Page:United States Statutes at Large Volume 29.djvu/296

 266 FIFTY-FOURTH CONGRESS. Sess. I. C11. 372. 1896. of its gross earnings under this franchise upon its traffic for the preceding year derived &·om the operation thereof within the District of Columbia, which amount shall be paid to the collector of taxes at the times and in manner that other taxes are or may be payable, and subject to the same penalty in case of arrears; and the franchise and property of said company, both real and personal, to a sufficent amount, may be seized and sold in satisfaction thereof in the same manner as is or may be provided by law for the sale of other property for taxes, and said per centum of its gross earnings shall be in lieu of any and all assessments upon its personal property in the District of Columbia used solely and exclusively in the operation and management of said R¤·¤¤•¤*•· railway; but its real estate in said District shall be taxed as other real P~¤iw· estate therein: Provided, That its tracks, machinery, and devices shall ..£.”i’L$}°°‘°°°"°°°'“l not be considered real estate for the purpose of taxation. nmminpm. Sec. 10. That the said company hall, on or before the tirst day of February of each year, make a report to Congress, through the Commissioners of the District of Columbia, of the names of all the stockholders therein and the amount of stock held by each, together with a detailed statement of the receipts and expenditures from whatever source and on whatever account for the preceding year ending December thirty-first, and such other facts as may be required by any general law of the District of Columbia. The report shall be verified by the ailldavit of the president and secretary of the company, and if said report is not made within the time speeiiied herein said company shall be liable to a iine of ilve hundred dollars, to be recovered in any court of competent jurisdiction at the suit of the Commissioners of the Dis~ triet of Columbia. semi., m. . Sec. 11. That the said corporation may issue bondsor other evidence ‘ ‘ of debt,tobe secured bymortgageof itsrailroad properties and fran- . chise within the District of Columbia, or by deed of trust thereon, but Lk1g_ not to an amount greater than the cost of construction and equipment. It may own, purchase, lease, and sell real estate for the purposes of operating said road. ‘ 0¤¤:¤;,¤¤w¤¤¤¤¤¤ Sec. 12. That said company shall commence the construction of its °°""’l °”' said railway within six months from the approval of this Act, and said railway shall be open for traiiic, with its switches and turn·outs, and with cars running thereon for the accommodation of passengers, within one year from the date of the approval of this Act. Deponiwrzummy- Sec. 13. That the said railway company shall deposit with the collector of taxes, District of Columbia, the sum of one thousand dollars, within sixty days from the passage of this Act, as a guaranty that it will commence and complete its road within the time herein limited. And unless said sum of one thousand dollars is so deposited within sixty days from the passage of this Act, all rights, franchises, and privileges hereby granted shall immediately cease and determine, and raise. this charter shall be null and void. Should the said railway company tail to commence or complete the construction of its road within the limit of time prescribed by this Act, said sum of one thousand dollars shall be forfeited by the said railway company, and shall be deposited by the collector of taxes with the United States Treasurer to the credit of the United States and the District of Columbia, in equal parts. nsguamms. Sec. 14. That the Commissioners of the District of Columbia may make such regulations as to rate of speed, schedule for running cars, mode of use of tracks, and removal of ice and snow as, in their judg- · _ Penalty rm- mai. ment, the interest and convenience of the public may require. Should “'¤· the servants or agents of said company willfully or negligently violate such an ordinance or regulation, said company shall be liable to the District of Columbia for a penalty not exceeding five hundred dollars. ~¤¤¤·1¤¤¤¤¢- S20. 15. That Congress reserves the right to amend, alter, or repeal this Act. Approved, June 8, 1896.