The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-04-23
THE PACIFIC RAILROAD BILL.
Morgnn's Minority Report submitted
10 the Senate.

Washington City. April Ex-senator
Morgan has made public hts minority
amendment to the report OF the senate
committee on Pacific roads on the fund
ing bill Morgan calls his bill "a bill re-
iaiing TO the jurisdiction OF The court OF
appeals OF the District of Columbia" To
missouri Is given By bill Jurisdiction over
all suits brought by the United States
TO enforce liens on railways or other prop
eriy of railway corporations. or separate
liens on different railways In the same
suit may be enforced when such railways
form or We're part of through line or
general system. Holders OF liens on any
railway property may be made parties to
the suits.
Morgan's minority report as read in the
senate today also provides amendments
to the bill as follows:
First-To provide for the refunding OF
first mortgage bonds and subsidy bonds of
the Union and Central Pacific railroad
companies in per cent. bonds TO run for
thirty years and subject TO call at pleasure
of the government.
Second-To provide for sinking fund
to pay such refunding bonds out of the
net receipts of the companies.
Third-To provide for the priority of
the United States in the payment of any
sums that such company owes to the gov
eminent out OF the net receipts of such
company. without deduction from the
sinking fund.
Fourth-To provide for taking possession
of the property of every kind and the
franchises of each company upon any de-
fault of said companies, such property and
franchises to inure to the United States.
Fifth-To remove the presidents, vice
presidents and treasurers of each OF said
railroads companies. and TO provide for
the exercise OF their powers by officers
appointed under the act to be reported by
the committee. under these instructions.
Sixth-To provide for a board of di-
rectors to direct. control and manage said
companies, who shall act for each COM
pany. but shall operate the two railroads
and their branches as one continuous sys-
TEN, snch directors TO be appointed by
the president of the United States and
confirmed by the senate and to exercise
all the powers OF the present board.
Seventh-To provide for the proper ad-
justment and partition of the income and
expenses of each road in all matters re-
lasing TO through transportation from one
road upon the lines of others.
Eighth-To provide for the appointment
OF treasurer for each road by the presi-
dent OF the United States by and with
the advice and consent of the senate and
the manner of their accounting.
Ninth-To provide for the payment OF
the debts OF each of the companies out
debts owing to the United States.
Tenth-To provide for cancellation of the
stock Of each company and a reissue OF
stock graduated according 10 the actual
value of the property of each company.
Eleventh-To provide for the continu-
ance Of the control of congress over the
two companies and their property. under
the corporate powers and systems now
existing. or as congress shall otherwise
direct.
Tweifth-To provide that any lawful
debts or damage incurred by either COM
pany In the course OF business shall be
charged TO the account OF such company
and deducted from the gross earnings of
such company. but no debts shall be Great
ed by the directors, agents or employees OF
the companies. nor shall any damages
arising out Of their conduct become a
debt. obligation or liability Of the Unit
ed States