SS 238-241. COMMISSIONERS OF SINKING FUND. ual and general stock ledgers, and entered in account of public debt paid, specifying the particular stock or loan, the number and date of the certificate, or bond, so paid, the amount, rate of interest, time at which it was redeemable, and in whose name standing when paid; and all such certificates or bonds so paid and canceled shall be duly filed in the office of the commissioners. [55 v. 77, 4] Tit. III, Ch. 6. tificates. SEC. 238. The commissioners are authorized, empowered, and Issue of new cerrequired, at periods previous to and near the time at which any portion of the funded debt of the state becomes payable, according to the terms expressed upon the face of the certificates thereof, to make and issue in due form, agreeably to the laws of the state in such cases made and provided, certificates of the funded debt of the state of such numbers and amount as are sufficient, from the proceeds thereof, to redeem so much of the debt then about to become payable as has not been paid or fully provided for, by the application thereto of the sinking fund established and fixed by the constitution of the state and raised by law; and such certificate shall be made redeemable and payable at such time and times, after being issued, as in the judgment of the commissioners may be most convenient and advantageous for the final redemption and payment of the same by the appropriation to that purpose of the sinking fund, established and raised as aforesaid; and the time and place of the final redemption and payment of the principal, and of the payment of the interest thereon by the state, and the rate of interest, shall be clearly expressed on the face of each certificate; but no certificate shall be issued or made payable after the first day of January, eighteen hundred and ninety-one, except at the pleasure of the state; and the faith of the state is irrevocably pledged that the value of the certificates of the funded debt herein authorized to be issued shall in no wise be impaired or diminished by any act of the legislature, or other authorities of the state. [57 v. III, § 1.] payable. SEC. 239. All or any portion of such certificates of the funded Where domestic debt of the state, as herein authorized and described, may be made or foreign debt and issued as a domestic debt, the principal and interest thereof to be payable at the treasury of state at the seat of government, or as a foreign debt, the principal and interest of which shall be payable at such place in the city of New York as the commissioners of the sinking fund may determine; and the certificates so issued, whether as foreign or domestic debt, shall be issued and made transferable on the books of the commissioners at their office at the seat of government. [65 v. 131. 2.] payable. SEC. 240. The interest on all such certificates, as are issued as a Interest-how, domestic debt, as aforesaid, shall be made payable, semi-annually, on when, and where the first day of February and on the first day of August, in each year, after the issuing thereof, until the final redemption and payment of the principal; and the interest on all such certificates as are issued as a foreign debt shall be made payable, semi-annually, on the first day of January and the first day of July, in each year, after the issuing of the same, until the final redemption of the principal thereof. [57 v. 111, $ 3.] SEC. 241. When it becomes necessary to issue certificates of the funded debt of the state, they shall be offered, by the commissioners of the sinking fund, for sale in the city of New York; and for that purpose the commissioners shall advertise for bids or proposals for the taking thereof in at least two newspapers of general circulation, published in that city, for at least sixty days, next preceding the day for the closing the reception of bids or proposals for taking the same, and such certificates shall be issued to the party or parties who agree to take the Certificates of the funded debt: how disposed of. Tit. III, Ch. 6. Application of proceeds. Foreign creditors entitled to new certificates in kind. Domestic creditors. Accounts and reports of the board. COMMISSIONERS OF SINKING FUND. SS 242-244. sum, or any part thereof, at the highest rate of premium, and at a rate of interest not exceeding six per centum per annum, or at par, at the lowest rate of interest under six per centum per annum; or may reject all, or any, of such bids, as the commissioners, in any of the alternatives aforesaid, judge to be best for the interest of the state; and in case all or any of the bids are rejected, the proposals shall remain open for any further bid or bids therefor, and the commissioners may enter into arrangements with any party or parties therefor, at a rate of premium, or par, as aforesaid, not less than the highest and best bid, so made as herein provided; and in case the same can not be procured, new proposals may be invited as aforesaid, at such time as the commissioners determine; but no portion of the certificates shall be sold or disposed of at a rate or price less than the amount expressed on the face thereof; nor shail any commissions, expenses, or charges be allowed on the sale and conversion thereof into money, so as to reduce the net amount realized therefor below the amount expressed on the face of the certificate or certificates so issued; and no certificate shall be issued bearing a rate of interest exceeding six per centum per annum: In all cases where there is more than one bid or proposal to take all or any portion of the certificates so to be issued, as aforesaid, at a rate equal to each other, and most to the interest of the state, the commissioners shall apportion the amount equally and fairly amongst the parties making such bids or proposals: and the commissioners may adop: such other regulations, in relation to the form and reception of bids or proposals, as they may deem advantageous to the state; but whenever certificates of the funded debt of the state, to be issued to pay outstanding bonds, and which bear a rate of interest not exceeding five per centum per annum, can be sold at a price equal to or greater than the par value thereof, or exchanged for an equivalent amount at its par value of the then outstanding funded debt of the state, the commissioners of the sinking fund are authorized and permitted so to sell or exchange such certificates, or any part thereof, without advertising for bids or proposals for the same, and at any place or places where such sale or exchange can be effected. [62 v 99, $ 4.] SEC. 242. The net proceeds of the sale of the certificates of the funded debt of the state, issued as aforesaid, shall be applied to the redemption and payment of the principal of the funded debt of the state, and to no other purpose whatever. [57 v. III, § 5.] SEC. 243. A holder of any portion of the foreign debt of the state may, at any time, surrender the same to the commissioners of the sinking fund, and receive in lieu thereof a certificate cr certificates of an equal amount of the domestic debt, and the commissioners shall make the necessary transfers, registers, entries, and cancellations on their books: Upon the surrender of any of the outstanding certificates of the domestic debt of the state, the commissioners of the sinking fund may issue in lieu thereof transferable certificates, as authorized by this chapter, the principal and interest of which shall be payable at the state treasury, and at the time and times specified in the certificates so surrendered: the certificates surrendered shall be immediately canceled, and the proper entries thereof made in the books of the commissioners. [57 V. III, $6.] SEC. 244. The commissioners of the sinking fund shall keep accurate accounts and registries of the issue and transfers, payment of the interest, and of the final redemption and payment of the principal of the certificates; and the commissioners are required to report to the governor at the times of making their semi-annual reports, and at such other times as the governor requires, and to the general assembly, or SS 245-247. COMMIS'R RAILROADS AND TELEGRAPHS. Tit. III, Ch.7. either branch thereof, when so required by resolution, all their acts and proceedings done under and by authority of this chapter as to the issue and exchange of certificates; and the governor shall communicate the reports made to him to the general assembly, if in session, and if not in session, then at the commencement of the next session thereafter; and if such report is made more than two months before the meeting of the general assembly, the governor shall cause such report to be printed in at least two newspapers of general circulation published in each of the cities of Cincinnati, Columbus, and Cleveland. [57 v. III, $7.] SEC 245. A commissioner of railroads and telegraphs shall be How appointed, appointed by the governor, by and with the advice and consent of the and term. senate; and he shall hold his office for two years: no person is eligible Who eligible. to the office who is an officer or employe of a railroad company, or who owns or is interested in the stock or bonds of a railroad company. {64 v. 111, § I.] SEC. 246. The commissioner, before entering upon the discharge of His bond and oath his duties, shall give bond to the state in the sum of five thousand dol- of office. lars, with two or more sureties, to the acceptance of the governor, conditioned for the faithful performance of his duties; which bond, with his oath of office and the approval of the governor indorsed thereon, shall be deposited with the secretary of state. [64 v. III, § 2.] etc., supposed to SEC. 247. When the commissioner has reasonable grounds to Duty to examine believe, either on complaint or otherwise, that any of the tracks, tracks, bridges, bridges, or other structures of any railroad in this state are in a condi- be dangerous. tion which renders them, or any of them, dangerous, or unfit for the transportation of passengers, he shall forthwith inspect and examine the same; and if, on such examination by himself or his agent, he is of opinion that any of such tracks, bridges, or other structures are unfit for the transpor.ation of passengers with safety, he shall immediately give to the superintendent, or other executive officer of the company operating such road, notice of the condition thereof, and of the repairs or reconstruction necessary to place the same in a safe condition; and Shall prescribe he may also prescribe the rate of speed for trains passing over such rate of speed for dangerous or defective track, bridge, or other structure, until the repairs or reconstructions required are made, and the time within which such repairs or reconstructions must be made; or if, in his opinion, it is Or wholly stop needful and proper, he may forbid the running of passenger trains over such defective track, bridge, or other structure; and if a superintendent passing over same: the trains from passing over same. Tit. III, Ch. 7. COMMIS'R RAILROADS AND TELEGRAPHS. §§ 248-251. Punishment of orders: or other executive officer receiving such notice and order neglects for two days after receiving the same to direct the proper subordinate officers to run the passenger trains over such defective track, bridge, or other structure, at a speed not greater than that so prescribed, or if the running of passenger trains is so forbidden, then to stop running passenger trains over the same; or if any engineer, conductor, or other employe officers and others knowingly disobeys such order, every superintendent, officer, engineer, for disobeying his conductor, or employe, so offending, shall be fined in any sum not exceeding five hundred dollars, or imprisoned in the jail for any period not exceeding one year, or both, at the discretion of the court; and the company operating such road, if it neglects or without good cause fails to make the repairs or reconstruction prescribed by the commissioner within the time by him limited, shall for each day that such repair or reconstruction is delayed beyond the time prescribed, forfeit and pay to the state the sum of one hundred dollars. [64 v. 111, § 6.] SEC. 248. When the commissioner, upon complaint, or otherwise, of law by railroad, has reason to believe that any railroad company, or any officer, agent, or employe of any railroad company, has violated, or is violating, any of the laws of the state, he shall examine into the matter. [64 V. III, $5.1 And penalty against company. Shall examine into alleged violations its officers, agents, or employes. Office in the state house. May appoint a clerk. SEC. 249. The office of the commissioner shall be in the state house; and he may appoint a clerk, which appointment must be evidenced by the certificate of the commissioner: the clerk shall discharge such duties as are assigned to him by the commissioner, and he may Powers and duties issue subpoenas for witnesses and administer oaths in all matters pertaining to the duties of the office of commissioner. [68 v. 55, 3.] of the clerk. Commissioner may pass free SEC. 250. The commissioner shall have the right of passing, in the over all railroads. performance of his duties, on all the railroads within the state, and upon all trains, and any part thereof, free of charge. [64 v. 111, § 4.] Annual reports of railroad companies: when to be made: And what to contain. Stock and debt. SEC. 251. The president, or other officer in charge of any railroad, situate in whole or in part within the state, shall, on or before the first day of September, in each year, make and file in the office of the commissioner a report, verified by the oath of such officer, for the year ending on the thirtieth day of June preceding, which report shall state: AS TO STOCK AND DEBT. 1. The amount of capital stock subscribed; 1234 4. The amount of floating debt; Total amount of paid in stock and debt: COST OF ROAD AND EQUIPMENT. Amount of all other items embraced in cost of road; Cost and equip ment. 7. 8. Characteristics of road. 9. Cost of equipment; Total cost of road and equipment: CHARACTERISTICS OF THE ROAD, ETC. Length of main line, single track, laid with rail; 10. Length of branches, single track, laid with rail; 11. 12. above; Length of double track, main line and branches; Aggregate length of sidings and other tracks, not enumerated Total length of rail computed as single track: 13. The maximum grade, with its length in main road, and also in branches; $251. COMMIS'R RAILROADS AND TELEGRAPHS. Tit. III, Ch.7. 14. The shortest radius of curvature, with length of curve in main road, and also in branches: 15. 16. 17. 18. 19. Total degrees of curvature in main road, and also in branches; Number of stone bridges, and aggregate length; 20. The greatest age of wood bridges; 21. Number of wood trestles, and aggregate length; 22. The greatest age of wood trestle; 23. Number and kind of tunnels, and aggregate length; 24. Length of fence required to inclose road, both sides, and reasons why not completed; 25. Number of engines; 26. Number of express and baggage cars; 27. Number of passenger cars; 28. Number of freight cars; 29. Number of other cars; 30. The highest rate of speed allowed by express passenger trains; 31. The highest rate of speed allowed by mail and accommodation trains; 32. The highest rate of speed allowed by freight trains; 33. The rate of fare for passengers charged for the respective classes per mile: 34. The highest rate per ton per mile charged for the transportation of the various classes of freight, through and local. DOINGS OF THE YEAR. 35. Length of new rail laid; 36. Length of re-rolled rail laid ; 37. Number and kind of bridges built, and length; 38. Number of miles run by passenger trains; 39. Number of miles run by freight trains; 40. Number and kind of farm animals killed, and amount of damages paid therefor: 41. Number of passengers (all classes) carried; Number of tons of through freight carried; 45. Total movement of freight, or number of tons carried one mile : Doings of the year. Earnings for the year. Expenditures for the year 52. 53. trains; For maintaining and operating motive power and cars; For transportation expenses, including those of stations and 54. For interest on bonds and other indebtedness; 55. For dividends, stating rate per cent. ; |