Helena weekly herald. [volume] (Helena, Mont.) 1867-1900, 1877-02-08
NORTH AND SOUTH R. R. BILL.
Introduced and Recommended by
the Committee on Internal
improvements.

SECTION /. That for the purpose OF secur-
ing railroad communication with the several
States, the Territory of Montana in the form
and manner, and upon the conditions and
contingencies hereinafter in this act provided,
hereby accepts the proposition of Oliver
Ames, e. Atkins, Sidney Dillon, Jay Gould,
T.. Gordon Dexter, S. Richardson and Royal
M. Bassett to build a railroad into said Terri
tory, made on the 23d day OF December, 1876,
at New York City, which said offer and
proposition is as follows, to wit.
10 tile Honorable Legislature Ass em6Iy Of the
Territory Of Montana:
We submit to you the following PROPOSE
ton, to wit.
1st. That we will undertake, in considera-
ton that such a subsidy as hereinafter named
is voted, to build narrow-gauge road of the
width of the Utah Northern Railroad, start
ing at Franklin After obtaining q survey of
the contemplated route to run the road to
Montana, and to terminate at a point IN Mon
tana as far north as the mouth of Big Hole
river, and said railroad to be completed at
the rate Of one hundred miles per year from
and after the commencement of the same.
I'd. That the said road shall be supplied
with all the necessary rolling stock to do and
transact the business of the said road as it
Sd. That the said road, which will be CALL
ed the Utah Northern Extension Railroad,
and will be constructed as above named, in
consideration of your Territory granting to
the individuals or incorporation building said
road, bonds to an amount of 1,5OO, 600,
basing the entire length of the road at 300
miles, which would be built under and pur-
suant to this proposition.
4th. That the amount of bonds to which
the said subscribers or corporation shall be en-
titled, when the whole road is constructed,
shall be issued and placed in escrow in the
city of New York but only to be delivered
in accordance with the provisions hereinafter
contained.
5th. That said bonds shall draw interest
at the rate of per cent currency per an
mum, payable in New York city semi-annu-
ally; provided, that interest shall only be
computed from the time of each delivery
thereof, to the parties engaged in the con-
struction of said road.
9th. That the construction of said road
shall commence at the said point mentioned
-Franklin-and continue towards the said
designated terminus; and that from the said
place of commencement tO the said terminus
line in Montana, there shall be delive4 ed and
paid over, upon tie construction and opening
for freight and passengers, of every twenty
miles OF said railroad from said starting point,
the pro rata proportion of bonds, that is to
say $4,000 per mile.
9TH. The depository of said bonds shall be
in the city of New York, to be fixed and
agreed upon by mutual consent of parties in
interest, and the work of constructing said
road shall be commenced within sixty DAYS
after the bonds shall be deposited as above
stated. The foregoing proposition is made
in good faith and with the intention of build
ing the said road if the aid asked for is
granted by your Territory. We are satisfied
of our ability to construct The road within the
time and in the manner above named.
All of which is most respectfully submit
ted to your Honorable body to act upon.
Dated at New York, this 23d day of De-
cember, 1876.
OLIVER AMEs.
E. ATKINS.
SIDNEY DILLON.
JAY GOULD.
F. GORDON DEXTER.
s. RICHARDSON.
ROYAL NJ BASSETT.
President U. N. r. r. C.
SEC. =. lhat tor the purpose of aiding in |
the construction OF said railroad to run from
franklin. In the Territory of Idaho, to and |
into the Territory of Montana. to a point
within five miles of the mouth of the Pine.
stone creek, Jefferson county, and upon the
west bank of Jefferson river, the sum of One
Million and Five Hundred Thousand Dollars
is hereby contributed by the Territory of
Montana, to be paid when the coupon bonds
of said Territory shall become due which are
hereby authorized to be issued in the manner
and on the same terms provided in this act
provided, that none of said bonds shall be
delivered to any corporation, person or per-
sons. for any purpose whatever, except upon
the terms and in the manner provided in this