Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1859-05-11
rrnll. lIAnA.lR-rl1I-..l.
Tie Comm romise.

rany. represented hy l., p, Grant, as il. PTe.'
ilcnr. each claims t0 ha tho Southern fao'h'
Railroad Company according To law, and n d,
entitled 10 the name, charter. franchises ana
property or saii ComTany' and
WnmE,s, The ,a'l Computes ani their MON,
hers and sI0rkhuldcrs, have divers matters W
litigation and controversy gr0winsout Os 1NeF
said respective claims
Now, with the view of amiclhly settling ana
tcrmiuu ing said litigation and controversy
the said companies have agreed nS follows
|, The said contracting parties for the nnr'
poses and objects nl this agreement only, ana IN
aid of tho execution Of the same, hereby r'cngnpH
the corporate name and being OF each other ana
for convenience of distinction and de''gna,,'n'
the said Company represented hy J"ltln f"W'N',.
as President: shall he called the sold Company,
and the mid Company represented ly t., T.
Grant ~ President; shall be called the "NeW
Company
>. The "Ncw COMPANY" agrees To relinqnls'l
and transfer tn tho "Old Company all their
right tt.o and claim To the said Railroad, pro
rerty. charter. aud franchises, for the sum OF
threG hundred and sjSty-two thousand dollars !"
be uppur,iuncd among the members ana s'ocS'
holders ui the New Company or their assisli'
ccs. according 10 the schedule hereuntO annexed
marked "a :" and in consideration OF said rcIin,
ouishment and transfer, the "Old Company
u,,rers 10 nav, or satisfy said sum OF money, IN
the time and manner herein provided; that is TO
say
First. IN judgments now outstanding against
the "Oll Company to he Mt once puId oh' OF
otherwi., satisfied aud discharged, and tne
amounts thereof, 50 paid, which me "r may DC
included in the above mentioned sum OF t"rse
hundred aud siXty-two thousand dollars 10 DC ue'
ductcd from said sum.
second. The sum Of fifty thousand dollars, .y
the expiration of thirty days from the hnal ue-
termination oc the suit of the State o' ieAa'
nruiust the Southern Pacific Rnirodd Company
lately decided in favor Of defendants, IN tl7
District Court OF Harrison county, Texas rom
which notice OF arpco! t, the Supreme Court Is
given by ,he State. ,..
Third Fifty thousand dollars m ninety Gays
from the final dissemination OF sald SUIT "lth
;,ter.st on each OF ,ai! sums 1T s per cent per
unumm until paid, and H..
FnurtL The balance of said sum oil tnfee
hundred and sixty-two thousand dollars IN enc
and Two wears from the final determination "i
said suit with interest at per cent. per anH"M
until pnd. ,.., ,,d %
! g The ..Ncw Company" is to have ana TO
hold the possession and the use ana the lhah!'S1-
mont of gaid Railroad, property, and iranc,''I',
~ tLov now have and hold the same until Ihe
n,vment or discharge Of said Judgments and oil
lhs sn;d sums of fifty thousand dollars respective
Iv as aforesaid, or until the payment OF said sums
IF frtv thousand dollars respectively IS secure"
nv mems of negotiable paper, approved ny NV
;;yym Of Pnyno & Imrriaon. Commission Mercl"ht' ,
nr Aha citv of New Orleans. and when the salu
sums Of Grty thousand dollars respectively are
rnid or secured as aforesaid, then tle NT"
| iompany" are to relinquish and transfer W :''
HOld Cnmnanv" all their right, title and clam
to the said rairoad, property chlrter, ""u r,"'
l rhises. and the possession thereof reser,'"9 d
nnrt,,ce or deed of tru st on the same TO ne eA
ceutei by the "Old Company' to secure tre pay
menC Of the said balance OF three huhureu ""0
| sixty.tw0 thousand dollars. . ,r.,,,
A. The cold Company" binds itself to pay Oh
Discharge the judgments against the me" Oo"''
,,any" amounting TO about t"enty-Ihrec
dollars, by tine expiration OF tour lhohVnS :%t"' %
r ,ha dnte o. these presents; and IN the meantime
omd mill said four months expire, the "NeN
Il CnmnAnv" is hound to control SAID Judgments
sn ns to nrotect said Railroad property ana iran
ch;sps from being levied upon and sod To saUiS.
n The same The amount of said Judgments ia''
os ,fnresoid to be considered parcel Of ana pay
r m,orta pro ic,to OF the said sum oi fifty thonS@l
; dollars first due. ,
+ : The suit entitled the Southern Paciiic l,
y r Go. vs. Jefferson NJ. Sanders eI as NO. 81 u
vending in the District Court of llarrlson county
Is 10 be dismissed ny the plaintiff, upon 1sio s'S
e sing and sealing of this agreement, a,,,;f, :,
% u. w len any Ol lic uO''p' Vi '
l. :, scbelule \, hereunto annexed are pala
II whole or in part. by the "Old Company, :"
s. l'erenarter provided, and SAID debts or claim
J. ,,., r.nresented by stock in the 'NewCompahS
J. ~. f,r which the New Company" has heretoior
Yrrnrd to issue stock. The sold Company Sn"I
l. he subrogated to the ownership OF salu sVoGh r.
IL to,io with said pa yment, and snail De ohEi'io'
: all the rights Of the holders OF saio c''l''n .i'
IL crpditors or otherwise, and to demand oi vi
stockholders whose debts or claims are SO p"in
the transfer TO the sOld Company or such r'r
e sons as it may appoint on tine books Of the Ne,
&c Cnmrany." of said stock pro rata with sucn pay
= mont and upon final payment or satsiacuon
ot said judgments and of said sums of tity thot
l. sand dollars respectively as hereinbelore Prov
J. ed. the "New Company will deliver 10 inc ~"
! Company" it's stoci and Office books anu se"l
. Office. 1t is further stipulatca' thaU "p' ..
ID Railroad property and franchises are deiiNef'
as aforesaid to the "0ld Company, VI perSol
ouno;nted to receive the same as herein eXPres
"a cdi the stock to which the''Old Company or
,d n,oointees are subrogntod aIOre said, shall n
II ha rcnresented in any meeting nr vote OF l.
m Stockholders or directors OF the New Company
m While the New Company continues
az the nosscssion of said Railroad property u,
- franchises and until the same is delivered to u
;f .t0Ii Cnmnanv. ;; ns aforesaid, the "Old Comp
- nv'' NAV have the privilege of proceeding
to work unon. and construct said Railroad, ana
hc use the locomotives and cars thereupon to alu
cd said work and construction, provided that l
e. exercise Of said privilege shall not Interfere WI
he the use and control Of said Railroad proper
%, and franchises by the New Company, a
he shall not be adverse to the title ot the IN
st Company,'' and the usa of said cars and LOGON
tiycs by the "Oid Company shall &c at Its o.
expenses and cost
20. 3. The "Old company binds itself to h,
ng the ..New Company harmless of all debts, le
-s7 or incumhrancss against said Railroad proper
On and franchises created hy itself; and the ~
sa- Company binds itself to hold the .'O!d CONF
II NV harmless of all debts, lens and incnmFo
nm cSs ainst said Railroad property and trAnc'hs
.,t c-ootcd by itself The ''New Company a.
re- orass 10 call back to its Office all its stock WIN
Il. Il, NAV have been put into the hands of any Q,
ore oicers OF agents for sale or il any shares l'
~ Of have bee9 sold, then w New Company I.
tee account for the proceeds thereof.
-