The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-04-07
Important New Dominion Adyices.
The Connecticut Bank Robbery
Financial and Commercial
Etc, ETC.. Etc., ETC.. Etc.
FROM THE STATE.

The Great Railroad Bend Transfer Biu We
toed by GOveruOr Geary.
Special Despatch 10 The EUenialg Telegraph
HARRISBURG, April 7.-Governor Geary has
vetoed the Railroad Bond Transfer bill. This
measure, as it passed both houses, was entitled
"An act to facilitate and secure the construction
of an additional railway connection between the
waters of the SusquehaRna and the great lakes OF
Canada and the Northwestern States, by extending
the aid credit of certain corporations to the Jer
sey Shore, Pine Creek and Buffalo Railway Com
pany and in Ike manner to aid the construction or
the Pittsburg, Virginia and Charleston Reiway the
Clearneld and Buffalo Railway, and the Erie and
Allegheny Railway"
The preamble sets forth the expediency of
constructing the above-named roads and
Thereby provide outlets for important portions
of this Commonwealth that are filed with velu-
able COAL minerals, and other products row
without such highways, and when these lines
are constructed adding greatly to the taxable
values for State, county, and municipal pur
poses, as well as to greatly increase the value of
productions from those sections OF the Common
wealth for manufacturing, agricultural, and all
other purposes"
The first section of the bill reads as foHews-
"That the Jersey Shore Pine Creek, ana Buffalo
Railway Company be and they are hereby authorized
to execute a first mortgage to the amount of six
millions OF dollars in lieu and substitution of the
loan said company have heretofore been authorized
to make, which shall all their line of railway
to be constructed from Jersey Shore to with
the Buffalo and Washington Railway, as set forth
in their charter with its extensions rights OF way,
equipment, engine houses machine shops, tools,
and property of every kind whatsoever appurtenant
to and requisite for the maintenance management
and operation Of said road, together with bae
porate rights and franchises acquired and; to be
acquired to secure the payment of bonds as herein
after provided; each bond bearing interest at five
per ceItum per annum, payable seni-annually from
and after the first day of April Ammo Domui
bonds shall be payable to the Commonwealth
of Pennsylvania, TO be deposited in the sinking
fund OF the Commonwealth, with the interest there
on, for application only to the payment Of the public
debt; these bonds to be received by the Common
wealth in lieu and substitution of the existing
| debt OF that amount OF hye per centum bonds
that is contracted to be paid by the Pennsylvania
| Railroad Company, and &ll liens and claims arising
OF dollars OF bonds shall be received infull salts
faction of the said bonds OF the Pennsylvania Rail
| hereunder or therefor. = Upon the delivery
| OF the bonds and ortgages as hereinbefore pro-
| Vided, the Commissioners of the Sinking Fund Of
| this Commonwealth are hereby authorized empow-
cred, and directed 10 deliver to the Jersey Shore Pine
| Creek and Buffalo Railway Company the oblga-
| tions Of the Pennsylvania Railroad Company now
in the sinking fund or in any way belonging to the
| Commonwealth, to the amount OF six millions OF
dollars Of five per centum bonds, and to cancel and
| fully satisfy all mortgages or claims of every
nature and kind Whatsoever existing therefor by
| legislative enactment, contract otherwise, In
| favor or the commonwealth against SAID
PsnnsyEyania, Raroad Company and 6here;
from the said bonds and claims against the Pennsy-
| vania Railroad Company shall be applied from time
to- time by the Jersey Shore Pine Creek aud Buffalo
4 Railway Company only TO the immediate construc-
| ton and equipment OF the said line of railway
between the points specified in the act Incorporating
the said company and the said main line of railway
| shall be constructed and opened for public use
within three years from the passage OF this act: Pro-
Vided however That no delivery exchange OF bonds
shall be made under the provisions authority of this
act by the Commissioners OF the Sinking Fund until
contract Cor the construction and equipment Of
| the jersey Shore Pine Creek and Buffalo Railway
with responsible parties, duly executed shall be de-
| livered to said commissioners aud an absolute
| guarantee for the fudlment thereof within the
time and conditions or this act by the Catawissa and
Philadelphia 1and Reading Railroad Companies, or
the Catawissa and Lehigh Valley Railroad Compa-
MES or the Cstawissa aud Lebgh and Susauehanna
| Railroad Companies, or by the Philadelphia and
| Erie, Northern Central, anu Pennsylvania Railroad
| companies and also O guarantee In like manner of
the payment by said Jersey Shore, Pine Creek and
Buffalo Railway Company OF three hundred thou
sand dollars interest per annum, 1t accrues to the
State on the said bonds of the Jersey Shore Pine
Creek, and Buffalo Railway Company during the
construction OF said line OF railway, and until 1t is
| opened for traffic as required by this act"
| The section wound up with proviso "that
| the said Pennsylvania Railroad Company shall
give its consent in writing, duly executed under
| the seal of said company, to the transfer of the
| said Pennsylvania Railroad company's bonds to
the said Jersey Shore Pine Creek aud Buffalo
Railway Company
The second section provided
'That the three and half millions OF five per
centum bonds now In the sinking fund, given by
the Allegheny Valley Railroad Company to the Com
monweath of Pennsylvania, together with all the
| guarantees connected Herewith, be and they are
| hereby appropriated for aiding in the development
OF certain districts OF this Commonwealth herein
"First. TO the Pittsburg Virginia and Charleston
| Railway Company, and TO the branch railroad to
WaynesbuTg, IN Greene county, one million six hun
HSecond. TO 1he Clearneld ana Buffalo Railway
Company, one million four hundred thousand dol
! lars.