New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-08
LAWS OF THE UNITED STATES.
easseA ae The Third sessse, n sne r>r,v.
First Congress.

First Congress.
'->~-
AN ACT to incorporate the Texas Pacific
Railroad Company, and to aid in the con
structiOn Of its Road, and for other Dur
poses.
Be it enacted BY the Senate and House o,
Representatives of the United States al
America in Congress assembled, That John
c. Fremont, James L. Alcorn, G. NJ. Dodge
&C. French, John D. Caldwell, ]. j. Noah. A
Silae N. Martin, John NJ. Core, George Il
Wentworth, Philip H. Morgan, j. D. Cam
eron, Marshal .. Roberts, James L. Hodges
John Ray, w. Vermilye, Enoch L. Faucfer,
Charles +. Livernore, Joseph H. Oglesby'
John Whytock, Daniel Drew, F. S. Davis,
w. OrtOn, A. c. RabcOck, Thomas A. Scott,
Samuel D. Hoffman, II. Ramsdsle, William
II. jackson, r. c. Parsons, Delos w. En-
G. Kinney, w. P. Clark, James Dart, H.
Jacobs. L: T. Smith. W. P. Dole, c. A. Weed,
A. P. X. Stafford, H. Mccullough, Charles
jackson, Elisha Dyer, Alfred Anthony,
James Hoy, N. w. BENJAMIN, H. d. Cooke,
Joseph K. West, w. s. Huntington, j. M.
Tebbetts, C. c. Leondridge, d. d. Porter,
d. Woodruff, Hiram Price, NJ. c. Hunter,
w. 7. Walters, J. B; Brownlow, T: a: Nor
ris. Owen fuller, J. H. Ledlie, X. NJ. Bishop,
Samuel Craighead, d. N. Stanton, Au-
gustus H: Whiting. G. L. Johnston. j. W..
Goodland, Powell Clayton, Samuel Tate,
". Bolton, H. Robinson, George Nancy,
o. H: Bynum, NJ. Burns, J. C. Good
l0e, E. g. Barney, Cyrus Bussey, j. w.
Forney, ]. Lockwood, E. M. Davis. N. Pat
ton, w. Flanagan, g. O'Brien, G. P. Buel,
G: Il. Gliding, ]. J. Newell, E. w. Rice, r.
J. B. Bowman. L. NJ. FlournOy. j. j. Kinds.
G. Z. Weeks, J. T. Ludeling, b. c. Gilbert,
B. D. Williams, Thomas OlcOtt. G.. A. Eos
dick, Harry Hays, p. S. Forbes. John 7.
Sprague, l.. X. Marsh, A. w. Beckwith, j.
c. Stanton, Cyrus H. Baldwin, A. j. Hamil-
ton, Rush Z. Sloan, Silas c: Colgreve, Sam
uel d. Jones, n. H. Decker, William N.
Leet, F. E. Allen, ]. 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 a. 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
have perpetual succession, and shall be able
to sue and be sued, plead and be implicated,
defend and he 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,
and enjoy q continuous railroad and tele-
graph line, with the appurtenances from
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 q point at or
near FL PasO; thence by the most direct
and eligible route, to be selected by said
A.:
coma, 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 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 [po] ses OF this act.
Sec ?. That the persons named in the
first section Of this act shall constitute
board Of commissioners twenty Of whom
shall constitute quorum for the tIansac-
ton Of business), to he 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 nay
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 awful 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 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 q president vice
president, secretary and treasurer; the pres
ident and vice president shall he 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 he q shareholder.
The directors shall hold their offices for any
term not exceeding three years, as may be
provided in the bylaws; and the annual
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
The board of directors at q sum not exceed
ing fifty millions of dollars. in shares
If one hundred dollars; and when the
amount is so fixed, it shall never be in
creased except by consent of Congress. As
upon said stock shall only be
made by a majority vote Of the whole num-
Der of directors at q regular meeting, which
,aid assessments shall be paid at the expira-
ion of thirty days after a notice given in
,ne newspaper in each of the cities Of Wash
ngton, Philadelphia, New York and New
Orleans.
Sec. 4. That the said Texas Pacific Rail-
road Company shall have power and lawful
to purchase the stock, land
grants, franchises and appurtenances Of
and consolidate on such terms as may be
agreed upon between the parties, with any
railroad company or companies heretofore
by congressional, State or terri
tOrial authority, ON the route prescribed in
the first section Of this act; but no such con-
'OlidatiOn shall be with any competing
through line Of railroads to the Pacific
Ocean.
SEC. 5. That the said company shall have
power and authority to make running ar.
with any railroad COMPANY or |
heretofore chartered, or that NAV
hereafter be chartered bv congressional,
State or territorial authority; also to pur.
,hase lands, or to accept donations, or
.rants Of lands, or other property, from
;tate or Individuals for the purpose Of aid
ng in carrying out the object Of this COM
AMY.
SEC. 6. That the rights, land, land grants,
ovA l