by John Marshall Harlan

“ To avoid the conclusion that there was a purpose to devise a plan whereby railroad property should be exempt from taxation, which the constitution of 1865 intended should be taxed, we must assume that the legislature intended to invite railroad corporations having general power under their charters to construct branch roads, to waive the exercise of such power, and construct roads under the provisions of the act of 1868 which, although not granting an immunity from taxation, yet afforded peculiar protection to those whose money might be used in such construction. ”

“ The holders of stock in an railroad company which was subscribed in aid of the construction of a branch road according to the provisions of this act shall have the same rights as other stockholders in the company in the choice of officers; but in all matters directly and specially affecting the interests of such branch road the stockholders in such branch shall control, and for such purpose the directors, under their by-laws, may, or on the petition of parties representing one-tenth of such stock shall, call a meeting of the stockholders in such branch, setting forth the object of such meeting ”

“ In the condition in which all the railroads of Missouri were left by the civil war, it would have been difficult to raise money to build branch roads if their future was to be endangered by connection with main lines which needed repairs, and the corporations owning which were without credit. ”