Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1851-02-20
The Central Rail Road.

| The Central Rail Road.
On the 18th inst the Senate bill incorporating the
| Central Railroad Company passed the lower House
oy vote OF - to 2. The bill has received the
signature of the Governor, and all that is now
wanting is its acceptance by the incorporators. No
one can calculate the vast benefits that will result.
from tbs stupendous work, especially to those
portions Of the State through which the road is to
| pass. We give below, from the State Register, a
! synopsis OF the Bill:
| SEC. l. Incorporates Robert Schuyler, George
| Griswold, Gouveneur Morris, Trauklin Haven, ID.
| H. Neal, Robert RaBtoul,jr., Jonathan Sturgis, G.
W. Ludlow, John F. A. Sanford, Henry Grinnell,
VIM. IL. Aspinwa!!, Leroy Wiley, and joseph W.
Alsop, under the name Of s.7he Illinois Central Raj
road comPany,'' with the usual attributes of such
! bodies.
.. Authorizes the construction OF a road from
the termination of the canal TO Cairo, with branch
to Chicago. md another, by way Of Galena, TO i
! point opposite Dubuque.
). Gives the usual right of way, and arpropria-
ting The necessary land and materials, under the
provisions OF the law Of Nov. 5, 1919.
!. Makes capital stock one million, to be increa-
SEQ 10 the amount expended on account of the road
anu provides Tor subscriptions to the stock.
B. PROVIDES for the election and duties Of di-
rectors.
s. Names of the first board of directors.
7. Defines powers of president and directors.
s. Provides for by Jaws.
T. Provides for the ,puDis hme Mt of trespassers.
10. Provides for intersection and crossing of
roads. streams. canals, and for damages in such
cases.
IL. When the road shall connect with other
roads, provides for the terms which they shall
use track and other privileges In common. If they
cannot agree, to submit TO the tinal award OF Com
mis- sionerS.
-. Employees OF company, belonging TO trans,
TO veal badges. Lumber or freight cars not tn
follow passenger cars.
l3. Requires bell 10 be attached TO cars, sc.
II. Map and proties Of route to be flied in the Of
flee of the secretary OF state and ofthe recorder OF
each county through which the road passes.
10. Gu ants 10 the company the lands donated BY
congress-the right of way belonging to the state
the depot lot in Cairo-a property belonging to the
state, connected with the road aud right of way
through al! lands Of the State. certificate of the
organization of the company is 10 be presented to
the governor showing that the charter accepted
that one million of stock is subscribed and
twenty per cent. paid In. The company, also, to
deposite $500, 900 OF interest"ay State indeht
edness, 5000. 600 in cash or L. $. stock, in the
State ire asury, TO be returned when fifty miles Of
the road are niade.-Tben the governor to deed the
property, lands, &C., 10 the company, the company
at the same time, making deed of trust, to trustees,
to be named in the bill, OF all the road and real
tate, general security for compliance. on the
part of the company, with the law Of congress for
the completion OF the road according to tie char
ter, and the fun indemnity OF the State for all loss
or liability to grow out OF the non compliance ty
the company with the charter. The PRIOR lien Of
the state is perfect, and the indemnity ample; and
tits prov ided that If fifty mites Of road is
lleted in two years, the whole amount deposit
with the treasurer Is 10 be absolutely forfeited 10
the State.
The route OF The main track is fixed centrally, by
requiring 1t to run not more than five miles from
them. ECorner OF I u north of range l. Of 81
principal meridian, nor to divide at any place more
than II miles from straight line between the two
terminating points. A branch via Galena to Du-
hnque; another 10 Chicago, diverging not aotth of
80 IA degrees. The central track i, TO be compile
ted IN four years, and the branches in SIX years
from the execution of The deed Of trust.
One-fourth of the lands to be exempt from the
operation Of the deed Of trust, TO he sold to meet
curreEt expenses. construction, Sc, but not to be
sold faster iasn money is expended on the road.
On the faith of the remaining the COM
pany may issue bonds. and raise money to COM
plete the road-the incum5rance created by that
issue TO the prior lien OF the State.
16. On completing each fifty miles OF road, the
trustees may sell the encountered land adjacent
thereto, for cash OF bonds, on which the encum
brance created By the bonds, the tracts sold,
shall cease, and the trustees shall cancel and return
to the company bonds equal to the amount Of the
sale.
II. Trustees not to sell faster than work pro-
crosses. Lands unsold at the end OF the year,to
be disposed of by annual sales at auction
Is. After the completion OF the road and branch-
es, severally, the company to pay into the trea-
sury of the state, semi annually seven per cent
gifts gross receipts.
To- Inc SelGCtion Ot the idHus. tie compensation
of trustees, and all charges to be paddy the COM
pany-the state to pay nothing. The road to be
open to the use of the United States, free, and to
carry the mails according to the act Of c"ngless.
90. On vacation ofthe office of a trustee the va
cancy TO be filled by the governor and the company
alternately, the governor filling the first
2l. Provides for intersection ty other roads.
90. The lands to he exempt from taxation until
sold, and the other property for six years. After
six years the property of the company is t" be
taxed; and the tax up to three OF the seven per
cent. of gross proceeds, to be deducted from the
seven per cent. and if the taxation exceeds three
fourths Of per cent the excess to be deducted,
in addition to the three seventies. The amount
thus paid by the company to be applied to the pay
ment of the state debt.
%. Act to be void, unless accepted in sixty
days. and unless the work is begun by the nrst day
Of Jan. 1852.
81. Gives the state a prior lien for penalties,
taxes, dues, &c.
IS. Gives right of pre- emption to not more than
100 acres at So so, on claim being made IN three
months from the selection OF the lands, and pay
me Mt in twelve months after work is begun in the
county-the right Of way through The same being
reserved.
90. Act to be public act and to take effect from
its passage.