Page:United States Statutes at Large Volume 33 Part 1.djvu/778

 FIFTY-EIGHTH CONGRESS. Sess. III. Ch. 453. 1905. 69] First, to the necessary operating expenses, including reasonable expenses of the corporation; second, to the necessary and ordinary repairs of said railroad and its equi ment; third, to such betterments and extraordinary repairs of said railroad or equipment as may be first by the governor-general of the islands, in writin, ex ressly consented to;_fourth, to the payment of the interest on thelondd, the interest on which to ang extent shall have been guaranteed by the Philippine govermpent un er tlps section. hal ‘ e contract o guarant s l be in substance indorsed u n said E*°°“**°“ °€ ¤'°”· bontds qndf signed py qhsuheasnjéer of sg government, andlthe said ®w§; :1;** iii; con rac o guaran y s not execu except u n satisfacto "’ ° ° proof of the completion of the railroad in sectibns Bi not less thaliii miummemwd · twenty continuous miles each, and in such proportion, to be Gxed from time to time by said government, as the actual capital invested in completed road and acquired equipment shall bear to the capital required or the completion and equipment of the entire road, to be determined by the said government. _ All payments made under any such guaranty shall be from the time N§j°" ‘°' **‘*°"°•* the same are paid a lien upon said railroad and its propert then owned ` and thereafter to be acquired subject only to the lien of flue mortgage or deed of trust executed to secure the bonds, the interest upon w ich shall have been so guaranteed, and the total sum paid under such guaranty shall at the expiration thereof be payable to said Philip ine government upon demand, and in default of such payment the saiddien D°““"*· shall be ixjlmgqliaately foreclosealpilpi h 1  _ IPr °, t in no event s thetota annua contin ent iabilit of said government under the guaranties authorized b  section ayt zuamriiuniyod mmmm ang time exceed the sum of one million two hundred tliousand dollars, ‘ an no such guaranty shall continue for a longer period than thirty ears. y For the further security of the Philippine government said overn· m§§s¥’°;§fi°“ °"°* ment shall declare the roper rules for ascertaining clearly the cash ’ capital actually investedsin said railroads and the net income actually received on said capital o invested, and shall provide for supervision by said Philippine government, through the auditing, engineering and railroad bureaus thereof and by such other agencies as may be fixed bylaw, of the conduct of the linances of the road, and of its location, construction, operation, and maintenance. The Philippine government shall appoint two members of the board N,‘;{’,*,2_'f*“‘m°”‘ °‘ ‘"‘ of directors of any undertaking company the interest on whose bonds _ shall be guaranteed as provide in this section. Each such railroad company shall_ make such reports from time to migsggggugjmgggipln time as to its receipts and expenditures, in such orm and substance and sworn to by suc officials, as may be prescribed by the Philippine government. _ _ _ _ _ The supreme court of the Philippine Islands shall haye original and cjgyfcgfepgfgg exclusive jurisdiction in all actions, proceedings or suits at aw or in mas. equity brought bv the Philippine government against any person or corporation involving the construction of this section or any right existing under., duty enjoined or act prohib1ted_by said section or any contract made in pursuance thereof; and jurisdiction is hereby vested in the supreme court to make such order, to enter such judgment or decree and to take such proceedinfgs in enforcement thereoflas may be proper. Dnrin the vacations o said court the chief justice or any judge thereof shall have all the power to grant restraining orders, orders of injunction, to appoint receivers, or to do any other act under authority herein granted, that a judge of a court of general jurisdiction may do in the vacation of court. _ _ F hi Section seventy-four of an Act entitled "An_Act temporarily to `,gf§2';f%¤¤ rovide for the administration of the affairs of civil government m_the Philippine Islands, and for other purposes," approved July first, nine-