The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-06-13
>ceic@t,ef,<t..tccic.t..j. t,.t,.3..t.:tc{
+ THE PIONEERS railroad CHARTER. !
I'LL 'o''II''O '""-'o.
Observation-Disclosures

dsys' Notice Ia 4 newspaper published at
. olympia. are hereby authorized IN open
subscription books for said stock at such
places ~ they nay deem proper. and
shall keep naeh tsooks open anti $50 10
Of said CAPITAL stock shall be taken
SID commissioners shall require each
wabee-lber - pay Is on each share sgh-
sc~fassd at the time Of subscribing. Said
er.rrssnis sioners shall Immediately there
after call Z meeting Of the stockholders.
Is giving thirty days notice III such
sewspap .rs as may - determined neces-
sary. and al such meeting IL may be law
fai TO elect tine directors Of said COM
pany and when the directors Of said
company are chosen. the said commits
sioners shall deliver said subscription
books with the sums OF money received
BY them rs commissioners. To said d.
r.csors- No person shall be "A director
In said company unless ne shall own az
least one share of the capital stock
Sec. :. Tint 'he right Of, and the real
estate purchased for the right-of-way by
said company. whether by mutual agree
rnent or otherwise. or shall become the
property % the company by operation Of
law. in this act provided. SHAH. upon
the payment Of the amount OF money be
longing 70 the owner or owners o. said
lands as a compensation o. the same. be-
come the property OF said company in fee
simple.
Sec 8 The corporation may take and
transport on said railroad any person or
persons. mere ndise or other property.
by the force and power Of steam or ami
mails. any combination Of them. may
fix and establish and receive such rates
Of toll for ali passengers and property
! transported upon the same as the said
directors shall establish. The directors
are hereby authorized and empowered TO
a = al a nd fsE-i
regulations or ordinances that they may
deem necessary and expedient to accom-
piisb into effect the provisions of this
act and further transfer assignment of
the stock. which is hereby declared per-
sonai property. and transferable in such
manner as shall be provided hy the by
laws of the said company.
Sec. 3 The directors Of said company
after the same Is organized. shall have
power TO open books in the manner pre-
scribsd in the sixth section Of this act
10 fill up the additional capital stock. or
any part thereof. at such times as they
may deem Ii for the interest of said com
pauy. and all instaiimers required to he
paid on the stock originally TO be taken
! ard what may be taken, to increase the
ssid capital. shall be paid at such times
and IN such sums as the directors may
/ prescribe.
See. 10, Ia case az the death or resig-
nation Of the president or vice preside nj
| or any director. ar any time between the
| annual election. such vacancies may ne
filled for the remainder of the year
| whenever they may happen by the board
| of directors; and in case of absence of
| the president and vice president. the
board or directors shall have power to
| appoint president or vlce-president. pro
| sem.. who shall fulfil and execute such
| powers and functions as the bylaws of
| said corporation may provide. In case
| II should at any tine happen that an
| election shall not be made on any day.
| In pursuance Of this act. IL shall not in
| validate such election. and the corpora
| ton for that cause shall not be deemed
| dissolved. but such election shall be held
/ at any other time. as directed by the by
| laws Of said corporation.
| Sec. II. Said company shall have power
/ to unite It's railroad with any other rail-
| road now constructed which may
| hereafter he constructed at either ter
| mini. or at any point at which il may
| cross the same within this territory upon
| such terms as may be mutually agreed p
| ON between said railroad corporations &c,
| connecting, and for that purpose. full
| power IL hereby given II said company
| 10 make and execute such contract with
| any other company that may secure
/ the objects Of such connection; Provld-
| cd, That no cars shall run upon the line
| or track OF the road constructed by the
/ company hereby incorporated. except at
! the points of crossing or intersecting the
/ same
See Il. Said company liz hereby author
| lied. from time 10 time. to borrow such
| sum or sums OF money as may be naces-
| sary for completing and furnishing and
/ operating the said railroad. and to as
| sumo and dispose Of the bonds In de-
| nominations of not less than 500. bearing
| rate Of interest net exceeding per
/ cent. per annun. for any amount 50 bor-
/ rowed, and mortgage the corporation
| property and franchises or convey the
! same by deed or trust 10 secure the pay
| ment 81 any debt contracted hy said
| company for the purposes aforesaid: and
! tae directors ~ said company may con
/ Ter on any bondholderS 81 any bond is
! Saed for money borrowed as aforesaid
! the right "a convert the principal due or
/ owing thereon, into stock OF said COM
! paay az any time not exceeding ten
! years from date of the bond under such
! regulations as the directors Of said com
/ pany sc ftt 10 adopt and ali Saies If
| stock bonds that may Dc made At less
than par ve,ue. shall be good and valid
I and binding upon said corporation as IL
| such bonds had been sold for the fuli
| amount thereof.
Sec. g. This act shall he deemed n ynb-
/ for AL purposes therein expressed and
/ declared. IN all courts and places what
. sFcver. and SHAH he ~ force from and
/ after ia passage Provided said vail
/ ruad shall he commenced within three
wears, and completed within ten years
/ nom the passage - this act
Passed, January * 1857
One reason WHY this oid charter IS %
/ Vs3ue as an historical document Is h.-
caase il poTtrays 50 much ~ ths strug-
/ SEES. foresight and sulhsttans II the pso-
I nsfrS. This YVES in *. and there had
( already been Published ~ the national
government eleven ~ tn. thirteen vol
nsnes ~ that important work known rs
she Pacific Railroad Surveys II VIII
fe' remembered mat Isaac l. Stevens be-
sides being governor az Wash.ugton terri
tory had aiso been placed ~ charee II
tte principal WORK az that great survey.
The last two volumes ~ the reports
were furnished bS Gov stevens ana n1t-
ltahed I'm 1850. while he oas SERVING as
delegate a. congress frau washington
territory Those reports showed CON-
+ clustYr'y frat a srsuS-eontfneutaI ran.
+ raat vFs feasible Had irsirs ble. sna 3, Ia
therefore nHt Surprising fhat Gov Stov-
ers ANA h'S pioneer associates should
{ promptly move toward the s4ctEat com
T summation 80 So important au uaaertsk-
ins
\ search through the Journals ~ ire
/ s9urth session reveals tAo history ~ me
ra@sasa ot the old charter to ne rs FOL-
/ loNe
po 1anasrv g. is NJ Vgu.an7 Nsf-
! ieN ar leave. introduced TIRE measure IS
beU~@ o5I No a. which was r@aa taa
FIRST tsg's. ara unA"T q suspension 81 ere