Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-01-22
WASHINGTON.


Senatss EA0unAss Bni.
WAsHN0ToS, Jan. q. Senator Ed
munds' bill 10 amend the Pacific z al
way Act, Of July lst, 1862. and the Ac
Of July I'd, 1864, aud Of Ma, 7,h. 1873
which provided for the settlement o.
claims growing ont of the issuance oil
bonds and the construction of the rail
roads mentioned in the Act. and for 80
curing to the Uuited States the In
debtedndss OF said companies, author
lzes and directs the Secretary Of tbs
Treasury 90 ascertain the amount of in
debtedness OF the several railroad com
paniea on which subsidy bonds of tn
Tilted states were advanced in aid oil
construcsion of Pacific RAILWAYS and
branches, and to add to the principal
sum In said bends all sams paid there
on ~ interest, first, however, deductine
eherefrom the amounts held
in sinking fund or reimbursed e
tho United States by services.
or otherwise, up to and including
all interest due and payable "a
said date. and BY com puting the then
present vslae of said Indebtedness from
said date to the average date, when said
subsidy, bonds and indie .tedness there
after to soorue shall become dne and
payable at interest ut the rate OF three
per cent. annually. Il also provides
that the several companies which re-
ceived subsidy bonds from the United
States in aid Of the construction Of said
Pacific railroads and branches, or the
sue cessOrs, by combination or other
wise OF said companies, be authorized
AL a.. k. III,
70 the Secretary Of the Treasury, who 10
by the bill authorized TO receive the
same, bonds for the redempt on of each
bearing date from the LIST Of October,
1884, 20 an aggregate amount equal
to the Indebtedness ascertained and
as above, to which shall
be added interest thereon at the rate of
three per cent per annum to accrue
upon the said sum 90 ascertained to the
average maturity Of said bonds, and
each Of said bonds shall be- for an
amount equal to the 0ns-twentieth p art
OF said debt and interest SO ascertained.
1t provides that said bonds shall be paid
in any lawful money,
bonds or obligations, ~ part on the LIST
Of April, 1856, a second on the LIST of 90
tober, and 30 forth on the first days Of
April and October Of each year unt /
ali of said bonds have been fully paid;
and each of said bonds respectively
when paid shall be thsreupOn sur
rendered to said company that
said bonds ON redemption shall be
by and on behalf Of the Unit
ed states in lieu Of the claims and lie
mands Of the acts of 1862, 1864 and 1878;
provided, however, that no money b.
paid the companies or either of them
from the United States Treasury for or
on account Of services rendered the
United States over or upon railroad or
telegraph lines of said companies, or
over or upon any railroad or telegraph
line owned, leased or operated by said
or either of them, until the
bonds nearest maturity be fully paid,
and no excess over the kayment of said
,urrent bonds shall be paid said CON-
panies. Il provides, however, that all
Iums due said companies for services
from and after the lst Of Dc
|ober, 1884, DO carried upon the hooks
IF the Treasury Department a. soon AS
The same are audited, together with in
|sreet at 3 per cent. per annum.
IL provides that the statutory liens
created by virtue of the acts Of July lat,
1862. July 2nd, 1854, and May 7th, 1878,
20 secure the repayment Of the subsidy,
bonds aud interest thereon shall re-
main a security for the payment of
he bonds. 1t also provides, however,
hat any companies shall be entitled at
any time 10 antici pate the payment and
discharge of any said bonds, aud to
hat end declares that it shall be lawful
Tor the companies to issue and dispose
1f their respective bonds to the aggre
gate amount Of their bonds for redemp-
lion, which may remain outstanding
aud unpaid On account Of first mort
page bonds. 90 AZ TO bear less rate of
interest and run for such time as is
leomed expedient, and to secure same
~ mortgages upon their respective rail-
oa1 and telegraph equipments, fran
lhises and property, and from the pro-
'eeds to take up the outstanding first
mortgage bonds, and such bonds for
redemption in installmsnts Of not less
han ten such bonds each, 40 long as
hat ndmber remains.
The bill provides further that so long
10 the companies, respectively, keep the
abroad and telegraph lines, for the con-
truction of which the subsidy bonds
vere issued, in repair and use, they ]
hall at all shines transmit kilograms
,ver the telegraph lines and transport |
nails, troops, munitions of war and
upplies and public stores ON the rail |
rays for the Government whenever re-
uired 10 do 30, for reasonable rates of
not TO exceed the |
mounts paid by private parties for the |
anne kind of service, and thsy shall |
i've the Government preference in the |
81 Of the same. and shall make punct- |
al payment Of bonds for redemption,
o other or further sums being de- |
handed Of them, and none of the PEN |
lties provided n the acts of 1862. 1864 |
nd 1873 being incurred by or enforced |
Rainst them, hut all such payments,
penalties and liabilities |
not deemed due or payable |
ntil default by some provisions Of |
his bill, be made and continued six |
,ouths, in which clse they stand re-
ived and co.. tinue for the same extent |
. IL this act had not passed.
Il also provides an accept moe Of the |
srms, il the bill should he enacted, |
hall be held to be an acceptance II the
OF of May, 1873. passed in amendment
D the acts Of 1852 aud 1864, aud that |
urther acts shall take effect on each Of |
be companies referred to. or cir sue
essors, upon its accept moe. under the
or ,'orate seal OF said companies, signed |
y the secretary. bcing filed and de- !
osited with the Secretary Of the Teas
~.
Ne00aasiess.
The President nominated A. s. |
vorthineton fnr Uuited States Attor- |
sy for the District Of Columbia New
on Il. B,rber. Corvallis. Oregon. and
fichasl A. Flanagan, Fort Benton,
dOntana. for Postmsst,rs.
The Mexlcaa Treaty.
The action Of ths Senate today upon
|snator Van Wyck's resolution tn con-
ider tho Mexicsn treaty in open $685.
ion, does not reach the subieos which
J the matter Of the resolution. bat sim
" removes Il from public TO secret aes
ion, where adoption or rejection will de-
efmine whether the treaty itself vii be
considered with open or closed doors-
The treaty was not taken mp today. and
probably will not h until its friends
eel confident OF success. They are said
o have made no progress % TAR. Two
u the absent Senators are reported ~
ssard frOu upon the subject one de-
,lares himself in favor Of the treaty.
md the other. mispsired BY his friends
n being In favor Of the treaty, declares
. T.