Rocky Mountain husbandman. [volume] (Diamond City, Mont.) 1875-1943, 1876-02-24

N%'\A - tethS AOlI
as is or may be charged for the same on
said railroad east from Bismarck and for
this purpose the said railroad company shall
s~emi-annually deposit with the Farmers
Loan and Trust Company, in the city of
New YORK the whole of said earnings, or so
much thereof as may be sufficient to redeem
the said coupons as they fall due, and such
further amount as will, with accommodating
interest, constitute a sinking fund sufficient
to pay the said bonds at maturity. And if
said Northern Pacific Railroad Company
shall fail to deposit its gross receipts from
said portion of the road as aforesaid, then
the road-bed and other property of the COM
pany within the Territory of Montana shall
be held and bound for the satisfaction and
payment of the bonds and interest thereon
proposed to be issued by this act, and the
lien thereby created shall take precedence
to, and priority over, any and all other liens
and membranes heretofore OF thereafter
created or imposed upon said property, save
and except all lawful taxes due or to become
due thereon; and these provisions shall also
be incorporated into and form one Of the
conditions Of the said bonds to be issued by
this act; Provided, That the members of
said Board of Territorial Trustees of Rail
road bonds shall have the power to and may
take Of the said Northern Pacific Railroad
Company other good and sufficient securi-
ties, such as they, the said Territorial
Trustees of the railroad bonds, may deem
ample and necessary to take the place of the
lien created in this act. And provided
further, That if the said railroad company
shall fail to provide for the payment of the
interest on said bonds when the same shall
become due and payable as hereinbefore
provided, and shall fail to make such proyis-
ions for the space Of sixty days after de-
mand in writing shall be made by the Gov
ernor of the Territory on behalf of said Ter
ritory, at the Office of the company in the
city of New York, (said written demand to
be served upon the employee or persons in
charge or possession of such office) then
and in that event an action may at once be
brought in the name of the Territory of
Montana to enforce the said lien upon the
road-bed and other property hereinbetore
mentioned, for the whole amount OF said
bonds and interest in the same manner as if
the said bonds had become due and payable;
And provided further, That the said railroad
company shall, on or before the first day of
january, A. D. 1877, build, construct, and
put in operation at least fifty miles OF said
road westward from Bismarck, in the Ter
ritory of Dakota, otherwise this act and all
agreements hereunder to be null and void
and Of no effect. t
Sec. 6. That whenever the said railroad
company shall have completed and put in
running operation, twenty miles of said rail
road, westwardly from said Glendive creek,
and whenever thereafter they shall have in
like manner completed an additional section
of twenty miles, and as often. as such sec
tons are SO completed, it shall, through its
proper officers, notify the Governor of this
Territory of the completion OF so much of
said road, and thereupon the Governor shall
appoint a committee Of not less than three
reliable persons, who shall not be connected
with or in the employ of said railroad COM
pany, and who shall make an inspection of
said road, and if the same is found, upon
said inspection, to be so completed in a
good, substantial and workmanlike manner,
they shall certify the same to the Governor
In writing, who shall thcrenpon, after first
giving thirty days notice by publication in
some newspaper published at the Capital of
this Territory, direct the Auditor and Treas
urcr Of the Territory to issue to said COM