Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1871-06-23
ATEs OF ADVERTISING In DAILY.

Passed ut the Third Session of the Forty. first
Congress.
PUBLISHED BYAUTH0RITY.l
GENERAL NATURE-No. 5A1
AN ACT to incorporate the Texas Pacific Rail-
road Company, and to aid in the construction
of its road, and for other purposes.
BE it enacted by the Senate and House of
Representatives. of the United States of america
IN Congress assembled, That John G FIRE.
mont James L Aleorn, G M Dodge &C
Osborne, Timothy Hurley, G G Pool, Silas n
Martin, John NJ Corse, George E Wentworth.
Philip III Morgan, j d Cameron, Marshal o
Roberts, James L Hodges, John Ray, w Yer
milye, Enoch L Faucher, Charles f Liver
more Joseph H 0glesby, John Whytosk, Dan
Thomas 4 Scott, Samuel ID Hoffman, II Rams
dale, William e Jackson, r Q Parsons, Delos
w Emmons nj A Southworth, John III Hall,
G q Kinney, w p Clark, James Dart 81
Jacobs, L Smith, w p Dole, G A Weed, A
Elisha Dyer, Alfred Anthony, James Hoy. NJ
w Benjamin, H D Cooke. Joseph r West. w
Huntington, M Tebbetts, &C Leondridge,
ID Porter, M Woodruff, Hiram Price, M
Hunter, w 7 Walters, j Brownlow, 7 A
Morris, Owen fuller, J H Ledlie, r M Bishop,
Whiting, G L Johnston, J w Goodland, Pow
ell Clayton, Samuel Tate, w Bolton, II Robin.
son, George Nancy, o H Bynum, M Burns, j
G Goodloe, Z G Barney, Cyrus Busey, We
Forney, j Lockwood, E M Davis, n Patton,
ding, j j Newell, E w Rice, R NJ Shoemaker,
Samuel Sloan, S w Morton, j B Bowman, L
NJ Flournoy, j Kinds, G r Weeks, j T Lud-
ling, B Gilbert B d Williams, Thomas Olcott,
g Fosdick, Harry Hays ? Forbes, John
Stanton, Cyrus FL Baldwin, A Hamilton,
Rush r Sloan, Silas G Colgrove Samuel D
Jones, n H Decker, William n Leet, B F
Allen, j Chaves, Augustus Kountze, John N
Goodwin, William 8 Rosecrans, Michael Hahn,
L Highly, w G Kimbal and all such persons
as shall or may be associated with them, and
their successors, are hereby created body
polite and corporate in fact and in law, by the
name, style, ard title of the Texas Pacific Rail-
road Company, and by that name shall have
and be sued, plead and be implicated, defend
and be defended, in all courts of law and equity
within the United States, and may make and
use a common seal and the said corporation is
hereby authorized and empowered to lay out,
locate, construct, furnish, maintain, and enjoy
continuous railroad and telegraph line, with the
appurtenances from point at or near Marshall,
county of Harrison, State of Texas thence by
the most direct and eligible route, to be deter
mined by said company, near the thirty-second
Ell Paso; thence by the most direct and eligi-
BILE route, to be selected by said company,
through New Mexico and Arizona, to point
on the Rio Colorado, at or near the southeastern
boundary of the State of California thence by
the most direct and eligible route to San Diego,
California to ships channel, in the bay of San
Diego, in the State of California, pursuing in
the location thereof, as near as may be, the
thirty-second parallel of north latitude, and is
hereby vested with all the powers, privileges,
and immunities necessary to carry into effect
the purposes of this act. ffi f-.t
SEC 2. That the persons named in the first
section of this act shall constitute board of
commissioners twenty of whom shall constitute
aquorum for the transaction of business, to be
known as the Texas Pacific Railroad commits
sioners, who shall meet in the city of Newt York
within ninety days after the passage of this act
at time to be designated in notice to be sign
ed by the person first named in the list of cor
porators and six of his associates, and to be pub
lished for two weeks in, at least one daily news
paper in New York, New Orleans, and WASH
ington.; and, when so met, they may cause
books to be opened for the subscription. of the
capital stock of said company, and when twenty
thousand shares, amounting to two millions of
dollars, shall have been subscribed, and ten per
centum actually paid thereon, in money, to the
treasurer to be elected by said commissioners,
who shall give bond for its safe keeping and
payment to the treasurer of the company when
organized, then it shall be lawful for such sub
scribers or stockholders, or majority thereof
to organize said company in accordance with
the provisions of this act, and to elect not less
than seven, nor more than seventeen directors,
majority of whom shall be. necessary to the
transaction of business, and who shall hold
their Offices for one year and until their success
sors shall be elected and qualified and the said
directors shall Immediately proceed to elect a
president, vice-president, secretary, and treas
urer the president and vice-president shall be
directors. At all elections for directors, each
share of stock shall be entitled to one vote,
which may be given by the holders in person,
or by proxy, who shall also be shareholder.
The directors shall hold their offices for any
term not exceeding three years, as may be pro-
vided in the bylaws; and the annual meetings
of stockholders shall take place as provided for
in said bylaws. i7H9i
SEC. 8. That the capital stock of the Texas
Pacific Railroad Company shall be fixed by the
board of directors, at sum not exceeding nifty
millions of dollars, in shares Of one hundred
dollars and when the amount is so fixed, 1t
shall never be increased except by consent OF
Congress. Assessments upon said stock snail
only be made by a majority vote OF the whole
said assessments shall be paid at the expiration
of thirty days after notice given in one news
paper in each of tho cities of Washington, Phila-
defphia, New Y ork, and New Orleans, 80. !
SEC. 4 That the said Texas Pacific Railroad
Company shall have power and lawful authori-
ty to purchase the stock, land grants, franchise,
and ~ IL apn,,rtenances of and consolidate on such
terms as may be agreed upon between the par
ties. with any railroad company or companies
heretofore chartered by congressional, State, or
territorial authority, on the route prescribed in
the first section of this act; bat no such consol-
;dation shall be with any competing through
line of railroads to the Pacific Ocean.
Sec 6. That the said company shall have
power and authority to make running arrange
fnents with any railroad company or companies
harofoforp chartered or that NAV hereafter be 4
authority; also to purchase lands, or to accept
donations or grant of lands, or other property,
from States or individuals, for the purpose of
aiding in carrying out the object of this com
pany..
franchises, privileges, and appurtenances, and
property of every description, belonging 70
eacf of the consolidated or purchased railroad
company or companies as herein provided.