Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1878-03-15
Congressional.

70 prohibit members OF congress from
becoming suret!es on certain bonds.
The great part Of the morning hour
was occupied in reporting and consider
ing bills Of no public importance, Mr.
Wallace who is in charge Of un-
finished business, long bond bill, being
still unayodabIy absent, the bill wa,
passed over for the present with the uu-
standing that it should retain its place
u unfinished business. After oXecu-
tive session the senate adjourned.
TUESDAY, March 5.-House In the
house Il resolution was offered le-
citing that the Union Pacific
and Central Pacific railroad COM
panics owe the United States
S2S, 100000 Of accrued interest on
bonds guaranteed by the United
States, and that the earnings of said
companies have been consumed by
dividends declared on capital stock il
violation Of their charters, and direct
ing the Judiciary committee TO report
whether it is expedient to enact such
laws Us Will prohibit the payment Of
dividends on said stock untilt the indebt-
edness to the United States is liquid
atcd. Mr.. Riddle, from tie committee ON
territories, reported back adversely the
bill to establish the territory Of Pcmbi-
M Laid ON table.
At the conclusion Of the morning
hour the house went into Il committee
of the whole on the fortiiication appro-
priaton bill and continued to discuss it
until IN adjournment was reached.
WEDNESDAY,, March --Slnete In
the senate, the bill to authorize the
Worthington and Sioux Fails II. II. Co.
to extend lis road into the territory
of Dakota to the village If Sioux
Fails, was taken ~ and passed
Consideration was then resumed on
business, being the long
bond bill After u long debate the bill
was amended and passed without roll
call The following il Il full text Of the
bill rs il passed:
Be n eHdded, de-, That in lieu OF that amount
OF four per cent bonds OF Tn. United state author
izcd To he issued by the acl OF July lh, 1870, The
secretary OF the treasury Is hereby authorized and
directed to issue the sum not exceeding S!000Ol,
GOO of coupon bonds II the United States. of de
Of So $50 aud 500 aud Of equal
sums Of each said denominations, aud rpdeenn
Bile in com ~ yours from date ui their issue and
bearing interest payable semi annually mt the
rate or four per cent. per annum and said bonds
shall be exempt from taxation in like manner rs
those in place Of which they are to be issued
Section ,. That said eounon bonds shall be
made payable To the order Of the person who
shan pay money therefor, ana the name Of such
person, OF biz or her assignee, or any Snb'e-
qlieut assignee aud his Or her residence
shall be registered as owner Of such bond in
like manner as il the same Il Clustered
bond, and such coupon bonds shall he transteta-
BILE only Nv assignment duly acknowledged before
and certified under seal of The clerk of a state
court Of record, or federal court or United States
which ASST shall also b"
executed in presence ol two subscribing witness
Is and such assignment may also he made leaving
the nnme of the assignee lank and executed as
herein before provided thr coupon bond shan ne
transferable by delivery OH like mannc a. it is
payable 10 bearer.
Section 3 That coupons attached To said bonds
shall be payable either IN ntcd States legAlea-
der notes or IN COIN at The option Of the United
Suites, aud the same shall hc paid NJ any Of the
Sub treasures ANA money repositories ot tho
| nitcd states, Or at any national bank; and II is
hereby made the duty OF each OF Sall national
banks to pay said coupons upon presentation,
without charges. and remit tire same to The treas
my for REDEMPTION; but said national banks SHAH
only be required tn DO 50 on production Of the
proper bond to which the coupon presented shall
have been attached.
Section & That the secretary Shall keep said
banks and mancy repositories OF the tnlted
States, and shall dispose of the same at par, and
accrued interest iur coin or fr United States
legal tender notes nj tier nominal value, and
such legal tender notes shall he rc-issued, and
their proceeds and coin received for such bonds
shall b. applied 20 the redemption Of outstanding
bonds 81 the United states which are redcemahlc
and bear the highest rate Of Interest Of such
bonds.
Section >. That the provisions Of sections 3,1ni
and 3,i05 Of the revised statutcs Of the United
States, authorizing the ISSUE OF another bond in
room az amy registered bond lost or DESTROYED
are hereby made applicable to bonds to be issued
under this statute, but only IN case of loss on
destruction thereof before the execution OF the
assignment IN banl thereon lhe secretary Of
the treasury Is authorized 10 make such rules
and orders NJ may be necessary to carry ont the
provisions Of this act
On motion Of Mr. Sargent the Joint
resolution recently submitted by him
in regard to Chinese immigration was
taken UP SO as to he unfinished bust
ness, tomorrow, when he viii address
the senate III regard thereto After
executive session the senate adjourned.
WEDNESDAY. March 6.-HoaSe-ln
house the Notifications appropriation
bill considered yesterday i'll committee
Of the whole, passed. The speaker then
called on committees for report.
Mr.. Franklin from the committee oil
public buildings and grounds, reported
y bill for tue erection If Il public build
ing ~ Kansas City Passed leas lG4;
nays -. MIR, Young, from the same
reported back i bill
appropriating $25O,0OO for Il fire proof
building for anational museum. Re
fcrrcd "a committee &c tile whole.
At the conclusion of the morning
hour thc speaker laid before the house
4 message from thc president, returning
without approval the house hill author
ling special term Of tie circuit court
of tile United states for the southern
district If MissiSsippi 70 hc held at
Scranton, the second Monday iii March.
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