase four or five times
The individual taxes we now pay, is
not eXaggerating. 1t is questionable
if we could get off that easily.
"You may infer | am intimating
hat Chancellor Wolcott is largely
for our successful char
.er business and its consequent rev.
,nue | not only mean to infer il,
want to emphasize it, and how he
:an be expected to continue to make
he sacrifice he is under now is un-
eXplainable Let me briefly sum-
nariZe the situation where we have
III individual in public life, largely
for inviting State income
If more than five million dollars an
lually, whose compensation even |
InOw is less than One-third of what
le has been offered in at least one
Instance for private practice, and
Isk you why the lack of foresight on
he part of all of us who help to
make the laws. Chancellor Wolcott
would be the first to tell you that a
lumber of his contemporaries in the
State would make as good a judge
IS he is. If you were to agree, do
on know any his equal who could {
e gotten to serve for the salary he 5
5 paid? |
"The Chancellor knows nothing !
of my intent to discuss !
is position this afternoon, and he
nay rightfully be annoyed at my Z
aVing done so. Moreover, il would L
ot surprise me to be criticized for
violation of political ethics in
the work of one out
ide my party. | apologize only to
ne Chancellor for the liberty | S
ave taken, and I would not have n
one it but do feel that our peO- Il
lie ought to recognize the yuln4r- c
bic position in which the State ac- O
lally is, as regards the greatest
Durce of revenue, before it is too a
tie. | want to put myself on record a
5 not pleading a case for Chancel- c
II Wolcott He needs no one to DO
lat. W
INSTEAD, have undertaken, IL
as it may perhaps APP g
ear, to point out how tremendously a
npOrtant it is for the State to have k
lie best legal minds it can get to a
rotect and fOrtiiy the charter bus Il
less it is doing, and Supreme p
Durt, whose Judges sat only for it, l.
ould tend to heighten the conf D.
ence in which this State is now HI
I'D for incorporation purposes" Il
G. Marshall Townsend, president, CT
resided at the business meeting W
nd also at the luncheon. ci
Just before the close of this So m
al affair, United States Senator II