The Government and the Railroad Corporations

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James R. Osgood, 1871 - 33 halaman
 

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Halaman 26 - The general assembly shall pass laws to correct abuses and prevent unjust discrimination and extortion in the rates of freight and passenger tariffs on the different railroads in this state, and enforce such laws by adequate penalties, to the extent, if necessary for that purpose, of forfeiture of their property and franchises.
Halaman 24 - Railways heretofore constructed, or that may hereafter be constructed in this State, are hereby declared public highways, and shall be free to all persons for the transportation of their persons and property thereon, under such regulations as may be prescribed by law. And the general assembly shall, from time to time, pas* laws establishing reasonable maximum rates of charges for .the transportation of passengers and freight on the different railroads in this State.
Halaman 24 - No railroad corporation shall issue any stock or bonds, except for money, labor, or property actually received and applied to the purposes for which such corporation was created; and all stock dividends, and other fictitious increase of capital stock or indebtedness of any such corporation, shall be void. The capital stock of no railroad corporation shall be increased for any purpose, except upon giving sixty days public notice, in such manner as may be provided by law.
Halaman 24 - No corporation shall be created by special laws, or its charter extended, changed or amended, except those for charitable, educational, penal or reformatory purposes, which are to be and remain under the patronage and control of the state, but the general assembly shall provide, by general laws, for the organization of all corporations hereafter to be created.
Halaman 24 - The General Assembly shall pass laws to correct abuses and prevent unjust discrimination and extortion in the rates of freight and passenger tarififs on the different roads in the State, and enforce such laws by adequate penalties, to the extent, if necessary for that purpose, of forfeiture of their property aud franchises.
Halaman 24 - No railroad corporation shall consolidate its stock, property or franchises with any other railroad corporation owning a parallel or competing line; and in no case shall any consolidation take place except upon public notice given, of at least sixty days, to all stockholders, in such manner as may be provided by law.
Halaman 15 - ... province, whether it be to fight a rival line, to develop an inchoate traffic, to manipulate the legislature, or to operate the road, — with this perfect machinery and subordination there is no reason why the corporation should not assume absolute control of all the railroads of Pennsylvania. Such is this great corporation, high in credit in the moneymarkets of the world, careful withal of its outward repute, apparently unbounded in its resources. Organized so long ago as 1831, it had thirty...
Halaman 9 - September representatives of the competing lines met in New York, and proceeded to put a stop to competition in the one way possible among monopolists, — by combination. The parties in interest were the Central, the Erie, and the Pennsylvania Railroads. The competition was mainly from Illinois to New York. In both Illinois and New York laws forbidding the consolidation of competing lines were in force, and all the roads were carrying on operations in one or both of those States. At the meeting...
Halaman 3 - ... of this Review to discuss certain matters incident to the growth of the wonderful railroad system of the country ; to call attention to some of the abuses arising out of its present form of management ; and, finally, to indicate, as definitely as might be, a few of the more obvious dangers with which this portentous development seemed to threaten our political institutions. The material and moral advantages of this development do not need to be dwelt upon ; they are apparent to all. Neither the...
Halaman 9 - ... conclusive illustration of this proposition, as well as of the utter insufficiency of State legislation to deal with the subject, may be found in the experience of the last year. The system of transportation of freight through the agency of what are known as the colored lines is now pretty generally understood. A large number of cars, colored red, white, or blue, according to the organization to which they belong, carry most of the through freight, in regard to which competition exists, from...

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