, 1862-08-23
masbin9ton Statesman.
SATURDAY MORNING, AUG. 20, 1862.
Railroad to wallula.


We have already presented to our read
ers the facts and figures for the completion
of this much needed enterprise, and as in
timated, we now propose to give synopsis
of the charter granted to the citizens of
this county by the legislature at its last
session, and invite the attention of all to
its consideration, so as to be prepared for
some definite action thereon within the
next twelve months.
In the charter granted, A. ]. Cain, E. B.
Whitman, L. A. Mullan, w. J. Terry, c.
H. Armstrong, J. F. Abbott, 1. T. Reese,
S. NJ. Baldwin, E. L. Bonner, w. A. Mix,
Chas Russell, J. A. Simms, Jesse Drum
haller, Jas. Reynolds, D. S. Baker, Geo.
E. Cole, S. D. Smith, J. J. Goodwin, Neil
McGlinchy, ]. G. Sparks, w. A. George,
j. NJ. Vansyckle, W. w. DeLacy, A. Sci
tel W. A. Ball, B. F. Stone, ]. Schwa-
bacher, B. P. Standefer, S. w. Tatem, w.
w. Johnson, and such other persons as
shall or may be associated with them, are
created body polite and corporate for the
purpose of building e railroad with one or
more tracks, with necessary depots, stations,
etc., from Walla Walla to Wallula, on the
route selected as the most exped;ent and
advantageous.
Section I'd provides that the company
-lo11 LIE of No
survey and locate the general line of the
road, and file map thereof in the Office of
the Secretary of the Territory, and single
track is to be completed for operation by
November, 1868 The usual provisions are
made for opening books for subscriptions,
and for the election and qualifications of
officers. The officers are a President, Vice
President, and Board of Directors, whose
terms of office are one year.
Section 6th provides that " each stock
holder of this company shall be individually
liable to the creditors of such company to
an amount equal to the amount unpaid on
the stock held by him, for all debts and IL
abilities of such company, until the whole
amount of the capital stock as held by him
shall have been paid to the company; and
all the stockholders of said company shall
be jointly and severally liable for all the
debts due, or owing to any of its labOrers
and servants for services performed for such
corporation, but shall not be liable to an
action therefor, before an execution shall
be returned unsatisfed in whole or in part
against said corporation, and then the
amount due on such execution shall be the
amount recoverable with costs against such
stockholders.
Section 9th provides for the purchase and
procuring of such lands as may be found
necessary.
Section 10th limits the amount of fares
for passengers at ten cents per mile, and
for freight at forty cents per mile per ton.
Section l1th authorizes the directors to
require the payment of the amount of cap
ital stock subscribed, in such amounts and
at such times as shall be deemed necessary
to complete the line within the time pre-
scribed, thirty days notice being given of
the time and place of payment; and in case
any stockholder refuses to pay, his stock is
forfeited to the company, together with all
previous payments made thereon. For
feited stock may be redeemed, if in the
opinion of the board of directors such re-
demption shall be just.
Section 18th requires the directors to
make an annual report of their proceedings
and expenditures, verified by affidavit,
which shall be published in a newspaper
at Walla Walla.
In order to secure the benefits of this
charter, active operations must be COM
menced within five years from the passage
of the act, and the charter is to continue in
force until 1880.
The capital of the company is fixed at
three thousand shares of one hundred dol
lars each. The capital stock should be in
creased in amount to seven or nine thous-
and shares, so as to afford ample means to
carry on the work to a successful compile
ton.