Section 2. Consolidation

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Consolidation of railroads

No railroad corporation shall consolidate its stock, property or franchise with any other railroad corporation owning a parallel or competing line; and in no case shall any consolidation take place except upon at least sixty days’ public notice to all stockholders in such manner as shall be provided by law.

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Consolidation

No railroad corporation shall consolidate its stock, property, or franchises, with any other railroad corporation owning a parallel or competing line; and in no case shall any consolidation take place except upon public notice given of at least sixty days to all stockholders, in such manner as shall be provided by law.

Summary: Prohibiting consolidation of competing lines of railroad, except following sixty days' notice to stockholders

Election Date: November 8, 1870

Votes For Ratification: 76912

Votes Against Ratification: 51194

Percent for Ratification: 60%

Percent Against Ratification: 40%

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Amendment Source: 1870 JR 1

Effective Date Source: