The daily Evansville journal. (Evansville, Ind.) 1862-1863, 1862-09-02

of stock in the said company, except the two di-
rectors to be appointed by the President afore-
the stockholders called for that purpose, shall |
have power to make bylaws, rules, and regua- |
lions as they may deem needful and proper, touch
ing the disposition OF the stock, property, es-
tate, and effects of the company, not inconsistent
herewith the transfer os shares, the term of Of
fee, duties, and conduct IF their off ers and SER
wants, and all matters whatsoever which may APP
pertain to the concerns of said company: and the
said board of directors shall have power to appoint
such engineers, agents, and subordinates may
from time to time be necessary to carry into effect
the object of this act and to do all other acts and
things touching the 10 alton and construction OF
said road and telegraph. Said directors may re-
quire payment of subscriptions to the capital
stock after due notice, at such times and in such
proportions as they shall deem necessary to COM
plete railroad and telegraph within the time
in this act prescribed Said president, vice prcsi-
dent, and directors shall hold their Office fer three
years, and until their successors are duly elected
and qualified, for such less time the bylaws
of the corporation may prescribe; and majority
of said directors shall constitute quorum for the
transaction of business The secretary and treas
shall give such bonds, with such security, as
the said board shall from time to time require, and
shall hold their offices at the will and pleasure of
the directors. Annual meetings of the stockhold-
of the said corporation, for the choice of officers
when they are chosen AID for the transaction of
business, snail he IOl1S2 at such time and place
ana snon such notice as may he prescribed in the
bylaws.
SEC. p And be il further enacted, That the right Of
way through the public lands be and the same is
hereby granted to said company for the construc-
ton of said railroad and telegraph line; and the
right, power and authority is hereby given to said
company to take from the public lands adjacent to
the line of said road carth stone, timber, and 9TH
| er materials for the construction thereof; said
right of way is granted TO said railroad to the
| tent of two hundred feet in widt on each side of
/ said railroad where it may pass over the pub
lie lands, including all necessary grounds for sta
tions, buildings, workshops, and depots, machine
shops, switches, side tracks, turntables, and wa
| ter stations. The United States shall extinguish
as rapidly may be the Indian titals to all lands
falling under the operation of this act and required
| for the said right of way and grants hereinafter
made. j
SIC. 3. And be il further enacted, That there
| be 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 and speedy transportation of the mails troops
| munitions of war, and public stores thereon every
| alternate sect ion of public land, designated by
odd numbers, to the amount of five alternate Sec
tons per mile on each side of said railroad, on the
line thereof, and within the limits Of ten miles on
each side of said road not sold, reserved, other
wise disposed of by the United States, and to which
| a presumption homestead claim may not have
attached; ct the time the line of sail road is def
| nitely fixed: PrOgided, That all mineral lands
shall be excepted from the operation of this act ;
| but where the same shall contain timber, the tins
Der thereon is hereby granted to said company
| And all such lands, granted by this section,
which shall not be sold disposed of by said COM
pany within three years after tho entire road shall
have been completed shall be subject to settlement
and presumption, like other lands at price not
| exceediug one dollar aud twenty cents per
| acre, to be paid to said company.
| SEC l. And be IL further eltIcted, That whenever
said company shall have completed forty consecu
tive miles of any portion of said railroad and tele-
| graph line ready for the service contemplated by
this act, and supplied with all necessary drains-
crossings, sidings, bridges, turnouts, watering pa-
| ces depots, equipments, furniture, and all other
appurtenances of rst-class railroad, the rails and
| all the other iron used in the construction and
| equipment of said road to be American manuiac-
ture of the best quality the President o. the Unit
ted States shall appoint three commissioners to ex
| anime the same and report to him in relation
| thereto aud if it shall appear to him that forty
| consecutive miles of said railroad and telegraph
line have been completed and equipped in all re :
| spects as required by this act, then, upon
certificate of said commissioners to that effect pat
cnts shall issue conveying the right and title to
aid lands TO said company on each side oft the road
| as far as the same is completed, to the amount
aforesaid; and patents shall in like manner issue
as each forty miles of said railroad and telegraph
| line are completed, upon certificate OF SAID COM
| mssioners Any vacancies occurring in said board
of commissioners by death, resignation, or other
wise shall be filled by the President OF the United
States Prorided holeeuer, That no such commits
sioners shall be appointed by the President OF the
United States unless there shall be presented to
him statement, verified on oath by the President
| of said company, that such forty miles have been
| completed. in the manner requiered by this act,
and setting forth with certainty the points where
such forty miles begi n and where e same end
| which oath shall be taken before Judge OF
court of record.
SEC. 5. And be it further enacted, That for the
purposes herein mentioned the Secretary OF the
Treasury shall, upon the certificate IN writing OF
| sa id 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
limited States of one thousand dollars each, paya-
BILE in thirty years after date, bearing six per CEN
tum interest (sad interest payable semi-annually,)
which interest may be paid in United States Treas
mr. ar other money currency which
the United States have shall declare lawful mon
ey and legal tender, to the amount of sixteen OF
said bonds per mile for such section of forty miles
and to secure the payment to the United Ttates
as hereinafter provided, of the amount of said
bonds so issued and delivered to said company to-
getler 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
constitute first mortgage on the whole line OF the
| railroad and telegraph, together with tie rolling
stock fixtures and property of every kind and de-
scrption and in consideration of which said bonds
may be issued and the refusal or failure of said
| company to redeem said bonds, or any part o.
| them when required to do by the Secretary o.
| the Treasury in accordance with the provisions OF
this act the said road, with all the rights, func-
| tions, immunities, and appurtenances thereuntc
belonging, and also all lands granted to the COM
| many by tho 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 the Treasury, for the use and benefit
| of the United States Pforidsd, This section shall
| not apply to that part Of any road now con-
| structed.
Szn. 6. And be It further enacted, That the grants
| aforesaid are made upon condition that said COM
| pany 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 transport mails, troops,
and munitions of war, supplies and public stores up
on said railroad for the Government, whenever re-
quired to do by any department thereof, and that
ths Government shall ut all times have the prefer
| encc in the use of the same for all the purposes
aforesaid lat fair and reasonable rates of compen
| satlon not to exceed the amounts pad by private
parties for the kind of service j and all COM
| pensation for services rendered for the Govern
nent 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 in part in the other bonds, Treas
| ury notes. other evidences of debt against the
United States, to be allowed at par and after said
road IS completed, antn s~ia he@A, :rd ipterasi
are pad at least five per centum of the net earn
fnes of said road shall also be annually applied tC
the payment thereof
| SEc-7 And be IL further enacted, That said com
ranv shall Gle their assent to this act under tn,
seal of said company, in the Department OF the In
terior within year after the passage OF this act
and shall complete said railroad and telegraph from
the point of beginning, as herein provided 10 TN
western boundary of Nevada Territory before tn
| first day of July, thousand eight hundred an'
| seventy four: PrOgided, That within two year
after the passage of this act said company shall DIES
| irnate the generol route of said road, as near n
| NAV be, and shall file map of the same in the DE
| partnent of the Interior, whereupon the Secretar
OF the Interior shall cause the lands within fftecr
miles Of said designated route routes to be with
| drawn from presumption, private entry, and sale
| and when any portion of said route shall be mail
located the Secretary of the Interior shall cause tn
| lands hereinbofore granted to be surveyed and SC