date as practicable, causing in all cases of transfer as aforesaid the following regulations to be observed and carried out:
1. Each and every company will be required to reorganize and elect a board of directors whose loyalty shall be established to your satisfaction.
2. You will cause to be made out in triplicate, by such person or persons as you may indicate, a complete inventory of the rolling- stock, tools, and other materials and property one each road.
3. Separate inventories will be, in the same manner, made of the rolling-stock and other property originally belonging to each of said roads, and that furnished by and belonging to the Government.
4. Each company will be required to give bonds satisfactory to the Government that they will, in twelve months from the date of transfer as aforesaid, or such other reasonable time as may be agreed upon, pay a fair valuation for the Government property turned over to said companies, the same being first appraised by competent and disinterested parties at a fair valuation, the United States reserving all Government dues for carrying mails and other service performed by each company until said obligations are paid; and if the maturity of said debt the amount of Government dues retained as aforesaid does not liquidate the same the balance is to be paid by the company in money.
5. Tabular statements will be made of all expenditures by the Government for repairing each road, with a full statement of receipts from private freights, passage, and other sources; also a full statement of all transportation performed on Government account, giving the number of persons transported, and amount of fight, and the distance carried in each case; all of said reports or tabular statements to be made in triplicate, one each for the Secretary of War, the military headquarters of the department, and the railroad company.
6. All railroads in Tennessee will be required to pay all arrearage of interest due on the bonds issued by that State prior to the date of its pretended secession from the Union, ot aid in the construction of said roads, before any dividends are declared or paid to the stockholders thereof.
7. Buildings erected for Government purposes on the line of railroads, and not valuable or useful for the business of said companies, should not from a legitimate charge against such companies; nor should they be charged for rebuilding houses, bridges, or other structures which were destroyed by the Federal Army.
8. You are authorized to give any orders to quartermasters within your divis to carry into execution this order.
By order of the President:
EDWIN M. STANTON,
Secretary of War.
GENERAL ORDERS, QUARTERMASTER-GENERAL'S OFFICE, Numbers 62.
Washington, D. C., October 23, 1865.
The following order by the President of the United States, in relation to Executive order of 8th of August, 1865, extending the provisions and benefits of the same to all railroads within the limits of the Military Division of the Tennessee desiring to purchase railroad rolling-stock and material from the United States for the purpose of repairing