New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-31
LAWS OF TIE UNi1E1AsTAT Es.
Pissed nfthe xhha session 81 tine Furtys
First Congress.

First Congress.
szuzzsssazssz1a
An ACT to incorporate the Texas Pacific
Railroad Company, and to aid in the con
,struction of its Road, and for other pur
poses.
Be it enacted by the Senate and House o
Representatives of the United States O
America in Congress assembled, That Johr
o. c. French, JehnD. Caldwell, III. NOAH, A
Silas N. Martin,, John N. Cofse, George Z
Wentworth, Philip H. Mergan,J. D. Cam
eron, Marshal O, Roberts, James L. Hodges
John Kay wv. Vermilye, EnochsL. Fauehef
Charles +. Liyermore. Joseph H. Oglesby
John WhytOck, Daniel Drew, +. s. Davis
W.Ort6n, A. C.. Babcock, Thpmas "A. Scott
Samuel d. Hoffman, H. Ransdale, William
II. jackson, Z. c. Parsons, Delos w. EN-
mons, NJ. A. Southworth, JOHN III. Hall, G.
Jacobs. L. T. Smith, WiP. Dole, C. A. Weed
AssP.IK. Safford, III. Me C ulloagh, Charles
jackson, Elisha Dyer, Alfred Anthony
James Hoy, NJ. w. Benjamin, H. D. Cooke
Joseph r. West w. 8. Huntington, j.. NJ
Tebbetts, c. G. Leondridge, D. D. Porter
NJ. Woodruff, Hiram Price, NJ. C. Hunter,
W.T.. Walters,J. b. Brewnlow, T. A. Nor,
ris. Owen Tuller, j.. II. Ledlie, K. NJ. Bishop
Samuel Craighead, d. N. Stanton, Au.
gustps II: Whiting. g, L. Johnston. J.. W.
Geedland; Powell Clayton, Samuel Tate;
w. Bolton, H. Robinson, George Nancy,
o.. H. Bynum, M Burns, j. C. Good,
loe, EGG. Barney, Cyrus Bussey, iJ.-W
Forney, j. Lockwood, E. NJ. Davis. N. Pat
ton, w. Flanagan, G.O'Brien, G. p. Buel,
III. Gliding. JJ. Newell, e. AZ Rice, r.
NJ. Shoemaker, Samuel Sloan, S. w. Morton,
}. B. Bowman, l.. M. Flournoy, J. j. Kinds,
CIR. Weeks, D. 7. Ludeling, b. G. Gilbert,
b. ID. Williams, Thomas Olcott. G. A. Eos
dick, Harry Hays, P. s. Forbes. John 7.
G. Stanton, Cyrus H. Baldwin, A. J. Hamil-
ton, Rush r.. Sloan, .Silas G. vCelgroxe, Sam
uel d, Jones, N. H. Decker, William N.
Leet, i. E. Allen, j. B. Chayes, Augustus
Ko,rntze, John N. Goodwin, William S.
Rosecrans, Michael Hahn, H. G. Warmoth,
j. s. Williams, q. M. Spencer, L. j. Highly,
w. C. Kimball, and all such persons as shall
ormay be associated with them, and their
successors; are hereby created a 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 impleaded,
defend and be defended, in all courts of
law and equity within the United States.
and may maxi and use common seal: and
the said corporation is hereby author
lied Rnd empowered 10 lay out,
locate,r, construct, furnish, maintain,
and enjoy continuous railroad and tele-
graph line, with the appurtenaRces from
point at or near Marshall, county of Rar-
risen, 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 a point at or
near Ell Paso; thence by the NEST 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
fornih, to ships channel, in the bay of San
Diego, in the State of California, pursuing
In the location thereof, as near as NAV 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 fpo1 ses 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 a quorum for the transac-
ton of business), to be known as the Texas
Pacific Railroad Commissioners, who shall
meet in tile 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
cOrporaters 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 fer 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, eentum
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 il shall
be lawful for such subscribers or stock
holders, or u majority thereof, TO organize
said company in accordance with the pro-
visions of this act, and to elect net less
than seven, or 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
ident 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
d -
The directors shall hold their offices for any
term not exceeding three years, as may be
provided IN the bylaws; and the annual
meetings of stockholders shall take place as
provided for in said bylaws.
SEC. 8. That the capital stock of the Texas
Pacific Railroad Company shall be fixed by
the board of directors at SUN not exceed
ing fifty millions of dollars. in shares
Of one hundred dollars; and when the
amount is SO fixed, it shall never be in
creased except by consent of Congress. AS
made by a majority vote of the whole num-
DER of directors at regular meeting, which
'aid assessments shah be paid at the expira-
ion of thirty days after notice given in
me newspaper in each ofthe cities Of Wash
ngton; Philadelphia, New York and New
I Sec. A. That the said Texas Pacific Rail
Dad Company shall have power and lawful
to purchase the stock, land
grants, franchises and appurtenances of,
md consolidate on such terms as may be
agreed upon between the parties, with anv
'ailroad company or companies heretofore
chartered by congressional, State or terri |
-orial authority, on the route prescribed in
jhe first section of this act; but no such con-
'olidation shall be with any competing
through line of railroads to the Pacific
Ocean. - .-. -,-,
SEC, >. That the said company shall have 4
lower and authority to make running ar
'angements with any railroad company or
companies heretofore chartered, or that may
hereafter be chartered by congressional,
State or territorial authority; also to pur-
'hase lands, or to accept donations, or /
grants of lands, or other property, from |
State or individuals for the purpose of aid 1
ng In carrying out the, object of this COM |
1any. - 80 H., -. i
| SEC. g., That the rights, land, land grants, |
franchises, privileges ,and appurtenances