The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1859-04-22
ARTICLE OF conYBouIsx DxIW8Xu TH4
coxyAxIs coxrxxplHo roR rHE cHAR-
1xxYp RIaHrs, PROPERTY, AHD vRAHcHnx
or rHx SOUTHERN PACIFIC RAILROAD con.
rAsY ENTERED INTO APRIL q, lSse

Wn,s,,s The Southern Pacific Railroad
COMPANY. represented by Jeptha
rnwlkcs a. i,s President, and the
southern Pacific Railroad Company
reprcscntcd hy l. + Grant - ite l'rcs-
nlcut. each claims to he the southern
Pacific Railroad Company according
tn law and to be entitled To- the name.
charter. franchises. and property o'
said Company.
A>p WnsaEs,. The said Companies aud
their members and stockholders, have
divers matters Of litigation and CON
travcrsy growing out Of their sa'd
respective claims
~. with the view Of amicahly settling
and terminating SAID litigation ana
t.nirorersv. the said Companies have
agreed as fllows
The said contracting parties, Tor
tHa purposes and Objects of this agree
mont only. aud Ia aid 1t the execution Of
the same. hereby recognize the corporate
a Jna and being Of each other, aud Tot
convenience Of distinction aud dcsirna-
ton. the said Company represented ny
igptha fuwlkcs. rs President. shall he
called the odd Company and the SAID
Company represented hy /. 7. Grant. a.
President. shall bc called the New Com
ranN
? The New Company agrees to re-
linpni9h ana transfer to the "oid Com
rany" al their right, ttlc and claim To
the SAID Railroad. property. charter. aud
franchises for the sum oi three hundred
and sixty-two thousand dollars, 10 he
aeporti1ued among the members ana
Stockholders # the New Company or
their assignces. according to tic schcd'
ulp herrunto annexed marked a. and
In confederation OF sand REIMBURSEMENT
and transfer. the odd Company agrees
'o pay. or satisfy, SAID sum of money m
the time and manner herein provided ;
jhat Is to say
First All Judgments now outstanding
against the odd Company to bc at
1ncc paid on or otherwise satisfied aad
discharged and the amounts thereof 50
paid. which arc cr may bc Included IN
the above mentioned sum ~ three hun
drrd aud sixty two thousand dollars To-
ho deducted from said sum
Second Tho gum of Fifty Thousand
dollars. by the expiration pt t'rY'N DAY"
from the final determination of the 9nlt
pf the ~tsc Of lrSas against the south
crn Pacific Railroad Company, lately de-
ended IN favor ot defendants, ia the
District Court of Harrison County Tcsas,
from which notice of appeal 60 tic 81.
preme Court Is given hy the state
THIRD Fifty thousand dollars uniucty
day, from the Gualdctcrmination Of said
sut. with interest on each ct said sums
~ per cent per anuum ntl paul and
Fourth. Tho balance oi said SUM Of
three hundred and siNty-two thousand
dollars in ONE and two years from the
final determination ot said ~ult. with I'M
tcre,t at ; per cent. per annum until
pajd
3 The New Company" - to have and
t1hold the possession and the use a1d the
management Of said Railroad, property.
aud franchises, a. they now have, and
bold the same until the payment or dis
charge Of SAID judgments and If The
said sums of fifty thousand d'llars res
pcctivclv rs aforesaid. ar until the pay
mcnt ii said sums Of fifty thousand dol
lars respectively ia secured by means OF
/ ncHpiatl, roper, approv"d hv the firm
! uf Payne Il Harrison tOmml sion Mr.
chants II the city If New Orleans, and
( whom the said sums OF fifty thousand dol
lars respectively are paid or secured a.
] aforesaid, then the New Company" are
/ "a reinquish and transfer to the Old Com.
panvr all their right title, AMI claim To-
The ga 4 Railroad, property, chatter, aii'
lranch, SEES, and Ia" possession thereof
rrscrving mortgage or decd Il trust
on the same. to be executed 10y the "Oli
COMPANY" t. secure thc payment Of tbs
said balance of tn three hundred and
sixty.twp thousand dollars.
4 The odd Company binds itself to
pay or discharge the judgments against
the "\cw Company, amounting b. afout
twrnty-thrcc thousand dollars. by me
expiration Of four months from the date
If thc-r presents ati in the meantime,
and unlil SAID four months expire, the
"Ncw Company is bound b. control said
judgments, SO as to protect SAID Rail
road property and franchises from being
levied upon and sold to satisfy the same.
The amount Of SAID judgments paid As
aforesaid, to be considered parcel of, and
payments pre- iant0 of the SAID sum Of
fifty thousand dollars first due.
.. The suit entitled the Southern Pa.
ciGc Il K. Co. vs. Jefferson NJ Sanders
ct dis, No, 1901, pending IN the District
Court of Harrison County, is to be dis
missed by the plaintiff, upon the signing
and sealing Of this agreement.
6 When any of the debts or claims
specified in schedule A, hcrcuuto annex
ed. are paid in whole or in part, by the
"Old Company AZ hcroinbciorc Prov
dcd, and said debts or claims are repre-.
scented by stock in the New Company"
or for which the New Company" has
heretofore agreed to issue stock, the
"Old Company shall be subrogatcd to
the ownership Of said stock pro !orio
with said payment, and shall be entitled
to all the rights of the holders Of said
claims, as creditors or otherwise, and TO
demand Of the stockholders whose debts
or claims are so paid, the transfer to the
"Old Company or snch persons IA it
may appoint on the books Of the New
Company" of said stock pre- rata with
such payment, and upon final payment
or satisfaction of said Judgments and Of
said sums of fifty thousand dollars res
pcctivcly, "a hcreinbctorc provided, the