91 Ga. 400 | Ga. | 1893
In the present case, the corporation answered that it had no funds, nor any means of obtaining such; and also, that it would not be profitable to operate the canal if it were .put in navigable condition. Nor the purposes-of the decision below this answer was taken as true,, the question of its sufficiency being raised by demurrer..
So long as'the corporation retains its franchise, it will not be allowed to urge as an excuse for failing to perform any duty required of it by its charter, that the-same would be unprofitable. It cannot consistently keep the franchise and refuse to perform the duties incident thereto for the mere reason that such performance-would be unremunerative. If the rights, privileges and franchises granted by the charter are, in connection with the corresponding duties thereby imposed, no longer-desirable, the company should simply surrender the charter.
As to the validity of the other reason alleged for