Page images
PDF
EPUB

1846.

2 No. 14.

Proposition of J. H. Titus, to lease from the State the Central Railroad.

To the President of the Senate:

The undersigned respectfully submits the following proposition for the consideration of the legislature, to wit:

The undersigned proposes to lease of the state of Michigan, the Central Railroad for the term of one year from and including the first day of April next, together with the entire stock of said road, consisting of locomotives, cars, ware houses, horses, harness, shops, tools, and all and singular, the fixtures and all other articles and property pertaining to the running of said road, now in use and owned by the state.

In consideration therefor, the undersigned will covenant to pay the sum of one hundred and forty-four thousand dollars, in twelve equal monthly instalments, in advance as follows:

[ocr errors]

T

Twelve thousand dollars on the the 25th day of March next, and twelve thousand dollars on or before the last day of each of the following months respectively, to wit: April, May, June, July, August, September, October, November, December, January and February The undersigned submits the foregoing proposition, subject to the following conditions and stipulations, to wit:

Should the state sell or make any other disposition of said road during the before mentioned period, the provisions of the lease as to the length of time may terminate, provided the undersigned shall have at least thirty days notice prior to giving up possession of said road, and provided further, that the undersigned shall have had the use of said road at least eight months from and after the said first

[ocr errors]

April.

said first day of

d of r

The United States Mail to be transported by the undersigned, agreeably to the contract now existing between the State and the P. O. Department.

[ocr errors]

The undersigned shall pay all the expenses of running and repair

ing said road, and shall have the entire control of the same without restrictions, provided, the price of passage shall not exceed the rates now charged by the State; and the undersigned will obligate himself, that in no case shall the rates on flour and wheat exceed thirty-eight cents per barrel from Jackson to Detroit, and pro rata for all other distances over and under according to the usual rates of charging freight on Railroads.

The undersigned, and all other persons employed by him, or in any way interested with him in its management, may be expressly prohibited from engaging in the purchase and sale of the agricultural productions of the State for the purpose of transporting the same on said road, during the time he or they may be interested in the same, either directly or indirectly.

At the expiration of the lease, the undersigned will relinquish to the State the possession of said road, together with all and singular the locomotives, cars and other property received by him from the State, pertaining to said road, in as good condition and repair as when so received, excepting the natural wear and decay. The fuel that may be on hand at the different stations on the said first day of April, may be measured and delivered to the undersigned, who will, at the expiration of the lease, return the same in quantity and quality, or its equivalent in money.

Any neglect or refusal on the part of the undersigned to comply with the provisions of the lease shall be a sufficient cause for the state by its agent or agents duly authorized, to terminate said lease and resume possession of said road and all other property belonging to the

same.

The present ex-officio members of the board of internal improvement, or any two duly authorized persons, shall have the power on the part of the state, to settle all questions of equity or interest that may exist between the undersigned and the state.

For the faithful performance of all the conditions of the lease on his part, the undersigned will execute to the state a bond with five or more sureties to be approved by the duly authorized agents of the state, in the penal sum of fifty thousand dollars.

The undersigned will also submit a further proposition for the lease of sald road on the following terms, viz: The undersigned will lease

1

3

said Central Railroad, stock, property, &c., for the term of time before mentioned; pay the entire expense of running the same, make all repairs of the road, locomotives, cars, &c., be bound under the same bonds and restrictions as set forth in the first proposition, and will pay to the state one half of the entire receipts for freight and passage, making the division monthly, weekly or daily, as may be agreed by the parties; provided the ex-officio members of the Board of Internal Improvement, in conjunction with the undersigned, shall appoint three collectors, whose salaries shall be paid by the state, and whose duties it shall be to collect all monies for freight and passage on said road, and pay one half of the same to the State Treasurer, or to any other person authorized by the state to receive it, and the other half to the undersigned or his legally constituted agents.

The undersigned would also further propose to lease said Central Railroad for the term of twenty years or less, at the option of the state, at the said annual rent of one hundred and forty-four thousand dollars, payable in monthly instalments of twelve thousand dollars each, in advance, and in all other respects in accordance with the .conditions, restrictions and stipulations as embraced in the first proposition herewith submitted.

All of which is respectfully submitted by

Your obedient servant,

Jackson, February 14, 1846.

J. H. TITUS.

[ocr errors][merged small][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors]
« PreviousContinue »