Report of the Select Committee in reference to the State mortgage on the Detroit and Pontiac Railroad. The select committee, to whom it was referred, "to inquire into and report upon the situation of the mortgage upon the Detroit and Pontiac Railroad, the probability of the same being good and valid in the hands of the state, and whether the interests of the state require any action with regard to said mortgage, and that said committee have leave to report by bill or otherwise," have had the same under consideration, and beg leave to submit the following report, accompanied by bills: REPORT. In pursuance of the duties assigned us, your committee first went about examining the various statutes relative to the subject, which were found to be very numerous, numbering in all nine separate statutory enactments, including the first act of incorporation, approved March 7, 1834. To relieve ourselves from legal doubts and embarrassment, and that all branches of the government might act in concert, and with the same ends in view, your committee submitted the substance of their instructions to the attorney general for his opinion, and had the honor to receive for answer the following: Detroit April 25, 1846. Hon. SAMUEL DENTON, Chairman Select Committee, &c. : SIR-I have the honor to acknowledge the receipt of the following resolution: "Resolved, That the Attorney General be requested to communicate to this committee his opinion as to the validity of the mortgage on the Detroit and Pontiac Railroad, held by the state; and also, his opinion as to the necessity of any further legislation to secure the rights of the state under said mortgage." In compliance with the above resolution, I herewith submit my opinion upon the points suggested. From a careful examination of the mortgage and all laws in any way affecting it, I am of the opinion the mortgage is a valid and subsisting lien upon the road and its appurtenances, as well as upon the rights, privileges and franchises of the company secured by the act of incorporation. Under act No. 81, session laws 1844, and an act amendatory thereto, passed the present session, Alfred Williams and such others as he may associate with him, have the privilege of purchasing the mortgage and taking an assignment thereof at any time before the eleventh day of August next. In case the mortgage is sold, no further legislation will be required to secure the interests of the state. If it is not sold, and proceedings have to be instituted to foreclose it, some additional provisions of law will probably be necessary. If the state should become the purchaser, the Board of Internal Improvement should be required to take possession of it; and all laws applicable to the public works of this state should be extended to this. To enable individuals to bid at the sale, it would be well, perhaps, to authorize the state treasurer to receive the liabilities of the state in payment instead of requiring money. It has been suggested that no individual could purchase at this sale for the reason, that it is doubtful whether a new board of directors by such purchase can be elected without some further legislation upon the subject. This doubt should be removed. 1 am very respectfully, Your obedient servant, HENRY N. WALKER, In conformity to the views of the attorney general, with whose opinion we coincide, we have reported a bill to carry out more perfectly the objects of the act to provide for the relief of the Detroit. and Pontiac Railroad company, approved March 5, 1838, and the mortgage given in conformity thereto. And we have also reported another bill to provide for an amicable adjustment of the mortgage in question, and in all of which we ask the concurrence of the Senate. SAMUEL DENTON, |