New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-13
LAWS OF THE UNITFn STATrs
E"ssed at tho Third Sessfou .f n. p.-
First Csnsress.

Railroad Company, and to aid in +ho " M.
poses. " AoA o'nof pu
oe II enacted by the Senate and House
representatives of the United States :
66Isrica IN Congress assembled, That job
= reinont, James L. Alcorn, G. M. Dodof
CC'CE.ffrench, John D. Caldwell, j. ]. Noah. a
S;,a oS ~ Me- timothy Hurley, C. C. Pool
wentworth. Philip H. Morgan. J. D. Gam
er1n. Marshal .. Roberts, James L. Hold res
S yTa, nay W. Vermilye, Enoch L. Fauc6er
GlatieS +. Alvermore, Joseph H. Oylesby
John Whytock, Daniel Drew. +. s. Davis
W. orion a: z. Babcock. Thomas A. Scott
na4uei ~. Hoffman, H. Ramsdale, William
la n, JACKSON X. C. Parsons, Delos w. En-
1ioIs: NJ. A. Southworth, JOHN H. Hall, G
Jacobs: L: T: Smith, w. P. Dole, c. A. Weed
A. r h. Stafford, II. Mccullough, Charlie:
Jackson, Elisha Dyer, Alfred Anthony
James Hoy. NJ. w. Benjamin, H. d. Cooke
gToseph r. West, w. S. Huntington. J.. NJ
.rep9etts. T.: e: Lcondridge, d. D. Porter
M: Moodhull, Hiram Price, NJ C. Hunter
w. =. Waters, j. B; Brownlow, 7. A. Nor
Samuel Craighead, d. n Stanton, An,
gustus II: Whiting, G. L. Johnston. j. w.
Scotland. Powell Clayton, Samuel Tate,
". Bolton, II. Robinson. George Nancy,
y. II: Bynum, NJ. Burns, J. c. Good
Zoe. 4. Z. Barney, Cyrus Bussey. j. w.
forney, J. Lockwood, f. NJ. Davis. n. Pat
Ton, w. Flanagan, G. O'Brien, G. p. Buel,
y. II. Gliding, j. j. Newell, E. w. Rice, T.
M. Shoemaker, Samuel Sloan, s. w. Morton.
y. b. Bowman, L. NJ. FlOurnoy. j. }. Kinds,
G. Il. Weeks. j. T. Ludeling, b. c. Gilbert.
b. d. Williams Thomas OlcOtt. G. A. Fos
dick, Harry Hays, z. S. Forbes. John T.
Sprague, l.. r. Marsh, A: w. Beckwith. j..
G. Stanton, Cyrus H. Baldwin, A. J. Hamil-
ton, Rush H. Sloan. Silas c; Colgroye, Sam
Leet. f. E. Allen, j. b. Chaves. Augustus
Kountze. John N. Goodwin, William 5.
Rosecrans. Michael Hahn, H. C. Warmoth.
j. S. Williams, G. NJ. Spencer, L. j. Highly.
w. c. Kimball, and all such persons as shall
or may be associated with them, and their
successors, are hereby created a body poll
tic and corporate in fact and in law, by the
name style, and title Of the Texas Pacific
Railroad Company, and by that name shall
have perpetual succession, and shall be able
to sue and be sued, plead and be implicated.
defend and be defended, in all courts III
law and equity within the United States,
and may make and use common seal; and
the said corporation is hereby author
lied and empowered to lay out.
locate, construct, furnish, maintain,
and enjoy continuous railroad and teIe-
graph line, with the appurtenances from
point at or near Marshall, county of Har-
rison, State of Texas; thence BY the most
direct and eligible route. to be determined
by said company, near the thirty second
parallel of north latitude, to a point at or
near FL Paso; thence by the most direct
and eligible route, to be selected by said
company, through New Mexico and Ari-
IONA. 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 Cali
forni;l to ships channel, in the bay of San
Diego, in the State Of California, pursuing
in the location thereof, as near as NAV 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 pur [pol SEES Of this act.
SEC. =. That the persons named in the
first section OF this act shall constitute a
board OF commissioners twenty of whom
shall constitute quorum for the tIansac-
ton OF bilsiness), to be known a1Fhe Texas
Pacific Railroad Commissioners, who shall
meet IN the city of New York within ninety
days after the passage Of this act, at &. time
to be designated in a notice to be signed
by the person first named in the list of
corporators and six of his associates. and to
be published for two weeks IN, at least. one
daily paper in New York, New Orleans and
Washington and, when SO met, they may
cause books to be opened for the subscrip-
ton Of the capital stock Of said company.
and when twenty thousand shares amount
ing 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 commits
siorers who shall give bond for its safe
keeping and payment to the treasurer Of
the company when organized, then it shall
be la wtul for such subscribers or stock
holders. or majority thereof, to organize
SAID company in accordance with the pro-
visions of this act, and to elect not less |
than seven. nor more, than seventeen direc- !
tors. a majority of whom shall be necessary
to the transaction Of business, and who !
shall hold their Offices for one year and !
until their successors shall be elected and |
qualified and the said directors shall imme- !
diately proceed to elect president, vice |
president, secretary and treasurer; the pres |
.dent 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 a shareholder. |
The directors shall hold their Offices for any |
term not exceeding three years, as may be !
provided in the bylaws: and the annual |
of stockholders shall take place as |
provided for in said bylaws.
SEC. 3. That the capital stock Of the Texas |
Pacific Railroad Company shall be fixed by
the board Of directors at sum not exceed
ing fifty millions OF dollars. in shares !
Of one hundred dollars; and when the |
amount is so fixed, it shall never he in
creased except by consent Of Congress. AS
,essments upon said stock shall only be
nade by majority vote of the whole num-
ber of directors at q regular meeting, which |
aid assessments shall be paid at the expira-
ton of thirty days after notice given in
!, g rewsnanar in oach Of the cities of Wash
in gton. Philadelphia, New York and New
Orleans.
SEC l. That the said Texas Pacific Rail
road Company shall have power and lawful
authority to purchase the stock, land
grants. franchises and appurtenances of,
and consolidate on such terms as may be
agreed upon between the parties, with any
railroad company or companies heretofore
chartered by congressional, State or terri
lorial authority, on the route prescribed in
the first section of this act; but no such con-
soIidation shall be with any competing
through line Of railroads to the Pacific
Ocean.
SEC. 5. That the said company shall have
power and authority to make running ar
ran gements with any railroad company or
com panies heretofore chartered, or that may
hereafter be chartered by congressional,
State or territorial authority; also to pur-
chase lands, or to accept donations, or
grants of lands, or other property, from
State or individuals, for the purpose Of aid
ing in carrying out the object Of this COM
pany.
franchises. privileges and appurtenances
aud property Of every description belong
NO to each Of the consolidated or purchased
railroad company or companies, as herein
provided. shall vest in and become abso-
10 De-