for Agricultural Purposes. 
399 
ditions of the agreement passed October 10, 1876, with M. L^on Soulie, as well 
as with the terms of the estimate annexed to the said convention. 
Certified copies of these agreements, and of the terms and conditions of the 
estimate, will be annexed to the present decree. 
Article 3. — Tlie Department of the Meuse grants from the funds of the 
Treasury, by application of Article 5 of the above-mentioned law of July 12, 
18G5, and on condition of the previous inscription thereof in the budget of 
public works, a subsidy of four hundred and three thousand six hundred and 
sixty-seven francs, fr. 403,067 (16,146?.). 
This subsidy will be paid at six equal half-yearly periods, dating from 
January 15, 1878. 
The Department must prove, before the payment of each instalment, an ex- 
penditure in the shape of purchase of land, works, and supplies on the spot, 
equal to three times the sum to be received. 
The last payment will not be made until after the works have been 
completely terminated. 
Article 4. — No issue of debentures will be allowed except on authority 
granted by the Minister of Public Works, in concert with the Minister of the 
Interior, and after the Minister of Finance has given his advice thereon. 
In no case can debentures be issued lor a sum exceeding the capital repre- 
sented by the shares, which will be fixed at one-half of the expenditure which 
will be judged necessary, after deducting the subsidies granted by the State, 
the Department, the parishes, and private individuals, for the complete con- 
struction and the startiiig of the Railway ; and this capital in shares must be 
effectively paid up ; shares liberated or to be liberated will not be taken into 
consideration, otherwise than as money. 
Nevertheless, no issue of debentures will be authorised before four-fifths of 
the capital in shares has been paid in and employed in the purchase of land, 
in works, in supplies on the spot, or deposited as a guarantee fund. 
Nevertheless, the holder of the concession will be allowed to issue deben- 
tures when the whole of the capital in shares has been paid in, and if it be duly 
proved that more than one-half of the capital in shares has been employed 
iu conformity with the terms of the preceding paragraph ; but the funds 
arising from these anticipated issues must be deposited either in the Bank of 
France or in the Caisse des Depots et Consignations, and will only be placed 
at the disposal of the possessor of the concession by a formal authorisation of 
the Minister of Public Works. 
Article 5. — A detailed account of the results of the working, including the 
expenses of the cost of the line and of its working, and the gross receipts, 
shall be presented every three months to the Prefect of the Department, who 
will forward it to the Minister of Public Works for insertion in the 'Journal 
Officiel.' 
Article 6. — The Minister of Public Works and the Minister of the Interior 
are each, insomuch as they are individually concerned, bound to attend to 
tlie execution of the present decree, which will be inserted iu the ' Bulletin 
des Lois.' 
Done at Versailles, Felruary 8, 1877, hj the ) Marshal MacMahox, Duke 
President of the Repuhlic, j of Magenta. 
Tlie Minister of Public Works, 
Albert Christophle. 
