Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1857-03-05
G LA G. w w E E KL T nj E S

Mr. Henderson's Bill to amend the act
to secure the completion Of certain
Railroads in this State. I'LL.
About twelve o'clock on Saturday night
last (suys the Jefferson Daily Inquirer Of
Mondsy,) the House of Representatives,
after adopting several amendments, succeed
ed in coming 10 vote on this bill. We
give our readers some Of its principle fea-
lures as it passed.
Sou1H-W VEST BnANcu.
The bill as originally introduced by Mr..
HENDERsoN, provided for a guarantee Of
four millions five hundred thousand dollars
Of the bonds Of the Pacific Railroad Com
patty, issued for the construction Of the
South West branch. This makes a guar
antee of one million and a half additional TO
the grant of 1866. This guarantee is based
upon the mortgage Of the million acres of
land, along the line of said branch road, and
also, upon first lien held by the State'
upon the road and its nppurlenances.
The lands will be worth at low estimate
$4,000 GOO, and the road itself when built,
will constitute ample sec lrty to the State.
This bill provides that the proceeds Of
The bonds shall be SO expended as to insure
entire completion Of the road, so far as work
may be done. The object being 10 prevent
the scattering of work along the whole line
of the road without having any part Of it
available.
II gives four years 10 complete the South
West branch TO Springfield, and in default
the road becomes the property Of the State.
TIE PAcIFIc.
The Pacific Railroad on the main trunk
is provided for as follows:
The Company upon showing an expen-
diture Of 100000 West OF Jefferson City,
may draw one million Of the thirteen hum
dred thousand granted by the act of 1855,
and which has not been issued. The re-
naming three hundred thousand may be
drawn by showing an actual expenditure
from subscriptions of one half the amount.
! A further loan Of million is made by the
bill, 10 part Of which can be drawn until it
be shown that the proceeds of all bonds
granted by the act of 1855, have been ex-
pended, and on additional expenditure Of
one.half the amount applied for has been
made, from actual means other than State
bonds, not creating lien on the road, and
the issues shall be made upon the actual ex'
penditnres on the road, exclusive Of inter.
est, discount and commissions.
This, it is thought, will complete the roat
to Warrensburg, at least, in short time
and may, if favorable subscriptions be made
! insure its completion 10 the line of the State
NoRru Missouri.
The bill as introduced, proposed TO com
: plete the rad to the junction, and for tina
purpose, loaned one million, 10 be expend
ed, at the par value Of the bonds, SO as I,
prevent the Company from sacrificing tn
bonds of the State. If they sell below par
the Company must make up the discount
by private subscriptions, which is a whole
some check.
The bill was SO amended as to make tn
t amount one million and half.
, The bill further gave the Company til
, right to use the million granted by the act q
l 1855, north of the junction, TO be used i
t completing south, which was stricken out.
The bill was SO amended as to give III
Cairo and Fulton RAILROAD 100000.
To the Platte Country Railroad, 500,
600.
To the Iron Mountain, 100000.
Making the whole amount Of aid granite
by the bill, $5,700,000.
As originally introduced, it granted onl
$3,500,000.
All the features Of the original bill ar
retained, and they are very important.
l.. Compelling each road TO finish up it
work to some polnt-at which point the sew
eral roads will pay.
2. II they sell bonds below par, the Com
panies must make up the discount by pri
e vate subscriptions.
l 8. In making applications for bonds, III
Companies cannot include interest, discount
:, and commissions, as part Of the actual eX
. pendhures.
The bill will, 10 doubt, be sent into tn
Senate, this morning, and, we trust, will b
: acted upon without delay.
( I5-It was thought by persons who had LEI
q jefferson, since the Rail Road bill passe
-. tile House. TINT the bill womb nnSs the Sen