Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1846-03-11


TR SALs BlIL.--We are indebted to the kind |
ness Of Mr.. Peck, Of the House for copies of the
Railroad sale bill as offered by the commtttee and as
amended by the House. It's length forbids its pub
LEGATION entire but we lay before our readers such
parts as are of most immediate interest.
Section 4, naming the funds in which payment
shall be received, is as follows:
Sec. 4. In any payment of purchase money to be
made to the State by or from said company the state
treasurer is hereby authorized and directed to receive
and the said company may at its option, pay, except
as herenbefore provided, the whole any portion in
lawful money Of the United States, or either of
the following classes of state n!e5tedness, to wit:
First: The bonds specified in the first section of
an act entitled an act to quidate the public debt and
to provide for the payment of interest thereon, ap-
proved March 9Th, S43, and the interest bonds is
sued for unpaid interest said bonds up to July ls
l845 at the sums mentioned in said bonds respec-
lively with the interest due and unpaid thereon at the
time of the payment ofthe same into the treasury:
Second: The three millions eight hundred and
thirteen thousand dollars the five million loan ard
other bonds delivered to the United States Bank and
Morris Canal and Banking Company, and referred to
in the preamble to the sixth section Of the above
mentioned act at the rate of the, hundred and sew
enteen dollars and fifty five cents and six mills on
each one thousand dollars of said bonds for principal
and interest due thereon the first day of january 1916
and adding for subsequent interest at the rate OF SIX
per cent per annm on three hundred and twelve dol
lars and ninety cents and seven mills for each
thousand dollars of said bonds: Provided, The cou-
pvns since July lS4l shall remain attached thereto:
Thirdly: The stock issued in behalf of the Pal
myra and Jacksonburg Railroad Company, with the
interest due and unpaid thereon:
Fourthy: All warrants or other evidences of state
Indebtedness due past due, not comprehended In the
previous provisions of this section, except warrants
drawn ON the commissioner of state land Office, made
payable in lands only.
Section Is fixing the rates of freight and fare is
thus:
Sec Is. 1t shall and may be lawful for said COM
pany from time to time to fix, regulate and receive
the tolls and charges taken for the transportation OF
property and person on said Railroad, aforesaid
hereby authorized to be constructed, erected, built
made and used and for storage OF property remaining
in the depots of said company, if not taken away as
hereinafter provided: Provided: That and after
the first day of July, l848 on the opening OF said
road to Lake Michigan, whatsoever may first occur
for the transportation of persons any less distance
than the entire length of said road from Lake Mich
igan to the Detroit river, allowing to each, perso-
nal baggage not more than one hundred pounds, said
company shall not receive above the rate OF three
cents per mile and ten cents in addition on distances
not exceeding thirty miles-and that upon the fol-
lowing articles to wit -four grain, lime, salt, plas-
ter. coal, nails in kegs, iron, mill irons and castings,
fish in barrels or half barrels, lumber, sugar In boxes
or in casks not less than barrel, moasses In hogs
heads or barrels pot and pearl ashes beef pork and
wool packed in sacks; no greater sums or tolls snail
be charged for transportation per mile thereof imam
ON the first day of September last, were charged
and taken upon the respective articles aforesaid up
on the following railroads in New England, to VIII:
The Boston and Lowell, Boston and Providence,
and the Boston and Worcester railroads, the ave-
rage of the prices and tolls then charged and taken
upon the three roads aforesaid upon the above named
respective articles, when transported upon either OF
said roads excusyelyshal be the maximum price the
said company shall be allowed to charge or take upon
any of said articles unless with the consent ct ma
iority of the following state officers, viz the Secre-
tary of State, Auditor and Attorney General.
The method of determining the average on these
roads is by reference to one or more OF the above
state officers, together with equal number OF the
directors of the company. In case of disagreement
they are to leave the matter another and in case
of failure on the part of the committee the rates are
to be fxed on application of the State by the Court
of Chancery.
The rates are to be reviewed when required by the
Legislature but not oftener than once in ten years.
The penalty for the excess Of tolls partiallty &c
is one hundred dollars fine to be received by the per-
son complaining provided he can withstand the ef-
forts of the company in action
:. Sec. SO Providing for the specific tax.
Sec. SO. The said company shall pay to the state
an annual tax Of one half of one per cent upon the
capital stock paid in until the first day of February
eighteen hundred and ty-one and thereafter an an
nua tax of three fourths of per cent, upon Its
capital stock paid in including the two millions OF
purchase money paid to the state, and also all loans
made by said company for the purpose OF construc-
ting said Railroad or purchasing or constructing
of the steamboats, authorized by this act to be held by
said company (which tax shall be paid in the last week
in January in each year, to the state treasurer and
the property and effects of said company, whether
rea nersonal or Mixed shall in consideration thereof
be exempt from all and every other tax, charge and
exaction by virtue of any laws of this state now or
hereafter to be in force except penalties by this act
imposed.
DouBLE SrARs.-Prof. Mitchelrs labors at the