Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1859-05-04
rNn lu- Nar.,eH Bgrua.,u,
New Policy Of the Bo3 3,hcu Paoiao Railroad

i PASSED on the ib.b day bi February, ihl@, uu-
der the name OF Texas N,stcrn Railroad Com
pany, and tho charter yaIs, ON the 10th day o0
August, lS5G, modified kpi amended, whereby
its name WIS changed 10 that of the Southern
Pacific Company; and Whereas, many Of the
trusts AMI franchise, therein granted have been
exercised beyond the territorial limits OF tie
State of lcEUs, IN tho cSeruiscS of which yari.
Gus contracts have been entered into without nn'
thurty in law, as we are advised 10y tue Nttur-
noys Of tho Company, TO make the same legal
aud binding uI0u the Company, but tho fame
were and are Lull and void for that reason, under
/ the plain provisions of law, as follows to.wit
\ ~ private corporation, whose charter is been
granted by one State, caanOt hold meetings, P'ls
votes, and exercise powers M nuy other state II
can have uu legal existence out ut the houdnres OF
the soycrcruy by which It is created, mas' dwell IN
the place of Us creation, aud cOnno, migrate toaU'ihrr
/ sovereignty" ty."-Angoll y Ames ON Cor. Ia p. A''
I 10 Peters il. p. 5ij "A Peters Il, p l2J /. Lou.
/ Rep. p, 81. 1iShcplcy Rep p ao'.
" Il by no means follows, however, taa. because n
corporation may, by It's cCruurc agents, general or
special, net and contract without the limits oi Hhe
State which created il, tim; the corporation iiselI
may meet out Ot the limits Of the state, and there
create nud authorize is agents. On the contrary,
in late ia Maine, was expressly decided that
such an eNtr-tcrItovia mcytiug, unless author 4gi
by the charter or general law, was absolutely void
Angel " Amcs ON Cor %, 800, 9th Ed.
/ And whereas many OF tiese eXtru-teriltolNI
contracts h We been uUda ppOn inadequate con-
sideration: in others there has hocn failure Of
consideration; and in others, still, there has
been bad faith in the attempted execution; from
allof which errors. doie9ts in proceedings, and
dirclections, this company has been brought TO
the very verge of ruin, now. therefore,
BE il Rcsoired, That alt stch contracts arc null
and void and the same lc md are declared YuId aud
imperative upo- this company, and held by for
naught,
And dwherc 8. many transactions, entered into
beyond the limits Of the Stnte OF Texas, and un-
der authority emiuating from an attempted cA-
ercsc OF powers ont Of the said state, have been
made in good faith, and the Company has cery-
ell substantial benefits therehom. and should, m
justice and proprioty be recognized and icg ny
u loptcd and rendered valid and binding upon 10,
and should be carried out by the CompGy us
speedily us is practicable, now, therefore,
De il further Rcsolrrd, That Il committee Of TrmGG
persons he appointed from the Directors If SiOckhold-
ers the President being member thereof who shat
be clothed with full power to Investigate, at any
place in til United States, at such times as they may
appoint MI contracts obligations, and transactions
of the Company, v.h MI persons and II, upon slrn
investigation, said comutto" sh&l. lie satisfied that
said contracts have been cntTel into in good faith,
Cor beneficial objects to the Company, and have been
ial fully executed without injury on damage to the
Company, the1 said committee shall have, oni are
hereby invested with fail to ana rliIlE
the same bat if srfd committee should be satisfied
that s,d contracts ha We mot ieen faithfully cyccnai
and performed, or that the ,/.apauy has leryol no
ke-ert therpf4r. Laru.Gi sI5 Eaitaa 'a7tg.}ft o.
compromise said contracts upon principles Of jastto
and equity, or may Ol1ly rriett and declare l"'nii
the same Il majority thereof SIGNING HI lcisiitiS
the same and s,ii committee sha', r'lsr an report
all they may do in pursuance hereof to the lls(un a
Of the company, who shall approx, !Aef A''s 81 t''
as he may think the same wise ah" j'' "n' 'u,,i,
Give to the hest interests oi ,'' go'n"',S o''' ,
he shall report inc &ct'on "l S"'n oo1.''rS ~ "'
boaia OF plf'c'olS 'Ir 'Icr iPi',%l y, lo,a
hut II the fr'a,n'I' approve 't' 'o;"" ", ,,'' o.
mi',Ge' ne Sn'l fe-oNec"o '-' I,,o A., ,r.
nou''y yr ,' gum ,,s ' Al, in ,,fJ cou-
nistoo 'Gs @o ,c 1o i " ', r nav occur al