Delaware State journal and statesman., 1865-02-07

MEMS 1OUTH 8 OF bQ1b ONEkUOhTSss
Tower HALL, No. 5lS Market Street,
BENNETT & Co.
--------sss~~---
JUNCTION AND BREAKwATER RAIL.
RoAD.-The Act to Aid the Junction and
Breakwater Railroad Company, in the
completion of their road, and for other
purposes, has passed the House of Rep.
resentatiyes, and will no donbt become a
law. The vote stood, yeas IL, nays 81
the New Castle County Representatives
and one from Kent. We give the bill
below as amended, and in the form in
which it will be presented to the Senate
for concurrence -
WHEREAS whatever opens communica-
tion between different parts OF o State,
develops its resources and whatever rem
ders more easy and expeditions the send
ing of the products of its soil to market,
adds to its wealth and power: And
whereas railroads are now proved, beyond
a reasonable doubt, to be the best means
of intercommunication and also the most
convenient and rapid mode for the trans
portation to the place of sale Of fruits,
grain, lumber, and all other products of
tue soil or of mechanical skill as well as
the implements of husbnndry Therefore
such improvements best develop States
resources, and add to her wealth and
power. They are consequently entitled
to her favor.
And whereas the Legislature Of a State
is the only body under its Constitution
which can aid in the construction of rail-
roads or other works of public improve
ment by means of the public money, or
through the instrumentality of the public
credit and such aid is now sought OF this
Legislature by the Junction and Break
water Railroad Company to enable 1t to
complete its improvement from Milford to
the Breakwater Harbor at Lewes which
application therefor is sustained by numer-
Gus petitioners, and challenges the favor
of this General Assembly.
And whereas this General Assembly
believe that the public interest will be
promoted by assisting the aforesaid Rail
road Company, and that such aid may be
rendered without impairing the credit oi
the State, or in any sense weakening her
just powers of self support
Therefore
Be ii enacted by the Senate and House
Of Representatives of the State Of Delaware
IN General Assembly met, as touoi0s:
SECTION l. That when 1000 shares are
subscribed by bona Jide subscription and
one half subscription paid in to the Treas
urer of the Company the State Treasurer
be and he is hereby directed to subscribe
on the books of the Junction and Break
water Railroad Company for sixteen
thousand shares of the capital stock OF
said company at the price of twenty-five
dollars per share---which capital stock is
hereby increased for that purpose--and
that he pay for the same by the delivery
to the said Company, or its Authorized
officer or agent, of five hundred bonds oi
this State of the denomination of one
Thousand dollars each according to the
following form -
INTERNAL IMPROVEMENT BOND.
UNITED STATES OF AMERICA
(NO, , $4,000
STATE OF DELAWARE.
These presents certify and make known
that the State of Delaware is held and
firmly bound unto the bearer in the sum
Of One Thousand Dollars, lawful money
Of the United States of America which
she binds herself to pay to the bearer on
or before the first day of January A. d.
1895 with interest at the rate of six per
centum, payable at the Phiad. National
Bank, Philad. on the first day of January
and July until the principal be paid.
Dated at Dover the first day of July
1865.
C@-) Witness the Greet Seal of the
SEAL said State and the hands of the
~ Governor, Secretary of State
aud State Treasurer.
Governor.
.Secrefa,y 9 Of State.
State Treasurer.
The said bonds shall be numbered from
one to four hundred in proper order, and
shall have coupons attached for the pay.
ment of interest numbered to correspond
with the bonds and signed by the State
Treasurer. The said bonds shall be
signed by the Governor, Secretary of
State and the State Treasurer, and have
Great Seal affixed. The!public faith is
hereby s,lemnly pledged for the punctual
payment of the interest and principal of
said bonds. Before the said bonds shall
be delivered by the State Treasurer, the
said Company shall place in his hands,
for the us, of the State, certificate in
due form that the State is entitled TO the
aforesaid number of shares of the stock of
said Company.
SECTION 2. The State Treasurer be
and he hereby is authorized and directed
10 cause to be made and signed by the
Governor, Secretary of State and himself
as Treasurer, one hundred other bonds of
the State according to the denomination
and form of the bonds hereinbefore pro-
vided for, the interest to be payable on
the first day of January and July in each
year-the first instalment Of interest to
fall due on the first day of January A. d.
ls66--and to be numbered in continue
tion of the bonds aforesaid, and have
numbered coupons, signed by him, at
tached. The said bonds shall be made
payable on or before the first day Of July
a. d. 1895. The state Treasurer shall
sell the said bonds for the best price that
can be obtained for them not less than
par, at or about the first day of July next,
or sooner, if the par of their face value
can be obtained for them and shall. invest