Hannibal journal. (Hannibal, Mo.) 1852-1853, 1852-09-23
JEFFERSON CRY, September IA.

In the Serate this morning, after the trans
action Of unmp pstant business, the consideration
of bill to accst grant of land TO the State OF
Missouri by CoRreSS, TO aid in the construction
of certain rairads, and TO apply portion
thereof to the Hnnibal and st. Joseph railroad,
was resumed.
Mr.. jackson 1oved to amend the third section
of the bill so as 10 provide, that two years after
the completion oithe road, the capital stock and
property of the pad should be subject TO taxa
ton as other PRIORITY taxed by the State. MIR.
Allen demonstratd the effect Of such an amend
ment. The capal stock was invested in the
road and its prorrty, and by passing the pro-
posed amendmentthe company would be doubly
taxed.
Mr.. Jackson stuck from his amendment the
words Capital sock," so as to make 1t stand
"to tax the prOprty of the company" His
amendment as afpnded was, alter debate, re-
jected, by voteI IA TO 13.
MIR. Richardsa moved 10 amend the third
section, by striking out two per cent. bonus TO
be annually paid 1.-THE State, and insert three
per centum of th, net earnings Of the road.
This amendment wa rejected.
Various other apihdments having reference
to the taxation OF preerty of the company, were
offered and rejectedand tRen the Senate ad-
iourned TO the Afternoon.
AFTER-ooY SESSION.
Senate met at CLOCK, and resumed the con-
sideratf6n of the Hannibal and st. Joseph rail-
road bill.
Mr.. Sturgeon ofrerd in lieu Of the third Sec
tiun of the bill, an mendment, providing that
when the receipts of he company shall exceed
its expenses, SO as to enable it to make divi-
dends, it shall pay intothe treasury Of the State
- sI,n ha aot,ol
to taxation by the Sta of its capital stock, at
its cash value, which sill be consideration to
the State for the execuon Of the trust reposed
in the State by COngres; and for the purpose
.of aseertaining when th receipts of said compa-
ny, in its business, oW and above its expendi-
tures.c vii justify sA company in making
dis0arE ~ ioyerF of this State, or such
aseia ~ & mott, SHALL at any time after
the com paIfy ~ s6ol business, have the right
TO examine the books said company; and 1t
shall be the duty Of hd company TO advise the
Governor of the factwheneyer it is in a coAdi-
ton to declare didend. This amendment
was accepted by thesenate.
Mr.. Griffin propped TO amend the first sec
ton of the bill, byinserting Provided, said
company shall constlct said road from Hsnni-
bal to St. Joseph byPalmyra, and complete the
same within the ptiod Of five years which
was rejected.
Mr.. Flournoy thoght sufficient time had been
exhausted in consiering and rejecting amend
ments, and he need the previous question
which was rerusedby ayes l3apays 10.
MIR. Young mosd as substitute for the
amendment Of M Sturgeon, the following: sin
,cohsidera.ion Of the privilege hereby conferred
said company shall, after completing said road;
eay annually into the treasury of the State all
Sho excess Of dividend Of six per cent. for the
pufpose of aiding in the construction oil other
roads to be constructed 10 intersect said road
and in consideration thereof, the capital stock
and property Of the road shall be exempt from
taxation. This amendment was rejected. Ih'
bill was then read third time, and as amende'
by Mr.. Sturgeon, was passed by the following
vote:
Ayes Messrs. Allen, Brooking, Chew
Drake, Dunlap, Elston, Flournoy, Grover
Hudspeth, Jackson, James, Jones, Morris
Parks, Robinson, Russell, Stewart, Stout, Stul
eeon, White and YOung-24
Nays - Messrs. Griffin, Lindsay, and Raw
lins--3.
The Senate then took up the consideration
Cls bill applying portion Of lands donated