Santa Fe gazette. [volume] (Santa Fe, N.M.) 1859-1864, 1862-10-11

newspaper IN each Of the cities OF Chicago and
Saint Louis. Said board shall organize by the
choice from its numberof president, secretary
and treasurer, and they shall require from said
treasurer such bonds as may be deemed proper,
and may from time to time increase tho amount
thereof as they may deem proper It shall be the
duty OF said board Of commissioners to open books
or cause books to be opened, at such times and in
such principal cities in the United States as they
or quorum Of them shall determine to receive
subscriptions to the capital stock Of said corpora
ton, and cash payment Of ten percentum on all
subscriptions, and to receipt, therefor So soon
as two thousand shares shall be in good faith sub
scribed for and ten dollars per share actually paid
into the treasury ofthe company, tho said presl-
dent aud secretary Of said board Of commissioners
shall appoint a time and place for the first meet
ing otthe subscrbesto the stock of said COM
pany, and shall give notice thereof in at least
thirty days previous to The day of meeting, and
such subscribers a. shall attend the meeting so
called, either IN person Or by proxy, shall then and
there elect by ballot not less than thirteen direc-
tors for said corporation; and in such election
each share Of said capital shall entlte the owner
thereof to one vote. The president and secretary
otthe board ofcOpmissloners shall act as nspac.
tors OIL said election, and shall certify under their
hands the names ol the directors elected at said
meetingi and the said commissioners, treasurer
and secretary shall then deliver over to said drec
tors all tho properties, subscription books and
other books in their possession, and thereupon
the duties Of said commissioners and the officers
previously appointed by them shall cease and de-
termlne forever and thereafter the stockholders
shall constitute said body polite and corporate.
AT the time Of the first and each triennal election
OF directors by the stockholders two additional dir
ectorS shall disappointed by the President Of the
United States, who shall act with the body of
directors, and to be denOmnated directors on the
part OF the Government; any vacancy happening
in the Government directors at any time may be
filled by the President of the United States
The directors to be appointed by the President
shall not be stockholders in the Union Pacific
Railroad Company. The directors so chosen shall
as soon as may be after their election, elect from
their own number president and vice president
aud shall also elect treasurer and secretary. No
person shall be director in said company unless
he shall DO bona fle owner of at least five
shares of stock IN the said company, except the
two directors o be appointed by tde President rs
aforesaid. Said company at any regular meeting
OF the stockholders called for that purpose, shall
have power to make bylaws, rules, and regulations
as they shall deem needful and proper, touching
the disposition Of tho stock, property, estate and
effects Of the company not inconsistent herewith
the transfer Of shares tho term Of Office, duties
and conduct Of their officers and servants. and NIL
matters whatsoever which may appertalu to the
concerns OF said company; and the said board Of
directors shall have power to appoint such engi-
neers agents, and subOrdinates as may from time
to time be necessary to carry into effect the oh.
Ject OF this act and TO do all acts and things touch
ing the location and construction of said road and
telegraph Said directors may require payment
Of subscriptions to the capital stock, after due
notice, at such times and in such proportions as
they shall deem necessary 10 complete the rail.
road aud telegraph within the time in this act
prescribed Said president, vice president and
directors shall hold their Office for three years. and
until Their successors arc duly elected aud quail.
lied Or for such less timo a5 tho by-laws Of the
corporation may prescribei and majority Of said
directors shall constitute quorum for tho trans.
action Oi business. The secretary and treasurer
shall give such bonds, with such security, as the
said board shall from time TO time require and shall
hold their offices at the will and pleasure of the
directors Annual meetings Of tho stockholders
oItho said corporation, for the choic3 Of officers
twhen they are to be chosen and for the transac.
ton of annual business shall be holden ut such
time and place and upon such notice us may be
prescribed in the bylaws
SIC 2. And be &fwtler enacted, That
the right Of way through the public lands bo and
and the same is hereby granted to said company
for tho construction Of SAID milroad and telegraph
line and the right, power and authority Is hereby
given to said company TO take from the public
lands adjacent to the line Of said road earth, stone
timber, and other materials for tho construction
thereof said right Of way Is granted to said rail-
road to the extent of two hundred feet in width
on each side Of said milroad whore it
may pass over the public hud, including all
necessary grounds for stations, buildings. work
shops, and depots machine shops, switches, side
tracks turntables, aud water stations The Unit
ed States shall extinguish as rapidly as may be
the Indian titles to all lands hbig under ;Ae
operation Of this act and required for the said
right Of way and grants hereinafter made
SEC. 8. And be IL further enacted, That
there be and is hereby granted to the said COM.
pauy, for the purpose Of aiding in the construc-
ton OF said railroad and telegraph line, and to
secure the safe and speedy transportation of the
mails, troops, munitions Of war and public stores
thereon, every alternate section of public land,
designated by odd numbers; to tho amount of Eve
alternate sections per mile on each side of said
railroad, on the line thereof, aud within the limits
Of ten miles on each side Of said road not sold,
reserved, OR otherwise disposed Of by the United
States, and to which pre- empton or homestead
claim may not have attached, at the time tho line
Of said road is definitely fixed Provided That all
mineral lands shall be excepted from the opera.
ton Of this act; but where the same shall contain
timber, the timber thereon is hereby granted to
said company. And all such lands, so granted BY
this section which shall not besold or disposed Of
by SAID company within three years after the on.
tire road shall have been completed, shall subject
to settlement and pre- empton, like other lands,
at price not exceeding one dollar and twenty
FIVE cents per acre, to be paid to said company.
Sec. A. find be aturther enacted That
whenever said company shall have completed forty
4. L 4.