The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1870-11-25
MoTlcg 70 THE PUBLIC.
EXECUTIVE DEPARTMENT,
ATLANTA, Ga, October Goth, 1870
10 WIoa, 1t May Concern

10 Uhom ID My Concern:
BY an act ofthe General Assembly ofthe State Of
Georgia. approved October u, 1870, authority is
given 10 the Governor 80 lease the II Western aud At
antic Railroad, The properly Of the State. together
with all Of it, houses workshops. dep0ts, rolling
stnck and appurtenancepf every character, for the
term Of twenty years, upon certain terms, and subject
10 certain restrictions therein named, tO-wit:
The MONTH " rental shall not be less than twenty
five thousand dollars S250JO) payable monthly
The lesaees Shall give bond for tie Of eight
millions Of dollars (53. Gee .06O) to securing the
frafpt payment Of he amount Of rental agreed upon
and for the return ofthe road and its appurenances
at the expiration Of the Tease, or the termination
or forfeiture thereof, in good condition at the
time Of leasing FIVE millions Is 0O0 90U) Of which Sc
curity shall be within this State and the balance, il
ont of the State shall be upon real state railroad
property. The lessees 10 be worth over and above
their Indebtedness, at least five hundred thousand
dollars (S5JO UUO)
The Legislature reserves to itself the right from
time to time to examine into the affairs Oft essees
and 10 require that the amount Of security above re-
cited shall be maintained and Wmpaired.
The lessees shall not be less than seven in mum
Der a majority Of whom shall have been for five
years bona tide residents Of this State and shall rep
resent majority of the whole interest in the lease
No railroad oreXpress company, or any combination
Of them shall in any event, become the essees, but
they may become sureies outhe bonds OF the essees
The essees shall not charge higher rate for local
fenhts over said road than the average rate charged
by The Georgia Railroad and Banking Company, til,
Central Railroad and Banking Company, and the
Macon and Western Railroad Company, for like local
feights over said roads, and the said lrssees shall
have the same rights, exemptions, privileges mmg
mites and guarantees, except the establishment OF
banks and shall be subject to the same liabilities,
disabilities and public burdens Of said railroad com
panies last mentioned. The faith Of the State is
pledged to redeem all mortgage bonds and, coupons
now resting on the State Road they tall due, and
save the lessees harmless against ali such bonds and
coupons.
The essees are by this act constituted body cor
porae and polite for the term of twenty years
der the name and style OF the Western and Atlantic
Railroad Company, having such powers. liabilities
and immlnities as are usual with railroad c0mpa
MES and not in conflict with the Constitution
and Laws Of the United States, or Of the State Of
Georgia but they will not be allowed to make or
permit any discrimination in favor Of or against any
other road or persons having business 'pections
with the said Western and Atlantic Railroad.
For the purpose Of carrying out this act, propos
ais will be received until and including the 25th day
of December next and must be addressed "to tie
Governor Of the State Of Georgia, at Atlanta, and
marked on the wrapper, Proposals for the lease Of
the Western and Atlantic Railroad, in accordance
with an Act approved October "A 1870" The pro
posas must state in full thenames and residence OF
the parties uniting to make proposition, the amount
that each ofthem therein named are worth over and
above their debts and liabilities, together with full
description Of the character Of the security which will
be offered to complete the bond
The property to be leased q single track railroad,
one hundred and thiltyeght miles in length, with
full and complete equipment Of shops. drPots tnrn-
outs, sdelmgs, engines, cars etc, etc. ETC., now IN
successful operation between the cities Of Atlanta in
Georgia. and Chattanooga, in Tennessee Al Chutta-
uooga the line is Ia direct rail- connection with the
Memphis and Charleston, Nashville and Cha.tauoo
ca Chattanooga and New Orleans, East Tennessee