The true Democrat., 1855-07-24
Report of the Cairo and Fulton Rail-
 road Company.


 Resolyed, That it is inexpedient for the stock holders to take a y definite acton at this time, respecting the act of the General Assembly of this State, approved January 16 1855, entitled " on 0ct to md n he construction ofthe Coaro and Fulton rairoad" and that the same be and is hereby referred back to the board of directors, with full authority to take such action, in re- gard thereto, as they shall, under this resolu- ton and the provisions of the charter of the company, deem most conducive to the interests of the State and the rights of this company.
 In pursuance of the foregoing resolution, adopted at the annual meeting of the stock hold CTS of the Cairo and Fulton railroad company. held in Little Rock on the 7th May last. a meeting of the board of directors was appointed for the 14th inst, for the purpose of considering the matters contemplated by sad resolution at which time aquorum was notpreseut. In these circumstances, by rule of the board, that duty 1, properly deVolved upon the executive commit tee, ln the performance of which, they present the following report:
 OFFICE OF THE CAIRO & FULTON R. R. Co) ErecutiUe Committee
 Little Rock, Ark, July 18th, 1855 } 7o tue stockholders cfthe Cairo 3 Fulton R. R O. | By the provisions of the charter of 12th Jan- ualy, 1855 incorporating the Cairo and Fulton railroad company, 1t will be seen, they are all- thorizcd and empowered to survey locate, con- struct, alter, maintain and operate a railroad upon the route of the main line of road describ- ed in the act of Congress granting the right of way through the public lands of the United States, for said railroad, and every alternate sec- ton thereof for six miles in width on each side of such line to aid in the construction of rail- road 'from point on the Mississippi river op- posite the mouth of the Ohio, in the State of Missouri, via Little Rock, to the Texas bounda- ry line, near Fulton in Arkansas."
 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 corpo- ration on that line, as the same might be sur veyed and selected by it, which the company now owns, as we'll as the right of way through the government lands, under general law of Congress, enacted previous to that of February 9th, 1853, and through individual property by special relinqushments.
 The route of the road was surveyed by the company, and the rightof way obtained through individual property in 1853-'54 and at an ex- pense to this company of about S25,OOO. The line of this route has been carefully examined and surveyed and minute estimates made of the cost of constructing such road by the most rela- ble authority. This survey was approved and adopted by the company and thereafter report cd to the Governor of the State, and by him laid before the legislature at the opening of its session on the 9th of November, 1854.
 From careful consideration of the provis- ions of the 'act to oid in the construction of Ae Cairo and Fulton railroad," approved January 18th, 1855, 1t appears to us manifest, that no 4l L,,o gress to aid in the construction of this road sub- feet to the restrictions and conditions therein prescribed, or assenting to abide by them, by agreeing to take said lands, subject to such restrictions and conditions, could, under the most favorable view which can be taken of the subject, "seN or use Mena," until twenty years shall have expired, after the completion of the road; for the second section of said act express ly declares "that after the expiration of twenty years from the date of the completion of the said Cairo and Fulton railroad, from the Mis- souri line to the Texas boundary line. or to the point where said road shall cross Red river near Fulton, said company shall pav into the State Treasury an annual tax unon 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 purposes of taxation, the road, fix lures, lands tenements and houses shall be con- sldered separate and distinct from the capital stock, whether all the capital stock shall be ex- pended IF building said road, fixtures, houses, tenements or not, and the capital stock shall be exempt from taxation, as provided for in the eleventh section of said Cairo and Fulton rail- road charter, approved the twelfth January, loo3; Provided hoaOever, That in case the whole of said road is not completed within the time, as required by the act of Congress making said grant of land forthe purpose of building said road, then and in that event, so much of said road as shall be completed, together with the fixtures, lands, tenements, houses, etc., pertain ing and belonging to said completed part, after the expiration of twenty years from the date of the completion of said part, shall be subject to taxation in the same manner as Is provided for in this section, in case the whole of said road had hoop c0p, p1oto6. p,o,udoI Such tax may