Section 6
SEC. 6. As a guaranty that the franchise has been accepted in good faith and that within eighteen months from the date of the passage of this Act, the grantees, or their successors or assigns, will begin the business of transmitting messages by telephone and will lie fully equipped and ready to operate according to the terms of this franchise one thousand telephones in the city of Manila, the said grantees shall deposit at the time of such acceptance, with the Insular Treasurer, fifty thousand pesos or negotiable bonds of the' United States or other securities, approved by the Governor-General, of the face value of fifty thousand pesos: Provided, however, That if the deposit is made in money the same shall be deposited at interest in some interest-paying bank approved by the Governor-General and all interest accruing and due on such deposit shall he collected by the Insular Treasurer and paid to the grantees, their successors or assigns, on demand: And provided further, That if the deposit made with the Insular Treasurer be negotiable bonds of the United States or other interest-bearing securities approved by the Governor-General, the interest on such bonds or securities shall be collected by the Insular Treasurer and paid over to the grantees, their successors or assigns, on demand. Should the said grantees, their successors or assigns, for any cause other than the act of God, the public enemy, usurped or military power, martini law, riot, civil commotion, or inevitable cause, fail, refuse, or neglect to begin within eighteen months from the date of the passage of this Act, the business of transmitting messages by telephone, or fail, refuse, or neglect to be fully equipped and ready to operate within eighteen months from the date of the passage of this Act one thousand telephones in the city of: Manila according in the terms of this franchise, then the deposit prescribed by this -section to be made with the Insular Treasurer, whether in money, ' bond', or other securities, shall become the property of the Insular Government as liquidated damages caused to such Government by such failure, refusal, or neglect, and thereafter no interest on said bonds or other securities deposited shall be paid to the grantees, their successors or assigns. Should the said grantees, their successors of assigns, begin the business of transmitting messages by telephone and be ready to operate according to the terms of this franchise one thousand telephones in the city of Manila within eighteen months from the date of the passage of this Act, then and in that event the deposit prescribed by this section shall be returned by the Insular Government to the grantees, their successors or assigns.