New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-02-04
PUBLIC WORKS or PENIS YLVANLA-IAPOR
TANT ELL FOR THEIR SALE.

Correspondence of The Tribune
HARRIsBURG. Friday, Feb. ,, 1884.
In the Senate this morning Mr. Evans, from the Commit
tee to whom referred that portion o! the Governors
Message relating 10 the sale OF the Public Works Of Penn
sylyana made lengthy and able report upon the subject
accompanied by act the main features of which send
you in advance least of OF your contemporaries
will sdd there is much feeling upon this matter aud when
the bill comes up fairly Tor discussion there will DO warm
time of it 1t time something done with our Public
Works The bill is as follows
eroqs Experience has proved that tho management OF
Public improvements Of the State is liable to great evils
and are no attended with that success which was anc
pated And Whera tho liquidation of taxation is OBJ
ect earnofy desired, and which may be promoted bya
sale Of the Canals and Railroads of the State at fair prices
therefore.
b. 1t ena ted Sc That after the passage Of this
act as may be- it shall be the duty of the Secretary Of the
Con monBealh advertise for proposals for the purchase
of the several divisions Of the State improvements that
TO cay tho Delaware Division, the Main Line from Phla
derha to Pittsburgh the Susquehanna and North Branch
Division end the Nes, Branch Canal which proposals. u
any shall be received, shall be publicly opened by the
Governor at day and hour to be fixed in the advertise
ment and in the presence Of the several heads of Depart
meuis who hall proceed 10 aot the said divisions 20 he
highest and best bidder together with all property real
Iersona and mixed theTcunto belonging subject to the
eIms and provisions Of this act provided that no bid
following that is TO say
For the Delaware Division o. tie Pennsylysnia
FoT susquetauna and Branch Division 10000
For the N'H Branch ~uP
s21OooOo
And be Governor is hereby authorized and empowered
organize ard incorporate the purchasers ia behalf Of
whom the bids fr either Of the divisions may have been
given under the style and title des grated abOye
according the divisions allotted by the Governor 10
the Iurchagtrs with all tie powers and pryl ge ana
subec TO oil the provisions and restrictions prescribed by
act regulating railroad companies, approved 10Th FEB
ruary 1852 not inconsistent with the provisions of this act
Sec g 1ha; the Governor shall require the payment OF
90 per cent Of the purchase money in cash or 81 e Bonds
par OF the time Of allotment or within thirty days there
after and tho balance Of the purchase money for each
division shall be divided into ten equal payments. fof
which the company purchasing division shall issue It's
bonds for tie amount Of the purchase money remaining
due said division which, without any other reserve
than this act shall be lien on all the works and the IN
proyemns transferred TO oDy such canal or railroad ani
C6nal Company which shall bear ineres; al six per
cert Ior eIu and Do made payable in cash o. in so;ts
q tbs Commonwealth one each year. foF ten consecutive
.eers.
Sec That in osse said dvisions or either Of them
fha lot be sOt;ed provided aforesaid the Cover
T. emf at such time and place az ne my deen
roper, 10 o.en books receive subscriptions, organize
company corpauie Will appropriate names, styles AMI
titles above designated each having the sane powers
and privileges end jet 10 the provisions AM re
sticors are hereinafter provided
Sec Eef the capital stock u said companies, in cis
If such puI,hae by other than existing corporations shan
he e. follows: $3.50,
The Delaware Navigation 20. shan consist o. ~''-''
flares ~ so each -,
Tie PHILADELPHIA and Pittsburgh Railroad aud CAnsl
Co. 90 0c0 shares at So0ea 49,,
Tie North Branch Canal Co, 900 shares al ~
each ..
The West Branch Canal Co. 10000 shares q soS ssia
See. s. Relates 70 provisions in case Of 'Ai''
provides ioE transfer ,, ,,,oh.- Of
Section p.oyid that il case the wegis nleI ~
either ,mpsny shsn no. BE- subfcrosa N'Hi1 VD ,I
Gcn re opeuiug # the books the 1o,eI . -
10 subscribe the balance, To,as1 l. u''' 49,
curgl, Of he VIII nj
seton -v,5es for the leyy.ng and collecting OF Tolls
~ 49, en- ,ii,tie. 40 purchasing
rs, sitb r q the aiOreseid companies shan
$500. 10 borrow money for The purpose u improving
20 f.girg n cir works IN any not exceeding " per
c,+ ~ fr caIitsl stock at the rate Of not more tbs
49,. rer arnurn, 10 issue it, bons or obligations
IN sums Of not lees than 81 COO each, and 70
r, 20 e real estate, canal or raEoads aid fa1ehs es
Of he company a. security therefor
see authorizes one company 10 subscribe Tor inc
,toek of the other, &c.
see 10 and II relates to the mode Of paying OF ne
for2s makes provision in forfeiture and refer ID
The ca ring out the good faith Of contracts &c.
Sec i says that al moneys accran{ % me ireasa.
~ roI tie sale Of the Public Works sha Dc adced 70 e
Sinking Fund applied for the payment Of the pa6hc deo.
Sec -. ThatI any portion Of the PaDhe m"r * AZ
rot seld the Governor shall advertise 10 %,
leasing Of the same IN separate divisions y "a
corporations, for period not exceeding zen go
prciosak as received any shah be reported 70 ' n'4'
L-s-!-.S-s.