million of dollars, with interest at the rate of seven per cent. payable semi-annually, in the city of New York, which bonds are to be for one thousand dollars each, and substantially the form hereto annexed. Now, therefore, this indenture witnesseth that the parties of the first part, for the better securing the payment of the principal and interest of so many of said bonds as may be issued and sold by the party of the first part, each and every of them, and also in consideration of one dollar in hand, paid by the party of the second part, at the ensealing and delivery of these presents, the receipt of which is hereby acknowledged, have granted, bargained and sold, released and confirmed, and by these presents do grant, bargain and sell, release, convey and confirm unto the said party hereto of the second part, and his successor in office, all and singular the lands hereinbefore described, together with the said SouthWest Branch Railroad, and all the lands, rights, easements, franchise, appurtenances, as well as the same may be and exist, at the date hereof, as on all additions, improvements, erections, constructions and appurtenances, added to the same after the date of the said mortgage, to have and to hold all and singular the railroad, lands and premises hereby granted and intended to be granted, and each and every part and parcel thereof, with the appurtenances, unto the said party hereto of the second part, and his successor or successors in office forever, for the use and purpose in this indenture set forth and declared. Provided, always, and this indenture is upon the express condition that if the said parties of the first part shall well and truly pay or cause to be paid to the holder of said bonds, and every of them, the principal sums of money therein mentioned, according to the true intent and meaning thereof, with the interest thereon, according to the terms and conditions thereof, then, and in that case, this indenture shall cease, determine, and be utterly void. But in case of the non-payment of the said interest and principal on each and every bond, so as aforesaid issued, then and in that case this indenture shall be in full force and effect, and the party of the second part shall proceed to sell and dispose of all the estate, rights, franchises and appurtenances hereby conveyed and intended to be conveyed, according to the laws of the State of Missouri, for the foreclosure of mortgages on real estate, consistent with the provisions of the act of Congress donating the same, of 10th June, 1852; and upon such sale the purchaser or purchasers, upon the payment of the purchase money, shall become fully seized, free of any equity of redemption, of all and singular the estate, right, title, franchise of, in, and to all the lands, railroad, estates, easements and appurtenances hereby granted, and agreed and intended to be granted, as well as the same may be at the date of this indenture, as at the time of such foreclosure and sale; and the party of the second part, after the payment of the costs and charges of such foreclosure and sale, shall, and for himself and his successors in office covenants to pay to the holders of the bonds actually issued in the premises the amount of principal and interest of said bonds remaining unpaid, and to pay the surplus, if any there be, to the party of the first part; and in case the proceeds of said sale shall not amount to enough fully to pay the same, then the party of the second part agrees to divide the said proceeds pro rata among the respective holders of said bonds.

It is further mutually agreed between the parties hereto, that any of the lands herein described, other than the lands necessary for the use of said railroad, may be sold by the party of the first, and that the party of the second part, upon the payment to him of the purchase money therefor, shall join in a deed of conveyance therefor; and such conveyance shall constitute a good and perfect title to such lands to the purchaser, notwithstanding any thing contained in this indenture; and the party of the second part, for himself and his successors in office, covenants to hold or invest the proceeds of the sale of any such lands sacred to the payment of the principal and interest of said bonds, such investment to be either in the bonds secured by this indenture, or the bonds of the United States, the State of New York, Massachusetts, or Ohio, at the lowest rates at which the same can be purchased at the time of such investment; and in the sale of such lands the bonds hereby secured shall be received in payment therefor; and in case of any foreclosure and sale in pursuance of the covenants of this indenture, then any and all investments growing out of the sale of said lands, shall be applied in payment of the interest and principal on said bonds before the application of the proceeds of said foreclosure sale; and should the proceeds of the sale of said lands, or the investments growing out of such sales, exceed the amount due, or to become due, upon the bonds hereby secured, then the excess shall be paid to the party of the first part. It is further mutually agreed that the actual possession, use and management of the said railroad, with all and singular the appurtenances thereto belonging, shall be and remain with the parties of the first part, so long as they shall remain without default in the payment of the principal and interest of said bonds.

No.

FORM OF BOND.

UNITED STATES OF AMERICA.

PACIFIC RAILROAD COMPANY OF MISSOURI.

CONSTRUCTION BOND.

Interest at seven per cent. per annum, payable half-yearly, on the first day of January and July. Secured by mortgage of railroad, and one million acres of land; convertible into stock, and receivable in payment for land.

for

This certifies that the Pacific Railroad is indebted to moneys advanced for the construction of its railroad with appurtenances, and that in consideration thereof, the said Pacific liailroad do hereby promise and agree to pay to the bearer hereof, at the American Exchange Bank, in

the city of NEW YORK, the sum of ONE THOUSAND DOLLARS, on the first day of July, 1876, and also interest for the same, at the rate of SEVEN per cent. per annum, semi-annually, on the first days of January and July in each and every year ensuing the date hereof, until the said principal sum shall be paid upon presentation of the annexed interest warrants, as they severally become due at the said office.

This is one of a series of ten thousand bonds of the same character, issued and to be issued by the said Pacific Railroad, the payment of which is secured by a mortgage made by the said Pacific Railroad, under and by authority of the laws of the State of Missouri, of certain lands and premises therein described, and also of the South-Western Branch Railroad, together with all its appurtenances; said mortgage bearing even date herewith, and made in trust to the Treasurer of the State of Missouri, to secure the principal and interest of said bonds, which mortgage is the first and only lien upon said lands and roads.

And the said company further agree, that on any day, after one year, and prior to six years from the date hereof, the proprietor of this bond shall be entitled to stock of this company, at par, for the amount of the face of this bond, in satisfaction thereof, and to a certificate or certificates of such stock therefor.

In witness whereof the said company have caused this bond to be signed by their President and Treasurer, and their corporate seal to be [L. S.] hereto affixed, at their office in the city of St. Louis, this day of

185.

Treasurer.

-President.

COUPONS.

The Pacific Railroad will pay to the bearer hereof, at the American Exchange Bank, in the city of New York, thirty-five dollars, on the first day of July, 18-, it being the interest to that date on their bonds [bond]

No.

$35.

FORM OF GUARANTEE.

This witnesseth that the State of Missouri, by virtue of an act of the Legislature of said State, approved

and for good and valid considerations, has and hereby does guarantee the faithful payment of the interest and principal secured by the within bonds, at the time and times, and at the place named in said bond.

It being the intention of the said State fully to assume the prompt, full and ample payment of the within bond, and to make it the obligation of this State, and to pledge the faith of the State to the payment thereof, as fully and perfectly in all respects as though the same had been the origi

nal undertaking of the State; which original undertaking the State hereby fully assumes.

§ 26. It is made the duty of the Treasurer of the State to accept the trust created by said indenture of mortgage, and execute the same, and affix thereto his seal of office, and to receive and disburse all moneys coming into his hands by virtue of the trust created by said indenture, in pursuance of the provisions and covenants of said indenture in all things.

§ 27. That the loan of the credit of the State, of one million of dollars, to the South-West Branch of the Pacific Railroad, under the provisions of an act entitled "An act to accept a grant of land made to the State of Missouri, by the Congress of the United States, to aid in the construction of certain Railroads in this State, and to apply a portion thereof to the Pacific Railroad," approved December 25, 1852, is hereby transferred to the construction of the Pacific Railroad west of Jefferson City, upon the conditions and limitations, and in addition to the amount provided in section four of this act.

§ 28. In case the Pacific Railroad fails to complete the said first division of said South-West Branch, in three years from the passage of this act, or to pay the interest on said guaranteed bonds, or to hold the State harmless from said guarantee, then and in that case, the said South-West Branch Railroad, the lands appropriated to the construction thereof, belonging to the railroad company at the time of such default, and all appurtenances and franchises, shall at once, by operation of law, and without any process or proceeding, become the property of the State, subject only to the aforesaid mortgage. And the Governor of this State, upon the failure of said company to perform all or either of the above conditions, may take possession thereof in behalf of the State, and manage and control the same until otherwise disposed of by act of the Legislature.

§ 29. This act shall not take effect as to either of said companies, except that the company or companies that shall within six months after the passage of this ac signify its acceptance of the provisions of this act, applicable to the company so accepting, by resolution of the Board of Directors, certified under the corporate seal of the said company; which said acceptance shall be filed with the Secretary of State.

§ 30. The railroad companies in this act mentioned shall not run trains on the first day of the week, commonly called Sunday, except a single train each way, for the conveyance of the mails; and for every violation of this section shall, upon conviction, be fined in any sum not less than one, nor more than five hundred dollars.

Taken up, reconsidered and passed by the following vote :
Ayes 67; Noes 49.

SAMUEL A. LOWE,

Chief Clerk of the House of Representatives.

December 10th, 1855.

This bill having been returned by the Governor, with his objection thereto, and, after reconsideration, having passed both Houses by the constitutional majority, it has become a law, this December 10, A. D. 1855.

WALTER B. MORRIS,

President of the Senate.

WILLIAM NEWLAND,

Speaker of the House of Representatives.

AN ACT to secure the prompt payment of Interest on State Bonds.

§1. State interest fund constituted; of §

what it shall consist.

2. On failure to pay interest on certain State bonds, the same shall be paid from the State interest fund.

3. Commissioners of the interest fund appointed; their duties and powers.

4. Principal and interest of said fund to be invested in stocks.

5.

6.

Such stocks may be sold or hypothecated; when.

Fund declared sacred, and public faith pledged for its proper application. 7. Compensation of the Commissioners. 8. Proper construction of this act declared.

Be it enacted by the General Assembly of the State of Missouri, as follows:

§ 1. There is hereby set apart, on the first day of July, 1856, from any moneys in the State Treasury not otherwise appropriated, the sum of two hundred thousand dollars, as the basis of a State interest fund, and the further sum of one hundred thousand dollars annually thereafter, out of the gross revenue of the State, for the period of thirteen years; which said fund shall be denominated the "The State Interest Fund."

§ 2. In case any railroad company, to which the credit of the State has been loaned, shall fail to deposit with the Treasurer of the State a sum sufficient to meet any interest to fall due upon any State bonds, or upon any bond guaranteed by the State, thirty days prior to the time when the said interest shall become due, it shall be the duty of the Auditor and Trea