Page:Federal Reporter, 1st Series, Volume 5.djvu/663

 TILLEY V. SAVANNAH, FLORIDA & WESTERN E. 00. 651 �ized by the consolidation of the Savannah, Albany & Gulf Eailroad Company and the Atlantic & Gulf Eailroad Com- pany, by authority of an act of the legislature of Georgia, approved April 18, 1863. When this aot was passed, sections 1651 and 1682 of the Code of 1863, which took effect Janu- ary ], 1863, were in force. The first of these sections de- clared: "Persons are either natural or artiûjial. Theiatter are the creatures of law, and, except so far as the law forbids, are subject to be changed, modified, or destroyod at the will of their creator; they are called corporations." The second de- clared: "In ail cases of private charters hereafter granted the state reserves the right to withdraw the franchise unless such right is expressly negatived in the charter." From these sections of the Code it is apparent that the rights, priv- ileges, and franchises of the Atlantic & Gulf Eailroad Com- pany were subject to alteration, amendment, or withdrawal at the will of the legislature. This point has been expressly decided by the supreme court of the United States in the case of Railroad Co.r. Oeorgia, 98 U. S. 359. In that case it was beld that by the consolidation under the act of April 18, 1863, of the Savannah, Albany & Gulf Eailroad Company, and' the Atlantic & Gulf Eailroad Company, said companies were dissolved and a new corporation (to-wit, the Atlantic & Gûlf Eailroad Company) was created, and that this new Com- pany became subject to the provisions of the Code of Geor- gia above recited. �And it has been expressly decided by the supreme court of Georgia that ail charters granted by the state since the adop- tion of the Code of 1863 are subject to the provisions of section 1682 above quoted. West End Co. v. Atlanta, 49 Ga. 161. �It must, therefore, be considered as conclusively settled that the right of the Atlantic & Gulf Eailroad Company to establish its own schedule of freight and fares within certain limits was subject to legislative modification and oontrol. The Savannah, Florida & Western Eailroad Company, having Bucceeded to the rights and franchises of the Atlantic & Gulf Company, is subject to the same revisory power. ����