Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1865-06-15
IPUBrr~ ~ 1871


rp,---- ~. 1851
.NACT+o ---!ilff an act entitled "An act to
~ "a a NE construction ola railroad and tee-
graph line from the Missouri river to the Pa
eff, ocean, and to secure 10 the government
the use OF the same for postal, military, and
other purposes" approved July frs; eighteen
hundred and siXsy-two.
Be al enacted by the Senate and House Of Repre-
SeHtGtipeS Of the United States Of America an Con-
grgSS assembled.
That the capital stock of the company entitled
the Union Pacific Raj road Company, authorized
b, the acs of which this act is amendatory, shall
be i shares # one hundred dol ars iostead Of
one tnous md dollars, each; that the number of
shares shall b. Oae n iiliOr, instead of one hun
DIR d tn usand; and that The number of shares
which any person stall h)ld to entlte him to
serve as a dlrtctOr in said company (excsrt the
five directors to be appointed by goverment)
shall be fly shares, instead of FIVE shares; and
and that every subscriber to said capital stock
for each share Of one thousand dollars, here ofore
suOsc ibed, shall be ettitled 10 a certificate fer
ten shares of one hundred dollars c Ach; and that
the following words in section first of sail act
(Which shall b. inscribed for and held in not
more than two hundred shares by any one per-
son." he, and the same are he!eby, repealed.
SEC. 6. Ind be 1t further enacted, That the
Union Pacific Railroad Company shall cause
books to be kept open TO r ceive subscriptions to
the capital STOCK of said company, tuutl the en-
tire capital of one hundret millions of dollars
shall be subscribed) at the general Office OF said
company ia the city of New York, and in each
of the cities of Boston, Philadelphia, Baltimore,
Chicago, Cincinnati, and Saint Louis, at such
places as may be designa ed by the President of
the Ualted States, and i'll such other LOCALITIES
as m ~ be DIRE ted by him No subscr ption for
said seek Shall be deemed valid unless the sub
scioef therefor shall at The time of subs erlbing
day or remit to the treasurer OF the company an
amount per share previously paid by then exis
ting stockhol3 ers. The said company shall m Ike
assessments upon its stockholders of not less than
five dollars per share, and at intervals of not
cnadynp months from and after the passage of
this set. until the, par value of all shares sub
scrbed shal be fully paid any money only shall
Re receivable for any such assess nent, or as
equivalents for any portion of the capital stock
hereinb Fl re authorized. The capital stock of
said company shall not be incr eased bevopd the
actual cost of said road. Az the stock of ths
company shall b. deemed personal property, and
shall be transferable on the books of the COM
ptny, at the general office OF said company in
| the city of New York, or at such other transfer
office as the company may establish
| SEC. 8. And BE- it further enacted, That the
| Union Pacific Railroad Company and all ether
companies provided for in tn act and the act to
| which this is an eminent, b., and hereby are,
| empowered to enter up N, purchase, take, and
| hold any land or premises that may be necessary
| and pr per for the construction and working of
| sail road, not exceeding in width one hundred
feet on each 6 de of its center line, unless a
| greater width be required for the purpose of ex
| cav 'tion or embansment; and also any lands or
| premises thaG may be necessary and proper Tor
turnouts standing places for cars, pots, ation
| houses or any other structures required in the
construction and operating of SAID road And
/ each of said companies shall have the right to
| cut and remove trees or other ma erlaHs that
| might by falling enc amber its road bed through
standing or being more than one hundred feet
therefrom. And in CASE the owner or claimant
| of such aBds or prem ses and such company can
4 not agree as to the damages, the amount shall be
determined BIZ the appraisal Of three disinerested
| commissioners, who may be app tinted upon ap-
| plicaion by any party TO any judge of a court