SM 



PENNSYLVANIA. 



abridged or o construed as to prevent the 

 taking by the Legislature of the property and 

 franchises of incorporated companies, and sub- 

 jecting then) to public use, the same as the 

 property of individuals, and the exercise of 

 the police power of the State shall never be 

 abridged or so construed as to permit corpora- 

 tions to conduct their business as to infringe 

 the equal rights of individuals or the general 

 well-being of the State. 



In all elections for the managing officers of 

 a corporation the free vote is applied. Each 

 member or shareholder may cast the whole 

 number of his votes, or distribute them upon 

 two or more candidates, as he may jm-tVr. 



No foreign corporation shall do any business 

 in this State without having one or more 

 known places of business, and an authorized 

 agent or agents in the State, upon whom pro- 

 cess may be served. 



Any general banking law which shall be 

 passed shall provide for the registry and coun- 

 tersigning by an officer of the State of all 

 notes or bills designed for circulation, and am- 

 ple security to the full amount of the no: 

 sued shall be deposited with the State Treas- 

 urer for their redemption. 



The article on cities and city charters pro- 

 vides that the Legislature shall pass general 

 laws whereby a city may be established when- 

 ever the niHJority of the voters of any town or 

 borough, having a population of at least tin 

 thousand, shall vote in favor of the same being 

 established. 



Every city shall create a sinking fund, which 

 shall be inviolably pledged for the payment of 

 its funded debt. 



The debt of the State on November 80, 

 1878, was as follows: 



FUNDED DEBT. 



Six per coot, loanr tSO.MO.wn 00 



Five per cent. kMn* 4,'J7S,8M 01 



Poor and a half per cent. 



tarn*. 67.80000 



$28,488,934 01 



UNFUNDED DEBT. 



note* In circulation. . $'J6,!49 00 

 ltif<-rrl certificates oot- 



Uncllnp 18.0490* 



Intrrat certlOcau* unclaim- 

 ed 4,448 38 



DomeMJe creditor!' cenlfl- 



dtee 4 t '~ 



CUmbrbnn[' ' 'cerUfleaie* 



M- < n 

 au.ker.bont cettiflcMe. 



HS.WI 1:1 



Total public debt, Norembw 80, 1873 t,7W,8M 94 



ONI* IN SINKINO 



tryBAllnadOonpur 



:-..,< .i ,.i 



$8 300,000 00 



1.SJS.131 M 



11.01S.U1 M 

 vUItor $14,778,97070 



The total revenue of the State government 

 for the year ending December 1, 1878, was 

 $7,076,723.20. The expenditure amounted to 

 $6,784,027.67, leaving a balance in the Treas- 

 ury on December 1, 1873, of $1,826,151. L'f. 

 Of the revenue the largest item is derivnl 

 from the tax on corporation stocks, amounting 

 to $1,415,627.81. To this the Pennsyh 

 Railroad Company contributed $226,967; the 

 Philadelphia it Reading Company, $164. 

 11; the Lehigh Valley Company, $98,233.08; 

 and the Delaware, Lackawanna & Western 

 Company, $66,763.09. 



Next in amount is the revenue from the tax 

 on gross receipts, which reached $7'. | 7.7."'.'.-'-. 

 Of this, the Philadelphia & Reading Railroad 

 Company paid $266,866.26, and the Pennsyl- 

 vania Railroad Company $185,727.90. This 

 important source of revenue was cut oft' l>y 

 the Legislature in the early part of the year, 

 in- with the State tax on horses, cattle, 

 and other personal property, and on net earn- 

 ings. 



Next in importance comes the tax on loans, 

 the revenue from which amounted in I- 1 - 

 $688,882.93, to which the Pennsylvania Rail- 

 road Company contributed $98,806.67; the 

 Philadelphia & Rending Railroad Company, 

 $89,756.86, the Philadelphia.*: Reading Coal 

 Company, $42,823.68 ; the Lehigh Valley Rail- 

 road Company, $47,449.66; the Lehigh Coal 

 and Navigation Company, $46,376.48 ; and the 

 city of Philadelphia, $97,016.88. 



The tax on the net earnings, or income of 

 manufacturing companies, city passenger rail- 

 way companies, gas companies, bridge compa- 

 nies, turnpike companies, and private bankers, 

 amounted to $446,286.20. The revenue from 

 the tax on tonnage was $885,870.94, of which 

 the Philadelphia & Reading Railroad paid 

 $117,820.86, and the Pennsylvania Railroad 

 Company $61,422.96, exclusive of the com- 

 mutation of tonnage tax, amounting to $280,- 

 000. From the tax on coal the revenue was 

 $380,868.91, of which the Delaware & Hudson 

 Canal Company paid $146,571.04; the Dela- 

 ware, Lackawanna & Western Company, $92,- 

 469.04; the Pennsylvania Coal Company, $49,- 

 066.80, and the Lehigh Coal and Navigation 

 Company, $88,080.44. 



The tax on personal property produced 

 $541,607.91. Retailers' licenses yielded n iw- 

 enne of $424.974.89; tavern licenses, $327,- 

 978.99, and beer and restaurant licenses, $42,- 

 166. The tax on bank stocks was $288,148. 

 Foreign insurance companies contribute.! 

 $858,490.78. The collateral inheritance tax 

 paid by reluctant heirs amounted to $327,978.- 

 Tlic tux on wills, deeds, and writs, pro- 

 duced $118,117.52-. Premiums on charterx 

 amounted to $68,848.76. The revenue from 

 the tax on the enrollment of special, pri- 

 and local laws, was $86,800. 



Billiard-rooms and ten-pin alloys paid $10,- 

 552.94; the distillers and brewers for lie. 

 $8,009.47 ; the millers, $4,480.84 ; the brokers, 



