The Albany register. [volume] (Albany, Or.) 1868-18??, 1870-08-27

shafl bevrtwo and oae-hA -miiliens~ Of
dollars, divided into shares of one hun
dred dollars each, and the same shall be
deemed to be personal roperty and trans-
fsrable on the books of the company only,
and such capital stock may be increased
from time 10 time to the exert necessary
to carry out the objects for which said
company Is formed, not exceeding in the
whole the sum of ten million dollars. up
on vote of two thirds in amount of the
stock for the time being in favor Of such
increase.
SEc. g.. And be It further enacted, That
the said company shall have power tc
make such by-laws as it deems proper
Tor the disposition of its property and es-
tate, and for the management of its busi-
neas and affairs, for the regulation of tte
term of cfice of its officers and their du-
ties, and to csrry out the general objects
OF the corporation, sn5 thes nj . TO amend
or repeal At pleasure Provided, That
such bylaws shall not coz flsct with any
law OF the Cnited States, or of the Terri
tories of Colorado aud New Megico, or
the States which may be formed therein.
SEC 4. And be ii further enacted, Tha.
the corporators named in this act shall
be the directors for the FIRST year. from
the organ alton of the company, and un-
til others are elected and thereafter an
nual electious of directors, not less than
five or more than nine in number, shall
be be1d by the stock holders, at meetings
10 be called for that purpose, at which
each share of stock present in person or
by proxy shall be entitled to one vote.
and the msj5rity thereof shall elect.
A..L L.
the general objects OF such corporation
are, and are hereby declared to be, as
follows To promote and encourage emf
grafton to and establith settlements on
he lands Of said company in the San
Louis Park, in the Territories of Coiora-
do and New Mexico, and, in connection
therewi'h, TO establish such agencies as
il may deem desirable TO purchase, hold,
lease, sell, and mortgage any real estate
situate in the San Louis Park in said
Terr tories, or either of theI now owned
or contracted for by any of the persons
named in the first section of this act,
With any co-;enant thereof, his or their
beirs or assigns to survey, lay out, aid
improve the same 4; to establish, main
Tain, and operate wagon roads to ard up
on its property to construct and m iin-
tain railroad and telegraph line from
any point on lands of said company in
the San Louis Park, to the nearss 81 and
| most practical BILE point on either the Kan
sas Pacific railroad the Union Pacific
railroad the Denver Branch railroad, or
the Atchisou, Topeka and Santa Fe rail
road, and the said company, for the pur-
| pose of building and operating such rail
| road, shall have the right of way through
| the public lands of the United States
| from and between the points aforesaid
the said right of way being to the extent
of two hundred feet on each side of said
railroad line; and such corporation shall
possess all the franchises necessary to en-
able 1t to build aud operate such railroad
| for the transportation of freight and pas
sepgers, and TO collect and receive com
| pensation therefor and the pow ers, priv =
| ileges, and franchises conferred on cor
porations by and under the provisions OF
! chapter eighteen of the revised statues of
| Colorado, or of any and all amendments
! thereto, are hereby confirmed to and in.
vested in said corporation, subject to said
statutes for the purpose of this act Pro.
vided, That this act shall not be con-
| strued to permit said company to acquire
title to any other lands or reei estate
thar such as is above mentioned.
SEC. 6. And be 1t further enacted, Tina,
such corporation may make and dispose
of its bonds or other obligations in such
terms as it may deem most for it's interest,
for the purpose of proving money for
the purposes aforesaid, and may secure
the same by a mortgage upon all any
part of its property and all its fran chises,
and may make the same and the interest
thereon payable at such place or places
as it may deem proper, and may hold and
! transfer such real estate aforesaid and
personal property as may be necessary for
the carrying out of its general purposes
| and may issue its stock and bonds fol
+ property and again exchange its property
for it's bonds or stock, aud may convert
| any of its obligations, at the option Of ths
| holders, into stock of the company with.
out further action of the stock hol ders.
SEC. :. And be it further enacted, Tha
this act shall take effect imm ediateIy, and
shall at all times be subject to amend.
ment or repeal by Congress, and said cor
porntou shall be subject to the genera
laws of said Territories, and the Slater
formes stein, operating upon all cor
pora,7 Equally.
j Approved, July 8, 1870.