Year: 1868

THE CLOSE OF TIE LEGISLATURE-THE H0OSAC


TUNNEL-A RAILROAD MONOPOLY FRUs-


TRATED.


Our Special Correspondent


The session of the Legislature which is just
drawing close will be the longest ever known In this
state-tomorrow's session, which will be the last being
the lGOh In 1885, the second year of the KnowNohing
party the session 1853 days in length and In 1857
there was regular session of l days and extra one
for the purpose Of establishing Representative
Senatorial and Councillor Districts These have been
the only Legislatures that have approached In datOr
the present One most OF whose members having Dee
elected on the rum issue nave proved unht 10 deai
with the questions of financial ana commercal importance
which have been brought before them Even the Liquor
License b for whose enactment large majority OF the
Legislature especially elected required 10 be nkeed
member Of the p L. LspredctS that VIII not stand the
OF practical operation one year The lobbyists nave
oSen eseG gppropraton Of ooS in aid Of the
Hoosac Tunnel building Of the bridge from Boston to
and the cSnsodaton Of the Hartford ana YEN


listed the largest army Of the "Thrd House in their be-
half that seen in the state House In spite or
considerable opposition, the first two projects car
red by large aiortes and other good has been
conitans have been taken ont OF Massachusetts politics
for time The proposed consolidation Of
Massachusets soi-was agitated in the Massachusetts,
Legislature, and that Of Connecticut almost simua-
neousy IN order as .m supposed; Tho 'Taii Thii
might succeed in the other The Corporation OF the Hart
ford and New Haven Road. which Is the mover in the
project appeared before the Committee on Railroads
early in the Spring in support OF bill which had been in
roduced into the Senate on leave asking Tor leave from
the Legislature to unite the Hartford aud New-Haven
Railroad 90 any other road with which il connected
1t such innocent looking bill that on its ntroduc.
ton there was some opposition to referring II to any
committee, bat, accordance with custom, that was
finally done. When the Committee inquired what
would be the amount fixed for the capital stock
of the consolidated road, Mr.. Chamberlain, the
SDe q e could ad nd pfcy a
it would be mutually agreed upon by the two roads
Nothing more definite could De obtained ana while the
committee was still delberatng, the attention OF its
members called 10 the remarkable terms OF bill Tor
consolidation OF railroads which being urged by the
Hartford and NewHaven road in the Connecticut Legis
laure. They substantially follows: That the d
connection might sign articles of agreement for sale,
transfer, purchase, merger, and consolidation;
of the capital stock OF said consolidated
corporation should not exceed the market udiie OF the
capital STOCK Of the and Railroad


%S 4 o @ e a4Srd qGHt 40 and per sn @
road s3oOoOOo and sells at 100 per cent premium II
create capital stock amounting to the market value
old stock would have the effect Of watering the
not have been paid in cent and for which the public
would have to pay in increased taTlifs. Any Any
dated road would have TO be much larger than


formerly IN order TO pay dividends on the S54OO OF new
stock and the public instead Of being benefited,
urged in the Massachusetts, Legislature would be oppres
ed learning this the Committee Immediately reported


reference TO the next General Court IN regard 10 the
BILL and also reported bill repeating that portion OF an
act which had been passed In 1852 allowing the Hartford
and New Haven Railroad 10 make any Lawful cOntract,
and merge make joint stock with any other railroad
company within the limits Of tins Commonwealth. The
first part of this act which allowed the same railroad 70
increase its capital stock by $G50O0 they left on the
statute book. in order that the State might still retain
control over its movements. Although this law has been
in existence for 16 years the Hartford and NewIaven
Railroad had avaled themselves OF IT, for reasons
which seemed obvious when the proposed law IN the
Connecticut Legislature was made known The friends
of the railroad made fierce fight 20 prevent this repeal
ard went so far as to offer substitute limiting the
amount Of consolidated stock to the par value OF the
original corporations, but suspectng some SNARE the
Legislature finally passed IL by large maiores in both
branches Thus failed railroad mOnopoizng scheme
in Massachusetts. though backed IL whispered by
the great railway king of NewYOrk. What Will be its
fate in Connecticut remains 10 be seen.