Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1858-11-10

MHEgEAs, lep,ha F0Wikes, President OF the
SouThem Pash Railroad Company, chartered
by the State 0i Texas, in behalf Of the Di,
Fi,loTs, and Stockholders Of said Company, be-
inc fully authorized lheTeto, has submitted to
l., T., Grant, President Of the Southern Pacific
Railroad company, organized under the act Of
the Legislature 0f the State Of Texas, ap,
proved the 10Th Of December 1851, certain
points OF difference between their respective
organizations, Ia the undersigned Tor inal al,
iusiment, determination and award. Each
party, as aforesaid, Ia behalf 81 their respective
organizations as aforesaid, being fully author,
ICED and empowered 10 act in the premises,
aud each in behalf Of his respective company
OF organization as aforesaid, having entered
into a bond 10 the other in the sum OF i've
hundred thousand dollars, conditioned To abide
their own agreement, anl the award OF the
undersigned or a majority Of the same in the
premises,
ANn WHEREAS, The party Of the first part
has proposed TO the party OF the second part,
that all bong fRe debts agnins, the Company
in the hands Of the New Company shall be
paid oil, one,iounh in three months, onc.iounh
in FIVE months, onc.lour'h in seven months, and
the remainder in nine months, in cash, or with
such negotiable paper as shall be good and np.
proved by majority Of the Committee.
To pay the moncycd demand held against
the Company, and merged in the stock OF the
Company, 10 receive and take ns payment be
made a transfer Of the stock with the debt,
AHD WHEREAS. The party Of the second part
agree that the LOWG .fRe stockholders Of the
"sod-out Company" may be permitted TO pay
all the debts recognized and contracted by the
said S. p, Il. L. Company, provided the same
shall be paid by the expiration Of three months.
And the party OF the second part, in consldcra.
tion of such payment, agree that all the stock
held by the corporatorS OF said Company, rep
rcsentng said debts, shall at the time OF said
payment, in full, be transferred to the JoMa fic
stockholders.
AND WHEREAS, Both parties agree that the
undersigned shall settle aud determine who
are bona .fic stockholders.
Now, therefore, touching the points of dif-
ference in the foregoing propositions between
the parties, the undersigned award and detcrm-
inc that the said party OF the first part shall
pay and satisfy in cash or good negotiable pa.
per. to be approved by the undersigned, all the
bona .fdc debts held by the party of the second
part, merged in or represented by their stock
III lhiCC tVull pay At HllclNalS VI suECc,
five and seven months from this date.
IL is further awarded and determined, That
on the final payment; as aforesaid, the said par
ty of the second part i, aoa;gn and deliver
over to such parties o, the a.. part, as may be
determined to be boae tide stockholders in the
Company of the party FIRST aforesaid, all the
stock in the Company of the second part rep.
resenting the debts origj.aiiy due from the par.
ty of the first part. and converted into stock in
the Company of the party of the second part,
as aforesaid.
The party of the second part proposes that
on executing the agreement proposed for pay
ment and transfer of stock as aforesaid, that
the the party of the first part dismiss certain
suit now pending lie the District Court of Har-
rison county, Texas. wherein S. p. f. Il.
Company are plaintiffs and J. NJ Saunders
and others, defendants The party of the first
part agrees that the undersigned Shall be in
vested with full powers to direct the institution
or dismissal Of suits between the two Compa.
nes, and against others, jointly or severally,
and make such orders and requirements from
time to time as it may deem best to further the
objects of the agreement.
IL aras therefore awarled anil determincd,
Touching the matters last aforesaid that if
the party of the first part shall make default
in their said several payments, us herein before
awarded to be paid, or any one thereof, then
and in that case the said suit snail stand dis
missed at his cost, and all the rights claimed
by the parties therein shall be and remain for.
feited, aGu henceforth of no avail whatever.
it IS further a,oarded and determined, That
should the party of the first part make default
and forfeit as last aforesaid, then and in that
case the said party of the second part shall sue
ceed to all rheir rights and privileges. And
the undersigned, regarding the assets or prop
erty of such corporation as trust estate,
equitable liable in whatsoever hands it may be
for all the just and boqa fde debts, crea ed for
its benefit, alike without discrimination, doth
award and determine that in case of forfeit
ure Of the rights of the parties of the first as
aforesaid then and in that case the said party
of the second shall pay and satisfy all the just
and Iona fae debts of the right due and owing
on account of said Southern Pacific Railroad
Company in three equal payments, at three,
five and seven months from such forfeiture,
such debts to be examined and approved by the
undersigned.
The undersigned being fully authorized
thereto by the parties aforesaid, doth award,
order and determine that all the stock claimed.
held or owned in the Company of the party
of the first part, and each and every member
thereof, be transmitted to the office of said
Company, at Marshall, Harrison county, Tex
as, within six months from this date. 1t is
further ordered and determined, that in de-
fault hereof the said stock be held and con-
sider.d barred and forever forfeited.
That all stock surrendered and transmitted
as herein provided and approved as bona .fde
stock shall be entered upon the books of the
Company to the credit of the owner, and
reissue made and returned to the same in lieu
of the stock now outstanding.