New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-13
LAWS OF THE UNITED STATES.
Passed MT the Third Session of the Forty
First Congress.

Railroad Company, and to AID IN the con-
struction of its Road, and for other pur-
poses.
REPRESENTATIVES of the United States of
America in Congress assembled, That John
G. Fremont James l.. AIcorn, G.. M. Dodge,
o. c. French, John d. Caldwell, j. j. Noah, "A.
G.. Osborne, Timothy Hurley, G. G. Pool,
Silas n Martin, John NJ Corse, George E.
Wentworth, Philip II. Morgan, j. D: Cam
eron, Marshal o. Roberts James L. Hodges,
John Ray, w. Vermilye, Enoch L. Faucher,
Charles +. Livermore, Joseph II. OglesbY,
John Whytock, Daniel Drew, +. S. Davis,
w. Orion, A. C. Babcock, Thomas A. Scott,
Samuel ID. Hoffman, III. Ramsdale, William
II. Jackson, R. c. Parsons, Delos w. EN-
mons, M. A. Southworth, John III. Hall, G.
C. Kinney, w. P. Clark, James Dart, H.
A. P. X. Stafford, H. Mccullough, Charles
jackson, Elisha Dyer, Alfred Anthony,
James Hoy, M. w. Benjamin, H. d. Cooke,
Joseph r. West, w. S. Huntington, j. NJ.
Tebbetts, c. c. Leondridge, d. d. Porter,
NJ. Woodruff, Hiram Price, NJ. C. Hunter
| w. T. Walters, J. B. Brownlow, I. A. Nor
ris. Owen fuller, j. II. Ledle, r. NJ. Bishop,
Samuel Craighead, D: N: Stanton, Au-
gustus II. Whiting, G. L. Johnston, j. w.
Goodland, Powell Clayton, Samuel Tate,
| " Bolton, H. Robinson, George Nancy,
| o. Fl. Bynum, NJ Burns, j. G. Good
| loe. e. G. Barney, Cyrus Bussey, j. w.
| Forney, J. Lockwood, +. NJ. Davis, n. Pat
ton, w. Flanagan, G. O'Brien, G. P. Buel,
| G. II. Gliding, j. j. Newell, E. w. Rice, K.
| NJ. Shoemaker, Samuel Sloan, 5. w. Morton,
| j. b. Bowman, L. NJ. FlournOy, j. j. Kinds,
| G. R. Weeks, j. T. Ludeling, B.. c. Gilbert,
| B. d. Williams, Thomas OlcOtt. G. A. Eos
dick, Harry Hays, P. S. Forbes. John t.
| Sprague, l.. r. Marsh, A. w. Beckwith, J.
| C. Stanton, Cyrus II. Baldwin, A. j. Hamil-
| ton, Rush Il. Sloan, Silas c. Colgrove, Sam
| uel D. Jones, n. II. 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 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 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
| DOlDU dU vi near MdTSudll, COUNTY VI 11dI-
| 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, 10 a point at OF
near Ell 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
/ f0rnis. 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 ses of this act.
SEC. ,. That the persons named in the
| first section of this act shall constitute q
board of commissioners twenty of whom
| shall constitute quorum for the uansac
| tion of business), 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 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 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
| actually paid thereon, in money, to the
treasurer, to be elected by said commits
sioners, who shall give bond fol, its safe
| keeping and payment to the treasurer of
| the company when organized, then it shall
be lawful for such subscribers or stock
holders, or 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, 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 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
| proxy, who shall also be 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
| the board of directors at sum 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
| sessments upon said stock shall only be
made by majority vote OF the whole num-
Der of directors at regular meeting, which
said assessments shall be paid at the expira-
ton of thirty days after notice given in
one newspaper in each of the cities of Wash
ington, Philadelphia, New York and New
! Orleans.
Sec 4. That the said Texas Pacific Rail
road Company shall have power and lawful
| authority 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
| chartered by congressional, State or terri
torial authority, on the route prescribed in
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 have
power and authority to make running ar
| rangements with any railroad company or
companies heretofore chartered, or that may
hereafter be chartered by congressional,
State or territorial authority; also to pur-
chase lands, or to accept donations, or
grants of lands, or other property, from
State or individuals, for the purpose of aid
ing in carrying out the object of this COM
pany.
SEC 6. That the rights, land, land grants,
franchises, privileges and appurtenances
and property of every description belong
ing to each of the consolidated or purchased
| railroad company or companies, as herein
provided, shall vest in and become absa-
| futelv the DroDertv of the TEXAS Pacific