Title: [Unidentified Sender] to Orville Hickman Browning, February 1869
Date: February 1869
Source: Transcribed from digital images or a microfilm reproduction of the original item. For a description of the editorial rationale behind our treatment of the correspondence, see our statement of editorial policy.
Location: National Archives and Records Administration
Whitman Archive ID: nar.00779
Contributors to digital file: Elizabeth Lorang, Kevin McMullen, John Schwaninger, Nima Najafi Kianfar, and Courtney Rebecca Lawton
Hon. O. H. Browning,
Secretary of the Interior.
The Union Pacific Railroad Company, having been required by the Government of the United States, in addition to the deposit of Three millions of dollars, ($3,000,000:) of first mortgage bonds of the Company with said government in the Department of the Treasury thereof, as security for the due completion and equipment of its road;—Also, as a further security to the same end, to leave the lands given to the said company by the Acts of Congress providing for the building of the said Road, and the completion of its structure and equipments without taking out patents for the same until the Government shall be satisfied, upon proper examination of the said road, its structure and equipment, that the same have been completed according to the provisions of law, in the premises; and the company having executed the proper instrument in respect to the said required deposit with the Secretary of the Treasury:
Now this is to declare that the said Company assents to the aforesaid requirement in respect to the lands given to the said Company as aforesaid, that they shall remain without patents being taken out therefor until the Government of the United States, upon a proper examination of the actual condition of the road of said company, its structure and equipments, shall be satisfied to issue patents for said lands.
In the name and by the authority of the said Company, this assent is given by us, the President and Secretary of said Company.
We have the honor to be
Your obd't serv'ts.
(Agreement &c. Union Pacific RR.)
Know all men by these presents, That the Union Pacific Railroad Company, having been heretofore required to deposit with the Government of the United States in the Department of the Treasury of the U. S. the am't in the aggregate of three millions of dollars ($3,000,000) of their first mortgage bonds, as a guarantee that the structure & equipment of the road of the said company shall be completed according to the provisions & requirements of law respecting the same, and to make such deposits, from time to time as the said company shall receive the bonds of the U. S. issued to it on the completion of successive sections of the road as provided by law to an amount equal to one-half of the am't of said bonds of the U. S. to be so received by said Company.
Now the said company in pursuance of said requirement, hereby declares & agrees that the said first mortgage Bonds deposited, or to be deposited with the government of the U. S. in the Treasurey Dept. thereof, upon the requirement and in manner aforesaid, are and may & shall be held by the government of the U. S. as security for the completion of the structure & equipment of the road of the said Company, according to the provisions of the statutes of the U. S. providing for the building & completion of said road, & its equipments, & to be so held until the Government of the U. S. on a proper examination of the actual completed road and equipments shall be satisfied to relinquish & restore to the said company the said bonds, or such part thereof as it shall deem, from the actual condition of the said road, in its structure and equipments, it shall be no longer necessary to retain.
And it is further declared & agreed by the said Company, that in case the Government of the U. S. shall fail to be satisfied, upon a proper examination of the road, its structure & equipments aforesaid, that the same are conformed to the requirements of the statutes providing for the building of the said road and for its structure & equipment, that it shall be the duty of the said Company to proceed to complete the said road, its structure & equipments, to the satisfaction of the government of the United States — and that in default of its so doing, the said Bonds shall be held by the said Government, and shall be disposed of, and the proceeds thereof, if disposed of, applied to the proper completion of the said road, its structure & equipment, as the Government of the United States shall by law direct & provide.
In witness whereof, the said Union Pacific RR. Co. has affixed its Corporate seal to these presents, and directed the execution thereof to be attested by its President this day of February, Eighteen hundred and sixty nine.
(Documents, forms, &c. in agreements bet. The United
States, and the Union Pacific Rail Road)
Stipulations bet. U. S. & Union Pacific RR
See p 381 seq.