The Van Buren press., 1866-12-21

the property OF said Central Pacific Rail.
road Company, except as hereinafter pro,
vided
Article 4. On Tuesday, the 18th day of
January, 1867, at the Office of the Mem.
phis and Little Rock Railroad Company,
in Little Rock, the stockholders of the
Memphis and Little Rock, and Little
Rock and Fort Smith Railroad Compa
MES, shall elect nine Directors from the
! stockholders of the said consolidated
companies, who shall hold their offices
for twelve months, and until their sue.
cessors are elected and qualified, and an
nually thereafter at such time and place
as the Directors may appoint.
Article 5. The domicil of said Central
Pacific Railroad Company shall be at such
place as the directory Of the company
may determine.
Article O. The work of construction
shall begin opposite Little Rock, and
proceed wcstwardly, on or before the lst
day of July, 1861, and section oftwcn-
ty (20) miles prepared for superstruc-
ture on or before the lst day of January,
1868, and the same completed on or be.
fore the first day of July, 1868; and the
road shall be completed to point oppo-
site Lewisburg, on or before the first
(lst) day ofJuly, 1869; and to Norris
town, or a point opposite, on or before
the first lst) day of July, 1870; and to
Spadra Bluff, on or before the first (lst)
day of July, 1871 and to Ozark, on or
beiose the first (lst) day of July, 1872 /;
and the entire road shall be completed
on or before the first (lst( day of July,
1873.
Article Z. Spacious and comfortable
station houses, with convenient platforms,
for the accommodation of passengers
and freight, shall be built, as the road
progresses, appoints opposite Lewisburg,
and Norristown, and at Spadra Bluff,
Ozark, Van Barren, and Fort Smith.
Article s. The principal machine shops
and works of the company, west of Little
Rock, shall be established at, or near,
Van Buren, on the north side Of the Ar
kansas river
Article 9. A first class railroad shall
be made in every respect, and the width
Of excavations shall be at least eighteen
(lS) feet at grade, and of embankments,
at least twelve { (l2) feet at grade.
Article TO- Stockholders of the Little
Rock and Fort Smith Railroad Compa-
ny shall have the privilege OF withdraw
ing their subscriptions to the extent Of
the amount yet due,-or of continuing
the same, as they may elect, and those
who have paid on subscription an
amount equal to twenty five (25) dol
lars, or any multiple OF the same, SHALL
if they desire to withdraw the amount
unpaid, receive certificate of stock in
the Central Pacific Ruilroad Company,
for the amount paid, and if the amount
paid shall not make an even twenty five
(25) dollars, then each and every stock
holder shall have the privilege ofpaying,
at any time within six months from the
date of this contract, an amount sufficient
to make his entire payments equal to a
share, or number of shares, Of twenty
five (25) dollars each, and receive GER
tificate of stock in the Central Pacific
Railroad Company for the same
Article II. If it shall appear manifest
that, by reason Of the casualties of war,
or from any other cause, any stockholder
has lost his receipts for payments made
OF subscription, he shall make an aflida-
Wit to that effect, and of the amount he
has paid, and said affidavit, when approx
| aI hxv 40 ,f L
and Fort Smith Railroad Company, shall
be sufficient voucher in evidence of the
same
Article II. All persons who are set
tiers upon any Of the lands of said Little
Rock and Fort Smith Company, who, on
the twenty-eighth (2Sth) day of July,
1866, actually resided upon the same,
shall have the privilege of purchasing
not exceeding one hundred and sixty
(6O) acres OF said land, at price not to
exceed two and one-half dollars per acre !;
and the Central Pacific Railroad Company
shall, give notice to said settlers, by pub
lication in two newspapers published at
Little Rock, and one each at Van Buren,
and Fort Smith, and by public notice,
posted at the county seat of each county
in which said lands le and settlers shall
have six months after said notice is Civ
en-, in which to make proof and file the
same in the land office of the Central Pa
csfc Railroad Compaay and upon making
payment for their land, upon such terms
as may be determined by said Central
Pac.fc Railrood Compoay, in respect to
time and manner ofpayment, they shall
receive deed for the same. Prooided
Said Central Pacific Railroad Company
shall not require payment to be made be-
fore said lands shall have Injured to said
company, under the act of Congress, of
July 2Sth, 1866,
Article l3. The Little Rock and Fort
Smith Railroad Company reserves the
right to pass and decide upon all accounts
or claims that may now be outstanding
against it, which SHALL if approved by
said company, be paid out of any money
in its ession, Progided, That the