Year: 1862

u


into a consolidated company; notice Of such


consolidation, in writing, shall be filed in


the Department of the Interior, and such


consolidated company shall thereafter pro-


ceed to construct said railroad and branches


and telegraph line upon the terms and


conditions provided in this act.


SEC. II. And be 1t further enacted, That


in case said company or companies shall


fail to comply with the terms aud conditions


of this act, by not completing said road and


telegraph and branches within a reasonable


time, Or by not keeping the same in repair
and use, but shall permit the same, for an
unreasonable time, to remain unfinished, or
out of repair, and unfit for use, Congress
may pass an act to insure the speedy com


pletiOn of said road and branches, or put


the same in repair and use, and may direct


the income of said railroad and telegraph


line to be thereafter devoted to the use of
the United States, to repay all such expeu.


ditures caused by the default and neglect


Of such company or companies Proriaca,


That if such roads are not completed, so as


to form continuous line of railroad, ready
for use, from the Missouri River to the
nayigable waters Of the Sacramento River,
in California, by the first day of July, one


thousand eight hundred and seventy six,


the whole of said railroads before mention.


ed and to be constructed under the proyi.


sions of this act, together with all their


furniture, fixtures, rolling stock, machine


shops, lands tenements and hereditaments,


and property of every kind and character,


shall be forfeited to and taken possession of


BY the United States: Rrovided, That the


bonds of the United States in this act pro-


vided to be delivered for any and all parts


of the roads to be constructed east of the


one hundredth meridian of west longitude


from Greenwich, and for any part Of the
road west from the west foot of the Sierra


Nevada mountains, there shall be reserved


of each part and installment twenty five
per centum, to be and remain in the United
States Treasury, undclivered, until said
road and all parts thereof provided for in
this act are entirely completed; and of all
the bonds provided to be delivered tor the
said road, between the TWO points aforesaid,
there shall be reserved out of every install
meDt fifteen per centum, to be and remain
10 the Treasury until the whole of the road
provided for in thi, act is fully completed
and if said road, or any part thereof, shall
fail of completion at the time limited there
for in this act, then and in that case the
said part of said bonds so reserved shall be
forfeited to the United States.


Sec. Is. 41ad he it further enacted, That
whenever it appears thereby that the net
earnings of the entire road and telegraph,
including the amount allowed for services
rendered for the United States, after de.
Quoting all expenditures, including repairs
and the furnishing, running and managing
OF said road, shall exceed ten per centum
upon its cost, exclusive of the five per cent. |
to be paid to the United States, Congress
may reduce the rates of fare thereon if un-
reasonable in amount, and may fix and
establish the same by law. And the better
to accomplish the object of this act, namely,
to promote the public interest and welfare
by the construction of said railroad and
telegraph line, and keeping the same in
working order, and to secure to the govern.
ment at all times (but particularly in time
OF WARTIME use and benefits of the same for
postal, military and other purposes, Cong
ress may, at any time, having due regard
for the rights of said companies named
herein, add to, alter, amend or repeal this
act.


Sec. 10. And Ie 1t further enacted, That
persons in possession of government lands
in the Territory of Nevada at the time of
the passage of this act, except mineral
lands, or who may by the laws of Congress
have the constructive right to the possession
Of one hundred and sixty acres of land,
should such lands be conveyed to said
road company under this act, shall have the
right to purchase the same from said com
Pany at the same price that the government
shall hx for the sale Of the adjoining lands.


SEC And be 1t further enacted, That
The several railroad companies herein named
are authorized to enter into an arrangement
with the Pacific Railroad Company, the
Overland Telegraph Company, and the CAL
ltorn'a State Telegraph Company, so that
The present line of telegraph between the
Missouri River and San Francisco NAV he
upon or along the line of said railroad and
branches as fast as said roads and branches
ire built; and if said arrangement be
entered into, and the transfer of said tele.
graph line be made in accordance Herewith
10 the line Of said railroad and branches {
'uch transfer shall for all purposes of this ,
act, be held and considered q ful6llment
u IN the part of said railroad companies Of
me provisions of this act in regard to the o
OF said line of telegraph. And '
- case OF disagreement, said telegraph =
companies are authorized to remove their