Consolidation of Railroad Properties: Hearings Before the Committee on Interstate Commerce, United States Senate, Sixty-ninth Congress, Second Session, on S. 4892, a Bill to Promote the Unification of Carriers Engaged in Interstate Commerce, and for Other Purposes. January 12, 14, 19, 20, 25, 27, 28, February 7 and 8, 1927U.S. Government Printing Office, 1927 - 200 páginas |
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abandoned acquire control acquisition application approved authorized to acquire BENTON CAIN capital stock carrier corporation carry CHAIRMAN charter Colonel Thom committee competition in service condemnation condition Congress corporation Cummins bill declaration of policy dissenting stockholders effect Federal incorporation filed franchises FULBRIGHT gentlemen give Government hearing holders interstate commerce act Interstate Commerce Commission Kansas Kansas Pacific Railway lease legislation matter merce Commission merger method Milwaukee & St operation Pacific Railroad paragraph present law presiding proceedings provision public interest purchase question railroad consolidation Railway rates reason require respect section 208 Senator COUZENS Senator Cummins Senator FESS Senator GOFF Senator HAWES Senator SACKETT Senator WHEELER shippers short line short-line railroads situation standpoint statement suggested Supreme Court thing tion traffic transportation act Union Pacific Union Pacific Railroad United valuation voting securities weak lines weak road WILLIAMS
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Página 177 - We admit, as all must admit, that the powers of the government are limited, and that its limits are not to be transcended. But we think the sound construction of the Constitution must allow to the national legislature that discretion, with respect to the means by which the powers it confers are to be carried into execution, which will enable that body to perform the high duties assigned to it, in I the manner most beneficial to the people.
Página 178 - A corporation is an artificial being, invisible, intangible, and existing only in contemplation of law. Being the mere creature of law. it possesses only those properties which the charter of its creation confers upon it, either expressly, or as incidental to its very existence.
Página 183 - Bank of Augusta v. Earle, 13 Peters, 620, 10 L. Ed. 274, It was said: "It Is very true that a corporation can have no legal existence out of the boundaries of the sovereignty by which It Is created.
Página 4 - An Act to supplement existing laws against unlawful restraints and monopolies, and for other purposes...
Página 177 - It being the opinion of the Court, that the act incorporating the bank is constitutional; and that the power of establishing a branch in the State of Maryland might be properly exercised by the bank itself, we proceed to inquire — 2. Whether the State of Maryland may, without violating the constitution, tax that branch?
Página 177 - ... an abuse, because it is the usurpation of a power which the people of a single state cannot give." The court said, in that case, that " the states have no power. by taxation, or otherwise, to retard, impede, burden, or in any manner control the operation of the constitutional laws enacted by congress to carry into execution the powers vested in the general government.
Página 7 - Such certificate must be published once a week for four successive weeks, in a newspaper published in the county, if there be one, and if there be none in such county, then in a newspaper in an adjoining county.
Página 172 - In establishing any such through route the Commission shall not (except as provided in section 3, and except where one of the carriers is a water line), require any carrier by railroad, without Its consent, to embrace in such route substantially less than the entire length of its railroad...
Página 184 - Nor do we see any reason why one state may not make a corporation of another state, as there organized and conducted, a corporation of its own, quo ad hoc any property within its territorial jurisdiction.
Página 177 - ... (This great principle is, that the constitution and the laws made in pursuance thereof are supreme ; that they control the constitution and laws of the respective states, and cannot be controlled by them. From this, which may be almost termed an axiom, other propositions are deduced as corollaries, on the truth or error of which, and on their application to this case, the cause has been supposed to depend.