...CORPORATION." Section 5, art. 11, of the Constitution, which forbids a railroad corporation issuing any stocks or bonds except for money, labor, or property actually...the purposes for which such corporation was created, does not apply to street railway corporations not engaged in general railroad business. [Ed. Note.—...

...193. No corporation shall issue stock or bonds except for an equivalent in money paid or labor done, or property actually received and applied to the purposes for which such corporation was created, and neither labor nor property shall be received in payment of stock or bonds at a greater value than the...

...carriers shall never be limited. SEC. 5. [Stocks and bonds, issuance; capital, increase.] No railroad corporation shall issue any stock or bonds, except...all stock, dividends, and other fictitious increase [Art. 11, Ha] Corporations — Municipal 39 of the capital stock or indebtedness of any such corporation...

...shall be void." The constitution of the state of Illinois, contains a provision that, "No railroad corporation shall issue any stock or bonds except...labor or property actually received and applied to the purpose for which the corporation is created," and that "All stock dividends and all fictitious increase...

...railroads in this state. The liability of railroad corporations as common carriers shall never be limited. of the capital stock or indebtedness of any such corporation shall be void. The capital stock of railroad corporations shall not be increased for any purpose, except after public...

...rewrote this section. (Proposal No. 32.) In 1875 constitution it read as follows: "Sec. 5. No railroad corporation shall issue any stock or bonds, except...stock dividends, and other fictitious increase of the capítol stock or Indebtedness of any auch corporation shall be void. The capítol stock of railroad...

...earners shall never be limited. Sec. 5. [Stocks and bonds, issuance; capital, increase.] No railroad corporation shall issue any stock or bonds, except...purposes for which such corporation was created ; and all stocks, dividends, and other fictitious increase of the capital stock or indebtedness of any such corporation...

...said: 'The latter part of the clause of the Constitution In question, which declares that "all stocks, dividends, and other fictitious increase of the capital stock or indebtedness of such corporation shall be void," we think, clearly points out the chief object which the constitutional...

...that "No corporation shall issue stocks or bonds except for an equivalent in money paid or labor done, or property actually received and applied to the purposes for which such corporation was created, and neither labor nor property shall be received in payment of stock or bonds at a greater value than the...

...that "No corporation shall issue stocks or bonds except for an equivalent in money paid or labor done, % neither labor nor property shall be received in payment of stock or bonds at a greater value than the...