Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1871-06-24
TERMS .agIs o. pAIIr rsArEn. !. J, J.

Notices in Local Column, ten cents per line.
Notices In Special Column. five cents per line.
LAWS OF THE UNITED STATES.
Passed at the Third session Of the Fort. first
a Congress. ~ s'e = s'sss-
[PUBLIsHED By AUTHORITY.
[GENERAL NATURE-No. 541
AN ACT to iuccoafp orate the Texas Pacific Rail-
~Eroad Company, and to aid in the construction
of its road, and for other purposes.
hi (eoNcuLDED.) s
!, Sec. IL. That the Texas Pacific Railroad
Company shall have power and authority to is
sue two kinds OF bonds, secured by mortgage,
namely: First, construction bonds second,
land bonds. Construction bonds shall be Sc
cured by mortgage, first, on all or any portion
Of the franchises, road-bed, or track of said rail-
road and all the appurtenancest thereto belong
Ing when constructed or in the course of con-
struction, from pointat 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 the
construction of said railroad as is provided for
In this act; second, on lands acquired by any
arrangement or purchase or terms of consolida-
ton with any railroad company, or companies
to whom grants of lands may have been made, or
may hereafter be made, by any congressional,
State, or territorial authority, or who may have
rangement or consolidation Prorided That all
the mortgages made and executed by said. rail-
road company,shall be filled and recorded in the
Department of the Interior, which shall be a
sufficient evidence of their legal execution, and
shall confer AL the rights and property of said
Company as therein expressed A1ld orouidcd
also That the proceeds of the sales of the afore-
said construction and land bonds shall be APP
piled only in the construction, operation, and
Fequipment,of- the contemplated railroad line !:
and prorided further, That said mortgage shall
in no wise impair or affect any lien existing on
the property of said company or companies at
or before the timeiof such consolidation. a,-.i
; SEC. II. That whenever the said company
shall complete the first and each succeeding sec
ton of twenty consecutive miles of said railroad
and put in running order as a frst-class road in
all its appointments, it shall be the duty of the
Secretary Of the Interior to cause patents to be
issued conveying tosaid company the number
of sections of land opposite to and coterminous
with said completed road to which itshall be en-
titled for each section so completed. Said COM
pany, within two years after hepassage of this
act, shall designate the general 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 Interior, Immediately thereafter, shall cause
the lands within forty miles on each side of said
designated route within the Territories, and
twenty miles within the State of California, to
be withdrawn from pre- emption, private entry,
and SALE = e Tt the hundred
and forty granting presumption rights, and
the acts amendatory thereof and of the act en-
titled IAN act to secure hemsteads to actual set
tiers on the pablo domain,p approved May
twenty, eighteen hundred and sixty7two, and
the amendments thereto, shall be, and the same
are hereby, extended to all other lands of the
United States on the 1ine7 efssaid road when
surveyed except those hereby granted to said
company.
Sec l3 That the President of the company
shall annually, by the first day of July, make a
report and file itNyith the Secretary of the In
terror, which report shall be under oath, exhi-
biting 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 uyesi-
dences of the stockho Iders, efthe directors and
Of ahother officers Of the company, theamount
of stock subscribed, and tn amount thereof ac-
tually paid in a description of the lines of road
surveyed and fixed upon for construction, the
amount received from passengers and for
freight, respectively, ON the road, statement
of the expenses of said road and its fixtures,
and a true statement of the Indebtedness of said
company and the various kinds thereof Cd ~,
sHSEC. IA. That the certificates of the capital
stock must be signed by the president and secre-
tary, and attested by the seal of the company,
and shall contain an extract from tho proceed
ing of the board of directors 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 presi-
dent andssecretary, 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 thou
sand dollars in gold, and shall be redeemable
at such times, and to bear.such rate of interest
payable semi-annually in gold, as may be de-
tTaIh xzfI Il, foI vol of
the construction bonds to be issued shall not ex-
coed 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 mortgaged the total
amount Of each to be determined by the board !
BSEe Is. That all railroads constructed, or
that may be hereafter constructed, to intersect
said Texas Pacific Railroad, shall have right
to lconnect withsthat line; !, that me discrimina
OF 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 the said
acifc railroad over any of said connect
ing roads, or passing from any of said connect
ing roads over any part of said Texas Pacific
railroad, shall be made by said company as
they make for freight and passengers over their
own road Provided also, That said connecting
roads snail reclprocate SAID r1ght OF connecGion
and equality of charges with said Texas Pacific 4
railroad: 4,,d provided further, That tho rates
charged for carrying passengers and freight,
per mile shall not exceed the prices which
may be fixed by Congress for carrying passen-
gers and freight on the Union Pacific and Cen
trail Pacific railroads.
SEC. is. That said road shall be constructed
of iron or steel rails manufactured from Ameri-
can ore, except such as may have heretofore
been contracted for by any railroad company
which may be purchased or consolidated with
By the company hereby Incorporated, as pro-
vfded by this, acty fas TH1. 81 IlOa Ut
SEC. d. That the said Texas Pacific Railroad
Company shall commence the construction of
its road simultaneously at San. Diego, in the
State of California, and from point at or near
Marshall Texas, as hereinbefore described, and
SO prosecute the, same as TO have at least fifty
miles of railroad from each of said
points complete and in running order within
Two years after the passage of this act; and to
so continue to construct each year thereafter