New-York tribune., 1874-04-13
4 RAILROAD Law FoR THE TERRITORIES.

SENATOR STEWARDS BILL TO INCORPORATE HNp
REGtrI ATE RAILROAD COMPANIES IN THE TERRI
TomEs-ITs PRIVILEGES AND REsliiCIio
THE RIGHT OF WAY THROUGH PUBLC LAND''
Senator Stewart introduced on the Ho'h vi
Ianuarv hill to provide for the incorporation ana
reIaton of railroad companies in the Territories o
the United States" which was referred 10 'he 'o"
fee on Railroads. The bill was subsequently rcPoI'eu
no Mfr Stewart, with amendments, and placed on the
calendar 1t was reached on Wednesday last by the
Senate in Committee Of the Whole, ana on
following days several amendments were made
The most important Of these were those
striking out the twenty-irst section which gave 10
roads organized under State laws the same privileges
with respect unoccuped public lands as Ioads organ
lied under the bill, changing the grants OF iahu Iol
stations, etc. from 40 TO 10 acres ior every Io es VI
road and inserting proviso that the bill should not
apply to the District OF Columbia On FRIDAY the sen
ate amended the bill still further. Among the amend
ments was one forbiddng road to cross an indah
reservation another giving Congress power 10 amehu
alter or repeal the whenever the public good re-
quires it, and giving new States the same power wlhh
their own territory and two more prov1ing tnat
majority Of the persons applying for charter must ne
residents Of the Territory Territories IN whch inc
road is TO be built and that the capital stock Of any
road shall not be less than $loC0o mile Pending fur
ther action upon the bill the Senate went into EN
ecutive Session and after adjourned The above
mentioned amendments are mostly additions 10 'ne mn
aud make little change IN the original text Ihe prlncl-
pal features OF the bl as reported from the COMMITTEE
NAV be summ arizcd az follows
Anv number of persons not less than five may become
body corporate for the purpose of locating, construct
ING. maintaining. and operating railroad IN any ol ihe
Territories except the Indian Torniory upon complying
with the provisions of the bill The charter OF snch cor
pOTations provisions for the obtaining OF when are
made in Sections and g. Is limited 10 81 years rom te
date OF Its certiheate Aulhory - sEen D{ & it
to construct single or doupe rack ahu sue @ III W.
tracks, tnrn-Outs shops offices ana denOts rs NAV DC
deemed necessary. The capital STOCK Is TO consist OF
such sum as IS bdmen ~ Ilo VIZ a,,,o ot
regarded as personal propery subject 10 execution aI
law Ten per cent must be pad in money on each snare
at the time ot subscription. me iclnainuer ~ " ~ O
paid at the principal Office III such instruments nOt
exceeding 10 per cent each share as the directors
may prescribe; payments however, must not oe caleu
for oftener than once IN three mouths [aT nn}
EsGn asGo is mace Gefaus 10 sISOn action iOf at law @
or the sale Of the stock by auction Que puhlc ana
openinr of SUBSCRIPTION books and election OF officers
sprovdcd for IN section T. Section grants the rght
of way through the public lands TO any railroad corpo
ration Incorporated under this act TO the extent OF 100
feet width each side Of the center OF the railroad
from the public lands adjacent 20 the line Of the road
material of earth, stone, tnber and water necessary
exceeding acres fox every 10 miles OF road IL also
granted for station buildings, workshops depot,
water stdtions-mineral, homestead and preempteI
lands being excepted The same privileges win IspeGl
to Hn9cGrpSd nSdI Pa6G oB sd1e Iis sw are gwen "
For the purpose OF securing private lands ana prem
ises for the construction OF tue road such corporation
Is empowered to enter upon, purchase take ana hou
such may be necessary not exceeding III Nlu,n lp
side of the center ine OI tne rod uhIcsS
is needed for excavations OF entertainments Au
bority also given cut and remove such trees anu
other material that 10y falling, ncumDcr lt5 road
though being tau 100 feet from IT, GrONlhlOn
il made IN the same section 9 for the payment OF the
damages done TO such lands premises. The title OF
the corporation lands taken under the BILL is pro
yided shall not he affected impaired by reason OF
any failure by any guardian 10 discharge faithfully DIS
trust The right Of OF one corporation through any
canon pass dele shall not exclude any otner c0rpO
from of the same upon equl.apIe efs
DISAGREEMENT, tho matter IS 10 DC adJusted
by the Secretary OF the Interior The time or beginning
the road is limited to one year from tue date OF
certificate: at least miles must he graded every
wear and the entire line completed within ten years
Failing TO comply with these PROVISIONS, tpe corporation
shall forfeit It's charter and all the figns and privileges
conferred by the bill as TO any uneoinpieed
portion OF its road Bonds secured ny
mortgage or pledge OF property ami income, may be
executed the of It's capital stock. When ncces
eary To build bridge navgdbe stream III shall
he done subject regulations made by the secretary OF
War; such bridge shall be recognized as post route
Every road Incorporated under the bill is required TO
make an annual report the Secretary OF the INTERIOR
showing the amount Of the capital stock or such com
gross OF receipts ana the respective sources
thereof during the previous year, the amount OF rOad
graded the constructed the cost OF construction
per me and of repairs and incidental expenses the net
amount Of profits the dlydends made, and the debts
and liabilities, with such other facts may be ueces-
sarp to ul statement OF the affairs and condition OF
the road. Provision made for giving the privileges OF
the N TO railroads organized under Territorial laws.
Right construct. MAINTAIN, and operate telegraph on
the line of its road Is also given to the corporations.
The United does hold itself responsible for
the debts Of the corporations and prohibits territorial
county municipal subscriptions TO the stock OF the
corporations without the consent Of Congress.