Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1894-01-04

sympathy with government ownership |
aud operation Of railroads, telegraphs,
etc. PED.
THE PLAN.
believing that the immediate con-
struction Of q railroad from the Gulf
Of Mexico to tho British line, running
through the states Of Texas, Okla
homa, Kansas, Nebraska, North and
South Dakota, with an arm travers-
Ing Arkansas, Missouri, Iowa and
Minnesota, to be built by the people
and operated in their interest, is Of
vital Importance to the material vel
fare Of these states and is practicable.
Therefore, for the purpose Of putting
the matter in business form we do
hereby recommend that this conYenr
ton proceed to select board of pro-
vislonal directors consisting Of eleven
members, one from each of the said
states, also chairman at large, who
shall serve until their successors are
selected and are qualified as hereafter
provided, who shall be paid for &C.
tual and necessary expenses, also $8
per diem while in actual service.
They shall proceed at once to secure
the necessary chattels for the con-
structlon Of said roads, together with
such laterals and feeders as may from
time to time be necessary, also neces'
sary telegraph, telephones and ex-
press lines,
"The charter shall run to said pro-
visional directors in trust for the peo-
pie of the states and territories
through which said lines run, and
shall provide that under no clrcum-
stances shall said charters ever pass
into the hands of any corporation or
individual, Any attempt to so trans
fer them shall cause them TO escheat
to the several states through which
they run, provided that tho United
States government shall have the
right to purchase them at any time
for actual cost.
l Said directory shall elect a secre
tary and open an Office at once anC
! proceed to procure moneys and make
survey, and at the earliest possible
date secure right of way and beglr
, construction. They shall also estab
lish bureau Of information and pub
llsh full and reliable information re-
! garding the work proposed to be
done, it advantages aud progress, and
attend to have the subject brought
, before the people at once to the emo
that Legislators, congressman, execu'
! tive, county, municipal and judicial
officers may be elected favorable tc
the plan; also to bring the matter
clearly and systematically before the
legislatures of the several states in
, terested ut their next sessions and
J urge favorable action thereon.
) 1.-The charter shall provide that
! when ever the legislatures Of five OF
more Of the said states interested
shall have made it the duty Of the
railroad commissioners of their re-
: spective states to assist in the joint
management of the road; then the
= provisional directors shall turn over
. the entire works and oil the property
, accumulated hereunder to them, il
(: trust for the people.
"For the purpose of pushing the
work, securing right Of way and
: grading, construction bonds may be
issued at par, to an amount not to ex.
) coed the actual cash cost of the worl
done and property accumulated; said
bonds shall be in denominations oil
: five dollars and multiplies thereof up
to 500, and shall draw four per cent
interest and be payable at the option
Of the management and shall at all
times be receivable at par value plus
five per cent premium for all freight
, and passenger traffic. They may run
to bearer or be registered at option
of holder, These bonds shall be Of
fcred to cities, towns, counties or in
dividuals along the line Of the road
"For superstructure, rolling, stock,
stations, etc, bonds shall be issued
which shall run forty years at 4 per
cent, interest payable semi-annually,
and be payable after 20 years. They
shall be first mortgage bonds, shall
be offered first to the custodians Of
the school funds of the said states
with the understanding that the net
revenue of the road after extinguish-
ing the construction boids, shall re-
80 - v,o.v,oI,y;fy W Tho eohool funda