New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-29
LAWS OF THE UNITED STATES.
Passed at the Third Session of the Forty.
First Congress.

Railroad Company, and to aid in the con
struction of its Road, and for other pun
poses.
, Be it enacted by the Senate and House 0
Representatives of the United States o
America in Congress assembled, That JOhl
O. c. French, John d. Caldwell, j. j. Noah "A
c. Osborne, Timothy Hurley, C. C. Pool
Silas N. Martin, John NJ. Corse, George E
Wentworth, Philip H. Morgan. j. D. Cam
eron, Marshal U. Roberts, James L. Hodges
John Ray, w. Vermilye, Enoch L. Faucher
Charles +. Livermore, Joseph II. Oglesby
John WhytOck, Daniel Drew. +. S. Davis
w. Orion, A. C. Babcock. Thomas A. Scott
Samuel d. Hoffman, H. Ramsdale, William
H. Jackson, r. c. Parsons, Delos W; EN-
mons. NJ. A. SouthwOrth, John H. Hall, G.
c. Kinney, w. p. Clark, James Dart, H
Jacobs. L. T. Smith, w. p. Dole, c. A. Weed
4. P. X. Stafford, H. Mccullough, Charles
jackson, Elisha Dyer, Alfred Anthony,
James Hoy, N. w. BENJAMIN, H. D. Cooke,
Joseph K. West, w. S. Huntington, j. NJ.
Tebbetts, c. &. Leondridge. D. D. Porter,
NJ. Woodruff, Hiram Price. NJ. C. Hunter,
w. T. Walters, j. b. Brownlow. T. A. Nor.
Samuel Craighead, d. n. Stanton, Au-
gustus H. Whiting. G.. L. Johnston. j. w.
GoOdland, Powell Clayton, Samuel Tate,
". Bolton, H. Robinson. George Nancy,
0. H. Bynum, NJ. Burns, j. C. Good
lOe. E. G. Barney, Cyrus Bussey, j. w.
Forney, j. Lockwood. E. NJ. Davis. N. Pat
ton, W. Flanagan, G. O'Brien. G. P. Buel,
G. H. Gliding, J. j. Newell, E. w. Rice, K.
NJ. Shoemaker, Samuel Sloan, 5. w. Morton,
j. B. Bowman. L. NJ. FlOurnOy. j. j. Kinds.
G. r. Weeks, j. 7. Ludeling. b. c. 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.
C. Stanton, Cyrus H. Baldwin. A. j. Hamil-
ton, Rush K. Sloan, Silas C. Colgrove, Sam
uel D. Jones, n. H. Decker. William N.
| Leet. F. E. Allen, j. B. Chaves. Augustus
Kountze. John N. Goodwin. William s.
Rosecrans, Michael Hahn, H. C. Warmoth,
j. S. Williams, G. NJ. Spencer, L. j. Highly.
w. Z. kimball, and all such persons as shall
| or may be associated with them, and their
successors, are hereby created 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,
locate. construct, furnish. maintain,
and enjoy continuous railroad and tele-
"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-secOnd
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 Ari-
zOna to point ON the RIO Colorado at or
near the southeastern boundary Of the
Rf hr fho
direct and eligible route to San Diego Cali
fOrnia, 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 q
board of commissioners twenty Of whom
shall constitute quorum for the tYansac-
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 |
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
siOners, 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 subscribers or stock
holders, or y 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
to the transaction Of business. and who
snail 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
ldent 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, az NAV he
provided in the bylaws; and the annual
meetings of stockholders shall take place as
provided for in said bylaws.
SEC. 5. That the capital stock of the Texas
Pacific Railroad Company shall be fixed by
The board Of directors at sum not exceed.
ng fifty millions of dollars. in shares
IT one hundred dollars; and when the
amount is so fixed, it shall never be in
;reased except by consent OF Congress-. As
easements upon said stock shall only be
made by majority vote Of the whole num-
Der OF directors at regular meeting, which
aid assessments shall be paid at the expira-
ion OF thirty days after notice given in
me newspaper in each of the cities Of Wash
ngton, Philadelphia, New York and New
orleans.
SEC 4. That the said Texas Pacific Rail-
Dad Company shall have power and lawful
uthOrity to purchase the stock, land
rants, franchises and appurtenances of.
nd consolidate on such terms as NAV be |
greed upon between the parties, with any
abroad company or companies heretofore
hartered by congressional, State or terri
orial authority, on the route prescribed in
he first section Of this act; but no such con-
olidation shall be with any competing
trough line of railroads to the Pacific
ocean.
Sec. S. That the said company shall have
over and authority to make running ar
angements with any railroad company or
heretofore chartered, or that may ]
GREATER be chartered by congressional,
tate or territorial authority: also to pur- {
hase lands, or to accept donations, or {
rants of lands, or other property, from I
tate or individuals. for the purpose of aid {
1g in carrying out the object of this com. I
any. I
SEC. 6. That the rights, land, land grants,
ranchlses, privileges and appurtenances g
nd property of every description belong g
1g to each Of the consolidated or purchased | 7
abroad company or companies, as herein | &
rovided, shall vest in and become ahso- {