The sun. [volume] (New York [N.Y.]) 1833-1916, 1862-06-27

enUtle the holder 70 one vote. TSe dudes Of the
4 Cotnrnsssionsrs shall then csase and m~ge In The
| Directors and Sha<ehsfders. Two directors shall
be nominated by the President, who may not be
Shareholder; but the other Directors mast each
hold not lees than FIVE shares. The Directors 10
elect President and yce.President, The whole %
continue In power for three yeara, and make al
ncedfii byslaws and regulations 70 carry out The
, yrovisions O. the act
SEE. lTrsn,' nsta.. .; Wv for the rsrqAd Of 100
feet wide, over all the public isnds, with power "
erect machine shoPs' depotA &C., On The Adio "her
SCI. grants every alternate section Of land
within ten miles on each side Of the road. with the
beeu pre-smricd. The lands granted under this
section which shall nat have been sold when the
rosI shall haze bern completed. IL 70 be sold a
~ 20 Per acre 10 settlers.
Sees 4 and o provide that on the completion, n
the satisfaction u the President, Of every 10 miles
Of railroad. with american iron, the aforesaid alter.
nate sections Of land shall he conveyed 70 the Conn
year, TO the amount Of $4,000 per mile for each
section Of 40 miles, until the whole shall BE- oon-
pleied. The road 70 remain lien for the repay.
mont of these bonds 30 years after date.
Sec. requires the road 10 carry y. 4. mails
troops, munitions, &C., the compensation ~ be sp-
piled 10 the repayment OF The bonds
Sec. directs that tho Company shall file their
sssent to this act within one year and agree 70
complete the road before July, lisa within two
years maps 81 the route shall lie filed In the Depart
Inent Of tie Interior, whereuIpn the lapds within
hneen miles Of Tie road shall 10 Withdrawn from
sale.
See. relntes 70 . telegraph line along the route
Sec. authorizes the Lcavenworth. Pawnee and
Western Railroad Company. Of Kansas, 70 con.
struct railroad and telegraph line from the Mis-
souri river. at tho mouth Il the Kansas to connect
with the Pacific Railroad limo In Missouri, In such
manner ms 10 enable tho several railroads In
Iowa and Missouri b. connect with u. The Central
Pacific Railroad Company, 81 California, Is like
wise authorized 10 build . line from San Francisco
h. tie eastern boundary Of the State, Y, connect
with the Pacific Railroad.
Sec. 10 enables the Kansas and California Com.
pahies ~ unite with the Pacific Railroad Company
when certain portion u the respective branch
lines shall have been completed, and the branch
clhc road.
SEC II grants three times the amount Of bonds
and double the quantity Of land per Iiie for the
construction Of 200 miles of road through tho mos,
mountainous country, the bonds and land " he set
apart ON the completion u every 20 miles % rad
insead o, ~, as ON the other parts Of the road.
ton .hn pr d." . ~ .. ~. rle.sdsn aud es,sb
llshe- . UNIFORM grade on the main AMI branch
lines on the standard Of the Baltimore and Ohio
Railroad.
See. IL grants the Hannibal and 81. Joseph's
Railroad Company bonds aud lands for the con.
sruc,ion 81 hot over 100 miles Of road 10 connect
lstween ST. Joseph aud the Pacific line Of road.
Whenever 9 line Of road shall Ice built through
Minnesota or Iowa H. Sioux city, the Union
ractc Company IL required g. build a railroad and
telegraph 10 Connect Will solx city and the branch
lie luit under tie terms provided la tie Aforesaid
cases.
Sec. 10 enables any railroad company 10 eonnec,
le.rro with the Pacific line.
Sc. i6 permits all the railroad companies mes.
toned 10 consolidate, to carry out the provis .ons
Of this act.
See. II gives Congress jurisdiction T. provide
fr the speedy completion OF the road, AMI pro-
yid,s FOR its being kept IN order. II the road Is
not completed IA July. 1870, IL shall he for.
tci,cd 70 the United States. In order 10
secure more e.fectualiy the ultimate com
pleton Of the roai IS per cent and to
a limited section, ~ per cent q the bonds shall
remain unpaid until the whole road shall be com
pet.d In good order
SEC. l. provides for the reduction of the fare by
Congress when tie dividcnds Of the Company
shall exceed 10 per cent.
See 10 gives persons In Possession 81 govern ment
lands in Nevada required for the railroad, the right
g. purchase the same from the company at the go
vernment price for adjoining lands.
The r,msining sections re ate 10 the transfer Of
the existing telegraph company's lines 10 the Pa
elf route, aud provide for the publication Of the
counts ami reports Of the company, with annual
statements Of expenses and receipts