Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1865-02-18
OFFICIAL.
LAWS OF THE UNITED STATES.
Pa.sed at tile First Session Of tile Thirty
Eighth Congress.

AN ACT to amend an AcC eutltIeu All hCL
to aid in the Construction of Railroad
and Telegraph Line from the Missouri
River to the Pacific Ocean, and to secure to
the Government the Use of the same for
Postal. Military, and other Purposes" ap.
proved July first, eighteen hundred and
sixty-two.
Be IL enacted By the Senate anil House
of Representatives. Of tile United States
Of America in Congress assembled. That
the capital stock of the company entitled the
Union Pacific Railroad Company, authorized
by the act of which this act is amenaa'ory,
shall be in shares Of one hundred dollars, in-
stead of one thousand dollars, each; that the
number of shares shall be one million. instead
of fonr hundred thousand; and that the num-
Der of shares which any person shall hold to
entitle him to serve as o director in said
company Excerpt the five directors to be ap-
pointed by government) shall be fifty shares.
instead Of five shares and that every sub
scriber, to said capital stock for each share Of
one thousand dollars. heretofore subscribed,
shall be entitled to a certificate for ten shares
of one hundred dollars each and that the
following words in section first of said act /:
(which shall be subscribed for and held in
not more than two hundred shares by any
one person." be, and tho same are hereby, re-
pealed.
Sec. 2. And be 1t further enacted. That
the Union Pacific Railroad Company shall
cause books to be kept open to receive
subscription to the capital stock of said COM
pany, (until the entire capital Of one hundred
millions of dollars shall! be subscribed,) at the
general Office Of said company in 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
designated by the President Of the United
States, and in such other localities as may
be directed by him. No subscription for said
stock shall be deemed valid unless the aub-
scriber therefor shall, at the time of sub
scribins, pay or remit to the treasurer Of the
company an amount per share subscribed BY
him equal to the amount per share previous
ly paid BY the then existing stock holders.
The said company shall make assessments
upon its stockholders Of not less then five dol.
lars per share, and at intervals of not exceed
ing six months from and after the passage Of
this act, until the par value Of all shares sub
scribsd shall be fully paid; and money only
shall be receivable for any such assessment,
q ~ equivalents for any portion Of the capi-
tal stock .hereinbefors authorized. The
capital stock Of said company shall be trans
ferrable on the books of the company, at the
general Office Of said company 10 the city Of
New York. q At such other transfer Office a
the company may establish.
Sec. 3. Asd be Il further enacted. That
the Unioa Pacific Railroad Company, and Ill
othse eompanies provided for in this act and
The ct - which thin is IN amendment. be,
~ here ass. empowered to eater upon.
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