New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-19

representatives VI Tue CblUeQ states OF
America in Congress assembled, That John
G. Fremont. James L. Alcorn, G. M. Dodge.
O. G. French, John d. Caldwell, j. j. Noah. A.
G. Osborne, Timothy Hurley, C. C. Pool.
Silas N. Martin, John M. Corse. George ~
Wentworth, Philip II. Morgan. J.. D. Cam
eron, Marshal o. Roberts, James l.. Hodges,
John Ray, w. Yermilye, Enoch L. FaucRer,
Charles 4. LivermOre, Joseph HI. Oglesbv.
John Whytock, Daniel Drew, F. S. Davis,
w Orton, A. c. Babcock, Thomas A. Scott,
Samuel ID. Hoffman, III. Ramsdale, William
mons, M. A Southworth, JOHN HI. Hall, G..
c. Kinney, w. p. Clark, James Dart, II.
Jacobs, l.. T. Smith. w. p Dole, CA. Weed,
A. P. X. Stafford, H. Mccullough, Charles
jackson, Elisha Dyer, Alfred Anthony,
James Hoy, M. w. BENJAMIN, III. d. Cooke,
Joseph K. West, w. S. Huntington, j. M.
Tebbetts, G. G. Leondridge, d. ID. Porter,
NJ. Woodruff, Hiram Price, M. C. Hunter,
w. T. Walters, j. B. Brownlow, t. A. Nor
ris, Owen fuller, ]. H. Ledlie, r. NJ Bishop,
Samuel Craighead. ID. n. Stanton, Au-
gustus H. Whiting, G. L. Johnston. j. w.
Goodland, Powell Clayton, Samuel Tate,
". Bolton, HI. Robinson, George Nancy,
o. H. Bynum, M. Burns, j. C.. Good
loe, Z. g. Barney, Cyrus Bussey, j. W.
Forney, j. Lockwood, E. M. Davis, n. Pat
ton, W. Flanagan G. O'Brien, G. p. Buell.
G. III. Gliding, J. j. Newell, E. w. Rice, r.
M. Shoemaker, Samuel Sloan, S. w. Morton,
j. B. Bowman. l.. M. Fiournoy. J.-J. Kinds,
G.. r. Weeks, j. T. Ludeling, B. G. Gilbert,
b. d. Williams, Thomas Olcott. G. A. Fos-
dick, Harry Hays, p. S. Forbes. John I.
Sprague, l.. 4. Marsh, A. W. Beckwith, J.
G. Stanton, Cyrus II. Baldwin, A. j. Hamil-
ton, Rush r. Sloan, Silas G. Colgrove, Sam
uel ID. Jones, N. II. 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. M. 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 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
haveNperpetual 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 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
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-
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
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 parallel of north latitude,
and is hereby vested with all the powers,
privileges and immunities necessary to carry
into effect the pur Ipol SEES of this act.
SEC. 2. That the persons named in the
first section of this act shall constitute
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 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 a 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 diree-
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
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 a shareholder. |
The directors shall hold their offices for any |
term not exceeding three years, as may be |
provided III the bylaws; and the annual |
meetings 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
he board of directors at sum not exceed
ng fifty millions of dollars. in shares
# one hundred dollars; and when the
AMOUNT is so fixed, it shall never be in
,reased except by consent of Congress. AS
upon said stock shall only be
made by majority vote of the whole num-
Yer of directors at a regular meeting. which
aid assessments shall be paid at the expira-
ion of thirty days after notice given in
ne newspaper in each of the cities of Wash
ngton, Philadelphia, New York and New
orleans. 4
SEC. T. That the said Texas Pacific Rail-
DAD Company shah have power and lawful
authority to purchase the stock. land
rants, franchises and appurteDanees of,
nj consolidate on such terms as may be
greed upon between the parties, with any
abroad company or companies heretofore
nartered by. congressional, State or terri
orial authority, on the route prescribed in
ne INST section of this act; but no such con-
ohdatIon shall be with any competing
)eean.
SEC. D. mat the said company shall have
ower and authority to make running ar
angements with any railroad company or
ompanles heretofore chartered or that NAV ,
ereaiter pe chartered by congressional,
's9 vr osrritorial authority: also to pur- I
base lands, or TO accept donations ar ,
rants OF lands, OF other property. from
tate or individuals, for the purpose Of aid.
ng in carrying out the object Of this com.
any. r
SEC. 6. That the rights, land, land grants !
franchises, privileges and appurteDances :
nd property of every description belong. I.
~ 70 each OF the consolidated orpurchased ,
abroad company or companies, as herein |
rovided, shall vest in and become abso. :
ltely the property of the Texas Pacific !
company; provided, that in am :
ontractS made and entered info nv said 7.
ompany with any and all other railroad :
oompany or companies, to perfect such !
ioresald consolidation or purchase. the IN
ebtedness of other Iegal nhIigatinns Of said