Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1853-03-31

with any Rail Road or Rail Roads leaa;,u
from that point on the New jersey si5s
ofsaid River, to Philadelphia, or elsewbers
SECTION T. That said COMPANY shall
be, and they are hereby authorized to
borrow money to an amount not exceed.
ing one million of Dollars, upon Bonds to
be issued by said Company, secured bv
mortgage upon so much of the corporate
property as shall be deemed ADEQUATE
for the purpose of such security whenever
the said President and Directors shall
deem the issue of such Bonds expedient
Provided however, That the rate of in.
terest on said Bonds shall not exceed tbe
rate of seven per centum per annum. and
that said Bonds shall be convertible into
the Stock of the said Company at the Oh.
ton of the holder or holders of said Bond
And Provided also, That the whole a.
mount of stock subscribed and of bonds
issued shall not exceed the sum of Two
Millions five hundred thousand Dollars,
and that no bond be issued for sum
less than one hundred Dollars.
SECTION s. That the President, Di-
rectors and Company of the Delaware,
Lehigh and Wyoming Valley Rail Road
Company be and they are hereby autho-
rlzed to pay to the Stockholders entitled
TO receive the same, in the months of Jan
uary and July in each year, interest, at
the rate OF six per centum per annum on
all instalments paid by them, and contin-
ue to pay the same till the road shall be
completed. All the profits or earnings
of the said Rail Road within the same
time, shall be credited to the cost of con-
struction, and all interest paid shall be
! charged to the cost of construction
Provided, that interest shall not be paid
upon any share of stock upon which any
instalment, which has been called for, re-
mains unpaid. Provided further, That
the Stock of said Company shall not be
subject to any Tax in consequence of the
payment oil the interest hereby authorized
nor until the net earnings of the Comp
any shall realize at least six per centum
per annum upon the Capital invested.
| SECTION 9. That said Company shall
afford every reasonable facility and con-
venience for a connection with the Phil
adelphia, Easton and Water Gap Railroad
Company, which is hereby authorized
to be made by the Company last named,
in such manner as shall avoid the neces-
sity for transhipment, and shall so regu-
late their charges for motive power and
transportation that they shall not in any
case discriminate against said Philadel-
phia Easton and Water Gap Rail Road
Company, nor in favor of any other Com
pany in this or in any other State, to
the exclusion or injury in any manner of
said Philadelphia Easton and Water Gap
Railroad Company, but said charges shall
be so regulated and made between the
said Delaware, Lehigh and Wyoming Rail
Road Company and the said Philadelphia,
Easton and Water Gap Railroad Compa-
ny for all passengers and freight passing
from one Road to the other, and over the
whole or any portion of said respective
tive lines Of Railroad, that pro rata
rate per ton per mile on freight, shall be
established and charged by each compa-
ny respectively. And in any Contract or
agreement which may be made by said
Delaware, Lehigh and Wyoming Rail
Road Company with any other Company,
/ the said Philadelphia, Easton and Water
Gap Rail Road Company shall have the
same privileges and advantages in such
contract or agreement, for the conveyance
of passengers or tie transportation of
freight which may pass over or be des-
tined to pass over their Road or any por-
ton thereof, as may in any case be exten-
ded to or be enjoyed by any other COM
pany in this or any other State, and, the
said Philadelphia, Easton and Water
Gap Rail Road Company shall in like
manner reciprocate these privileges and
advantages with the Delaware, Lehigh
and Wyoming Rail Road Company
SECTION 10. That the Commissioners
named in this Act are hereby authorized
to proceed at once to make Survey, and
establish the site of the Road contempla-
ted by this Act.
W. P. SCHELL,
Speaker Of the House Of Representatives.
THO. CARSON,
Speaker Of the Senate.
APPROVED, the fourteenth dag Of