interested in the stock of any company, association, or corporation.

STATE CREDIT.-This section prohibits the loaning of public credit for private purposes under any circumstances. (Stockton etc. R. R. Co. v. Stockton, 41 Cal. 147; Ramsey v: Haeger, 76 Ill. 432.)

It does not prohibit the appropriation of public funds to aid a corporation in the construction of a railroad to be used for military purposes. (People v. Pacheco, 27 Cal. 175.)

Sec. 14. Every corporation other than religious, educational, or benevolent, organized or doing business in this state, shall have and maintain an office or place in this state for the transaction of its business, where transfers of stock shall be made, and in which shall be kept, for inspection by every person having an interest therein, and legislative committees, books in which shall be recorded the amount of capital stock subscribed, and by whom; the names of the owners of its stock, and the amounts owned by them respectively; the amount of stock paid in, and by whom; the transfers of stock; the amount of its assets and liabilities, and the names and place of residence of its officers.

Sec. 15. No corporation organized outside the limits of this state shall be allowed to transact business within this state on more favorable conditions than are prescribed by law to similar corporations organized under the laws of this state. 18+1.5.

FOREIGN CORPORATIONS.-The act of 1880, providing for a penalty for failure of the directors of a domestic mining corporation to post weekly reports, etc., is not in violation of this section, and does not relate to the business of the corporation. (Miles v. Woodward, 115 Cal. 308, 46 Pac. 1076.)

This section was not designed to limit the powers of the legislature when dealing with the organization and government of corporations which are created by its own will and act. (Miles v. Woodward, 115 Cal. 308, 46 Pac. 1076.)

The act of 1876, requiring banking corporations to publish and file statements of their assets and liabilities, applies to foreign corporations. (Bank of British North America v. Madison, 99 Cal. 125, 133, 33 Pac. 762.)

Sec. 16. A corporation or association may be sued in the county where the contract is made or is to be performed, or where the obligation or liability arises, or the breach occurs; or in the county where the principal place of business of 'such corporation is situated, subject to the power of the court to change the place of trial as in other cases.

ACTIONS

AGAINST CORPORATIONS. — This section is merely permissive, and not mandatory. Fresno Nat. Bank v. Superior Court, 83 Cal. 491, 24 Pac. 157.)

It applies to actions of tort as well as matters of contract. (Lewis v. Southern Pac. R. R. Co., 66 Cal. 209, 5 Pac. 79.)

It gives to the plaintiff the right to elect either to sue the corporation in the county where the contract is made, or is to be performed, or where the obligation or liability arises, or the breach occurs, or in the county where the principal place of business of the corporation is situated. (Trezevant v. Strong Co., 102 Cal. 47, 36 Pac. 395.)

The right to sue a corporation in the county where the contract was made only applies when the corporation is the sole defendant in the case. (Griffin etc. Co. v. Magnolia etc. Co., 107 Cal. 378, 40 Pac. 495.)

An association of persons organized for a particular purpose, although not formally a corporation, is included in this section. The word "association" does not necessarily mean an association possessing corporate powers and privileges. (Kendrick v. Diamond etc. Min. Co., 94 Cal. 137, 29 Pac. 324.)

Under this section an action for libel may be maintained in the county in which the plaintiff resides, when the newspaper is circulated in that county but published in another. (Brady v. Times-Mirror Co., 106 Cal. 56, 39 Pac. 209.)

But where the plaintiff sues other persons than the corporation publishing the paper, he waives the provisions of this section. (Brady v. Times-Mirror Co., 106 Cal. 56, 39 Pac. 209.)

An action against a corporation for leave to redeem real estate is properly brought in the county where the real property is situated. (Baker v. Fireman's Fund Ins. Co., 73 Cal. 182, 14 Pac. 686.)

In an action against a corporation for damages for breach of contract, the defendant is entitled to a change of place of trial to the county in which its principal place of business is situated, when the county in which the action is brought is not the one in which the contract was made, or was to be performed, or in which the obligation arose, or in which the principal place of business is situated. (Cohn v. Central Pac. R. R. Co., 71 Cal. 488, 12 Pac. 498.)

Sec. 17. All railroad, canal, and other transportation companies are declared to be common carriers, and subject to legislative control. Any association or corporation, organized for the purpose, under the laws of this state, shall have the right to connect at the state line with railroads of other states. Every railroad company shall

have the right with its road to intersect, connect with or cross any other railroad, and shall receive and transport each the other's passengers, tonnage, and cars, without delay or discrimination.

RAILROADS.-The legislature may regulate railroad crossings. (Pittsburgh etc. R. K. Co. v. Southwest etc. Ry. Co., 77 Pa. St. 173.)

It may require railroad companies to ring a bell or sound a whistle at a crossing. (Galena R. R. Co. v. Appleby, 28 Ill. 283; Galena R. R. Co. v. Loomis, 13 Ill. 548.)

It may regulate the speed of trains in a city. (Chicago etc. R. R. Co. v. Haggerty, 67 Ill. 113.)

It may require them to erect fences and cattleguards. (Suydam v. Moore, 8 Barb. 358; Waldron v. Railroad Co., 8 Barb. 390; New Albany etc. Co. v. Tilton, 12 Ind. 3; Madison etc. R. R. Co. v. Whiteneck, 8 Ind. 217; Ohio etc. R. R. Co. v. McClelland, 25 Ill. 140; Kansas etc. R. R. Co. v. Mower, 16 Kan. 573: Jones v. G. etc. R. R. Co.. 16 Iowa, 6: Indianapolis R. R. Co. v. Kercheval, 16 Ind. 84; Nichols v. Somerset etc. R. R. Co., 43 Me. 356; Winona etc. R. R. Co. v. Waldron, 11 Minn. 515; Gorman v. Pacific R. R. Co., 26 Mo. 441; Blair v. M. etc. R. R. Co., 20 Wis. 254; Pennsylvania R. R. Co. v. Riblet, 66 Pa. St. 164.)

Sec. 18. No president, director, officer, agent, or employee of any railroad or canal company shall be interested, directly or indirectly, in the furnishing of material or supplies to such company, nor in the business of transportation as a common carrier of freight or passengers over the works owned, leased, controlled, or worked by such company, except such interest in the business of transportation as lawfully flows from the ownership of stock therein.

Sec. 19. No railroad or other transportation company shall grant free passes, or passes or tickets at a discount, to any person holding any office of honor, trust, or profit in this state; and the acceptance of any such pass or ticket, by a member of the legislature or any public officer, other than railroad commissioner, shall work a forfeiture of his office.

RAILROAD PASSES.-As to the nature of a proceeding to remove an officer for accepting a railroad pass, see People v. Superior Court, 114 Cal. 466, 46 Pac. 383.

Sec. 20. No railroad company or other common carrier shall combine or make any contract with the owners of any vessel that leaves port or makes port in this state, or with any common carrier, by which combination or contract the earnings of one doing the carrying are to be shared by the other not doing the carrying. And whenever a railroad corporation shall, for the purpose of competing with any other common carrier, lower its rates for transportation of passengers or freight from one point to another, such reduced rates shall not be again raised or increased from such standard without the consent of the governmental authority in which shall be vested the power to regulate fares and freights.

COMPETITION.-Where a railroad company lowers its passenger rates in order to compete with another road, and afterward raises them without the consent of the railroad commissioners, such com