Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1857-07-19
rI.sssssl.g.e e el 9. B2s, e.. e 2l &c. !. z "a e s0siA,

PrOcsecfzgs Of ne BoarE Of Director Of the South
en- Pacific RalrOad. adopted Mach q, 1857.
At = meeting Of the Board Of DIrsctoss Of ths South
err Pscne Railroad Czmpany. bed 10 the city Of heE
| Orleans. On the 27th March. 1851, the fed0glng resou.
u01s and bylaws were unanimously adCpted-
4. Resolped, That the once Of the Company shall
hereafter be kept In the city OF New OneAns, where Il
shan remaia until the road is flashed fhroush Texas
ard all the books, papers etc. BELONGING 10, OF appr
directed 70 be transmitted 70 the Secretary a. New Or
leans. The Secretary shall hereafter reside in New Or
leans. This Il TO take % G. a. soon - eSoeoD cssh
u the stock hereinafter suth0ri1ed 70 be issoec, shall b.
subscribed and paid for.
2. RetoiUed, That IL u should Be deems1 necessary 20
oatzin q loan or loans Of money, for building The road, or
any part thereof, the bonds o. the Company nay BE-
issued therefor; said bonds % Be secured % mortgaEe on
he road, lar5s or other property Of the cempanys and
that sale property 80 mortgzged shall alone b relied 9non
for payment % said b0nds; and that there shall b. no in
eiyiensl Liability on the stsa2hoiaeIs. WHISTLER Tor stoof
subscribed Tor BY them or ether liability
2. Resolved, Thai no other ave per cent stock on
ghich S. per share only shall Be stiPsisfed 20 be called
for shall ever be issued. except the tEelve UiiAo1s bare
inafler authorized but the B5aFdo irectors-tEo-tkirds
Of ne whole number ooncurn1g-may. IL t6e Interest Of
The ooupany requires IL, issue stock upon which ten per
cent OF more shall b called for; ssid stoIt o. Be paid
for In such iDstainents a. said Directors may reQGire.
& RssOired, That tn foreG1lHE resoluilDns are hereby
which tbetveive niRons q stoa hsraz4ner mentioned,
Is EHthorired 70 b. ssEzed.
s. Resolsef, nat TIE sugaing Of THIS Foaz Is emil
zeutiy a national e~nterrise, and lbst a. the rod h 20 Be-
ooustrncei 10 IN south. a. = ~ 6esire a the Board.
md ~ q large majority Of ne aoo&sn4ers, a. they be-
lew. that the nanaEsuent and control shnud be 10
southern hz0dss o. nearer and more especially i~1ferested
IN The prosecution q the sorks, and hat . msio. ity OF
ne Directors should always BE- residents Of he Soulh
Therefore the fd-sNring bs-lsE a. hereby adopted
Be 1t enacted " the Beard Of 3irecloEs OF the southern
Pacific halrosa Company INST tbs nslsrty q ne Di-
resois q said coHpSny aEi b. sct1E Esszeas Of 4he
Souttem states. I
s RsoIse< rat twelve millions q stook Be-. as4 b
herrtT 2uthorirec 10 b issued Books for ifs subscription /
may unless the stek is Otherwise taken, be opened a. !
ne Present may direct OF sstd stock IS per share
sash outy eec.lied sr and paid, md no Other irslalmenf
faceo o. aid stock.
7 Reaolgeds That TIE money pad Gu TIE foreeoing
twelve millions u stock. or other funds o. ssd Company 1
shan be subject % the order Of the Preslsenf, Tor the pur-
pose o. pairing what . due b. the Company for iron.
grading, debts. etc, End for constructing and 1zishlng
sad road p~nrchasiuz engines, cars, supplies. etc
s. Resolred. That whereas. NE charter requires that
he directors o. The road shall b-stockhaiders. a. soon a.
TIE stock i subscribed for 70 the amo1n- which v Il pay
the treasury Of the Company $500 900. End said
emounf Is 20 pad II, four Directors from the snuth shal
= ss.ectee from ne stockholders, 70 fn taePlhoa q fear
kQ1hff1 Dreeteu. ]