Page:United States Statutes at Large Volume 12.djvu/527

 THIRTY—SEVENTH CONGRESS. Sess. II. Ch. 120. 1862. 497 Sec. 16. And be it further enacted, That at any time after the passage C¤¤¤v¤¤i<;¤ of this act all of the railroad companies named herein, and asseuting ::§`2‘:s;‘§f§;”• hereto, or any two or more of them, are authorized to form themselves may be consgliimo one consolidated company; notice of such consolidation, in writing, dmd-_ shall be filed in the Department of the Interior, and such consolidated N°"°°‘ company shall thereafter proceed to construct said railroad and branches and telegraph line upon the terms and conditions provided in this act. Sec. 17. And be it further enacted, That in case said company or _I¤°¢¤¤¤D¤¤i¤¤ companies shall fail to comply with the terms and conditions of this act, ::;;h°€h:‘;;"‘plY W by not completing said road and telegraph and branches within a reason- this aet,Co;x§:e;s able time, or by not keeping the same in repair and use, but shall permit mw, Kwthe same, for an unreasonable time, to remain unfinished, or out of repair, and unfit for use, Congress may pass any act to insure the speedy completion 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 expenditures caused by the default and neglect of such company or companies: Provided, That if said roads are not completed, so as to form a comin- Road; when to uous line of railroad, ready for use, from the Missouri River to the navi- l{f€‘;l§‘§dtt° °h° gable waters of the Sacramento River, in California, by the first day of m R cm July, eighteen hundred and seventy-six, the whole of all of said railroads before mentioned and to be constructed under the provisions 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 be taken possession of by the United States: Provided, That of the bonds of the United States in this act: provided to be delivered for any and all parts of the roads to be con- qywsmy ve structed east of the one hundredth meridian of west longitude from percent.o£mpds Greenwich, and for any part: of the road west of the west foot of the §;;";°,‘}°bl~}’c_ *1*** Sierra Nevada mountain, there shall be reserved of each part and instal- wv8d_ ment twenty-five per eentum, to be and remain in the United States treasury, undelivered, until said road and all parts thereof provided for in this act are entirely completed; and of all the bonds provided to be delivered for the said roael, between the two points aforesaid, there shall be reserved out of each instalment fifteen per eentum, to be and remain in the treasury until the whole of the road provided for in this act is fully completed; and if the said road or any part thereof shall fail of completion at the time limited therefor in this act, then and in that case the said part of said bonds so reserved shall be forfeited to the United States. Sec. 18. And be it _/éeriker enacted That whenever it appears that the _ Wh? Uid 6421- uct earnings of the entire road and telegraph, including the amount al- Qgizéa ,2;, Her °‘ lowed for services rendered for the United States, after deducting all cent., Congress expenditures, including repairs, and the furnishing, running, and manag- ‘§;“°° um ing of said road, shall exceed ten per centum upon its cost, exclusive 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 interest 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, Congress may, at any time, having due regard for tlie Act maybe rights of said companies named herein, add to, alter, amend, or repeal this altered, &¤. act. Sec. 19. And be ilfurther enacted, That the several railroad companies Arrangements herein named are authorized to enter into an arrangement with the Paciiic gg ;*:fg'*Ph Telegraph Company, the Overland Telegraph Company, and the Cali- P ' fornia State Telegraph Company, so that the present lme of telegraph between the Missouri River and San Francisco may be moved upon or von. x11. Pun.-63