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

to be Incorporated. shall have the right to connect
their road with the road and branches provided for
by this act at such places and upon such just and
equitable terms as the President of the United
States may prescribe. Wherever the word COM /
pany is used in this act it shall be construed to en-
brace the words their associates successors and as
signs. the same as if the words had been properly
added thereto. i
SEC 16 And be ii further enacted, That at any
time after the passage of this act all OF the railroad
compani es named herein, and asserting hereto, or
any two or more of them, are authorized to form
themselves into one consolidated company; notice
of such consolidation, in writing, shall be filed in
the De partment of the Interior, and such CONSOLE
dated company shall thereafter proceed to construct
said railroad and branches and telegraph line upon
the terms and conditions provided in this act.
SEC. II. Ind be further enacted That in case said
COMPANY or companies shall fail to comply with
the terms and conditions. of this act by not COM
plotting said road and telegraph and branches with
in reasonable time, or by not keeping the same
in repair and use, but shall permit the same for an
unreasonable time, to remain unfinished out of
repair, and unfit for use, Congress may pass any
act to insure the speedy compilation of said road
and branches, or put the same in repair and use,
and may direct the income of said railroad and tel
egraph line to be thereafter devoted to the use of
the United States, to repay all such expenditures
caused by the default and neglect of such company
or companies Prorided, That if said roads are not
completed, so to form continuous line of rail-
road ready for use, from the Missouri river to the
navgable waters of the Sacramento river, in Cali
forna, by the first day of July, eighteen hundred
and seventy-six, the whole of all said railroads be-
fore mentioned and to be constructed under the pro-
visions of this act, together with all their furniture
fixtures, rolling stock, machine shops, lands tene-
ments and hcred itaments, and property of every
kind and character, shall be forfeited to and be
ken possession of by the United States Prorided,
That of the bonds of the United States in this act
provided to be delivered for any and all parts of the
roads to be constructed east of the one hundredth
meridian of west longitude from Greenwich, and
for any part of the road west of the west foot of the
Sierra Nevada mountain, there shall be reserved of
each part and installment twenty-five per centum
/ to be and remain in the United States Treasury
undelivcred, until said road and all parts thereof
provided for in this act entirely completed and
of all the bonds provided to be delivered for the said
road, between the two points aforesaid there shall
be reserved out of each instalment fifteen per cen-
| tum, to be and remain in the Treasury until the
whole of the road provided for in this act is fully
completed and if the said road, any part there
| of, shall fail of completion at the time limited
therefor in this act then and in that case the said
part of said bonds reserved shall be forfeited to
the United States. =
Size. 49, And be it further enacted, That whenever
ii appears that the net earnings of the entire road
and telegraph, including the amount allowed for
services rendered for the United States after de-
Quoting all expenditures including repairs and the
furnishing, running, and managing of said road
shall exceed ten per centum upon its cost, exclusive
| of the five per centum to be paid to the United
States, Congress may reduce the rates ofare there
on if unreasonable in amount, and may fix and es-
tablish the same by law. And the better to ac-
complish the object of this act, namely TO promote
the public interest and welfare by the construction
of said railroad and telegraph line and keeping the
| same in working order, and to secure TO the Coy
eminent at all times Out particularly in time of
war) the use and benefits of the same for postal,
military, and other purposes Congress may, at any
time, having due regard for the rights of said COM
panies named herein, add to, alter, amend, OF re-
| peal this act. r.
SEC. 49, And be it further enacted, That the sever
al railroad companies herein named authorized
to enter into an arrangement with the Pacific Tel
| egraph Company, the Overland Telegraph Company
and the California State Telegraph Company so
that the present line of telegraph between the Mis-
| souri, river and San Francisco may be moved upon
or along the line of said railroad and branches as
fast said roads and branches are built; and if
said arrangement be entered into and the transfer
of said telegraph line be made in accordance there
with to the line of said railroad and branches, such
transfer SHALL for all purposes of this act be held
and considered fulflment the part of said rail-
road companies of the provisions of this act in re-
gard to the construction of said line of telegraph
And, in case of disagreement, said telegraph COM
panies authorized to their line of telc-
graph along and upon the line of railroad herein
contemplated without prejudice to the rights of
said railroad companies named herein. "a,
Sec 30 Ind be Il further enacted, That The corpo-
ration hereby created and the roads connected
| Herewith, under the provisions of this act shall
make to the Secretary of the Treasury an annual
/ report wherein shall be set forth
First. The names of the stockholders and their
places of residence, so far as the same be
tanned; 1896 ..5E
Second. The names and residences of the direc-
tors, and all other officers of the company;
Third. The amount of stock subscribed, and the
amount thereof actually paid in
Fourth. A description of the lines of road sur
veyed, of the lines thereof fixed upon for the con-
structon of the road and the cost of such surveys
Fifth. The amount received from passeng gers on
the road;
Sixth. The amount received for freight thereon
Seventh A statement of the expenses of said
road and its fixtures;
Eli ghth. statement of the indebtness of said
company, setting forth the various kinds thereof
Which report shall be to by the president Of
the said company, and shall be presented. TO the
Secretary of the Treasury or before the first day
of July in each year.
Approved, July L, 1862.