The weekly Arizona miner., 1872-07-13
OUR RAILROADS.


 establishing route of Texas and Pacific or 32d Parallel Railroad
 The people of San Francisco appear to be very much in earnest in their desire to join means and forces with every company, city, etc., that IS at al! in favor of completing the Atlantic and Pacific Railroad Their com mlttee has recently returned, made very satisfactory report, and we see by the latest papers received here that the prople of the good city by the bay were fervenily resoiv- ing to, at once to raise ten millions of dollars, Tn aid of the proposed great work
 The people of St. Louis are equally in ear nest in the matter, and all are now acting upon the following agreement, which binds all parties:
 l. That il concession Of five million dollars in common stock shall be made to the subscribers under this agreement, as provided in the follow ing section.
 7. New subscriptions to the preferred and com mon stock of the company are to be allowed in Missouri and California, and stock issued thereon as follows: To the preferred stock not less than twelve million dollars, nor more than fifteen mil non dollars. On every one hundred dollars oi such preferred stock, subscribed md paid for at Its par value in currency the respective subscrb. CTS shall be entitled to, and allowed one hundred dollars of the preferred stock thirty three and one-third per cent. of the common stock ot tine company, provided that said thirty-three and ouc tbrd per cent. of common stock shalI be made m and delivered to the subscribers to said preferred stock by the present stockholders from and out of iull paid unassessable stock heretofore subscribed TOT CT issued to them or as the board of directors of the company may otherwise order and direct California shall also be entitled to subscribe for and receive Of the preferred stock it's par value m currency, without the allowance of any per- eentage Of the common stock, the additional amount of five million (5,0000 000) dollars.
 5. Such preferred stock shall bear interest on all payments made thereon from tue date ot the sev- eral payments until the completion oi the said railroad from San Francisco to the Colorado river at the rate Of seven per cent. per annum, payable in the cominon stock of the company, for which interest money certificates of not less than one hundred dollars shall, at the end of each year bc issued accordingly; but no certificates for frac- tiOnal shares shall be issued.
 4. The stock subscribed for, or belonging to St. Louis or any city or county of California, as cor pOratons municipal bodies, shall be placed, as may hereafter De determined by such corporations respectively, or authorized by law, with trustees, who shall represent and vote such stock in the interest and behalf of the respective corporations as fully as individual stockholders could do. ,. The common stock issued and distributed under paragraph two, to private subscribers eith- CT in California or Missouri, shall also be placed in the hands of trustees, and shall be represented and voted 5y them respectively, in the same man. ner as Is provided in paragraph four, in order that the said Atlantic and Pacific Railroad Compa- ny may be managed and operated for and in be- half of said corporation therein mentioned and referred to, and be and remain under their con- trOl and direction. 6. Certificates of said common stock shall be negotiable, and subject to sale and transfer, but shall be issued with the provision an their face that such stock shall be subject to the conditions and such control as in above paragraphs four and five mentioned, for tue period of twenty years z. Should it become necessary for the purpose of constructing or completing any part of said railroad 10 incorporate in the State ot California; all parties in interest shall be represented in the management of said interpretations, but theCal- ifOrnia stock shall have majority of the directors or trus ccs. Such interpretations shall be forand in the interest of the Atlantic and Pacific Rail- road Company. ~A 8. All preferred and common stock issued under authority of anything herein contained, shall have an equal interest in all the estate property and unissued stock of the company, and shall be on equality with other preferred and common stock heretofore issued, except as to preferred dividends of seven per cent. on the preferred stock of the company, and shall be full paid and inaccessible.
 U. lion four hundred thousand dollars (sl6 400 ,0O0) of the stock of the Company issued, or author iZed to be issued and that herein above authorized to be issued, there shall be no other or further of either preferred, or common stock unless 1t be for cash at its par value actually paid therefor to the Company. The assent of the majority Of the California stock is required in all cases to give validity to any future sale or issue of stock be- yond that in this paragraph referred to and men, toned.
 TO- All stock subscribed for in good faith in California and Missouri shall be entitled to repre- sentation in the board of directors of said rail- road company in the proportion that the amount subscribed and paid for according to the terms of the charter a nd bylaws of the Company bears to the other stock, and shall respectively have the privilege of naming such directors. The Califor- nia directors shall have the direction and control of the expenditure of all moneys subscribed or paid in by or on account of California stock hold CTS and the same shall be expended for the build. ing completion and equipment of the road from San Francisco to the Colorado River, or as they may otherwise direct. It is understood that in any event the California stock shall have at least three directors.
 II. Time shall be given until the first day of January 1873, for California to accept and carry into execution the above proposition.
 NEW YORK, June f, 1872. Agreed to and signed in duplicate by the officers of the Atlantic and Pacific Railroad Company and by the Committee from San Francisco.
 The Atlantic and Pacific Railroad Company
 A. PIERCE, JR., President. VIM. HAYES, Secretary.
 The Committee from San Francisco
 RICHARD c. SNEATu,
 C. T. HOPKINS.
 JOHN s. LAGER.
 At meeting of the Directors Of the Atlantic and Pacific Railroad Company, held in New York, on June 4, 1872, thc following resolution was adopted:
 Resolred, That the agreement between this Company and the Committee from San Francisco relative to subscription of stock in California and Missouri, this day presented, be, and the same is hereby approved, and the President and Sccreta " are authorized to execute the same on behalf of this Company.
 Attest. VIM. A. HAYES, Secretary