New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-26

le6betts, Z: Z: LeOndridge, D. D. Porter
M: Woodruff, Hiram Price, NJ. C. Hunter
w. I. Walters. j. B. Brownlow. T. A. Mo,
ris. Owen fuller, J. H. Ledlie, R. NJ. Bishop
gustus H. Whiting, G.. L. Johnston. j. w
GOOdland, Powell Clayton. Samuel Tate
W. 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, R
NJ. Shoemaker Samuel Sloan, s. w. Morton
J; 3: Bowman: L: NJ. Flournoy j. j. Kinds
g. r. Weeks, j. Z. Ludeling, B. C. Gilbert
b. ID. Williams, Thomas OlcOtt. G. A. Eos
dick. Harry Hays, p S. Forbes. John T
Sprague, L. r. Marsh, A. w. Beckwith, j
C. Stanton, Cyrus H. Baldwin, A. j. Hamil
ton, Rush K. Sloan, Silas c. Colgroye, Sam
uel d. Jones, N. H. Decker William n
Leet, F. E. Allen, J. B. Chaves Augustus
kountze, John n. Goodwin, William 8
Rosecrans. Michael Hahn, H. C. Warmoth
J. 5. Williams, G. N. Spencer. L. j. Highly
w. C. Kimball, and all such persons az shaij
| 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 Law out,
locate, construct, furnish, maintain.
and enjoy continuous railroad aud tele-
graph line, with the appurtenances from a
point at or near Marshall, county of Rar-
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-
IONA, to point on the Rio Colorado, at o.
near the southeastern boundary of the
state OF California; thence by the most
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.
and is hereby vested with all the powers,
privileges and immunities necessary to carry
into effect the pur [pOl ses of this act.
SEC. =. That the persons named in the
nrst section OF this act shall constitute a
board OF commissioners twenty Of whom
shall constitute quorum for the transac-
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<wO weeks in. at least one
daily paper in New York, New Orleans and !
and, when 80 met, thew NAV
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.
,iOners, who shall give bond for it's safe
keeping and payment to the treasurer Of |
The company when organized, then it shall
De lawful for such subscribers or stock.
holders, or majority thereof, to organize
aid company in accordance with the pro-
,,lslons OF this act. and to elect not less
han seven. nor more than seventeen direc. |
Ors. a majority of whom shall be necessary
o the transaction of business, and who
hall hold their offices for one year and
Until their successors shall be elected and
qualified; and the said directors shall imme-
lately proceed to elect president, vice
resident, secretary and treasurer; the pres
dent and vice president shall be directors.
1t all elections for directors each share of
/ !
lay be given by the holders in person, or by
roxy, who shall also be shareholder.
he directors shall hold their offices for any
erm not exceeding three years, as NAV be
rOvlded in the bylaws: and the annual
leetlngs of stockholders shall take place as | !:
rovided for in said bylaws
SEC, 3. That the capital stock Of the Texas
aclhc Railroad Company shall he fixed by y
he board OF directors at sum not exceed
NJ la1la 1
one hundred dollars; and when the
mount is SO fixed, it shall never be in.
'eased except by consent of Congress. AS I
upon said stock shall ONLY be
AIDE by majority vote of the whole nunn- Q
n OF directors at a regular meeting. which l
I'D assessments shall be paid at the expira.
On OF thirty days after a notice given in ! e
le Newspaper in each Of the cities Of Wash q
gtOn, Philadelphia, New York and New Q
rleans. I.
SEC. 4. That the said Texas Pacific Rail. c
ad Company shall have power and lawful q
thority to purchase the stock, land d
ants, franchises and appurtenances of. a.
ID consolidate on such terms as may be al
reed upon between the parties, with anv RI
llr0ad company or companies heretofore OF
artered by congressional State or terri tt
rial authority, ON the route prescribed in II
9 first section Of this act; but no such CON 81
hdat!on shall be with any competing AZ
rough line Of railroads to the Pacific a.
,ean. U
SEC. D. That the said company shall have 81
wer and authority to make running ar ID
agements with any railroad company or
heretofore chartered, or that NAV ps
reafter be chartered BY congressional, m
ate or territorial authority; also to pur- of
ase lands, or to accept donations, or o.
anus OF iands, or other property, from th
ate or INDIVIDUALS, tor the purpose of aid al
IN carrying out the object Of this com 70
nv. til
SEC o. That the rights, land, land grants. he
lnchlses, privileges and appurtenances of
d property of every description belong. an
TO each of the consolidated or purchased pa
iroad company or companies, as herein su
divided, shall vest in and become abso- th
ely the property of the Texas Pacific fol
utracts made and entered into sai bv az. az
Dpany with any aud all other railroad de
npany or companies, to perfect such XII,
'resald consolidation or purchase. the in.
btedness of other legal OBLIGATIONS of said stc
npany OF companies shall be assumed by an
sala texas Pacific Railroad Company as tn.
y DC agreed upon, and no such consOlida- fro
;o, " purchase shall impair any lien tor
lsolidated or purchased: but saiS conn. thu
~ shall not assume the debts or ohlioa. co,
rs OF any company with which it NAV an,
lsolldate or purchase as aforesaid, to an sai
cunt greater than the cash value of the fra
cts received from the same. 'Ao ~
&c. z. That the said Texas Pacific Railroad tho
npany shall have power to make and der
OI ~ ruloe aau bylaws LOT the election of rat
Dmcers anu tne government and manage gol
IL VI ING Dusl40Ss VI inc company, and to rec
.nd perform az neediul and proper things 6ol
he done ana performed to promote THU
objects OF the company hereby iAc0r- rail
ated, not inconsistent with the laws of ian