New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-24

Passed at the THIRD Session Of the Ferry
First Congress.

/ AN ACT to incorporate the Texas Pacif
Railroad Company, and to aid in the cor
struction of its Road, and for other pun
i Be it enacted BY the Senate and House Q
Representatives Of the United States 8
j America in Congress assembled, That Johl
| G. Fremont. James L. Alcorn. G. M. Dodge
10. G. French, j ohm d. Caldwell, j. j. Noah. "A
| G. Osborne. Timothy Hurley. c. G. Pool
| Silas N. Martin, John NJ CoTse, George Z
| Wentworth, Philip H. Morgan, j. d. Cam
eron, Marshal O Roberts, James T. Hodges
John Ray. W. Fermilye, Enoch t. Fancher
Charles E. Lirermore, Joseph H Oglesby
| John Whytock, Daniel Drew. f. S. Davis
W. Orion. A. c. Babcock, Thomas A. Scott
Samuel d. Hoffman. h Ramsdale, William
II. jackson, r. G. Parsons. Delos W. En-
mons, M. A. Southworth, JOHN III. Hall, G
| G. Kinney, w. p. Clark. James Dart, II
| Jacobs, l.. L. Smith, w p Dole, G. A. Weed
A. z. K Stafford, ii. Mccullough, Charles
jackson, Elisha Dyer, Alfred Anthony
James Hoy. NJ. w. Benjamin, H. d. Cooke
| Joseph K. West, w. s. Huntington, j. NJ
Tebbetts, &C. Leondridge, d. d. Porter
NJ Woodruff, Hiram Price. M. c. Hunter
| w. L. Walters, j. b. Brownlow; I. "A Nor
ris, Owen fuller, j. H. Ledlie, r. NJ Bishop
Samuel Craighead, d. N. Stanton. An
gustus H. Whiting. G L. Johnston. j. W
Goodland, Powell Clayton, Samuel Tate
| W. Bolton. H. Robinson. George. Nancy
| o. II. Bynum, M. Burns, j. C. Good
! loe, E. G.. Barney, Cyrus Bussey. j. w
Forney, j. Lockwood, f. NJ. Davis, N. Pat
ton, w. Flanagan, G. O'Brien. G. p. Buel,
| G. H. Gliding, j. J. Newell, E. W. Rice, Il.
M. Shoemaker, Samuel Sloan,-S. w Morton,
j. B. Bowman. l.. M. Flournoy j. j. Kinds.
G. r. Weeks, j. T. Ludeling, b. G. Gilbert,
b. d. Williams, Thomas Olcott. G.. A. Eos
dick, Harry Hays, p 5. Forbes. John Il.
Sprague, l.. K. Marsh, A. w. Beckwith, j.
c. Stanton, Cyrus III. Baldwin. A. j. Hamil-
ton, Rush Il. Sloan, Silas c. Colgrove, Sam
uel ID. Jones, N. II. Decker, William n.
Leet, FEE. Allen, j. b. Chaves. Augustus
Kountze, John n, Goodwin, William S.
ROsecrans, Michael Hahn, II. c. Warmoth.
j. 5. Williams, 81. 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, hy 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-
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 Ari-
iona, to 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 20 San Diego, Cali
fornis, 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 lpol ses of this act.
SEC, 2. 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 tTansac-
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 a 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 subserir-
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 |
xrb hall rr;x
keeping and payment to the treasurer of |
the company when organized, then it shall /
De lawful for such subscribers or stock |
holders, or a majority thereof, to organize |
'aid company in accordance with the pro-
visions of this act, and to elect not less
han seven, nor more than seventeen direc-
ors, majority of whom shalt be necessary
o the transaction of business. and who
hall hold their offices for one year and |
lntih their successors shall be elected and
lualfied; and the said directors shall irnme-
lately proceed TO elect president, vice
president, secretary and treasurer; the pres
dent and vice president shall be directors
1t all elections for directors each share of
took, shall be entitled to one vote, which
nay be given by the holders in person, or bv
roxy, who shall also be shareholder.
he directors shall hold then offices for any
ERIN not exceeding three years, as may be
rovided in the bylaws; and the annual
MEETINGS OF stockholders shall take place as
rovided for in said bylaws
SEC. 8. That the capital stock of the Texas
aciic Railroad Company shall be fixed by
le board of directors at a sum not exceed
IL fifty millions of dollars. in shares
one hundred dollars: and when the 1
mount is so fixed, it shall never be in
reased except by consent of Congress. AS
upon said stock shall only be
ade by majority vote of the whole num-
er of directors at a regular meeting, which
I'D assessments shall be paid at the expira-
on of thirty days after notice given in I
ne newspaperin each of the cities of Wash I
gton, Phiiadelphia, New York and New
rleans. |
SEC. 4. That the said Texas Pacific Rail I
lad Company shall have power and lawful {
1thority to purchase the stock, land !
'ants, franchises and appurtenances OF, {
1d consolidate on such terms as may be {
greed upon between the parties, with any I
abroad company or companies heretofore {
iartered by congressional. State or terri [
'riai authority, on the route prescribed in t
e first section of this act; but 10 such con- c
'lldatlon shall be with any competing 9
trough line OF railroads to- the Pacific | q
ceaE. /
SEC. 5. That the said company shall have s
over and authority to make running ar S
witn any railroad company or
'mpanies heretofore chartered, or that NAV +
sreafter be chartered BY congressional I
tate or territorial authority; also to pur- q
lase lands, or TO accept donations. or @
'ants OF lands, or other property, from t
ate or individuals, for the purpose of aid a
g IN carrying out the object of this COM r
any. - | :
SEC. .. That the rights, land, land grants. i b
ancmses, privileges and appurtenances o
az property of every description belong S
e TO each OF the consolidated or purchased D
iliroad company or companies, as herein S
'oylded, shall vest in and become abso- Il