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About Oregon City enterprise. (Oregon City, Or.) 1871-188? | View Entire Issue (Oct. 9, 1874)
0 o 3 o i DEVOTED TO POLITICS, NEWS, LITERATURE, AND THE BEST INTERESTS OF OREGON. - - - - . fniuiii ff (inn tniT WiJi 4y 42 ( fill 5 'min t?f 4 VOL. 8. THE ENTERPRISE. A f.OCAL DEMOCRATIC NEWSPAPER F O II T II E Farmer, Business Man, i Family Circle. 6 ISSUED EVEKY FRIDAY. v. SOLTXEH 5 ..... i VII T TT 7? T TS JT R OFFICIAL PAPER j;OR CLACKAMAS CO. jFFirEIn Ir. Thcssing's Rrick, next j j4rto J-h Myrs" store, up-stairs. f Term f Subscriptions iY7w Cony On" Year, In Advance $2.50 .Six Months " . 4.50 Term f Adverti-tintf transient aav. ni.nnfsincludin nil l. ':il notices, s. j u.ii For each subsequent insertion Outi Column, one year mm - "ZZ.ZZZZZZ ". nir.ess Card, 1 square, on.- yar !..'" llni'H oil" W.-eK J.IM) .o"ii:rr xo rims. OKCCOX l.lR Meets every Thursday ST5i-.. Odd K.12os' Hall. Mam ..treet. Members of the Or der ire inviW-1 to attend. Uy rr HHiiiiCc.i ii;r;ii;i: i.oixi . xo. n. i. o. o. r., MeeLs t!ie jr-gTtT, See., ml and Fourth lues- LJSjjz. dav evenings eacu nioiun, .., - i. ..'.-l.-k in till- Odd I Vll uvs' Hall. MeiiilM.-i-.sof the Decree are invited to attend. AV I.T 0I AH I.OIXIli XO. I.A.I". A. M., I T. .1 ;is its regular eon- A iiniiii'-atioiis on the First aii'l Tain I Saturdays in each month, at 7 o i l " !i from thenth of Sep. t.-iiioi-r to the 'th of March; and Ti ,,',1 .--k fro in the Jilt h of March to the J'H'.i it" S ';te!ii!er. brethren in good stau ting are invited to attend. J'.y order of W. M- iwm. i:nc am!mi;s t no. t.i.o. . l. Meets at Odd Fellows' Of II ill ontli- First and Third Tin s- ,oX ,l.u- ,,f e leh m .ntli. Patriarchs vr in 40.. I st Hiding are invited to attend. ci.ivF nxc.vJisMHr no. . c. It. f M ' -t at 1 ' M F.-llo .v Hall, in re .'..ii'irv iir-'ei. oa .Muti'l.iv even i n :r, at T .ri : .';. M-m!) T.s o! In- n! r ar 111 i. , ,:t rrl. M. '. ATHKV, O. .J. x't. li ve N, R. S. Iiia-dy j: 1: s 1 x li s s v A it n s. .1 1 ilYSK lAX A.NI) si"!t(;i:ox, 1: ii ij y v 1 t r, o ji Ji a o sr. 6". HVnr-- Up-Stairs in Char man's F.rick, Mam S;r;ct. an.llll. W. W. ?il 0 11 K j A X I), ATTORN EY-AT-LAW; OKi;;0. CITY, OitKUON. OU'll'K ."lai Street, opiitc tli ( ulll't ililUM. rS. 1 1 U li: Li A T ATTORN EY-AT-LAW: ORsaan cirv, - - Oregon. ByOFFICK ("narman'shrick, Main St. ."iniarlSTJ :tf. JOHNSON & rVlcCOWaJ I mUI-YS nilNSELOKS AT-LAW. Oraon Gity, Jreon. C"?.Vill practice in all the Courts of the Staf , Special attention iriven to cases in 1 the H. S. hand tjrllc at. Oregon City. AoiiiirHTMf. L. T. 13 A II 1 1ST, ATTORN EY-AT-LAW, OH EG OX CITV, : : OR EG OX. OFFICE Over Pope's Tin Store, Main ste, 21mar73-tf. OYSTER SALOON - A X V TiET A TJ R A NIT! LOUIS SAAL. Proprietor. Main Street, - Ore-rou City. OrSTER-S WILL T,E SERVED FROM and after this date during the Winter season. The best qualities of VHCNt'H and AMERICAN CANDIES. Ic for sale in quantities to suit. TR. JOHN WELCH, DENTIST, Slg '. OFFICE IX ORECON CITY, OREGON. RECREATION! HEALTH! .Wilhoit Socln Spi-inirs ! mfUS KSTAHUSIIMEXT. SO CEIX JL brateU for the medical oualties of its watr, 1 again open for the reception of lt'-'M. i iii-y are reacneu in one clay froiD either Portland or Salem. JOHN WILHOIT, Proprietor. Jane 3d, 1S74. Ju5m4. AV. II. HI (ill FIELD. Established since '11, at the old stand. 31aiii Street. Orejan City, Oregon. . t.., Ct .in hviiiim.-.ii, ui ... u.s, . i- ,X ry.and .-eth Thomas' Weight Clocks . . D r. 1 1 f ... o m--i .-,--1 n.ii.l fit I ... O represented. Repairing done on short notice, and Vikfin tor p.ist patronage. JOHN SCHRAM, Main St., Oregon City. MAMFACTIRER AND IMPORTER OF Saddle, Harness, Snddlery-IIarri-var., .fc-., etc. WHICH HE OFFERS AS CIIEAr AS can be had in the State, at WHOLESALE OR RETAIL. warrant my poods as represented. 1,000 DEER SKINS W A 1ST T K 13, AND ALSO, VI.T. OTHER KIXHS OF HIDES, FOR which I will pay the hljrhes market price in cash I'.rinp on your hides and iret your coin forthem. JOHN SCIIRAM, Saddle and Harness Maker. Oregon City, Oregon. July 11, ls7:J-m3. JOIIX M. liACOX, IMPORTER AND DEALER in HlHlliS Shllinnr.rf l..i-fi.... erv. etc., etc. viti Oifjron City, Orrnn. ?At tTharman iv Warner's old stand ately oecuied hy S. Ackeman, Main st. FRESH h.MINE WINES, Just received and for sale by GF.OIjriE FTTGTTS, at ?1 00 per bottle. Also A tir'licn, Port, Cherry, mill S. on 011m IViiie.s. in Bottle or tjy t he gallon. opposite the Railroad I"fpot. t)reon City, Au. 7, 1S71. rU I INFORM THE CITIZEN'S OF TT ore-ron City and vicinitv that he is prepared to furnish FIR, SPRUCE AND CEDAR LUMBER, Of every descrijit ion. UllY KI.OOItI.Vt;, ( KiUXf., SJMll'CK (for shelvintr,) I.ATTIC K, PICKKTS, FEXCK POSTS (Cedar) CViirrt;uitKon 1 Imicl. Street and Sidewalk lumber furnished on t he shortest not ice, at as low rates as it enn le purchased in the State. (Jive me a call at the OKKtJOXCITV SAW J1II.T.S. Mareh l.'l, 1.S71 :tf WAQ0N AND CARRIAGE M A X IT F ICTOItY ! rpiIE UNDERSIOXED. , JL having incn-ased tlicdi- rX ineiisious of his premises, at t he old st and on t he Corner of Main sinil Third Street, Oregon City, Oregon, Takes this method of informing his old pa truns, and as many new ones as may be pleased to call, that he is now prepared, with ample room, trood materials, and the very best of mechanics, to build anew, re construct, make, paint, iron and turn out all complete, any sort of a vehicle from a common Cart to a Concord Coach. Try me. lihieksinit lii njr. Horse or Ox Shoeing and lieneral Jobbing neatlv, quicklv, and cheaply done. DAVID SMITH. OREGON STEAMSHIP GO.'S STEAMBOAT NOTICE ! Stv. K. IS". COOKE, Will 1-ave OREO OX CITY for PORTLAND every day Except Sunday,l at o'clock, A. M. Returning, will leave Portland for Oregon Citv at 2) o'clock, I. M. Rrr. ALICE, Will leave ( )RECiON CITY for CORVAET.IS every Monday and Thursday of each week. Si i DAYTON, Win lnvn ni!Fcnv riTV for MrVtVV. VI I. I.E. LAFAYETTE and DaYTON, and all points between, every Monday, Wed nesday and Friday of each week. leaves the Ilasin at 8 o'clock, A. M., and connect with the train at Canemah at 9, A. m. tSti-. ALBANY, reaves OREiON CITY for IIARRISBURU and EL'GKNE and all intermediate jxjints every week. Str. En 111 lie En 1 ton, leaves OREGON CITY for ALP.ANY and all intermediate points between twice ev ery week. J. D. P.ILF.S, Agent, Oregon City, February, 111. 871. NEW OFFERS ! NEW IDEAS ! See the Grand Gifts of Our Fireside Friend to its Subscribers. Entirely new anl unprereileided, ami smli as will interest very one. Yon inls it if yon don't sentl for sam ples mill full particulars which are sent free ! SEE THE GREAT WATCH OFFER ! OLR FIRESIDE FRIEND is now in its Fifth Volume, thoroughly established as the leading family and story Weekly in the I'nion, has the largest circulation, and the best appointed printing anil pub lishing establishment and building in the West. Is a large eight-page illustrated and original family Weekly, price ?3,00 per year, i-.very subscriber receiver a magnificent premium and a share in the distribution, Subscribe tunc WE WANT AGENTS. "?L,p.1Ls?t-on:;- Subscribe by sending $3.oi,. iiuu receive i nc pa kt one vear a. ma.mirt- cent premium, a share in i- .liCiimt?,.!; U I o nr Tsim.ii- ...-. 1.' . . and receive also Free a omplete Outfit! mm r V e want a renrosentntw-o in r.,.- .min-v.. borhood. Nothing equals It frr nnn"ts. ' now. declariCC ITS belief tha male or female, young or old. Isirge Cash CCtn, be elected. MarHs anl a Suj,rrb Outfit, exclusive ter- CQUm t-11-ritory, which is ranidlv nllin nr, f.,ct ' sell' in winrSe.s Congressman William A. Kulhard wateks&Cu:, Publishers, Chicago, 111. 1 son, of Illinois, for Vice-President. ; 'ti OREGON CITY, OREGON, FRIDAY, A Dirty Scamp. Some dirty rascal has begun the same trick against Prof. Emery, of Corvalis College, that "Timbuctoo" resorted to prior to the late election. In the former instance the attack on Rev. Mr. Dawne purported to come from Albany, when it was well known that Timbuctoo w.,s a resident of Sa lem, and a bigoted Northern Meth odist, and also an opponent to Mr. Dawne for the nomination. This time it seems to us as if the author of the letters now being published in the different papers through the State, signed "Observer," and other wise, are from some equally bigoted fanatic as the author of the Timbuc too letters. He resorts to precisely the same tactics, not by assailing the enicacy of the institution, but by attacking the character of Prof. Emery. To say the least of this mat ter, "Observer" is as contemptible as Timbuctoo, and people will gen erally regard him in that light, and in time the name of "Observer" will be held in the same contempt as that of "Timbuctoo." An honest and proper rivalry to get 'the Agricultu ral College to Salem may be right enough, but to resort to personal as saults of men with the purest and fairest reputations, is beneath the dignity of a gentleman. "We have nothing to say in regard to the re moval of the institution, but what we have said is simply as regards the dirty attacks which have been made by this "Observer,' on the personal character of Prof. Emery, whp has a reputation and character that should be beyond the attacks of such con temptible scriblors as "Observer." Frof. Emery has resided in Corvallis for the past eight years and where he is known his reputation needs no defence. He is a true Christian gen tleman and has the respect and confi dence of all who know him. The Clackamas County Senators. The editor of the States Itights Dcmorrot in his Salem correspon dence, gives the following clever notice of Clackamas county's Sena tors. HON. JOHN MIEKS, of Clackamas, sits just in front of the President's desk. He is 41 years old, was born in Missouri, and emi grated to California in 1.852, when nearly everybody else came the plains across to the Pacific. He came to Oregon in 1SG0. He held the office of Sheriff in California, as also in Clackamas county, which county he now rejiresents in the Senate. lie is barefooted on the top of his head, is a man of large frame and heavy physical as well as mental powers. Ho is endowed with the very best and most practi cal legislative sense, is a quick think er and ready debater, and when he takes the lloor and gets heated up in boxing (so to speak) he is liable to get everybody else heated up too. He is an uncompromising Democrat and is generally regarded as the lea- ! der of that side of the Senate, nex-er failing to furnish a Ilectort for the Republican Ulysses, Senator Dolph. SEXATOlt OFFIE1.I), who sits beside Myers, is also from Clackamas county, is 30 3'ears of age and by occupation a farmer. He also is a native of Missouri, and came to Oregon in 1S50. He is an un swerving Democrat, quiet, studious and concientious to a high degree, and as the session wears away and the Senatorial toga rests more easily upon him, he will make an active working member. A Good Law. Senatar Myers, of this county, has introduced a bill in the Senate to provide that the Asses sors shall assess all property within their respective counties, and that no allowance shall be made for in debtedness. This we regard as a just law. Past experience shows that the farmers and mechanics, or -what may be called the middle classes, pay a greater portion of our taxes. The businessmen or speculators, are more or less in debt when the Assessor comes around, and by sharp pract ice, those most able to pay, are sufficient ly sndebted to offset their entire property. This has been the case practically in this city. One of the most wealthy corporations in this city does not pa- a cent of county taxes this year, and has not for years past paid what it justly ought to. The present law should be amended as to read, "an act to allow rich men to avoid paying taxes," as that is vir tually what the nresent law is. Believes He Could be Elected.- Governor Joel Tarker, of Xew Jer sey, is receiving considerable notice as a Demicratic canidate for the - mi rr. , m Presidency. lue j. ronton irve American has already nominated him several times, and it does it again t ho The Latest Ticket. The latest . . , i x- i j. r .. i Presidential ticket is Governor Al- len, of Ohio, for President, and ex COURTESY OF Oregon Central Pacific Railway. A BILL For an Act providing for the con struction of the Oregon Central Pacific Railway and Telegraph line, and to provide for the carriage by Railroad of Troops and Munitions of War of this State. Whereas, A corporation known as the Oregon Central Pacific Railway Company was duly incorporated on the 10th day of September, 1874, and articles of incorporation filed in the office of the Secretary of State, in conformity to law, providing for the construction of a Railroad and Tele graph line from a point at or near Winnemucca, on the Central Pacific Hail road, in the State of Nevada (but not east of said place) , thence northwesterly to and across Goose Lake valley, and by Sprague River valley to the Middle Fork of the Willamette river in the Cascade Mountains, thence down the river on the north side to Springfield, thence crossing to and continuing upon the west side of said stream to the Columbia river via Portland, Oregon; and, Wiiei:eas, It is a matter of the ut most importance to the people- of Oregon that said road should be biiilt, and thus form a connection with the Atlantic seaboard and the intermediate States and Territories, and that the said Company should proceed with the work of construc tion at once; and, Whereas, For the purpose of es tablishing a more perfect system of guarantees and securities to the pnr-chasei-s and holders of the bonded securities of said Oregon Central Pacific liailway Company; therefore, Be it enacted Uj the Legislative Assem bly of the State of Oregon : Section 1. That there be and is hereby granted to the Oregon Cen tral Pacific Railway Company or its assigns, the right of way through any lands belonging to the State of Oregon, of the width of one hundred feet on each side of the road, and all the necessary grounds for stations, depots, shops, side-tracks, turntables and water stations, not exceeding forty acres in one place, and also the right to take from the lands of the State adjacent to the line of the route, timber, stone, water, and other ma terial necessary for the construction of said road: provided, always, and upon the express condition that the said Company shall, within thirty days after the passage of this Act, file with the Secre tary of State their acceptance of said grant, and of all the terms of each and every part of this Act, and of all the conditions herein contained to be performed by said Company, and that, upon the filing of said accep tance aforesaid, the Company shall have and become invested with, and in an absolute title to said roadway as afterward to be set apart and des ignated, and shall, in consideration therefor, be bound by all the provis ions of this Act hereinafter contained and set out. Sec. 2. And be it farther enacted, That said Company shall have the right to commence the construction of said liailway at such points as they may deem proper, and that when the President of said Company shall notify the Governor of the State of Oregon, and the Trustee for the bondholders herein named, under oath, that ten miles of said railroad and telegraph line have been com pleted, then the Governor of the State and said Trustee shall each ap point Commisssouers to examine the same, and if said Commissioners shall report that ten miles of said road and telegraph line have been completed in a good and substantial manner, and are finished with the rolling stock and equipment of a first-class railroad of the width of guage the same as the Central Pacific Railroad, then the Governor of the State shall cause tho land and right of way herein before granted, in re spect of the said ten miles, to be sur veyed, designated, and set apart for the benefit of said Company. And whenever and as often as ten addi tional miles shall thereafter be con structed and so certified to by tho aforesaid commissioners, then the lands granted and the right of way belonging to said State shall in like manner bo set apart for tho benefit of said Company. Sec. 3. And be it farther enacted, That upon the construction and ap proval of the first ten miles of said road and telegraph line, said Oregon Central Pacific liailway Company is hereby authorized to mortgage to the Secretary of State, in trust for the use and uenent oi any persons or corporations, home or foreign in this act called "the bondholders" ( who shall loan moneys to the said Oregon Central Pacific Railway Com pany on tho security of its roadwav, and real and personal estate of what ever description, by first mortgaged bonds) , said ten miles of completed road, and all the fixtures, rolling stock, and all other property belong ing thereto; said mortgage to attach to each ten miles thereafter, when ever and as often as it shall be built, en nipped and approved of as herein provided, and shall be deemed to be a sulncient lien, to an luteins ana purposes, upon the road-bed, rolling stock, and all gifts, donations am subsidies of real estate and persona property made to the credit of the company in the name of the Secre tary of State, as herein provided, or beloncrincr or which may belong to the Company in any manner or way said giity aitd subsidies subject to bo disposed oi accoraing to me concu Hons of this Act. Said mortgage shall be made to the Secretary o State in trust for the use and benefit of the bondholders, as herein provid cd, and duly recorded, and shall be filed in the 'office of the Secretary of State, and shall be deemed and taken to be a good and effectual conveyance BANCROFT LIBRARY, OCTOBER 0, 1874. of the property and rights of the company, as herein expressed, to and in favor of the bondholders, in security for the payment of the bonds, which may have been, or may be is sued, by the company, anything in the laws of the State to the contrary notwithstanding. Sec. 4 And be it farther enacted, That it shall not be lawful for the said Railway Company to mortgage said railroad and telegraph line in greater or less portions than ten miles at any one time, nor shall it be lawful for said company to issue any portion of its first mortgage bonds to the Secretary of State in behalf of the bondholders, or to the bondhold ers themselves, or their trustee or legal reiresentative, or any other person or persons until said Railway Company shall have first completed and fully constructed and equipped each and every ten miles of said rail way and telegraph line in the man ner mentioned in Section second. Sec. 5. And be it further enacted, That said liailway Company be enti tled and are hereby authorized to issue either to a trustee to be named for the bondholders or to the Secre tary of State for and on their behalf, first mortgage bonds for each and every ten miles of said Railway and Telegraph line it shall have so com pleted, constructed and equiped.but that only, to the extent of and no more than three-fourths of the actual cost price thereof, as shall be asccr ascertained by the two Commission ers named in Section second, after they and each of them have person ally examined the same and shall have filed with the Secretatv of State a joint report of their inspection, certifying to the completion, cost of construction, and equipment of each of said ten miles. Sec. G. And be it furher enacted, That for the purpose of preventing fraud, or misappropriation of said bonds, or the proceeds derived from the same, and to prevent the issuing of said bonds by the Company, to a greater extent, or for other purposes than those herein mentioned, no first mortgage bonds issued by said eom- paii3' shall be legal or valid securities unless they anil each of them are countersigned jointly by the Trustee or other legal repressntative author ized by or for the bondholders, and by the Secretary'of State. Sec. 7. And be it farther enacted, That all gifts or grants of hauls, whether from any State, or from the United States, or any county, or cor poration or individuals, or appropri ations of moneys, or guarantees for the payment of interest upon the bonds of said Oregon Central Pacific Railway Company, hereafter to be lven by the United states, or any State, corporation, company or indi viduals (except lands given or grant ed for right of way or depot pur- loses,) shall be made to the Secre tary of State of tho State of Oregon, as proper custodian ot the same, in rust only for tho use and benefit of the bondholders, as security for the imount of moneys, due by the Com- iany to them, and upon sales being made of the lands or other property, whether, personal or real, all moneys received therefor shall be paid into the State Treasury to the credit of the bondholders, to be drawn there- rom only upon warrants duly drawn y the Secretary of State or other egally authorized Trustee, or agent of the bondholders, in favor of the bondholders in payment of the inter est on the Company's said bonds, the mncipal of said bonds, or as herein after provided ; but said sales to be valid, shall m all cases be made m writing, and be countersigned by the Secretary of State, and shall also be signed by a trustee or agent m be half of the bondholders; likewise, all moneys arising from transportation and other business done for the State by the Company, shall be and remain in the Treasury of the State to the credit of said bondholders. And all moneys arising from the transporta tion of mails, Government stores and and all other business dono for the United States shall be paid into the Ireasurv ol this mate to the creuit of the bondholders. And tho Secre tary of tho Company shall be and is hereby required to draw warrants c.i the Treasury of the United States in favor of the Secretary of State of this State as Trustee of the bondholders, or as shall be otherwise required by the bondholders for all amounts as they become due and payable from the United States to the Companv for transportation or other business done for the United States bv tho Company. And upon such moneys being drawn by the Secretary o State, they shall be by him at once deposited in tho State Treasury to the credit ol tho bondholders, am shall be drawn therefrom only in tho manner herein provided in case of moneys arising from the sale of lands donated to the Company. Said mon ey shall remain in the Treasury of the State for the payment of the in terest accruing upon the bonds; am' if said reserve shall not be sufficient to meet the interest when duo am payable on such first mortgago bonds of the Company as shall have been bona fide issued to the bond holders, then and in that case tho Company shall pay into the Treaurv semi-annuallv, out ot the gross earn ings of the road, a sum sufficient to meet tho said interest as it fails due, at least ten days prior to tho time of the payment of the same. Sec. 8. And be it farher enacted, That after live years from tho final completion of 'said road the said Company shall pay into the Treasu ry of the State, to'the credit of tho bondholders, on or befcro the first days of July' and January, in each year, two per centum of' the gross reciepts from tho business of said road, other than transportation for the State and the United States as a sinking fund for tho redemtiou of said first mortgage bonds, which amount shall be immediately there after paid and transfered by the State Treasury to the Trustee or le gal representative of the bondhold ers, on behalf of tho bondholders, which payment to said Trustee or le gal representative, shall be deemed to be (as between the Company and the bondholders) , payments of like amounts of the said Company's bonds are fully paid. And if tho Company shall fail for ninety days, after notice from either the Secreta ry of State or other Trustee or legal representative of the bondholders, to make any of tho payments re quired by this Act, the said Secreta ry of State or other Trustee for the bondholders may order such part as he may deem expedient, not exceed ing one-third of the gross earning of the road, to be paid into the Treasu ry, at times to be appointed by him, until all arears are paid. And if upon such order such payment shall not be made, the Secretary of State is here by em mwered and required or such other Trustee is hereby empowered to at once commence legal proceed ings against said Company to com pel such payment or payments to bo made. And the books of said Com pany shall at all times lie open to the inspection of tho Secretary of State and of the State Treasurer or any bondholder or Trustee or other legal representative of tho bond holders, or a Commissioner appoint ed by them. Sec. '.). And be it farther enacted. That said Railway Company shall make the Secretary of State, and the Trustee for the bondholders, a semi-annual report on the first days of July and January in each year, wherein shall bo set forth 1st, The names and residences of the Directors and all other officers of the Company. 2d, The names of all stockhold ers and their places of residence, so far as the same can be ascertained. 3d, A description of the line of road surveyed, of the line thereof fixed upon for the construction of the road, the lino thereof so com pleted and accepted, and the cost of such surveys and completed line. oth, lhe amount received from passengers, during the proceeding lalf year. Oth, lhe amount recieved from 'reight for the same period. i 7th, The gross receipts of the Company from all sources. cth, A statement of the whole cost of the railroad, its fixtures and rolling stock, and the telegraph line, and tue number of its passenger and freight cars. Dtli, A statement of the whole in debtedness of the Company, for the time being, setting forth the various iinds thereof. 10th, A statement of the cost of management, and all nnauciai opera tions for the proceeding half vear. AVhich report shall be made out and sworn to in triplicate, by the President and Secretary of the Com- any, semi-anuually as aforesaid. and shall be presented at the annual meeting of the bondholders, at the innual meeting of the stockholders, and to the Secretary of State, and one copy shall be filed with the Trustee or other leiral representative appointed by the bondholders,im mediately after being sworn to, and one copy thereof shall remain in the office of the Secretary of the Compa ny, and any one or all such copies shall be subject to tho inspection of any bondholder, or other creditor of the Company, or of any stockholder, or of the duly accredited agent of any bondholder, creditor or stock holder at any time. Sec. 10. And be it further enacted, That all moneys remaining in the State Treasury, to the credit of the bondholders, at any time, greater in amount than the next half-vearly instalment of interest, shall be im mediately paid into the hands of a person, persons, or corporation, to be appointed by a majority in value of the bondholders at their annual meetings, to be applied in the re demtion of the bonds of the Conipa ny, at such times, and in such amounts, as tho Railway Company and the bondholders may mutualy. agree upon. Sec. 11. And be it further enacted, J. hat if tue said Oregon Central Pa cilic Railway Company shall within ninety days after the approval of this Act by the Governor file in the office of the Secretary of State its agreement, duly executed under its corporate seal, obligating itself to carry all the troops and munitions of war of this State, required to b conveyed on its road without charge to the State for a period of thirty years from and after the-approval of this Act, without other compensation than tho moneys arising from all the taxes assesed, levied or collected on the property of said Company, then in consideration of said obligation and services done, or to be done, for said period of thirty years, said Company shall have and receive all the taxes levied, assessed or collect ed, or which might have been col lected by this State or any county, city or school district therein upon all its property, real and personal, and said taxes uro hereby appropri ated therefoi. Skc. 12. And be it farher enacted, That the Secretary of State i hereby empowered and directed, to do and perform each and everything in this Act required, or permitted, by him to be performed, in all manner as herein specified; Provided, nhrays, That whereas those provisions of this act which empower or require the Secretary of State to act as Trus tee for tho bondholders, in certain respects, or which provide that cer tain of the moneys of tho Company, to bo realized from the sale of lands donated to it, or from subsidies from the United States, or any StatG, or accruing to the credit of tho bond holders in any other La.nner, shall bo placed in tho State Treasury to the credit of the bondholders, to be NO. 50. drawn therefrom in manner as herein specified, are herein provided solely for the special protection, by. tho State, of the interest of thd bond-" holders, and to uphold and guard' the financial reputation of the Stato' of Oregon in foreign, countries.' Therefore, notwithstanding the pow- ers conferred upon the Secretary of State by this Act, the bondholders,' or those corporations to w hom tho q bonds are to be issued, nyr and are' entitled, at any time, either beforo such bonds are subscribed by them, and as a condition of their subscrip tion thereto, or, if so subscribed, then, or at any time thereafter, upon1 a majority in value of the votes, proxies, mandates, and powers of q attorney of bondholders, at their an nual meeting in January, to elect a person, persons or corporation in thoO place of the Secretary of State, if, as Trustee of the bondholders, ho" has already had conveyed to him any real or personal property as in this Act provided to hold in trust for them; and he shall, and is hcreby required and empowered to, assign,' transfer and make over, to whomso ever the said majority of the bond holders shall, at said annual meeting, designate all mortgages, as also all property tf whatever kind, held by him in trust for the bondholders, or, in Vase no property has been so con veyed to him, "or the mortgage of tho Company, made to secure the first mortgage bonds of tho Company,; -shall not yet have been executed, at the time of the designation; of some other jerson, persons or corpo ration, to act as trustee for the bond holders, by a condition in the' sub scription to the bonds, as in thi3 Act 0 provided to be done before such. " bonds are issued, then the Secretary. of State shall have no power under this Act, to act as Trustee for the bondholders; and whether sonio other person, persons or corporation are designated by tho bondholders, as in this Act provided, to act instead of the Secretary of State, as Trustee for the bondholders, before or after the Secretary of State shall have be gun to act, such person, persons or C corporation, upon being so designat ed as Trustee for the bondholders, and accepting trust, whether 'a resi dent of the State of Oregon, or of anv other State of the United States, G or of any foreign country, hall have, in all time coming, the same powers r. m-.il vio-htj in rdl respects, for the protection and security of the bond- holders, and for the enforcement ot heir rights as against the said Rail oad Company, as are herein con ferred upon the Secretary of State;' and that the State Treasurer, imme diately after the transfer being made, us herein provided for, from the Sec retary of State to another Trustee, to e designated by the bondholders, shall pay over and transfer to the person, persons or corporation,- to' whom such transfer is made, all moneys then being in the Treasury of the State to the credit of: the bondholders. Sec. 13 And be if further enacted. That an annual meeting of the bond- lolders shall be held in the month of January in each year, to carry iato" efi'ect the powers herein conferred, and perform whatever other acts may be lawful for them so to lo, at which meeting a majority in" value of tho bondholders present, and if representatives by proxies or powers of attorney of bondholders absent (the whole so present, in person and bv proxy, to be a majority' in' inter est of the bondholders,) shall rule and regulate the acts of said meeting, which shall be held either m tho city of London, England, or in the city of Xew York, as shall have pre viously been fixed by the bondhold ers at their previous annual meeting, and shall be called by advertisement signed by tho President, six weeks previously, m the lime and. Daily telegraph newpapers of .London, England, and in the Herald and Times, newspapers of Xew York, and also in one or more newspapers in Philadelphia, Roston, San Francisco and Portland Oregon, specifying tho day, hour, and place of said meeting, as "fixed by the bondholders, except the first meeting, the day and place of which shall be fixed by the PresiO dent. Sec. 14. And be it 'urther enacted That, for the futlier protection of the bondholders' interests, they shall bo entitled, and are hereby empowered, and directed to elect two out of every eveii Directors in the said Railway Company (of which two, one shall always be Vice President of the Com- . i i r ii . . T " . i .. pany), and eacnci me two iutx-iws so elected shall have equally tho 3 same powers in voting and acting as any other Director of the Company, elected by the stockholders, and their salaries and re muneration shall bo payable out of the same fund as those'made to the other Directors of the Company. Said two Directors shall hold office for one year (but may bo eligible to re-election), and shall bo elected annually by tho bondholds at the annual meeting, specified in section 13, by a majority in value of tho votes of the bond holders there present, and the man dates, proxies and power of attorney of the bondholders absent, but thero represented by agents or proxies. Sec. 15. In accordance with this Act and for the purpose of sustain ing the financial reputation of this State in Foreign Countries, the faith of the State of Oregon is hereby pledged to cause the Secretary of State to faithfully execute and per form the duties 'imposed upon him by this Act. Sec. 10. The words "tho Bond holders," shall be interpreted to mean those persons or corporators, home or foreign, who for the time being hold or possess first mortago bonds issued by said Company in. the manner herein before provided, and the words, "tho Company," shall mean the ilOrcon Central Pa cific Railway Company," i-fi 0 zJ:r 1 f 55s - -
