Letters and Literary Memorials of Samuel J. Tilden, v. 1Tilden, Samuel J. (Samuel Jones)
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Letters and Literary Memorials of Samuel J. Tilden, v. 1
Tilden, Samuel J. (Samuel Jones)
Tilden, Samuel J. (Samuel Jones), 1814-1886
"That construction accords with the true meaning of the words
'corporate powers,' which is powers essential or incident to the
nature of the artificial being created by law--such as the power to
take a common name, to have corporate succession, to contract and be
contracted with, and to sue and be sued as one person, etc. These are
properly corporate powers. It is true the words are sometimes used to
include all the powers which the particular corporation possesses; but
that is a loose and inaccurate use.
"I think that the correct interpretation of the publication is that
it simply forbids the creation of a corporation by a special act of
incorporation--nothing more. It does not forbid an act operating to
enlarge, modify, or restrict the rights of an existing corporation,
any more than it does a similar act in respect to a natural person in
a like case. Still less does it forbid such legislation in respect to
a foreign corporation. It is enough for the present case to say that
the clause does not prohibit a legislative recognition or an express
sanction of an existing comity of the State in favor of an existing
corporation of another State.
"1. I am, therefore, of opinion that a special act declaring the assent
of the State of Ohio to the exercise within that State of all the
powers necessary for a beneficial use of the Pittsburg, F. W. & Chicago
Railroad by a corporation of Pennsylvania or Illinois, which should
have become the owner of the part of such railroad situate within the
State of Ohio, would be valid and effectual.
"A general law would, of course, be somewhat preferable, as it would
avoid this question. If it is certainly attainable, I would seek our
legislation in that form.
"But I foresee the possibility that it might excite more jealousy than
a special act, because its full application and use cannot be certainly
anticipated. I foresee, also, the possibility that it may affect
special cases of existing interest, prejudice, or passion, of which I
am ignorant.
"In the first section of a draft of a general law which I have hastily
made at a suggestion, I have tried to avoid the first of these two
objections by limiting the cases to which the law applies.
"1. An existing railroad.
"2. Partly situate in Ohio and partly in some adjacent State.
"3. Sold under an existing lien.
"4. Acquired by a corporation of another State in which another part of
the same railroad is situate.
"5. Such corporation acquiring the part of the railroad situate in that
other State.
"6. Of course, such corporation having the capacity to take and operate
the part situate in Ohio.
"Perhaps I may have put in more limitations than are necessary.
"Whether the measure will run foul of any other interest can be better
judged of by men conversant with the state of affairs in Ohio and in
its legislation.
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