44 FORTY-THIRD CON GRESS. Sess. I. Ch. 165. 1874. Secretary or War Sec. 2. That after thirty days from the passage of this act the Sears.
- 0 ¤¤k¤ 1>°¤¤<·>S¤i<>¤· tary of War is hereby authorized and directed to take possession of the
said Louisville and Portland Canal, and all the property, real and personal, of said company, as the property of the United States, as provided for by the act of the general assembly of the State of Kentucky, approved February twenty-second, cigh tcen hundred and forty-four, entitled “An act to amend ain act entitled ‘An act to amend the charter of the Louisville and Portland Canal Oompany,’approw*ed January twenty-iirst, eighteen hundred and forty-two,” conceding jurisdiction over said canal to the United States, subject however, to the mortgage-lien on said property in iavor of the trustees under said mortgage and the holders of }‘¤¤r¤l¤¤·¤¤ <>f ¤~>r· the bonds issued under it; and the Secretary of the Treasury is hereby I{;;:ct:;’°k f"° m authorized to pay the directors of said company for the stock held by ' them, which payment shall be made forthwith by the Secretary of the Treasury, being the sum of one hundred dollars to each director, with interest thereon at six per eeutum per annum since the ninth day of Examination ofFcbrua.ry, eighteen hundred and sixty-four; and he is authorized and accounts. directed to cause a careful and full examination of all the receipts and Dems clue com- disbursements of the said company to he made, and to collect, and, if 1·=¤¤yt¤l>¤c<>11c¤wd- necessary, to sue ior, any money due to or held for the said company by the directors of said company, or the trustees under said mortgage, Debts of compile y or by any person whatever. And said Secretary of the Treasury is hereby fo be presented ·¤> directed and empowered, immediately upon the passage of this act to E"f‘f‘;;tQ;Yb:igr';3`€fj give public notice in such manner as, in his judgment, will best eifect 1_§8»,5_ ’ the purpose, to all persons and corporations having debts of any nature against said Louisville and Portland Canal Company, except the bonded debt thereoli to present them to him on or before the tirst day of July, D b eightotenfhnn<1reld(;1nd seuenlty-five; and any such debt neg; presented puts to _¤ cx- on or c oro said ay s 1a e orever barred. And said eoretar; is f::;{'m1);;3l‘1‘° °‘l» hereby directed and authorized to examine, audit, and, in his discretion, `allow such debts, or any of them, being hereby vested with any power necessary to that end; and he shall embrace his action in the premises grlgeqport to Con-in his succ{ae)dii1g_3m1uall rgport Pro?i3;2d,TIz0wcvc¢, That nohsmrm of money s a. o pai y e ecre ary o e reusury on accoun o au No p=¤ymc¤t for claim for either city or State taxes assessed, or to be hereafter assessed`?
- “°S· against said company, or against the said canal property, or any of its
appendages. Use or canal to Sec. 3. Thnttlie said canal and property appertaining thereto shall bu free, except. he held for the common use and benefit of the people of the United gates, free; of all tolls {and (charges except such as are necessary to pay e curren expenses o said cena and to keep the same in re air· and ’1u»1i¤ my pi-omni for the present year they shall be at the rate of ten cents per tion eapae WM ity on vessels propelled by steam and five cents per ton on other vessels; F h t H and to ascertain what rates will pay current expenses after the present “ ““’ ° S' year, the Secretary of War shall, on the first Monday of January of each year, ascertain from the expenses of the previous year what tolls will probably pay the expenses of the current year; and he shall iix and declare the rate of tolls thus ascertained to be charged for the our- Supmumudcmo rent year;_ aud,unt1l otherivise prov1nlecl‘ by law, the Secretary of War M_ vsnnll provide for the supermtendence, management, and repair of said canal, and may apply the tolls so received, as far as may be necessary, _Rep¤r¤ ’¤<> U <>¤· to pay the current expenses of said canal; and he shall, in his next an- P¥“'”· nnal report, set forth such receipts and expenditures and the condition o san cana wi 1 a view o suc e is ation as ma be nccessar for R<=¤}¤i¤U<>¤ <>¤ M- the superintendenee and managennentg thereof ; but fic expenditure nor l‘°"‘“"“°· contract for expenditure of money shall be made under the authority of this section in any one year to an amount greater than the amount which Trustees of mmf may be received during such year from tolls on said canal. Wm 1, 0 D d B my Sec. 4. That if at any timeit become necessary to enforce the lieu of eomnncnoc proceed. the mortgage upon said canal-property for the benefit of the bondholders, gigs jvnkmz United it shall be lawinl for the trustees named in said mortgage, or any other
- ‘“““ “Y’“’*Y· trustees who may be appointed in pursuzmoe of the laws of Kentucky,
to commence proceedings therein in any court havin g jurisdiction there
