United States Courts
Published: 2013-09
Total Pages: 484
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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1902 edition. Excerpt: ...Union have availed themselves of that suggestion, and reserved such power either in general laws applicable to all charters, as the general assembly of Gregg v. Granby Mining & Smelting Co Missouri has in section 7 of chapter 34, Rev. St. 1845 and 1855, or incorporated it in subsequently granted special charters. Railroad Co. v. Renshaw, 18 Mo. 210. The supreme court of the United States as recently as October 18, 1900, in Looker v. Maynard, 21 Sup. Ct. 21, 45 L. Ed. 79, have reaffirmed the right in a case on "all fours" with this. In that case a statute permitting each stockholder of a corporation to cumulate his votes upon any one or more candidates for directors (Pub. Acts Mich. 1885, p. 116, No. 112) was held to be within the power reserved by the state constitution to its legislature to alter, amend, or repeal future acts of incorporation. and therefore does not impair the obligation of the contract made between the state and the corporation by its original organization; the court remarking at the close of the opinion: "Remembering that the Dartmouth College Case (which was the cause of the general introduction into the legislation of the several states of a provision reserving the power to alter, amend, or repeal acts of incorporation) concerned the right of a legislature to make achange in the number and mode of appointment of the trustees or managers of a corporation, we cannot assent to the theory that an express reservation of the general power does not secure to the legislature the right to exercise it in this respect."-Watson Seminary v. Pike Co. Court, 149 Mo. 67, 50 S. W. 880, 45 L. R. A. 675; Pennsylvania College Cases, 13 Wall. 213, 20 L. Ed. 550; Miller v. New York, 15 Wall. 478, 21 L. Ed. 08;...
