Page:Federal Reporter, 1st Series, Volume 5.djvu/664

 652 PEDEBAL REPORTER. �But, so far as the Savannah, Florida & Western Eailroad Company is concemed, the right of legislative control over its franchises has been plaeed beyond ail dispute, if any remained, by section 8 of the act under which the company was organ- ized. That section declares "that nothing in this act shall operate to vest in any purchaser of any railroad and its fran- chises any exemption from taxation existing or elaiming to exist in the corporation which shaU have been the owner of said railroad and its franchises, or to limit the powers of the legislature to alter, modify, or withdraw the charter and franchises herein provided." �Complainant says, however, that if the power of the legis- lature, under the charter of the company, to modify or with- draw its franchises, be conceded, yet this power is now restrained by that paragraph in the bill of righta of the con- stitution of 1877 which declares "no grant of special privilege or immunities shall be revoked, except in such manner as to work no injustice to corporatôrs or creditors of the incorpora- tion." Paragraph 3, § 3, art. 1, Constitution 1877^ �This presents the question whether the act of October 14, 1879, under which the railroad commissioners assume to act, revokes any of the privileges and immunities of the de- fendant railroad company in such manner as to work injus- tice to the corporatôrs or creditors of the corporation. That act forbids the railroad corporations of the state, including the defendant railroad company, from charging unfair and unreasonable rates of freight and fare, or making unjust dis- criminations for the transportation of passengers and freights ; and provides for the appoiritment of a commission to prescribe reasonable and just rates of freight and passenger tarifEs, to be observed by ail the companies doing business in this state on the railroads thereof. There is certainly nothing in this act hostile to the paragraph in the bill of rights just referred to. The franchise of the defendant company is to fix its own rates of freights and fares within certain limits, subject to the revi- sory powers of the legislature. It has never had absolute right to establish its own schedule of freights and farea. The right to fix its rates of charges has always been subordinate to leg- ����