The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1864-05-05

provided by him for that purpose of the NUNS
Der date and amount of such bond or bonds, and
also of the date and amount of each of the notes
and real estate mortgages accompanying such
bond or bonde, and the name or names of the
makers thereof
| Sec. a. The state treasurer shall annually, on
the LIST day of February,ln each year,make cor
rect apportionment of the whole of the said sink.
| ing fund then in his hands among such of the
said railroad bonds as have been so presented to
him and so entered by him in a book, as direct
ed and require ed ny section three of this act pro
rata, according to the amount of each, and pay
to the holders thereof, at the office of the said
state treasurer, the amount SO apportoned to each
| respectively, and shall endorse the amount so
paid upon each of the said bonds and upon each
| of the said notes so accompanying such bonds
| and the said bonds and notes shall bear annual
interest from the first day of January 1865 at the
rate of seven per cent per annum; and the state
| treasurer shall make an annual distribution OF
| the said Sinking fund among the holders of
| the said bonds, notes and mortgages until the
whole amount of said bonds, including interest
and principal, is fully paid, at which time he
shall cancel said bonds and execute to the MAJ
ker or makers of such note and mortgage GER
tlhcate that such mortgage ID paid and satisfied.
Sec. 5. The register of deeds of any county
wherein any of the lands so mortgaged to the
said railroad company are situated, upon pres
entation to him at his Office of such certificate OF
the state treasurer, shall cancel such mortgage
of record.
Sec. 6. If any such company, companies, or
gaDization or organizations, by whatever name
the same may be known, receiver. manager, SUI
perintendent, person or persons, described IN the
first section of this act, shall refuse of neglect to
make the payment to the state treasurer for the
creation of the said Sinking fund, for the space
of thirty days after the first day of January, in
any year as required by the said first section OF
| this act it shall be the duty of the governor of
this state, and he is hereby required TO appoint
| a receiver for such delinquent portion OF said
railroad who shall execute bond to the people
of this state, in such penal sum as the governor
shall direct, with such sureties as he shall APP
prove. conditioned for the faithful performance
of the duties of such receiver, and who shall be
| authorized and required to take immediate pos
session of said railroad or the delinquent portion
thereof aforesaid, its rolling stock, depots
Offices machine shops. and all its property ne>
cessary to and connected with its operations, and
to operate the said railroad, or delinquent por
ton thereof, and out of its earnings to make the
contribution to the said ''sinking fund" required
by the first section of this act, and the surplus
after paying the current expenses of operating
and necessary repairs of the said road, or such
portion thereof, and its rolling stock, he shall
pay over to the owner or owners OF such roao or
portion thereof, or to the person or persons aus
thorized to receive it for the time being and he
shall continue in the possession and occupancy
of the said railroad, delinquent portion there
of, until the said bonds and notes are fully paid,
or until the owner or owners or operators of the
said railroad portien thereof, shall comply with
the provisions OF this act.
Sec T. After the full payment of the said
bonds and the discharging of said notes and
mortgages, as provided in this act, the annual
contributions to the ''sinking fund" shall cease
and if any surplus of said fund shall remain in
the hands of The state treasurer, he shall pay the
same over to the respective owners of said rail-
road or to those authorized for the time being,
to receive it and if the said railroad shall at that
time be in possession of receiver, appointed
under the provisions of this act, such receiver
shall be discharged, and the possession of the
railroad, its rolling stock, fixtures, and other
property delivered TO the person or parties right
fully entitled to the same.
Sec. g. This act shall take effect and be in
force from and after its passage.
Approved March 80, 1864.