The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1878-10-16
Minnesota State Railroad Bonds.
2Fuu Text OF Law to be Submitted ia aVOt1
the People az the coming ELECTION.
CHAPTER az.


n. CHAPTER IS. 4
AN ACT to provide for the recovery and de.
struction Of what are commonly known as
Minnesota State railroad bonds. and the
payment OF certain claims incurred in the
building of certain railroads for which said
bonds were issued. 'N
WHEREAS, There is outstanding a large
number OF documents commonly known as
Inc minnesota State railroad bonds, the valid
lty Of which the people OF the State do not re.
cognize, but which It's desirable should be re.
covered to the end that the same may be dc.
stroyed, therefore. = - :
BE u enacted by the Legislature of lthe State
OF Minnesota: "
Section /. All lands donated to the State Of
Minnesota Tor the purpose OF internal i'm
thousand acres of internal improvement lands
ana the funds arising from the sales of said
lands, shall be disposed of in the manner pro-
ylded for in this act for the purpose OF recoy-
erlng the said bonds and the satisfaction of
sald claims, to the end that the same may be
destroyed. But this act shall not be construed
as IN any manner preventing the sale of said
lands under the existing laws .S,.
Sec. 2. On and after the first Monday in
July, A. u. one thousand eight hundred and
seventY-nine Q879) the commissioner of the
State land office shall be ready to exchange
said lands lor said bonds and said claims, at a
rate and proportion that shall make the
whole of said lands equal TO the whole amount
OF said bonds and claims together with the
with the advice and approval of the Governor,
shall adopt such rules and regulations for ex-.
changing the lands for the said bonds and
clalmss as shall as nearly as practicable secure
to the holder of each bond and claim, an equal
chance for choice OF lands for each bond and
claim deposited for such exchange, on or be.
fore said first Monday in July, A. D. one thous.
and eight hundred and seventy-nine (1S79)
All bonds presented for exchange after said
date shall have choice of lands in the order
presented. Deeds of conveyance of said land
so exchanged shall be made in the manner
now provided by law in case of the sale of
said lands.
Sec. 3. The commissioner of the land Office
shall cause notice to be published in two
daily newspapers at the State capital, and in
one daily newspaper in each of the cities of
Boston, New York, Philadelphia, Chicago
and milwaukee, giving a general description
and the location Of said lands, and the time
and manner that the same will be exchanged
for said bonds. He shall also cause such notice
to be mailed to every holder of said bonds, SO
far as he shall be able to obtain the address of
the same. Such publication and mailing of
notice to be not less than two months before
said first Monday in July A. D. one thousand
eight hundred and seventy-nine (lS79).
Sec. 4. The land so exchanged for said
State railroad bonds and claims shall be free
from taxation until sold, or contracted to be
the grantees of the State or their legal repre-
sentatives. But such exemption from tax
alton shall not extend beyond seYen years
from the first day of July, A. D. one thousand
eight hundred and seventy-nine (1S79).
Sec. 5. The funds and securities derived from
the sale of the internal improvement lands
shall be regarded and treated for the purpo-
ses Of this act as equal to the number of acres
OF land from which derived, and the holders
OF said lands and claims may in the order of
their choice, take the proper proportion of
said funds and securities in place of land. All
money received from stumpage of Said inter-
nal improvement lands shall be apportioned
to the land from which derived, and shall 20
with said land as a part thereof. The State
any excess in number of acres ofland to which
bond would be entitled over and above legal
subdivisions of said land, and when said certi-
icates are surrendered in amounts equal to a
legal subdivision of land, they shall be received
in exchange for the same
Sec. e. A complete record of all bonds and
claims surrendered shall be kept by the land
commissioner, and the name and address of
the person from whom received. All such
bonus shall be destroyed by fire in the pres
ence OF the Governor and attorney general
who shall attest the fact of record.
Sec. z. The claims or judgements of Nc
Donald & Graham, and of Fitz, Grendall &
Keepers, as recognized and set forth in chap
ter one hundred and tifty-two (152), on page
three hundred and lightweight 1857 of spe
cial laws of eighteen hundred and sixty-sev-
en- (1S67), and the claims hereinafter speci-
fed, shall be regarded and treated the same
as an equal amount of said State railroad
bonds and be received the same in exchange
for said lands
Sec. 8. There shall be a commission ap-
pointed by the Governor consisting of three
claims presented by persons who did the
work or furnished supplies or materials for
the building of the railroads for which such
bonds were issued, and which were never
paid for by the contractors Or sub-contractors
under whose charge the same were done and
furnished, and which claims are evinced by
some order, acceptance, book account or
other writing, and for such claims as shall be
valid and unpaid, said commission shall is
sue numbered certificates for such indebted
ness and such certificates shall be received
the same basis as the bonds and for
the purposes contemplated by this act, but
no claims shall be received from contractors
or sub-cOntractors under any railroad com
pany.
Sec. 9 Such commission shall advertise in
at least three of the State papers having
greatest circulation, during period of two
weeks, where and at what time they will hear
and ascertain such claims, such places being
OWatonna, Winona and st. Paul, and shall
make their report to the Governor by the first
day OF March, A. D. one thousand eight
hundred and seventy nine QS79), giving a
detailed account of the amounts of such
claims allowed. Such commission shall each
be allowed compensation of five dollars per
day and ten cents per mile for each mile &C.
tualy travelled in going to and returning from
the places appointed for the meetings of said
commission. Provided, that such commits.
sion shall not be allowed compensation for
more than twenty days in the adjustment of
said claims.
Sec. 10. This act shall be submitted to a
vote of the people al the next general election
in November, 1878. The ballots for the adop.
ton of this act shall be "For the recovery
and destruction OF the railroad
bonds-Yes." The ballots against the
adoption of this act shall be ''For the recovery
and destruction of the railroad bonds-No'
The returns of the election on the question
shall be made and the result ascertaineu in the
same manner provided by law for the election
of State officers. If majority shall have voted
for the measure, the Governor shall make
proclamation of the adoption of the same
Sec. IL. This act shall take effect from and
after its passage. .s.-.-s-- .-.
Approved March 9, 1875 .-. ...-4 ..5.
Chicago Produce Market.
GRAIN-Winter wheat higher; No. 2 85hO86c
closed steady outside No. spring active and higher