Washington telegraph., 1855-08-01
Report of the Cairo and Fulton
Railroad Company.


this time respecting the act of the General
Assembly of this State, approved January
16. 1855, entitled san act to aid an the
construction Of tie Cairo and Fulton
Railroad," and the same be and is hereby
referred to the board of directors, with full
authority to take such action, in regard
thereto, as they shall, under this resolution
and the provisions of the charter of the
company, deem most conductive to the in
terests of the State and the rights of this
company.
In pursuance of the foregoing resolution,
adopted at the annual meeting of the stock
holders of the Cairo and Fulton railroad
company. held in Little Rock On the 7th
May last. meeting of the board Of direct
ors was appointed for the 18th inst, for the
purpose Of considering the matters contem-
plated by said resolution, at which time a
quorum was not present. In these circum-
stances. by rule of the board, that duty
properly devo!yed upon the executive COM
mittee, in the performance of which. they
present the following report
OFFICE CAIRO & FULToN r. r. Co
ErecutiCe COMMITTEE,
Little HOOK, July 10Th 1000.
TO THE STOCKHOLDERS OF THE CAIRO AND
FULTON RAILROAD COMPANY.
By the provisions of the charter of the
18th of January, 1853, Incorporating the
Cairo and Fulton railroad company it will
be seen, they are authorized and empower
ed to survey, locate, construct. alter, main
tain and operate railroad upon the route
of the main line of road described in the
act Of Congress granting the right of way
through the public lands of the United
States, for said railroad, and every alternate
section thereof for six miles in width on
each side of such line to aid in the con-
struction of railroad ''from point on the
Mississippi river opposite the Ohio, in the
State of Missouri, via Little Rock, to the
Texas boundary line, near Fulton in Arkan-
sas.
By the provisions of said charter the
right of way for the road through the lands
belonging to the State was specially granted
to this corporation on that line, as the same
might be surveyed and selected by it, which
the company now owns as well as the right
of way through the government lands, under
a general law of Congress. enacted previous
to that of February 9th, 1858, and through
individual property by special relinquish-
ments.
The route Of the road was surveyed by
the company and the right of way obtained
through individual prep rty in 1853 81
and at an expense to this company Of al o at
$4,000, The line Of this route has been
carefully examined and surveyed and min
ute estimates made of the cost of construct
ing such road by the most reliable authori-
ty. This survey was approved and adopted
by the company and thereafter reported to
the Governor Of the State, and was by him laid
before the legislature at the opening of its
session On the 9th of November, 1851.
From careful consideration of the pro-
visions of the 'act to aid IN Tie coustruc-
ton Of tic Cairo and Fulton railroad, "
approved Janary 18th 1856, it appears to
us manifest, that no company accepting the
lands granted by Congress to aid in the con-
struction Of this road. subject to the restric-
tions and conditions therein prescribed. or
asserting to take said lands subject to such
restrictions and conditions under the mos;
favorable view which can be taken of the
subject, can ''seU or use tjtenz,'' until twenty
years shall have expired, after the the
completion oe the road; for the second sec
tion of said act expressly declares 'that after
the expiration of twenty years from the date
OF completion of the said Cairo and Fulton
railroad, from the Missouri line, to the Tex.
as boundary line, or to the point where said
road shall cross Red river near Fulton, said
company shall pay into the State Treasury
an annual tax upon the road, fixtures, lands
and tenements, and houses equal to that
paid upon other taxable property in this
State. for the time being, and for the pur.
poses of taxation, the road, fixtures lands
tenements and houses, shall be considered
separate and distinct from the capital stock
whether all the capital stock shall be ex-
pended in building said road, fixtures, houses
/ and tenements or not. and the capital stock
| shall be exempt from taxation, as provided
| for in the 1Ith section of said Cairo and
/ Fulton railroad charter, approved the 2tl
January 1854 Procided ho1ceuer, Thai
in case the whole of said road is not com.
pleted within the time, required by the ao
of Congress making said grant of land fol
the purpose of building said road then anC
in that event, so much of said road as shal
be completed. together with the fixtures
lands. tenements. houses. ETC., pertaining
and belonging to said completed part. after
| the expiration of twenty years from the datt
of the completion of said part, shall be sub
ject to taxation in the same manner as i
provided for in this section, In case tn,
whole of said road had been completed
ProUidea, Such tax may be assessed at an,
time when said company by their directors
kshall declare dividend of ten per cent. pc
I annum upon the capital stock" Proud
ed. That said company shall not sell or US