Page:United States Statutes at Large Volume 34 Part 1.djvu/342

 312 FIFTY-NINTH CONGRESS. Sess. I. Ch. 3441. 1906. the compensation offered therefor, the said Standard Telephone Company (Limited) may institute condemnation proceedings in the circuit court of the first circuit of the Territory of Hawaii, which is hereby empowered to hear and determine such condemnation proceedings. °* °“‘°’ "Sec. 12. The said Standard Telephone Company (Limited) shall have the right to take over, either by purchase or lease, any or all of l the propert, real or personal, rights, privileges, and franchises, of any other telephone company, and shall have, when so acquired, and may exercise all the rights, powers, privileges, and. franchises of such company, whether the same be derived by charter, Ibly mpnicipal authority, b act of the legislature of the Territory of awan, or by the United Slates Congress. All franchises and property thus acquired _ shall be subject to all the conditions and limitations of this act. I'*"°"*°"¤°*- "SEc. 13. The said Standard Telephone Com ny (Limited), when- ‘ ever from time to time it shall be deemed expediznt in furtherance of the objects by this act authorized, shall have the power to borrow _ money and to secure the payment thereof with interest agreed upon by mortgages of all or any portion of its pro§rty, which may include the franchise, and any such mortgages may issued, if it be deemed advisable, in the form of mortgage bonds; such mortgages or trust deeds may, in addition to the property named above, cover also any property or lproperty rights to be acquired after their several dates. as well as the income and receipts of the property from whatever source derived. Such mortgages and trust deeds may also contain such ‘provisions as the said Standard Telephone Company (Limited) may eem advisable and proper for the protection of all concerned, ‘ relative to pa ment of interest and principal, possession and operation of said telepllone system or other property, default, remedies, foreclosures, powers of mortgagees or trustees in the matter, and all and eyery other matter which may be deemed wise and proper to insert t erein. ‘ “'°'- "SEc. 14. The said Standard Telephone Company (Limited) shall pay to the government of the Territory of Hawaii a tax of two and onealf per centum of its gross receipts from and after the expiration of two years from the date of the approval of this act by the Congress of the United States. Such payments shall be made quarterly. ·*"““°"'“· "Suc. 15. In case of purchase, lease, or acquirement of the property of any other telep)hone company, as lprovided in sections three an twelve of this act, y the Standard Te ephone Company, then and in that case the tax provided for under section fourteen of this act shall be paid to the erritory from the date of such purchase, lease, or acquirement. °°“¥‘l°“°“·°‘°· "SEc. 16. Such portion of the general telephone system re uired for a general public "service as is to be o rated in underground conduits, and wit in one·half mile radius ofplthe point designated in section two of this act, shall be completed and in operation within two {Tears from the date that this act is approved by the Congress of the nited States; and if the said Standard Telephone Company, or any other person or corporation claiming under this act, shall fail to comply with the provisions of time limitation as expressed in this section, then and in that case all rights under this act shall be forfeited, and the privileges hereby granted shall forthwith cease and determine. B"·°'• “Sec. 17. Any person using the telephone instruments of the Standard Telephone Company shall be liable to pay for the use of such mstruments at the following rates, namely: "(a) Residences situated at such distancesfrom the central office of the company as to require not more than five miles of constructed line, not more than two dollars and fifty cents r month; “‘(b) Places of business situated at suclixdistances from the central ollice of the company as to require not more than five miles of constructed line, not more than four dollars per month;