Chapter VIII. for the Relief of the Wilmington and Raleigh Railroad Company
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Chap. VIII.— An Act for the Relief of the Wilmington and Raleigh Railroad Company. April 19, 1850. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Time of payment of duties on iron rails extended. That the Secretary of the Treasury be, and he is hereby, authorized and directed to extend the time of payment of duties, upon all iron rails now or hereafter to be imported at the port of Wilmington, North Carolina, by the Wilmington and Raleigh Railroad Company, for the use of said company, so that the same shall be made by four equal annua! payments or instalments; which annual instalments and payments are first to be reserved by the Postmaster-General for the use of the treasury, out of any monies which may be due said Wilmington and Raleigh Railroad Company, for mail service to be performed by them; and further, that Payment to be secured by bonds of company and personal security.before the delivery of any such iron rails, the payments so deferred shall be secured, by the bonds of said company, with good personal security, to be approved of by the United States district judge for the State of North Carolina, and such authority given in writing to secure the reservation and payment by the Post-Office Department as may be satisfactory by the Secretary aforesaid.
Sec. 2. *And be it further enacted by the authority aforesaid*, That Proviso.this act be in force from and after its passage: *Provided*, That this act shall only extend to iron already imported, and to be imported within two years from the passage of this act. Approved, April 19, 1850.