The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1866-10-13
13, 1866.

A. Secor, Samuel K. Campbell, Alfred E. Tilton,
dy, 81. Carver, Joseph Field, Benjamin F. Camp,
0rville w: Childs Alexander j. Bergen, Ben.
William q. Grant, Thomas W olcott, Samuel B.
Ruggles, James B. Wilson, of New York; Eph-
rain Marsh Charles M. Harker, of New Jersey;
John Edgar Thompson, Benjamin Haywood, Jo-
seph 81. Scranton, Joseph Harrison, George w.
Cass, John H; Bryant, Doniel j. Morel, Thomas
John A. Green, E. R. Myre, Charles F. Wells,
junior, of Pennsylvania; Noah L. Wilson, Amasa
Stone, William 81. Clement, s. S. L'Hommedicu,
derfer, of Ohio; William NJ McPherson r. w.
Wells, Willard P. Hall, Armstrong Beatty, John
Corby, Of Missouri; S. J: Hensley, Peter Dona-
Charles Marsh, b O. Mills, samnel Ben, LOUIS Louis
Timothy Dame, John R. Robinson, of California;
John Atchison and John D. Winters, of the Ter
Gearles A: Trowbridge, and Ransom Gardner,
Charles w. Penny, Charles T. Gorham, William
Mcconnell, of Michigan William F. Coolbaugh,
sherman, Lyman Cook, Samuel R. Curtis Lewis
A. Thomas, Platt Smith, of Iowa; William B.
Ogden, Charles G. Hammond Henry Farnum,
Bushnell and Lorenzo Bull, of Illinois; William
II. Swift, Samuel T. Dana, John Bertrm, Fran
kiln 8; Stevens, dward R; Tinker, of Massachus,
Sohn T: Lewis, Of Kentucky; James Dunning,
John H. Wood, Edwin Noyes, Joseph Eaton, Of
Maine; Henry 81. Baxter, George W, Collamer,
William s. Ladd, A. NJ Berry, Benjamin F. Har-
ding, of Oregon; William Bum, junior, John
Phillips, Walter D. McIndoe, T. B. Stoddard, E.
H. Broadhead, A. 81. Virgin, of Wisconsin;
Charles Paine, Thomas A. Morris, David c. Bran
ham, Samuel Hanna, Jonas Votaw, Jesse L. Will
liams, Isaac c. Elston, of Indiana Thomas Swan,
Chancey Brooks, Edward Wilkins, of Maryland;
Franciss R. E. Cornell, David Blakely A D. Sew
ard, Henry A. Swift, Dwight Woodbury., John
McKusick, John R. Jones, Of Minnesota; Joseph
A. Gilmore, Charles w. Woodman, of New Hamp
hirn. n
mas, John Kerr, Werter R. Davis, Luther c.
Challiss, Josiah Miller of Kansas; Gilbert C. Mo-
nell and Augustus Kountz, 7. NJ. Marquette,
William H. Taylor, Alvin Saunders, of Nebraska;
John Evans, of Colorado; together with five COM
missioners to be appointed by the Secretary of
associated with them, and thei- successors, are
hereby created and erected into 4 body corporate
and polite in deed and in law, by the name, style,
and title of q The Union Pacific Railroad Com
pany;" and by that name shall have perpetual
succession, and shall be able to and to be
sued, plead and be impleaded, defend and be de-
Tended, in all courts of l.w and equity within the
United States, and may make and have common
SEAL and the said corporation is hereby authoriz-
ed and empowered to lay out, locate, construct,
furnish, maintan and enjoy continuous railroad
and telegraph, with the appurtenances, from u
point on the one hundredth meridian of longi-
tude west from Greenwich, between the south
margin of the valley of the Republican River and
the north margin of the valley of the Platte River
boundary of Navada Territory, upon the route
and terms hereinafter provided, and is hereby
vested with all the privileges, and lmmu-
mites necessary to carry into effect the purposes
of this act as herein set forth. The capital stock
of said company shall consist of one hundred
thousand shares of one thousand dollars each,
which shall be subscribed for and held in not
more than two hundred shares by any one per-
son. and shall be transwerable in such manner as
the bylaws of said corporation shall provide.
The persons hereinbetore named, together with
those to be appointed by the Secretary of the In
terror, are hereby constituted and appointed COM
missioners, and such body shall be called the
Board of Commissioners of the Union Pacific
Railroad and Telegraph Company, and twenty
five shall constitute u quorum for the transaction
of business. The first meeting of said board shall
be held at Chicago at such time the commits
sioners from Illinois herein named shall appoint,
not more than three nor less than one month af-
ter the passage of this act notice ofwhich shall
be given by them to the other commissioners by
depositing call thereof in the post office at Chi
cago, post paid to their address at least forty
days before said meeting, and also by publishing
said notice in one daily newspapers in each of the
cities of Chicago and Saint Louis. Said board
shall organize by the choice from its number of
president, secretary, and treasurer, and they shall
require from said treasurer such bonds may be
deemed proper, and may from time to time in
crease the amount thereof as they may deem pro-
per. 1t shall be duty of said board of commits
sioners to open books or cause books to be open
ed 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 corporation, and a cash pay
ment of ten per centum on all subscriptions, and
to receipt therefor. So soon as two thousand
shares shall be in good faith subscribed for,
and ten dollars per share actually paid into
the treasury of the company, the said president
and secretary of said board of commissioners
shall appoint time and place for the first meet
ing of the subscribers to the stock of said compa
ny, and shall give notice thereof in at least one
newspaper in each State in which subscription
books have been opened at least thirty days pre-
vious to the day of meeting, and such subscribers
as shall attend the meeting SO called, either in
person or by proxy, shall then and there elect by
ballot not less than thirteen directors for said cor
poration; and in such election each share of said
capital shall entitle the owner thereof to vote
president board
missioners shall act inspectors of said election
and shall certify under their hands the names of
the directors elected at said meeting; and the
said commissioners treasurer, and secretary shall
then deliver over to said directors all the proper
ties, subscription books and other books in their
possession, and thereopon the duties of said COM
missioners and the officers previously appointed
by them shall and determine forever, and
thereafter the stockholders shall constitute SAID
body polite and corporate. At the time of the
first and each triennial election OF directors by
the stockholders two additional directors shall
be appointed by the President of the United
States, who shall act with the body of directors,
and to be denominated 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 direc-
tors to be appointed by the President shall not
be stockholders in the Union Pacific Railroad
Company. The directors SO chosen SHALL soon
as may be after their election elect from their
election, elect from their own number president
and vice president, and shall also elect treasu-
rer and secretary. No person shall be director
in said company unless he shall be q bona f1de
company, except the two directors to be appoint
cd by the President as aforesaid. Said company,
at any regular meeting of the stockholders called
for that purpose, shall have power to make by
laws, rules, and regulations as they shall deem
needful and proper, touching the disposition of
the stock, property, estate, and effects of the
company, not inconsistent herewith, the tran
sfer of shares, the term of Office, duties and
duct of their officers and servants and all matters
whatsoever which may appertain to the concerns
of said company; and the said board of directors
shall have power 10 appoint such engineers, a
fIInn lrnp
be necessary to carry into effect the objct of this
act and to do all acts and things touching the 10
cation and construction OF said road and tele-
graph. Said directors may require payment of
subscriptions to the capital stock, after due no.
tice, at such times and in such proportions as
they shall deem necessary to complete the rail
road and telegraph within the time in this act
prescribed. Said president, vicepresident, and
directors shall hold their office for three years,
and until their successors are duly elected and
qualified for such less time as the bylaws of
the corporation may prescribe; and majority of
said directors shall Constitute quorum for the
transaction of business The secretary and trea-.
surer shall give such bonds, with such security,