New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-03
LAWS OF THE UNIFIED STATES.
Passed at the Third Session of the Forty
First Congress.

AN ACT TO incorporate the Texas Pacific
Railroad Company aud to aid IN the con-
struction of its Road, and for other pur-
poses.
Belt enacted by the Senate and House of
Representatives of the United states OF
c.. Fremont, James L. Alcorn, GIN. Dodge,
&C. French, John ID. Caldwell, ID. Noah,A A.
C.. Osborne, Timothy Hurley, G.. C. Pool,
Silas n. Martin, john NJ. COrse, George Z.
Wentworth, Philip ii. Morgan, j. d. Cam
eron, Marshal q. Roberts, James L.. Hodges,
John Ray, w. yermilye, Enoch L.. Faucher,
Charles +. Livermore, Joseph HI. Oglesby,
w. Orion, A. C. Babcock, Thomas A. Scott,
Samuel d. Hoffman, H. Ramsdale, William
H. Jackson, K. G. Parsons, Delos w. En-
mons, M. A. S0uthwortb, John H. Hall, G.,
C. Kinney, w. P. Clark, James Dart, Fl.
Jacobs, L.. I. Smith, w. p. Dole, c. A. Weed,
A.P. X. Stafford, II. Mccullough, Charles
Jackson. Elisha Dyer, Alfred Anthony,
Joseph X. West, W. S. Huntington, J. NJ.
Tebbetts, &C. ~Leondridge, d. d. Porter,
M Woodhull, Hiram Price, NJ. C. Hunter,
W. 7. Walters, j. b. Brownlow, T. A. Nor
ris. Owen fuller, j.. III. Ledlie, r. M. Bishop,
Samuel Craighead, ID. N. Stanton. Au-
gustus H. Whiting, G.. l.. Johnston, j. w.
Goodland. Powell Clayton, Samuel Tate,
w. DVISOHf II. hODluSOU. OtbIgG R1dUbN,
o.. III. Bynum, NJ. Burns, j. G.. Good
loe, Z. g. Barney, Cyrus Russey, j. w.
FOrney, j. Lockwood, E. NJ. Davis. N. Pat
ton, w. Flanagan, G.. O'Brien, G.. P. Buel,
G. III. Gliding, j. j. Newell, L. w. Rice, r.
M. Shoemaker, Samuel Sloan, s. w. Morton,
j. b. Bowman, l.. M. F%lournoy, j. j. Kinds,
G. r. Weeks, j. L. Ludeling, 3. G.. Gilbert,
b. ID. Williams, Thomas Olcott. G. A. Fos-
dick, Harry Hays, p. S. Forbes. John t.
Sprague, l.. X. Marsh A. w. Beckwith, j.
C. Stanton, Cyrus I'll. Baldwin, A. j. Hamil-
ton, Rush X. Sloan, Silas c. Colgrove, Sam
ueI d. Jones, N. III. Decker, William N.
Leet, +. 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. C. Kimball, and all such persons as shall
or may be associated with them, and their
successors, are hereby created q 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 a continuous railroad and tele-
graph line, with the ap~purtenances from a
point at or near Marshall. county of Har-
rison, State of Texas; thence by the most
direct and eligible route, 20 be determined
by said company, near the thirty-secOnG
parallel of north latitude, to a point at or
near Ell Paso; thence by the most direct
and eligible route, to be selected by said
company, through New Mexico and APi-
IONA, to a point on the Rio Colorado, at or
near the southeastern boundary of the
Stafa rf Caiifn11ta. flanna hu fha 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,
eae 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. 2. That the persons named IN the
first section of this act shall constitute a
board of commissioners twenty of whom
shall constitute a quorum for the tTansac-
ton of business), to be known as the TeXa
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
c0rporators 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 SC 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 centun
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 1t shall
be la wful for such subscribers or stock
holders, or a majority thereof, to organize
said ompany in accordance with the pro
visions Of this act, and to elect not less
than seven. nor more than seventeen direc'
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 a president, vice
president, secretary and treasurer; the pres
ideut and vicespresident shall be directors
At all elections for directors each share o.
stock shall be entitled to one vote, which
may be given by the holders in person, or by
proxy. who shall also be aashareholder
The directors shall hold their offices for an
term not exceeding three years, as may be
provided In the bylaws; and the annua
meetings of stockholders shall take place a:
provided for in said by-ows.
SEC. 3. That the capital stock OF the Texas
Pacific Railroad Company shall be fixed by
the board of directors at a sum not exceed
ing fifty millions OF dollars. in shares
of one hundred dollars; and when the
amount is so fixed, il shall never be in
creased except by consent of Congress. AS
sessments upon said stock shall only oe
made by a majority vote OF the whole mum
Der of directors at a regular meeting, WhlcI
said assessments shall be paid at the expira
ton of thirty days after a notice given IL
one newspaper in each of the cities OF Wash
ington, Philadelphia, New York and New
Orleans.
SEC. A. That the said Texas Pacific Rail
road Company shall have power and Lawful
authority to purchase the stock, Lane
grants, franchises and ap~purtenances OF
and consolidate on such terms as may bt
agreed upon between the parties, with any
railroad company or companies heretotofort
chartered by congressional, State or terri
toriaI authority, on the route prescribed IL
the first section of this act; but no such con
~solidation shall be with any competing
through line of railroads to the Pacific
Ocean.
SEC. 5. That the said company shall havt
mower and authority to make running ar
ran gements with In railroad company Of
companies heretofore chartered, or that ma,
hereafter be chartered by congressional
State or territorial authority; also to pur
chase lands, or to accept donations, o
grants of lands, or other property, from
State or individuals, for the purpose of aid
ing in carrying out the object OF this CON
pany. ,..a 1ona lava ,o,+
franchises, privileges and appurtenance
and nronerty of every description belong
inc to each Of the consolidated or purchased
railroad company or companies, as herei
.ro-;dod ebaiI vest in and become absC