Preamble
WHEREAS, by Republic Act Numbered Four hundred seventy, entitled "An Act to authorize the Manila Railroad Company to incur an indebtedness of forty-five million pesos for the rehabilitation, restoration and extension its lines," approved June nine, nineteen hundred and in Congress has authorized the Manila Railroad Company to extend its lines from San Jose, Nucva Ecija, to Cagayan; WHEREAS, the Manila Railroad Company is not in a financial position to undertake the extension of its lines to Cagayan Valley nor is it able to obtain sufficient loans under said Act; and WHEREAS, it has been a declared policy of the Government that the Manila Railroad Company extend its lines to the Cagayan Valley within a period of five years; Now therefore,