New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-24
LAWS OF THE UNITED STATES.
Passed at the Third Session Of the Ferry.
First Consress.

First Congress.
AN ACT to incorporate the Texas Pacifi
railroad Company, and to aid in the con
structiOn Of its Road, and for other pur
poses.
Be it enacted by the Senate and House o
Representatives Of the United States o
America in Congress assembled, That Johl
{. Fremont, James L. Acorn, G. N: Dodge
. O.C French, John D. Caldwell, J. J. Noah "A
G. Osborne. Timothy Hurley, c. c. Pool
Silas N. Martin, John NJ. Corse. George E
Wentworth, Philip H. Morgan, j. D. Cam
eron, Marshal O. Roberts. James L. Hodges
John Ray, W. Vermilye, Enoch L. Faucher
Charlie IF. Lvermore Joseph H. Oglesby
W. Orion, A. G. Babcock. Thomas A. Scott
Samuel d. Hoffman, H. Ramsdale, William
II. jackson, r. c. Parsons, Delos w. EN-
mons, NJ. A. SOuthworth, join H. Hall, G.
G. Kinney, w. p. Clark, James Dart, H
Jacobs L: 7: Smith, w. p. Dole, C. A. Weed,
a. p X. Stafford, H. Mccullough, Charles
jackson, Elisha Dyer, Alfred Anthony,
Joseph K. West, W. S. Huntington, J. NJ.
Iebbetts, c. G. Leondridge, u. d. Porter.
". Woodruff, Hiram Price, M. c. Hunter,
w. T. Walters, j. Il. Brownlow. T. A. Nor
ris. Owen Tuller. J. II. Ledlie, X. NJ. Bishop,
Samuel Craighead. d. n. Stanton. Au-
gustus H. Whiting. G. L. Johnston. J. w.
Goodand, Powell Clayton, Samuel Tate,
~ Bolton, II. Robinson, George Nancy,
.. II. Bynum, NJ. Burns. J. c. Good
Zoe. E. G. Barney, Cyrus Bussey, j. w.
FOrney, J. Lockwood, f. NJ. Davis. N. Pat
ton. w. Flanagan, G. O'Brien. G.. p. Buel,
q. II. Gliding, J. j. Newell, E. w. Rice. X.
NJ. Shoemaker, Samuel Sloan, S. w. Morton,
J. B. Bowman. L. NJ. Flournoy. j. j. Kinds.
6. K. Weeks, j. T. Ludeling, b. G. Gilbert,
B. d. Williams, Thomas OlcOtt. G. A. Eos
dick, Harry HAYS, p. S. Forbes. John T.
Sprague, L. X. Marsh, A. w. Beckwith. J.
&. Stanton, Cyrus H. Baldwin, A. j. Haml-
ton, Rush K. Sloan, Silas G. COlgrove, Sam
uel D. Jones, N. H. Decker, William N.
Leet, F. E. Allen, j. b. Chaves, Augustus
Rosecrans, Michael Hahn, H. c. Warmoth,
j. s. Williams, G.. N. Spencer, L. j. Highly,
w. G. 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 of
law and equity within the United States,
and may make and use a common seal; and
the said corporation is hereby author
lied and empowered to lay out,
n.
and enjoy continuous railroad and tele-
graph line. with the appurtenances from a
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-secon6
parallel of north latitude, to point at or
near Ell Paso; thence by the most direct
and eligible route, to be selected BY said
company. through New Mexico and A,i-
IONA, 10 a 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 |
tornia, 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 pur [po} ses 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 t1ansac-
ton OF business), to be known as the 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 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
|
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
who shall give bond for its safe
keeping and payment to the treasurer of
the company when organized. then it shall
tie lawful 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. majority Of whom shall be necessary
10 the transaction Of business, and who ,
shall hold their offices for one year and :
until their successors shall be elected aud
qualified; and the said directors shall imme- :
ilatelv proceed to elect a president, vice :
president, secretary and treasurer; the pres ,
dent and vice president shall he directors. :
At all elections for directors each share Of ,
stock shall be entitled to one vote, which !
nay be given by the holders in person, or by
,roxy, who shall also he a shareholder.
The directors shall hold their offices for any
ern not exceeding three years, as may be c
provided in the bylaws; and the annual Q
meetings. of stockholders shall take place as q
provided for in said bylaws. 1
SEC d. i Hat tuc capital SCOck Oh the leXaS
'acific Railroad Company shall be fixed by .
he board Of directors at a sum not exceed |
ny fifty millions of dollars. in shares Y
f one hundred dollars: and when the !
mount is so fixed, it shall never be in :
reased except by consent of Congress. AS 7
upon said stock shall only be Z
made by a majOrity vote OF the whole num- y
er of directors at a regular meeting. which 1
aid assessments shall be paid at the expira- !.
ION OF thirty days after a notice given in !,
ne newspaper in each of the cities of Wash u
ACTON. Philadelphia, New York and New y
orleans. U
SEC. 1. That the said Texas Pacific Rail Y
Dad Company shall have power and lawful e.
uthority to purchase the stock, land u
rants, franchises and appurtenances Of a.
nd consolidate on such terms as NAV be d.
greed upon between the parties, with any II
abroad company or companies heretofore VI
hartered by congressional, State or terri 10
Drial authority, on the route prescribed in | I'll
he first section Of this act; but no such con- Ell
Didation shall be with any connecting al
trough line Of railroads to the Pacific Al
cean. u
Sec. 5. That the said company shall have su
over and authority to make running ar. sa
angements with any railroad company or
,mpanies heretofore chartered, or that NAV pa
GREATER be chartered bv congressional. m
tate or territorial authority: also to pur- of
lase lands, or to accept donations, or ca
rants of lands, or other property, from tn
tate or individuals, for the purpose of aid ar
z in carrying out the object Of this CON- 70
any. tn
SEC. 6. That the rights, land, land grants, be
anchises, privileges and appurtenances of