Shields v. Ohio - 95 U.S. 319 (1877)
U.S. Supreme Court
Shields v. Ohio, 95 U.S. 319 (1877)
Shields v. Ohio
95 U.S. 319
1. The consolidation, pursuant to the statute of Ohio of April 10, 1856, 4 Curwen 2791, of two or more railway companies works their dissolution. All the powers and franchises of the new company which is thereby formed are derived from that statute, and are subject to "be altered, revoked, or repealed by the general assembly," under sec. 2, art. 1, of the constitution of that state, which took effect Sept. 1, 1851.
2. The general assembly does not, therefore, impair the obligation of a contract by prescribing the rates for the transportation of passengers by the new company, although one of the original companies was, prior to the adoption of that constitution, organized under a charter which imposed no limitation as to such rates.
The facts are stated in the opinion of the Court.