The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1867-04-12
A BILL

70. 7-laf a DILL fa G-s- t.t d
To sec1rre The specify construction of tie On
ion Poetic .RGiLroad (southsrn branch }
and telegraph line, and to secure to tie
Goperhment tie use of he same for pos
tai. military and other purposes q 'a'
Be It rnuctsd blythe Se5Gte and Hoas.
Of Representative IF fhe United 1Ssotss
of America il CoRgess assembled. That
tor the purpose OF securing tie construc
ton of the Union Pacific railway south.
ern branch and telegraph, aud its fun
EeoInpleuon Al the earliest practicable time,
IRE Secretary OF the Treasury OF ths
United States is hereby authorized and
objected, whenever and as often as the
commissioners appointed by the Presi.
deBt a. prUvidtd By Law shall report Iat
eompieIiOu of twenty Or more consecu
live miles of said road. 10 pledge the
credit of The Upited States, ia such form
as the Secretary of the Treasury shall
prescribe, TO the payment of the Interest
on the bonds OF said company, Of one
Thousand dollars each, from the date OF
Issue Of the same, and for, period not
s4ceedlng twenty years from the. date OF
SAID Issue, At be rats Of SIX per centum
per annum, payable semi aunuslly on the
hrst days OF July aud January 10 each
and every year! iusIhe legal eurre6cy OF
The United Slates, 81 the treasury of Ghs
United States or any Of its depositories.
TO the fJlloWing extent, that is to say;
Sixteen of said bonds per mile for that
portion of said road which is embraced
between Its northern point of commences
ment, wherever the same shall be located
at or near. Fort Rilsy, Kansas. TO. its
southern terminus, a. or near Fort Smith.
Arkansas, via the valleys u The Nsosho,
Grand and Arkansas rivers. not exceeding
Ihres7hundrsd and seventy five miles, aud
also on it's extension north from a point
al or near Fort Riley. via the valley of
the Republican river. to It's junction with
the Central B anch Union Pacific rail
road, a distance OF seventy Ave miles,
aud IN casa he Union Pacific Rail WaV
Southern Branch Company construct and
complete it's railway TO it's proposed juno
lion with the Central Branch Union Pa
ci6c railroad, befors said railroad compa-
ny reaches that point. in accordance with
the ssVesah aOts of Congress providing for
the construction of said railroad. knowu
IS the Pacific railroad acts. then, and in
that case, The Union Pacific Railroad
Southern Branch Company shall be au
IhoTiZsd to extend and construct its line
OF railway To junction with the y aion
Pacific railroad al or near Fort Kearuey,
Nebraska, a distance of one hundred aud
twenty Eve miles. and the Secretary Of
the Treasury of the United States is
hereby authorized and directed to pledge
the credit of the Unted States 10 the pay
mept Of The interest on the bonds of said
company for said extension, to the same
amount and extent, subject to all the con
dinons as IL provided for on said railway
from Fort Riley south. sslJ hssa sci
SEQ. g. And be it further enacted, That
for the purpose of relieving The treasury
of the United States, at the earliest prac
ticable time, from the payment of inter
est on said bonds, 1t is hereby further
enacted that the treasurer of the Union
Pacific Railway Sou lhern Branch Com
pany shall, on the first days of July and
January in each aud every year, after
the completion Of said railway in con
formity with thu provisions of it's char
ter, pay into the treasury of the United
States twenty five per cenrum of the
gross earnings of said railway for the
payment of the interest on said bonds as
herein provided, until the amount so paid
shall equal the amount paid by the Uui
ted States, provided 10 section fret, af
ter which all further payments TO the Uni
ted States shall cease; aud. to secure the
payment of eaid per centags of the gross
receipts, the Secretary of the Treasury Of
the United States, whenever in his iudg
ment it shall be necessary for the safety
of the government to do 60, is hereby
empowered to appoint an inspector, who
shall havs authority to examine the books
and accounts of the company, and to di-
rect the application of the said per cent.
age of the gro receipts as aforesaid.
SEC 3. find be IT, urtder provided. That
said company shall be authorized to lee
sue sixteen Of their FIRST mortgage bonds
of one thousand dollars each per mile,
secured by mortgage legally executed
and recorded upon their entire line Of
road add its figures. Add the bonds
upon which the interest is guaranteed by
the United States. as provided by the Grst
section of this act shall be subordinate
10 the frst mortgage bonds provided for
in this act.
SEC 4 -And be Il further enacted, That
this act shall be in force aud take effect
from and alter its passage.