Delaware State journal and statesman., 1862-07-29
TUESDAY. JULY %, 1862.


touching tho location Ani construction OF said
road aud telegraph. Said directors may require
payment Of subscriptions TO tho capital stock,
alter due notlcu. AT such times and in such pro
PORTIONS us they shall deem necessary 10 uomplplu
the rnlroad and lovgrsph within the time in lha
act prescribnd Said president, vice president
aud dirccLOra shall hold their UHou for thrug
years, auh until thcir sucUessnrs are dlly elected
and qualified, or for such less time as the by
laws Of the corporation may prescribe pul
majority VI said directors shall constitute a
quorum for the transaction Of buAincss. The
secretary mud Treasurer shall give such bDnds
with such security rs tho anid board uhnl from
timc to time require, aud shall hold their Offices
at the will nnd pleasure Of tic directors. AnunOl
meetings of the stockholders OF the said corpo-
ration, for the choice Of officers (when they are
to be chosen) and for the transaction Of annual
business, shall be holden ut such tns aud place
aud upon such notice AS may be prescribed in
the by. laws,
Sec. . Aad be Il further enacted, That tho
right of way through the public lands be aud
the same is hereby granted to said company for
the construction of said railroad and telegraph
line and the right, power aud authority is here
by given to said company to take from the public
lands adjacent to the line Of said road earth,
stone, timber, aud other materials for the con-
slruction thereof; said right OF way is granted
feet in width on each side of said railroad
where it may pass over the public lands, in-
Guiding oil necessary grounds for stations,
buildings, workshops and depots, machine
shops, switches, side tracks turn tables and
water stations. The United States shall
extnguish as rapidly as may be the Indian titles
to all lands falling under the operation of this
act and required for ,le said ii ,hl vi way aod
grants hereinafter made.
d.nsgI L.. = ! ml.ua sLaua
he and is hereby granted to the said company,
for the purpose OF aiding in the construction of
said railroad and telegraph line, and to secure
the safe aud speedy transportation of the mails,
troops, munitions Of war and public stores there
on, every alternate section of public land, desig-
mated by odd numbers, to the number of FIVE
alternate sections per mile on each side of said
railroad, on the line thereof md within the limits
of ten miles on each side of said road, not sold,
reserved or otherwise disposed OF by the United
States and to which pre- empton or homestead
claim may not have attached at the time the line
of said road is de6uitvely fixed, Provided, That
all mineral lands shall be excepted from the
operation of this act but where the same shall
contain timber, the timber thereon is hereby
granted to said company. And all such lands
so granted by this section, which shall not be
sold or disposed of by said company, within
three years after the entire road shall have been
completed, shall be subject to settlement and
presumption, like other lands, at q price not
exceeding one dollar and twenty-five cents per
acre, TO be paid to said company.
Sec. A. And be il FURTHER enacted, That when-
ever said company shall have completed forty
consecutive miles of any portion Of said railroad
and telegraph line, ready for the service contem-
plated by this ACT, and supplied with all neoes-
sary drains, culyerts, vaducts, crossings, sidings
bridges, turnouts watering places, depots, equip;
ments, furniture, and all other appurtenances of
a first class railroad, the rails aud all the other
iron used in the construction and equipment Of
said road TO he American manufactured of the
best quality, the President of the United States
shall appoint three commissioners TO examine
the same aud report TO him in relation thereto
and it il shall appeur TO him that forty ConBeou-
tive miles Of said railroad mud telegraph line have
been completed and equipped in all respects ~
required by this not then, upon certificate OF sud
commissioners 10 that effect, patents shall issue
conveying the right aud title 10 said lands 10 said
company on each sdn of the road rs far as the
snlue is completed 10 the amount aforesaid aud
the patents shall iu like mauner Issue as each
forty miles uf said railroad aud telegraph liue
arc completed, upon certificate Of said commits
ai0ners Auy vacancies occurring ID snid board
of commissioners by death, resignation, or other
wise, shull he filled by the President Of the Uni
ted States; iyoVidea, howeOer, That no suol
commissioners shall DO appointed by the Prcsi-
don't of the United States unless there shall DO
presented to him statement, verified gu oath by
the President Of said company, that such forty
miles have been completed, in the manner re-
qured by this uct, aud setting forth with GER
tanty the points where such forty miles begin
and where the same end which oath shall be
taken before judge Of court of record.
See. s. 4na be IL further enacted, That for the
purposes herein mentioned tie Secretary of the
Treasury shall, upon the certificate in writing Of
said commissioners Of the completion and equip
ment of forty consecutive miles Of said railroad
and telegraph, in accordance with the provisions
of this act, issue to said company bonds Of the
United States of one thousand dollars each, pay
able in thirty days after date, bearing six per
centum per annum interest, (said interest paya-
BILE semi-annually.) which interest may be paid
in United States Treasury notes, or any other
money or currency which the United States have
or shall declare lawful money and legal tender,
to the amount of sixteen Of said bonds per mile
for such section of forty miles; and to secure
the repayment to the United States as hereinafter
provided, of the amount of said bonds so issued
and delivered to said company, together with all
interest thereon which shall have been paid by
the United States, the issue Of said bonds and
delivery to the company shall ipso facto const
tute q first mortgage on the whole line of the
railroad and telegraph, together with the rolling
stock, fixtures and property of every kind and
description, and 10 consideration Of which said
bonds may be issued and on the refusal or fail
ure Of said company to redeem said bonds, or
any part of them, when required 80 to do by the
Secretary of the Treasury, in accordance with
the provisions Of this act the said road with all
the rights functions, immunities and appurte-
nances thereunto belonging, and also all lands
granted to the said company by the United
States, which, at the time Of said default, shall
remain in the ownership Of the said company,
may be taken possession Of by the Secretary Of
Treasury, for the use and benefit of the United
States Provided This section shall not apply to
that part of any road now constructed.
Sec G. And be il further eidctsd, That the
grants aforesaid are made upon condition that
said company shall pay said bonds at maturity,
and shall keep said railroad and telegraph line in
repair and use, and shall at all times transmit
dispatches over said telegraph line, and trans-
port mails, troops and munitions of war, supplies
and public stores upon said railroad for the
Government, whenever required to do 80 by any
Department thereof, and that the Government
shall at all times have the preference in the use
of the same for all the purposes aforesaid lat
fair and reasonable rates of compensation, not
to exceed the amounts paid by private parties
for the same kind of service) and all compen-
saiion for services rendered for the Government
shall be applied to the payment Of said bonds
and interest until the whole amount is fully paid
Said company may also pay the United States,
wholly or in the same or other bonds, Treasury
notes or other evidences of dobt against the
United States, to be allowed at par; aud after
the said road is completed, until said bonds and
interest are paid, at least five per centum of the
net earnings OF said road shall also be annually
applied to the payment thereof.
Sec. Z. And Be il further enacted, That said
company shall file then assent to this act, under
the seal Of said company iu the Department OF
the Interior, within one year after the passage Of
this uct (; aud shall complete said railroad and