Mr. CRESWELL. I think this bill is not obnoxious to the objection which has been urged with so much force by the Gentfrom California and just now by the Gentfrom Indiana. They seem to mistake entirely the whole scope and object of the bill. It is simply an effort by certain gentlemen of the DistCol to induce capitalists from other sections of the country to unite with them in establishing a manufacturin establishment in the DistCol. Tfiey contemplate having their principal office of business in the DistCol. They propose to have a part at least of their manufacturing establishments in the DistCol; and all that they ask with regard to lands lying outside of the District is, that they shall be invested with the authority to hold such lands as may be necessary for them in carrying on the business established within the District. The Senfrom Indiana has asserted that the very object of this bill is to establish and carr on a business outside of the District, and not inside the District. In that heis altogether mistaken. The object of the bill is merely to vest this corporation with the power necessary to hold such lands as they may find to be essential to the proper carrying on of their business in the DistCol. They may desire to hold lands for the purpose of mining ore in the State of Virginia. They may desire to hold lands for the purpose of cutting wood and manufacturin it into coal in the State of Maryland. ‘l ithout this express authority a doubt might be raised as to their capacity to hold land in the adjoining States, outside of the District. With regard to that, I hold that the Congress of the U.S., being competent to establish a corporation the corporation, when established, is vested with the rights of all other corporations establilshed by competent authority, and that they have precisely the same legal powers as an corporation established by a State; andI thin it is well settled that a corporation established by a State may hold lands outside of the State granting the act of incorporation, provided it be not inconsistent with the law of the State wherein the lands lie. Now, these gentlemen propose to invest in this manufacturing business one or 2 million dollars. They desire to have a charter that will enable them to raise this money. Their effort is, to be sure, to make money, as is common to all men.