The morning call., 1893-07-09
shall also specify that the said stock is
held subject to the following irrevocable

shall also specify that the said stock is
held subject to the following irrevocable
trusts, 10 wit:
Said trustees, their survivors. survivor.
successors and successor, shall hold said
shares with full power to fill from time to
time each and every vacancy In their num-
Der upon the joint written nomination Of
a majority OF the surviving trustees, APP
proved in writing by the holders OF q
majority of the trustees certificates issued
hereunder.
Each new trustee shall from and afte r
the filing of said nomination. so approved
in the office of the said railroad company.
be as fully vested with said trust as if be
was one of the original trustee above
named.
Second-Said trustees above named.
their survivors, survivor, successors ana
successor, shall, as stockholders ana own
ers. vote said shares for all purposes what
soever, upon every questionTalsed at each
and every meeting OF said company,
whether annual or special. and at any and
all stockholders elections, as the majority
of them shall in their discretion from Time
to time determine, and shall also sign,
execute and acknowledge as stockholders
any and all documents. consolldation
papers, written assents. bylaws. amend
ments to bylaws, contracts, acts or deeoS
which in the opinion of a majority OF SAID
trustees it may be necessary, oeSlraole OF
eXpedient to SO sign, execute or ackno"l-
edge.
Such trustees certificates shall further
set forth respectively that the shares rep
sented thereby are transferable only upon
surrender of such certificates by convey
ance in writing signed by the person TO
whom the same is issued, or his attorney
thereunto lawfully authorized and regis
tered in the trustees trausfer-DOok there
hut hn RI a
trustees for that purpose, and that every
person accepting any transfer thereof de-
clares by SO doing that he receives said
shares subject to said trust, and that such
certificate is not valid until signed by two
of said trustees and registered as afOre-
said.
The said certificates shall be transferable
by Endorsement and registration as above
provided in the same manner as shares of
stock ordinarily are.
Five shares of stock each may be trans
ferred by the trustees to, and allowed to
stand in the names of, the persons selected
az directors of the proposed railroad COM
pany to qualify them as such.
AND ii is further cGyenanted and agreed
that in the event of any consolidation of
the said proposed corporation with any
other corporation, after such certificates
have been issued, and also in the event of
any sOlidation of such consolidated cor
pOration thereafter with any other corpo-
ration, then said trustees shall have the
power at any time, by ma jorlty vote, to
call in such issued certificates and ex-
change the same for other trustees GER
tificates similar in form, but representing
stock in such new Or Consolidated corpora
ton.
This agreement shall be binding upon the
heirs, executors, administrators. successors
and assigns of the respective parties hereto.
and all parties thereto, and all parties who
shall subscribe their names to this agree
ment, or to other agreements substantially
Identical herewith. shall be deemed par
ties TO this agreement. and each and every
subscriber hereto affixing his name there
by covenants and agrees to and with such
parties as subscribe their names TO agree
ments identical or substantially Identical
herewith, with the same force and effect as
if the names of such other parties were
hereunto subscribed.
1t is further understood that no call sha
be made until the amount of three hun
dred and fifty thousand 1850, 000) dollars
shall have been subscribed, and subscrip-
tlnns snail be then payable in lnstallments
extending through six months or more. as
the board of directors of said proposed
corporation may determine
After the conference the following
cordial support was rendered by an im-
portant organization:
WHEREAS, A proposition sub mitted by
the Traffic Association is now before the
people of the State Of California looking
to the construction of continuous Inns Of
railroad through the San JOAQUIN Valley.
to be known as the San Francisco. Stock
ton and San joaquin Railroad. and where
as the Board of Control OF the California
League of Progress. after careful consid-
GRAFTON Of the agreement under which SUBJ
scriptions are to be subscribed, is satisfied
as to the practlcability of this plan. which
nSures the protection Of the best interests
of the construction of a true competitive
railroad; therefore be it
ReS0lued, That the Board Of Control of
tie California League of Progress, desir-
Gus of furthering all efforts directed toward
competition in transportation. heartily in
dorses the proposed road and pledges the
support of its members to this undertaking.
which will be of lasting benefit to every
section OF the State.