New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-02-28
DcrraagO

The Legislature of Minnesota, after great delay
has under discussion the payment OF its bonds lSsed
for railway purposes. and proposes tho following ol'
BILL for an act provide sinking fund for the adjustment Of tho
r. S;st S1S.s.d 1y NJ TSgisdisr, oCac STAT Crrsod
SECTION l. All lands which have enred or snah enuto
gress OF the United statos approved September lS
entitled to appropriate the proceeds OF Saes O
PToSoeds thereof together With al which shall
be paid into tho treasury after tne p e of axe shall
be held and set apart as separate iana Mno rnh 10
SEC a. The said landss shall BIO selected, APPRAISED soiu
leased conveyed and held and in every respect mnagcu
and controlled IN tho same ands o1 1I to the Com
mon school Fund OF tins state are or may rySsyeG
directed be selected appraised s0d leased conFe3cu
held managed and controlled ,,, ,,,,
SEC g. Whenever said Sinking Fund shall have accim9,
lated the sum oS20 but not Otencr than once IN cacn
wear the state Treasurer shall insert notice IN some
daily newspaper published at the capital OF the STATE anu
iao ~ the Sad Minnesota state Railroad bonds 10
submit appointed time, to the SAID IIetsuTe Pf
pOsas for the surrender OF amount or amounts or su
bonds in exchange for the money then IN said sinking
Fund copy OF said notice shall be mailed 70 le aHicss
Of each person having an interest III such poh 80 i ~
the names and address OF suck persons can be ascerned
Upon receiving such proposals they shall DO openeo a
examined by the Governor, Auditor and IIasIer VINO
shah decide which OF said proposals are most
Ous and shall taereugon direct e aTmop OF The
money any part OF 1T, belonging 70 saa nsng n11o
TO the person whose proposals shall have been deoded 70
,be the most advantageous upon compliance by such per
son or with their said proposals Said bonds
4 E0.
forthwith Cancelled Such officers may reject such pro
pOsas may direct the TreaSuTor 70 advertise ior now
SIC q This act shall be submitted for approval
lection 70 the electors OF the state az tne HeAt genera
election in the following Each elcct0r may vote
a prnted OF written ballot, inscribed-AppncatlOn OF
Lands granted 10y Congress for Internal improvements
for the adjustment OF the state Railroad BOdSt yes
or the same "NO" The ballots cast shall be canvtscd
and returned in the manner as the votes cast t0i
state officers such election. IF majority OF the votes
at such election. on the subject shall DO Yes then
this act a take effect and be in fOIco from and after
January l. 1863 II majority OF said votes shall be NO.
this shall be null and void except IN respect 70 tho
provisions for the submission thereof, when 5hd DO IN
| force from and after the passage OF tins act
The sooner this bill IS amended, as TO declare
that the State will pledge not only their bonds, but
specific tax for the redemption Of the honor Of tho
State, the better. That community is now 80 rich.
and has future 80 promising that it cannot afford
to embarrass its progress by anything that looks like
partial reputation, such is contained i'll this bill
when il proposes to buy its bonds OF those who take
the lowest view of Tho good faith of the State. Any
present sacrifice VIII be small which will enablo
the State TO promptly pay its annual interest and
provide sinking fund within reasonable time and
cancel its obligations, which are not onorous when
cOntrasted with the wealth and prosperity Of tho
State.
FIRST MORTGAGE BONDS or THE CENTRAL PACIFIC
RAILROAD CoMPANYntcrcst at the rate OF sx per cont
per annum IN GOLD. payable in the CITY of Now.York
For full particulars apply TO or address
FISK g. HATCH.
Bankers aud Dealers in Government Securities.
No. 3 Nassau.st N. Y.