New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-03
Laws. OF THE UNITED STATES,
Passed at the Third Session of the Forty
First Congress.


struction Of its Road, and for other pur-
poses.
BE it enacted by the Senate and House of
Representatives of the United States of
America in Congress assembled, That John
C. Fremont, James L. Alcorn, G. M. Dodge,
O. C. French. John ID. Caldwell, j. j. Noah, "A.
C., Osborne, Timothy Hurley, G. c. Pool,
Silas N. Martin, John M. Corse, George E.
Wentworth, Philip H. Morgan, j. D. Cam
eron, Marshal O. Roberts, James L. Hodges,
John Ray, w. Vermilye, Enoch L. Faucher,
Charles +. Livermore, Joseph HI. Oglesbv,
John Whytock. Daniel Drew, +. s. Davis,
w. Orion, A. C. Babcock, Thomas A. Scott,
Samuel D. Hoffman, H. Ramsdale, William
H. jackson, r. C. Parsons, Delos w. En-
mons, M. A. Southworth, JOHN HI. Hall, G..
C. Kinney, w. p. Clark, james Dart, H.
Jacobs, L. T. Smith, w. p. Dole, "A. Weed,
A. p X. Stafford, H. Mccullough, Charles
jackson, Elisha Dyer, Alfred Anthony,
James Hoy, NJ. W. Benjamin, H. d. Cooke,
Joseph r. West, w. s. Huntington, j. M.
Tebbetts, c. c. Leondridge, d. ID. Porter,
NJ. Woodruff, Hiram Price, NJ. c. Hunter,
w. T. Walters, j. B. Brownlow, T. A. Nor
ris. owen fuller j. H. Ledle, r. M. Bishop,
Samuel Craighead, D. n. Stanton. Au-
gustus HI. Whiting, G. l.. Johnston. j. w.
Goodland, Powell Clayton, Samuel Tate,
". Bolton, H. Robinson, George Nancy,
o. II. Bynum, NJ. Burns, j. C. Good
loe, E. G. Barney, Cyrus Bussey, j. w.
Forney, j. Lockwood, Z. NJ. Davis, N Pat
ton, w. Flanagan, G. OBrien, G.. p. Buel,
g. HI. Gliding, J. j. Newell, E. w. Rice, r.
M. Shoemaker, Samuel Sloan, S. w. Morton,
j. B. Bowman, l.. NJ. Flournoy, J. j. Kinds,
G. X. Weeks, j. T. Ludeling, b. c. Gilbert,
b. d. Williams, Thomas Olcott. G. A. Fos-
dick, Harry Hays, p. S. Forbes. John T..
Sprague, L. r. Marsh, A. w. .Beckwith, j.
G. Stanton, Cyrus III. Baldwin, A. j. Hamil-
ton, Rush K. Sloan, Silas C. COlgrove, Sam
uel d. Jones, n III. 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. NJ. Spencer, L. j. Highly,
w. C. Kimbail, 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 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 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 a point at or
near Ell PasO; thence by the most direct
and eligible route, to be selected by said
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
forni., 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 second parallel of north latitude,
and is hereby vested with all the powers,
privileges and immunities necessary to carry
into effect the pur [pol 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 businessl, 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 time
to be designated in notice to be signed
by the person first named in the list of
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
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
10 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
dent 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 in 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
If 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-
Der of directors at regular meeting, which
aid assessments shall be paid at the expira-
ion of thirty days after a notice given in
me newspaper in each of the cities of Wash
ngtOn, Philadelphia, New York and New
orleans.
SEC. a. That the said Texas Pacific Rail-
Dad Company shall have power and lawful
authority to purchase the stock, land
,rants, franchises and appurtenances of,
md consolidate on such terms as may be
greed upon between the parties, with any
abroad company or companies heretofore
chartered by congressional State or terri
orial authority, on the route prescribed in
he 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 may
hereafter be chartered by congressional,
State or territorial authority; also to pur-
hase lands, or to accept donations, or
,rants Of lands, or other property, from
state or individuals, for the purpose of aid
NC in carrying out the object of this com
AMY.
SEC. 6. That the rights, Land, land grants,
privileges and appurtenances
md property of every description belong
ng to each of the consolidated or purchased
abroad company or companies, as herein
provided, shall vest in and become abso-
utely the property of the Texas Pacific
Company, provided. that in all