Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1874-02-14
Interstate Commerce Hurlbut's
Project,

The following are the main features
of the bill introduced in Congress by
Representative Hurlbut for chartering
a double-track railway company with
authority to construct and operate II
line between the Atlantic scaboard and
the Mississippi river:
The purpose and object of the cor
poration are declared to be to locate
track, and build and operate railroad
for freight only, with two tracks, from
any convenient point on the Hudson
river or tina Bay of New York, to Coun-
ell Bluffs, Iowa, or to such other con
venicnt point ON the east bank OF Mis-
souri, river, in Iowa, as shall offer the
best connection with the system of rail
roads west of the Missouri river.
The construction of the road shall be
commenced within one year from the
passage of this act, and the main line
completed within three years there
after. The capital stock of the com
pany shall not exceed 1000, 600 shares
of 500 each.
1t is required that the road shall be
laid with steel rails, or solid-headed
steel rails of not less than is pounds
weight to the linear yard, and the en-
tire road to be constructed and operated
in the best manner Besides branches
to st. Louis and Chicago, the corpora
ton is authorized to construct such
other branches as in the Judgment of
the directors may answer its purpose,
but not more than two branches shall be
made on the same side of the main line
in any one State.
The maximum rates of freight allowed
to be received by the company shall be
at the rate of 5 mills per ton per mile
for all distances exceeding $50 miles,
and at the rate of 8 mills for distances
less than $50 miles, and not exceeding
600 miles, and at the rate of mills per
ton for distances less than 600 and more
than 400 miles, and at the rate of S
mills per ton per mile for distances of
less than 400 and not exceeding 300
miles, and at 9 mills per ton per mile
for distances less than 300 and not eX-
ceeding $50 miles, and at l cent per
mile for distances less than 80 miles !;
provided, that in the winter months said
corporation shall be entitled to add |
mill per ton to all rates, and to all other
rates not included in the term bulk
freight, at such maximum rates as shall
be fixed by Il Commission to be APP
pointed.
A commission of five persons is to be
established, three of whom are to be
appointed by the President, and two by
the company, who shall have full power
and authority to classify freight and fix
maximum charges on each class of
freight and on each article other than
those specified.
The United States, in consideration
of the requirements of the bill, guaran-
tee an interest at the rate of 5 per cent.
per annum, payable half-yearly, upon Il
portion of the cost of construction of
the main line of the load. The bonds
SO guaranteed shall not be sold or dis
posed of by the company except for
cash, and at not less than 95 per cent
of their par value, and shall be payable
at the city of New York, both principal
and interest. A sinking fund is to be
created to reimburse the United States,
etc. This charter, and all privileges
therein contained, are declared to be
subject to the control of Congress as to
the modification, alteration, or repeal
of the same.