§ 144. Day's Work. In the employment of workmen by any such corporation, ten hours service to be performed in the day time, shall constitute a day's work, unless the agreement of service shall otherwise provide.

§ 145. Arbitration of Disputes. (1.) Act of 1898 to apply,-Corporations formed under this Act shall be subject to, and shall have the benefits of, the provisions of the Act of June 1, 1898, c. 370, providing for the arbitration of disputes between carriers engaged in interstate commerce, and the provisions thereof are extended to all corporations formed under this Act; but when the dispute is between a trading corporation and its employees the Commissioner of Corporations shall perform the duties assigned by that Act, to the Chairman of the Interstate Commerce Commission.

(2.) Compulsory, when,-Whenever a dispute arises between a corporation formed under this Act and a trade union incorporated under the National Trades Union Act of June 29, 1886, c. 567, 24 Stat. 86, or between such corporation and any other trade union which tenders a bond in such sum and secured by such sureties as the Commissioner of Corporations, or the Chairman of the Interstate Commerce Commission, and the Commissioner of Labor shall deem adequate made payable to such corporation in case of refusal to abide by the award of arbitrators, and such dispute cannot be settled by mediation and conciliation as provided in said Act of June 1, 1898, c. 370, either party to such dispute may require the same to be submitted to the arbitration of a board of three persons; such board may be chosen, and the terms of submission including the questions to be decided may be fixed as provided in said Act; if not, the party who wishes to have the dispute arbitrated shall first submit in writing the points in dispute which it desires to have decided, to the other party, with a request that said party approve such statement, or formulate one of its own, and also choose an arbitrator in accordance with the provisions of said Act. The party making such request shall within ten days thereafter choose an arbitrator in the manner provided in said Act; and if the other party fails to comply with such request to choose an arbitrator for fifteen days, the party making the request shall apply to the judge of the United States District Court of the district wherein the dispute arises, who shall within five days thereafter name an arbitrator on behalf of the party so neglecting or refusing; the third member of the board shall be chosen as pro

vided in said Act; such board shall have full power to fix the time and place of hearing, to notify the parties thereof, and to hear and determine in full the matters in dispute contained in the written submission of the parties, or upon the statement made by the party requesting arbitration, if the other party has or has not approved it, or has or has not formulated a statement of its own, and if so, upon all matters that may be in controversy between the parties, in such manner in all respects as in equity and good conscience, such board thinks fit; the board shall otherwise have the power to, and shall, proceed as provided in said Act, and its award shall be as binding and shall have the same effect upon the parties as if they had expressly made and acknowledged an agreement of arbitration in writing, and stipulated to be bound by the decision of the board thereunder, as provided in said Act.

§ 146. Employers' Liability. (1.) Death of employee,-Any corporation formed under this Act shall be liable to pay, except as hereinafter provided, to any workman or laborer in its employment, who sustains personal injury arising in the course of such employment, compensation as follows: if death results from the injury, and such workman leaves any persons wholly dependent upon his earnings at the time of his death, there shall be paid a sum equal to his earnings for the preceding three years, if he had been employed by such corporation for such period, or if not, then 156 times his average weekly earnings while so employed, or $750, or whichever sum is the larger, but not in any case more than $1500; or if he leaves persons only in part dependent upon him, then the sum shall be fixed by agreement, or by arbitration, to be reasonable and proportionate to the injury to such dependent, but not to exceed the sum allowed in case of those wholly dependent upon such earnings; or if no dependents are left then the reasonable medical and burial expenses not to exceed fifty dollars. Such payments shall be made to the personal representatives of the deceased, if any, for the benefit of the dependent, or to them, or to those to whom they may be due, but such sum shall not be considered as a part of the estate, and subject to the debts, of the deceased.

(2.) Injury without death,-In case death does not result from the injury, but only total or partial incapacity, then during the time of incapacity, a weekly payment of fifty per cent of the average

weekly earnings for the preceding twelve months, if so long employed by such corporation, or if not then of the average for the period so employed, but in neither case to exceed the sum of $5.00 per week; but regard shall be had in fixing such weekly payment to the difference in capacity to earn before and after the accident, and to any sum recovered by such workman, other than wages, from such corporation in respect to such injury. Such corporation shall be liable to the workmen of a contractor or sub-contractor to whom such work has been let by such corporation, if such workmen are injured thereby, to the same extent and in the same manner, as if they had been employed directly by such corporation. (3.) Not to apply,-No compensation shall be made for an injury which does not disable such workman for more than three weeks, from earning full wages at the same work, nor for any injury which is due to the serious and wilful misconduct of the workman himself. (4.) Notice,-Compensation hereunder shall not be recovered unless notice of the accident shall be given as soon as practicable, and not more than six months after its occurrence and before the workman has voluntarily left the employment of such corporation. The notice shall give the name and address of the person injured, and shall state in ordinary language the cause of the injury, and the date and place where sustained, and the same may be served upon such corporation by the party entitled to compensation as is provided in section 88 (3), for serving summons.

(5.) Other liabilities,-Nothing herein shall affect the civil liabilities of such corporation for damages due to the negligence or other wrongful act of such corporation, or its agents or servants, but the right to maintain an action therefor shall remain the same as heretofore, and proceedings may be had hereunder or otherwise; but proceedings had under one with full payment thereof, shall be a bar to proceeding under the other; if, however, damages under a supposed civil liability are sought to be recovered in an action which fails, such failure shall not be a bar to the right of compensation hereunder, and if the plaintiff so demands the court may assess such compensation, and may deduct therefrom the costs caused by the plaintiff bringing an action for damages, if in its judgment justice so requires.

(6.) Waiver,-No contract or agreement of any kind whatever made with such corporation whereby such workman agrees to waive or relinquish such compensation for injury as herein pro

vided, or any civil liability for damages due to the wrongful or negligent act of such corporation, or its agents or servants, shall be of any validity whatever.

(7.) Insurance,-Such corporation shall be deemed to have an insurable interest in the safety of its workmen, and may insure itself against the liability herein created; but the party entitled to compensation shall have a prior claim upon the amount due the employer from any insurance company because of an injury to any workman.

3. Annual Report.

§ 147. Required in all Cases. (1.) Transportation,-Every transportation or transmission corporation organized under the provisions of this Act, shall be required to make and file with the Interstate Commerce Commission, an annual report for the fiscal year ending June thirtieth of each year, such as may be required by such commission under the provisions of this Act and those of the Interstate Commerce Act, and the amendments thereto.

(2.) Trading,-Every trading corporation organized under the provisions of this Act, shall be required to file annually with the Commissioner of Corporations, such a report as may be required by him under the provisions of the Act creating the Department of Commerce and Labor, and the amendments thereto.

(3.) Contents,-In any event such report, whether of a transportation, transmission, or a trading corporation, shall include the following:

(1.) The name of the corporation.

(2.) The location, town or city, with street and number of the registered office, with the name of the registered agent therein.

(3.) The names and post office addresses (other than the registered office) of all the directors and officers of the corporation at the time the report is filed, and the date of the expiration of their term of office, together with a copy of the alphabetical list of shareholders, made, used and filled in by the inspectors at the annual election, as provided in section 113.

(4.) The character of the business or businesses carried on by the corporation.

(5.) The location of any and all transfer offices.

(6.) A correct copy of the last shareholders' balance sheet and report.

(7.) The market value of all outstanding shares, bonds and debentures, as of the preceding thirtieth day of June, specifying the amount of each, and the total of all.

(8.) The total assessed valuation of all the property of such corporation as made by state assessors for taxation at the last appraisement, indicating the amounts in each state, and the total of all.

(9.) The total cost of permanent improvements made during the year, and paid for out of the income from operations and invest

ments.

(10.) The date of the next annual shareholders' meeting for the election of directors.

(11.) A list of the dates of the certificate of incorporation and the amendments thereto, in chronological order.

4. Taxation.

§ 148. Method. (1.) Property, by states,-Corporations organized under this Act shall be subject to a franchise fee, and taxation as herein provided, and in no other way: All corporate property. | real, personal, mixed, tangible, and intangible, not including the corporate franchises, good will, capital stock, and shares in the hands of the shareholders, shall be subject to a taxation by the state where the same is located, provided the same is assessed in the same way and no higher than other property of like kind used in a similar way, within the state, and the rate of taxation on the same is no greater than on similar property, similarly located, used for similar purposes; this provision shall not prevent the states from assessing the corporate property in the state as a part of a whole devoted to the corporate purposes, and not merely as isolated pieces of property; such property shall not be taxed by the national government.

(2.) Franchise, by United States,-valuation, rate,-An annual franchise or license fee to engage in national commerce shall be laid and collected by the national government, as follows: The total cash value of the outstanding shares of all classes, or substitutes therefor of any kind, and of all outstanding bonds, mortgages, debentures, certificates of indebtedness, receiver's certificates, scrip, or other evidences of debt, convertible into shares or bonds, or similar obligations, or having three or more years to run, shall be obtained, as of June thirtieth of each year. From the sum so