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

COagys n relation 10 Me said. Road:
Section lprOvides foraO guarantee by
the Uui d'StalcsOtthe bonds Of the Com
pany q ID amount not exceeding fifteen
miloHs q dollars upon the execution
and rseesaRiion ola Deed Of Trust, upon
the whole road from Richmond to the
Ohio River Three millions to DO guar
anteod 4 soon as tho deed is executed
aud recorded. One million more, as
soon al Thar portion The road between
Coyingt aud tho White Sulphur
Springs completed and equipped ior
use, whdiher by permanent or Temporal :
" sltg iae lsoes shstd tunnels
,IofSbig dexpehsiVe smbauEmSnu are
required. 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 ex-
housled.
Section 2 provides that after the FIRST
guaranty Of three millions no additional
guarantee shall be givenuntiI three Com
missiOncrs to be appointed by the Presi
dent Of the United States shall have ex-
amined each section of the road, for
which such guaranty is asked, and certi-
tiud, upon oath, that it is constructed,
completed and equipped for use, in the
mode ptesctibcd by the act. It further
provides that 10 case Of default by the
Company 10 the payment OF either the
principle or interest Of its bonds thus
guaranteed or any part thereof. tho trus'
tees shall sell the whole road, or SO much
thereof as may be necessary TO make
good such deficiency or default and in
that event. that the Secretary ofsho Tfcs.
sary at his option, may terminate all
iof,her guarantees, or continue themup
on the terms AMI conditions in the Act
| prescribed, - sga
SSscti0F zpssscribes Iho'fotmyo fcer-
lifcato 70 bssiSen by the comaissichs
ors exsrniaing tho rpa4s
Section pfsseflRss
Of i6s FFeasl!1F on ulIusf tho Gov
Section 5 declares the roSd, when
completed. 10 boa post route and mili7
tary road otlhe United States, with pref
srence for The GoveInpsnl for all such
purposes. al rates not exceeding the
amount paid BY private parties. I
Section 6 reqals tie Company to
commence The work within one year from
tho passage Of this act, 70 complete not
less thalsthirty eigh! miles per annum
and to complete the whole road within
Eve years. al @
section7 requires the bonds Of the
rOmpany to'bS for an equal amount of
dollars, not to DO less than four hundred
dollars. each, and to be made payable
thirty years from their date, and TO car
~ interest from date al the rate Of six
per cent. per aunum, payable somi-an'
nually. 4.
Section 0 declares that the execution
and secordadOn Of the decd aforesaid,
shall be teemcd a fullacreplance by the
Company ofall. tho,cOnditiOns and pro-
visions Of the act, and that such accept
ance shall DO sisnifed within one gear
from the passage Of the act.
1t will be seen from the above that
while Congress in the case Of the Pa
cifc Railroad and It's various branches.
not only donates land but Government
bonds to a large amount TO those i'm
prOvsmsnts, the Chesapeake and Ohio
Railroad bill does not ask for q dollar in
money or an acre of land from the Gov
ernment but simply aguaranty by the
Government Of the bonds Of the cOmPa-
ny. (for road which is eminenIly ma
tipnal, and upon safe and undOubIcd
securiry) ofIho ultimate success Of tho
bill there can he no doubt. It is oil i'm
porlaut, however; to hSvOi il passed, Il
possible, at the present season. and nc
effort, we arc informed, will DO spared
10 accomplish this result.