New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-19


as conveying any greater right to said
company to the water front at San Diego
bay than 1t may acquire by gift, grant, pur-
chase or otherwise, except the right of way,
as herein granted; and provided further,
that all such lands, so granted by this
section to said company, which shall not be
sold or otherwise disposed of, as provided
in this act, within three years after the
completion of the entire road, shall be sub
iect to settlement and presumption like
other lands, at price to be fixed by and
paid to said company, not exceeding an
average of two dollars and fifty cents per
acre for all the lands herein granted
SEC. 10. That when the route of said rail-
road and telegraph line shall pass through
the lands of private persons, or where it
may be necessary for said railroad company
to take any lands belonging to private per.
sons for any of the purposes herein men
toned necessary to said road, such right of
way through or title to such lands shall be
secured in accordance with the laws of the
State or Territory in which they may be
situated.
SEE. ii. That the Texas Pacific Railroad
Company shall have power and authority
to issue two kinds of bonds, secured by
mortgage, namely: first, construction bonds;
second, land bonds. Construction bonds
shall be secured by mortgage, first, on all
or any portion of the franchises, road-bed
or track of said railroad, and all the appur-
tenances thereto belonging, when CON
structed or in the course of construction,
from point at or near Marshall, TO ships
channel, in the bay of San Diego, in the
State of California, as aforesaid. Land
bonds shall be secured by mortgage, first,
on all or any portion of the lands hereby
granted in aid of the construction of said
railroad as is provided for in this act;
second, on lands acquired by any arrange
ment or purchase or terms of consolidation
with any railroad company or companies to
whom grants of lands may have been made
or may hereafter be made by any congress
sional, State or territorial authority, or who
may have purchased the same previous to
any such arrangement or consolidation;
provided, that all the mortgages made and
executed by said railroad company shall be
filed and recorded in the Department of the
Interior, which shall be sufficient evidence
of their legal execution, and shall confer all
the rights and property of said COM
pany as therein expressed; and pro-
vided also, that the proceeds of
the sales of the aforesaid construction
and land bonds shall be applied only in the
construction. operation, and equipment of
the contemplated railroad line; And pro-
vided further, That said mortgage shall in
no wise impair or affect any lien existin g
on the property of said company or COM
dation.
SEC. u. That whenever the said COM
pany shall complete the first and each sue
ceeding section of twenty consecutive miles
of said railroad and put it in running order
as first-class road in all its appointments,
it shall be the duty of the Secretary of the
Interior to cause patents to be issued con-
veying to said company the number of Sec
tons of land opposite to and coterminOus
with said completed road to which it shall
be entitled for each section so completed.
Said company, within two years after the
passage of this act shall designate the gem
eral route of its said road, as near as may
be, and shall file map of the same in the
Department of the Interior: and when the
map is SO filed, the Secretary of the In
terror, Immediately thereafter, shall cause
the lands within forty miles on each side
of said designated route within the Terri
tories, and twenty miles within the State OF
California, to be withdrawn from pre-
emption, private entry, and sale; Provided.
however, That the provisions of the
act of September, eighteen hundred
and forty-one, granting presumption
rights, and the acts amendatory there
o., and of the act entitled IAN Act
to secure homesteads to actual settlers on
the public domain" approved May twenty,
eighteen hundred and sixty-twO. and the
amendments thereto, shall be, and the same
are hereby, extended to all other lands of the
United States on the line of said road when
surveyed, except those hereby granted to
said company.
SEC. Is. That the president of the com
pany shall annually, by the first day of July,
make a report and file it with the Secretary
of the Interior; which report shall be under
OATH exhibiting the financial situation OF
the company, the amount of money received
and expended, and the number of miles of
road constructed each year; and further,
the names and residences of the stock
holders, of the directors, and OF all other
officers of the company, the amount OF stock
subscribed. and the amount thereof actually
paid in. description of the lines of road
surveyed and fixed upon for construction,
the amount received from passengers and
for freight, respectively, on the road, a
statement of the expenses of said road and
its fixtures, and true statement OF the in
debtedness OF said company and the various
kinds thereof.
SEC. IA. That the certificate of the capital
stock must be signed by the president
and secretary, and attested by the seal OF
the company and shall contain an extract
from the proceedings o. the board OF direc-
tors fixing the amount thereof, as well as
from this act, authorizing such issue. All
the bonds and mortgages issued by. said
company must be signed by the president
and secretary, and attested by. the seal OF
said company, and shall contain an extract
from the law authorizing them to be issued.
The face value of said bonds shall be one
thousand dollars in gold, and shall lie re-
deemable at such times, and to bear such
rate of interest, payable semi annually in
gold. as may be determined by the di-
rectors. The total value of the cOnstruc-
ton bonds to be issued shall not exceed
thirty thousand dollars per mile OF said
railroad, and the total face value of the
land bonds shall not exceed two dollars
and fifty cents per acre for all lands mort
gagged: the total amount of each to be deter
mined by the board OF directors.
SEC. IS That all railroads constructed. or
that may be hereafter constructed, to inter
sect said Texas Pacific railroad, shall have
a right to connect with that line; that no
discrimination as regards charges for freight
or passengers, or in any other matter, shall
be made by said Texas Pacific Railroad
Company against any OF the SAID
connecting roads, but that the same
charges per mile as to passengers, and per
ton per mile as to freight, passing from IL .
said Texas Pacific railroad over any OF said
connecting roads, or passing from any OF
said connecting roads over any part OF said
Texas Pacific railroad, shall be made by
said company as they make for freight ana
passengers over their own road; Provided,
also, That said connecting roads shall reel
procate said right of connection and equal
itv of charges with said Texas Pacific rail
road: And provided further, That the rates
charged for carrying passengers and freight,
per mile, shall not exceed the prices which
NAV be fixed by Congress for carrying pas
sengers and freight on the Union Pacific
and Central Pacific railroads.
SIC. is. That said road shall be construct
"a &c ;ro, or steel rails manufactured from