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DEVOTED TO POLITICS, NEWS, LITERATURE, AND THE BEST INTERESTS OF OREGON.
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fniuiii ff (inn tniT
WiJi 4y 42
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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.
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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,"
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