New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-14
LAWS o1y THE UNlEp RTATE$
Passed ~ ~! 21nisdk Aasa1sauef ID
First Congress.

AN ACT to incorporate the Texas Pacif
Railroad Company. and to aid in the co,
structiOn Of its Road. and for other pul
poses.
Representatives of tho Enited -States q
America in Congress assembled. That job
Fremont, James L. Alcorn. G. M. Dodge
q. c. French. John D. Caldwell, J. J. Noah, 4
G: Osborne, Timothy Hurley, C. C. Poo
Si!as n. Martin, John N. Corse, George Z
wentworth, Philip II. Morgan, j. D. Cam
er1n, Marshal o. Roberts, James L. Hodges
John Kay, w, Fermilye, Enoch L. Faucher
Charles +. Livermore, Joseph H. Oglesbv
John Whytock, Daniel Drew, f. S. Davis
| w. Orion. A. G. BabcOck, Thomas A. Scott
samuel D. Hoffman, H. Ramsdale, William
H. jackson, X. c. Parsons, Deios w. En-
mons. M. A. Southworth, JOHN H. Hall, G
| =. Kinney, w. p. Clark, James Dart, H
Jacobs. l.. I. Smith. w. p. Dole, C. A. Weed
| A. T. X. Stafford, H. Mccullough. Charles
jackson, Elisha Dyer, Alfred Anthony
James Hoy. M. w. Benjamin, II. d. Cooke
Tebbetts, c. G. Leondridge, ID. D. Porter
NJ: Woodruff, Hiram Price, NJ c. Hunter
w. T. Walters, j. b. BrOwnlow, L. A. Nor.
ris, Owen fuller, j. II. Ledlie, r. NJ Bishop,
Samuel Craighead, D. n Stanton, Au-
custus II. Whiting, G. L. Johnston. j. w.
GoOdland, Powell Clayton, Samuel Tate,
". Bolton, II. Robinson, George Nancy,
.. II: Bynum, M. Burns, J. c. Good
loe, Z. G. Barney. Cyrus Bussey. j. w.
Forney, }; Lockwood, +: NJ. Davis: N. Pat
ton, w. Flanagan, G. O'Brien. G.. Z. Buel,
G. II. Gliding, j. j. Newell, E. W. Rice, X.
NJ. Shoemaker, Samuel Sloan, S. W. Morton,
J. Is. Bowman. l.: N. FlOurnOy. j. j. Hinds
G. X. Weeks, j. I. Ludeling, Il. G. Gilbert,
b. ID. Williams Thomas OlcOtt. G. A. Fos-
dick, Harry Hays, p. s. Forbes. John T.
Sprague, l.. H. Marsh, A. w. Beckwith, j.
c. Stanton, Cyrus H. Baldwin, A. Js Hamil-
ton, Rush 4. Sloan, Silas C. CoIgrove, Sam
uel D; Jones, N. II. Decker, William n.
Leet. +. +. Allen, j. b. Chaves. Augustus
kountze, John n. Goodwin, William &.
Rosecrans, Michael Hahn. II. c. Warmoth,
j. 5. Williams, G. NJ. Spencer L. j. Highly,
w. Z. kimball, and all such persons as shall
or may 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 impleadeti
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 and tele-
graph line. with the appurtenances from
point at or near Marshall. county Of Har-
riscn, State # Texas; thence BY the most
direct aud eligible route. to be determined
by said COMPANY, near the thirty -second
parable! OF north latitude, to a point at or
near FL 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
:orni;s, to ships channel, in the bay of San
Diego, i'll the State of California. pursuing
n 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 tpol ses Of this act.
SEC. =. That the persons named in the |
irst section of this act shall constitute a
BOARD of commissioners twenty Of whom
shall constitute a quorum for the transac-
ion of business), 70 be known as the Texas |
Pacific Railroad Commissioners. who shall |
meet in the city OF New York within ninety
lays after the passage Of this act, at time
% be designated in notice to be signed |
~ the person first named in the list of |
and six of his associates, and to |
,e published for two weeks in, at least. one !
laily paper in New York, New Orleans and |
" washington and. when so met, they NAV |
'ause books TO be opened for the subscrip- |
ion of the capital stock of said company, |
md when twenty thousand shares. amount |
ng to two millions Of dollars. shall have
'een subscribed, and ten per centum
ctually paid thereon. ip money, to the
reasurer. to be elected by said commits
win hall
eeping and payment to the treasurer Of
he company when organized. then it shall
e lawful for such subscribers or stock
olders, 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-
1rs. a majority Of whom shall be necessary
the transaction OF business, and who
nall hold their Offices for one year and
ntll their Successors shall be elected and
uaItied; and the said directors shall imme-
lately proceed to elect president, vice
resident, secretary and treasurer: the pres
lent and vice president shall be directors.
t AL elections for directors each share OF
,Ock shall be entitled to one vote. which
lay be given by the holders in person. or by
roxy, who shall also be shareholder.
he directors shall hold their offices for any
'r1n not exceeding three years as may be
rOvided in the bylaws: and the annual
ceilings of stockholders shall take place as
'ovided for in said bylaws
SEC. 3. That the capital stock of the Texas
acific Railroad Company shall be fixed BIZ
e board Of directors at sum not exceed
& fifti' millions of dollars. in shares
one hundred dollars; and when the
Mount is so fixed, it shall never be in
eased except by consent of Congress. AS
upon said stock shall only be
AIDE by "a majority vote Of the whole num-
r OF directors al regular meeting, which
id assessments shall be paid at the expira- !
~ of thirty days after notice given in
gton, Philadelphia, New York and New {
cleans. I
SEC. 4. That the said Texas Pacific Rail
adj Company shall have power and awful G
thority to purchase the stock, land
ants, franchises and appurtenances of, q
d consolidate on such terms as may be a
reed upon between the parties, with any r
'lroad company or companies heretofore Q
artered by congressional, State or terri t
nal authority, on the route prescribed in |
9 first section Of this act; but no such con- e
lidation shall be with any competing a
rough line Of railroads to the Pacific a
can.
SEC .. That the said company shall have 8
wer anu authority to make running ar 8
ngements with any railroad company or
mpanies heretofore chartered, or that NAV y
reatter be chartered by congressional, u
ate or territorial authority; also to pur- o
ase lands, or to accept donations, or o
ants Of lands. or other property, from | Il
ate or individuals, tor the purpose of aid a
in carrying out the object of this com r,
ny. n
SEC. 6. That the rights, land, land grants, h
privileges and appurtenances O
q property OF every description belong 8,
10 each OF the consolidated or purchased D
'r"4,diy VI companies, as herein | 81