The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1872-04-03


tie saia RAJ! road, which bombs are
liable for the debts 0f the said rail
road companies and whereas the
present condition Of tao finances
ol' the State, and Of sald cOmp;l-
n:cs, is such rs 10 make the fur
tncr continuance Of said bonds on
the market inexpcIicnt and unad-
visible, and = serious injury and
prejudice to the credit Of the State;
and whereas the existence Of tic
SAID four millions Of dollars Of
bonds, so guaranteed, creates q
large !iabii;:y On the part OF the
St:itc, which the Treasury may
10 required TO nee! 1T untorc,
seen and importunc times; and
whereas the liability Of the State,
on account OF such guaranty,
sAoui,;be faithfully met ana dis
charged !; tLvlvfore, in order to
sec"Tc tAe recovery and dcstruc-
ton OF the bonds and coupons Of
tie said company, issued under
and in pursuance Of the provi-
S!oMs Of the aforesaid Act, no"
pledged in the city Of Now lo"A
and elsewhere, and to relieve the
State ot Il! liabilities whatsoever,
by reason OF its endorsement and
guaranty Of said bonds:
SECTION /. Be it enacted by the
Senate and House Of Representa-
tives Of the State Of South Caro-
lima, now met and sitting in Gen
era! Assembly, and by the author
ity OF the same:
That the State Treasureris here
Ly directed, with the consent, in
writing, Of the President Of tie
Blue Ridge Hail Road Company,
il South Carolina, to require TIC
Financial Agent Of the State, il
the city Of New York, Immediate
Is 10 deliver to the State Treas
urv ali the bonds q Tie D.ur
Ridge Rail Read COmp;".y, r!t-
Gor>td and Guaranteed ~ the
State Of South Carolina, which
are now in his Possession, and ll".d
by him as collateral security, lo:'
a0vanccs made by the said linan-
ciai Agent, by the order Of the Fl
nancai Board, to the Blue Ridge
Hail Road Company: and upon
the delivery Of said bonds, ;!c
Treasurer is hereby required 70
cancel the same, in Tic maAucr
herciiAatte: directed ard tie said
Blue Ridge Rail Road Company
Shall thcreupon be discharged from
a; liability to the State on account
OF such advances.
SEC. ?. That upon the surren-
der by the said company to the
State Treasury OF the balance Of
the said four millions OF dollars Of
bonds, issued l.: the sad Blue
Ridge Rail I;o;,:j CVmI;.ny. a"U
guaranteed by the State, tHo State
Treasurer IS hereby authorized and
required TO deliver TO the IroSi-
dcnt OF the Blue Ridge Rail Road
Company, in South Carolina, Tlr&S-
ury certificates Of Indebtedness
(styicd Rcvcnuc Bond Scrip to
the amount Of one million eight
hundred thousand dollars, the s;id
certificates 70 be executed in the
munncr hereinafter directed ard
il the said company SAuj! not be
able to deliver a. o. said bonds a
one time, the Treasurer i author
lied and required to deliver 10 the
said President >!rh amount Of such
Treasury certificates as >ha2! Ge
rvc%or:;o"a! 10 the aMV3uL cf
D0n>ls delivered.
SEC. 3. That to carry CIT the
purposes Of this Act, the State
Treasurer is hereby authorized
and required 20 have printed, Or
engraved on steel, IS s0on as pr%c-
ticabic, Treasury ccrt;iic;::eS Of in
deb;eIHcSs, 10 pe known ana de-
iynu;oG IS Revenue Bend Scrip os
the STATE q South C;."".l"a. il.
such form. au:i Of s"c!!! ","HmiH;,-
ton as laHv he determines. on -,
zee State Treasurer, ami ;i.G Pres