| Endorsement on letter from Col. F. M.
Garnett dated Richmond Aug. 1, 1863. Proposing a basis of payments
where companies have to pay money for the rail furnished them.
Engineer Bureau Aug. 4, 1863. Respy. referred to the Hon Sec of War
with the recommendation that the within basis be ordered for payment
by the Rail Road Companies rec'ing iron from the Government. 1. Pay
costs of iron with expenses of collecting and transporting. 2d
Payments to be in one & two years, credit being given for amt of
transportation due the purchasing company the company to pay interest
from average date of delivery of iron. |
| Approved |
| J. F. Gilmer |
| Col of Engrs & Chf Bureau |
| Basis of payment approved. Rate of
interest is not specified. Let it be the rate of interest established
by Law in the state where the Iron is used. |
| Aug 4, 1863 |
| J. A. Seddon |
| Sec War |
|