The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1868-07-16
eaANn o. RAlLnoAp.

| Syuopsis of a BIZ uO,o penaia9 before
Coagyss tareidtioa TO tAe said, Road;
Section J provides for guarantee BY
the I'd Estates ottho bonds Of the Com
psuy q 81 amount not exceeding fifteen
millioas q dollsrs upon the execution
and rseotlaliOn Of Deed of Trust, upon
the whole road from Richmond to the
Ohio River Three millions to be guar
anteed i soon as tho deeds executed
and recorded. One million more. as
soon as hat portion oflbe road between
Covingl and tho White Sulphur
Springs completed and equipped fOr
use, WHEELER BY permanent or Temporal
~ slEg sag places Whefe tunnels
crhigBahd expelsiVS embonkmsn1 are
teq5Fed. Aud afterwards or before, as
any portion or section Of said road Of
twenty Consecutive miles is thus COM
Pleted and equipped for use an additional
guaranty of one million, until the whole
road is completed. or until the maximum
quantity of fifteen millions is thus sx-
houstsd.
Section 2 provides that after the FIRST
guaranty Of three millions no additional
guarantee shall be given until three Com.
missiOuers to be appointed by the Presi
dent Of the United States shall have ex-
aminei each section of tha road, for
which such guaranty is asked, and eerti-
fed upon, oath, that it is constructed,
completed and equipped ior use, in the
mode Ptesctibed by the act. 1t further
provides thai 10 case Of defsulL by the
Company 10 the payment OF either the
principle or interest Of its bonds thus
guaranteed or any part thereof the ttus'
tees shall sell the whole road. or so much
thereof as may be necessary 10 make
good such deficiency OF default and in
that event, that the SECRETARY Of no Ttea
Sury at his option, may terminate all
fdtlher guarantees, or continue them up
on the terms AMI conditions in the ac!
prescribed, s.s
Sscii9H 9ssscribes lhs'iosm, Of Ger :
tifsa,e 70 be,giSen by the commissions
ers sxaniaing lhs road,
Section ltsFrFi6ss
cfihs gfsAsl q gT7 ~ 5gs
osnmSas..
Section 5declsres the rood, when
completed. TO bs a post route and mili7
tary road tlhe United States, with pref
srenco for the Coyerpmsnt for all such
purposes, at .rales not eseaeding The
amount paid BY priya.s parties. i
Section 6 rsqalt tie Company TO
commence the work within one year from
the passage ofihis act, to complete not
less thsasihitty eight miles per unnum
and to complete the whole road within
Eve years. 7
Seclion5 requires the bonds Of the
rOmpaoy to'bo for an equal amount of
dollars, not to be less than four hundred
dollars each, and to be made payable
thirty years from their date, and to car
ry interest from dato al the rate Of six
per cent. per annum, payable sSmi-au-
nually.
Section declares that the execution
uod recordaIion Of the deed aforesaid,
shall be deemed full acceptance by the
Company Ofall hc,cOndtiOns and pro-
visions Of the act, and that such accept
ance shall be signifisd within one year
from the passage OF the act.
1t will be seen from the above thai,
while Congress 10 the case Of the Pa
cifo Railroad and It's various branches.
not only donates land but Government
bonds tos large amount 10 those i'm
prOvsmentS, the Chesapeake and Ohio
Railroad bill does rot ask for dollar IN
money OF an acre Of land from the Gov
ernmenl but simply aguaranty by the
Government Of the bonds Ofthe comPa-
ny, (for a road which is eminsndy ma
tipnal. and upon safe and uudOubIod
secutiry0 or The ultimate success Of the
bill there can be no doubt It is oil i'm
porlant, however, to hsvS il passed, il
possible, attho present season, and no
effort, We are informed. will bc spared
/ Ia