Commonwealth Act No. 59, October 20, 1936
AN ACT AUTHORIZING THE “MANILA RAILROAD COMPANY OF THE PHILIPPINE ISLANDS” TO DISCONTINUE AND ABANDON ITS RAILROAD LINES BETWEEN: (A) THE MUNICIPALITIES OT PASIG (ROSARIO) AND M…
SECTION 1. The Manila Railroad Company of the Philippine Islands is hereby authorized to discontinue and abandon the following lines of railroad: (1) between the —RizaI municipalities of Pasig (Rosario) and Montalban, in the Province of Rizal; (2) between the railroad station at Paco, Manila, and the municipality of Naic, in the Province of Cavite; (3) between the municipalities of Batangas and Bauan, in the Province of Batangas; and (4) between the municipalities of Legaspi and Tabaco, in the Province of Albay.
SEC. 2. The Manila Railroad Company of the Philippine Islands is further authorized to dispose of the personal and real property belonging to said lines in such form and subject to such conditions as the directors of the Company and the trustee of the mortgage on said property may consider most advantageous for the interests of said company. The proceeds of the sale of said property in so far as the same is affected by the mortgage for the protection of the bondholders shall be applied in accordance with the provisions of the deed of mortgage.
SEC. 3. This Act shall take effect upon its approval.
Approved, October 20, 1936.