Year: 1866

Sec 49, And be it further enacted, That
whenever it appears that the net earnings of
the entire road and telegraph, including the
amount allowed for services rendered for the
United States, after deducting all expendi-
tures including repairs, and the furnishing,
running, and managing of said road. shall
exceed ten per centum upon its cost, exclu-
sive of the five per centum to be paid to the
United States, Congress may reduce the rates
of fare thereon. if unreasonable 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 in
terest and welfare by the construction of said
railroad and telegraph line, and keeping the
same in working order, and to secure to the
government at all times (but particularly in
time of war; the use and benefits of the same
for postal, military and other purposes, Con
gress may, at any time, having due regard
for the rights of said companies named here
in, add to, alter, amend, or repeal this act.
Sec 49, And be it further enacted, That
the several railroad companies herein named
are authorized to enter into an arrangement
with the Pacific Telegraph Company, the
Overland Telegraph Company, and the Cali
fornia State Telegraph Company, so that the
present line of telegraph between the Missouri
River and San Francisco may be moved upon
or along the line of said railroad and branch
es as fast as said roads and branches are
built and if said arrangement be entered
into, and the transfer of said telegraph line
be made in accordance Herewith to the line
of said railroad and branches, such transfer
shall, for all purposes of this act, be held and
considered fulflment on the part of said
railroad companies of the provisions of this
act in regard to the construction of said line
of telegraph. And, in case of disagreement,
said telegraph companies are authorized to
remove their line of telegraph along and upon
the line of railroad herein contemplated
without prejudice to the rights of said rail-
road companies named herein.


Sec 90. And be it further enacted, That
the corporation hereby created and the roads
connected Herewith, under the provisions of
this act, shall make to the Secretary of the
Treasury an annual report wherein shall be
set forth


First. The names of the stockholders and
their places of residence, so far as the same
can be ascertained;


Second. The names and residences of the
directors, and all other officers of the COM
pany;


Third The amount of stock subscribed,
| and the amount thereof actually paid in;
Fourth. A description of the lines of road
surveyed, of the lines thereof fixed upon for
the construction of the road, and the cost of
such surveys;


Fifth. The amount received from passen-
gers on the road;


Sixth. The amount received for freight
thereon;


Seventh A statement of the expenses of
said road and its fixtures;
| Eighth. A statement of the Indebtedness
of said company, setting forth the various
kinds thereof Which report shall be sworn
to by the president of the said company, and
shall be presented to the Secretary of the
Treasury on or before the first day of July in
each year.


Approved, July 1, 1862.