The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1858-03-27


Of them, shall revert to the state. Lost.
Mr.. Cook moved to amend section l, line 80,
by inserting after the word bond, and the
first mortgage thus transferred to the State
Treasurer shall be THE FIRST LIEN upon and
take precedence over any other bonds that
may be issued upon the first fifty miles of road
which said companies may respectively con-
struct' Lost.
Mr.. Smith, of Hennepin, offered the follow
ing amendment in Committee OF the Whole
1t was voted down like all the rest of the same
sort:
No bonds shall be delivered to either of
said companies, until such company as may
apply for the same shall have acquired a title
in fee simple absolute to one hundred and
twenty sections of land along the line eff its
road which company, at the time OF the de-
livery of the bonds, shall deed the same, free
from all encumbrances, to the State in trust
for the better security of the Treasury
HOUSE-March 9Th.
Mr.. Lord moved the following Amendment:
''Whenever either of said companies shall pro-
duce to the Governor Auditor and Treasul er of
State, evidence satisfactory to each OF said, Off
GERS, verified by the affidavits of the Chief En-
gineer Treasurer and two Directors ofsaid COM
pany that ten consecutive miles OF the road OF
said company have been actually completed
the Governor shall cause to be issued and deli
vered to said company State Bonds to the a.
mount Of one hundred thousand dollars; and
whenever thereafter, and as often as either OF
said companies shall produce to the Governor,
Auditor and treasurer of State like evidence Of
further construction of ten miles of its road
| as above provided, then the Governor shall
| cause to be issued and delivered to said COM
| pany State bonds to the amount eff one hun
| drod nd dol xxho
| Ter, and as often as either of said companies
shall produce to the Governor, Auditor and
| Treasurer of State like evidence Of further
| construction of ten miles of it's road above
I provided. then the Governor shall cause to be
issued and delivered to said company further
like bonds to the amount of one hundred thou
sand dollars for each and every ten miles of
road thus constructed and whenever either
of said companies shall produce like evidence
| that twenty consecutive miles of it's road are
actually completed and cars running thereon,
the Governor shall cause to be issued and de-
| livered to such company like bonds to the
amount Of two hundred thousand dollars !; and
| whenever thereafter, and as often as either OF
said companies shall produce to the Governor.
| Auditor and Treasurer of State like evidence
hat an additional ten miles of said road is in
| operation as aforesaid. the Governor shall
cause to be issued and delivered to said COM
pany further like bonds to the amount of one
hundred thousand dollars until the full amount
OF bonds hereby authorized shall be issued
Provided. That two-tifths of all bonds issued TO
the Southern Minnesota Railroad Company
| shall be expended in the construction and
! equipment of the line of road from La Cres
cent to the point of junction with the Transit
road, as provided by law.
| Mr.. Libbey offered the following amend
ment:
The company or companies desiring to OBJ
tain such AID, having first issued to the State
Treasurer first mortgage bonds respectively.
equal in amount to the proposed loan of State
credit to each company secured by mortgage
on the road, lands and franchises of the res
ppctve companies. having exclusive priority
of all other liens thereon, created or suffered
by said companies or either of them, executed
so said Treasurer for the use of said State and
| as security for such lOan
Mr.. Peckham moved to insert in the 34th line
after the word 'ssued, )" 'evdence that sum
OF money equal to one quarter OF the amount
of said bonds has been actually paid into the
respective treasures OF said companies by the
shareholders thereof"
Mr.. Gaskll offered the following amend
ment:
! Section l. line G5. etrke out all between the
word interest" in said line, and provided"
! in line 80, and insert:
| And whenever any one of said companies
| shall have completed twenty consecutive miles
of road, with the cars running thereon. and
| SHALL 10y virtue of compliance with the cOndi-
tons of an act of Congress, passed March ,.
| 1857, entitled an act making grant of land
to the Territory Of Minnesota. in alternate
sections to aid in the construction of certain
railroads in said Territory, come into full and
lawful possession OF one hundred and
twenty sections of land, or so much land as
said company may be entitled to by the twen-
| ~ miles of road Completed as aforesaid. with
full power to sell, convey or otherwise dispose
of the same. the Governor shall demand and
receive from such company, before any of said
bonds are issued deed of conveyance to- the
State of said lands in trust for the better Sc
cnrity of the Treasury of the State from loss
on the aforesaid bonds and whenever there
after either of said companies shall have COM
pleted the construction and equipment of ano-
| Their twenty consecutive miles OF road and oh
tanned a title to one hundred and twenty Sec
| tOns of land therefor, as aforesaid, the Cover
nor shall demand ana receive OF said company
like conveyance as aforesaid and the said
deed OF trust shall authorize the Governor and
| Secretary of State to make cOnveyances of
title to all or any of such lands to the pur-
chaSers, mot exceeding two hundred and forty
| sections, and the proceeds of sl.h sales shall
crung upon said bonds and as sinking fund
to meet the payment Of the interest and priu.
| cipal thereof in case Of default of the payment
| OF the sum when due by said company and as
further security, the Governor shall demand
and receive from each of said companies, be
tore any Of said bonds are issued. an amount of
first mortgage bonds on the roads lands and
franchises OF the respective companies CORES
pOndlng to the State bonus issued, which shall
be transferred to the Treasury of the State at
the time Oh the issn9 of State bonds.
In case aitner of said companies shall make
default in payment Of either the interest or
principal OF the bonds issued to said companies
Dy the Governor. no more State bonds shall
thereafter be issued to said company so in de-
| fault. and the Governor shall proceed to sell
the lands held in truat as above. or require a
| foreclosure q tAc mOrtg executed to secure
the sane.
Mr.. Peckham moved to insert the word
consecutive" before the word miles" ESQ as
to compel the companies to grade or construct
ten consecutive miles. and not make gopher
skips over all the rough Dlaccs.t
Mr.. Parker offered the following amend
Eieht
A bond approved by the Treasurer in the
penal sum of Ole million of dollars cOndi-
toned tor the payment to the State Treasurer
semi annually, of seven per centuln of the
gross earnings of said road, for the purpose Of
creating fund for the payment of the ;Dtercst
on the Minnesota State railroad bonds, and a
further bond appro ed in like manner, in the
penal sum of one million of dollars condi.
toned that said company shall convey to the
State.
All the above amendments were voted
down.
: To prevent the offering OF any further
:, amendments. and to cut off all debate, Mr.
Pierce noveG. tte previous question upon or
derng the bin to be read third time.
Mr.. Randall called for the yeas and nays
which were ordered and the result of the
vote was yeas As. and nays Is, as follows:
Those who voted in the affirmative were.
Messrs. Balcomie. Bearce. Bcvans. Bray
Burgess. Buffers Carpenter. Chase, Chowen
Crosby, Cruttenden, Cummings Fro t. Gibson