An Act to supplement certain provisions of Federal law incorporating the Texas and Pacific Railway Company in order to give certain additional authority to such company.
PL 87-527 (S.3025), enacted 07/10/1962

142 
PUBLIC LAW 87-527-JULY 10, 1962 
[76 STAT. 
14 use 631-654. 
(&) Chapter 17 is amended by adding the following new section 
after section 654: 
'^§ 655. Arms and ammunition; immunity from taxation 
"No tax on the sale or transfer of firearms, pistols, revolvers, shells, 
or cartridges may be imposed on such articles when bought with funds 
appropriated for the United States Coast Guard." 
(7) The analysis of chapter 17 is amended by adding (he following 
' 
new item thereto: 
"655. Arms and ammunition; immunity from taxation." 
Approved July 10, 1962. 
, , 
Jvly 
10, 1962 
[S. 3025] 
Public Law 87-527 
AN ACT 
To supplement certain provisions of Federal law incorporating the Texas and 
Pacific Railway Company in order to give certain additional authority to 
such company. 
Texas and Pa-
cific Railway 
Company. 
Acquisition of 
stock from other 
carriers. 
24 Stat. 379. 
49 u s e 1 ef 
seq. 
Capital stock 
Increase. 
Be it enacted hy the Senate and House of RepTesentatives 
of tlie 
United States of Ainsrica in Congress assembled, That in addition to 
the powers conferred by the Act entitled "An Act to incorporate the 
Texas Pacific Railroad Company and to aid in the construction of 
its road, and for other purposes", approved March 3, 1871 (16 Stat. 
573), as supplemented by the Act of May 2, 1872 (17 Stat. 59), the 
Act of March 3, 1873 (17 Stat. 598), the Act of June 22, 1874 (18 
Stat. 197), and the Act of February 9, 1923 (42 Stat. 1223), The 
Texas and Pacific Railway C.ompany shall have the right and author-
ity, subject to the provisions of the Interstate Commerce Act and any 
Acts supplemental thereto, to acquire securities or stock of, or property 
from, any Other carrier. 
SEC. 2. The capital stock of The Texas and Pacific Railway Com-
pany, heretofore fixed by its board of directors pursuant to the pro-
visions of the Act of February 9,1923, at $75,000,000 may be increased 
at any time in such amounts as do not result in more than $100,000,000 
of such company's capital stock outstanding and as are agreed to by 
resolution of its board of directors duly adopted in accordance with 
such company's bylaws and with the consent of the holders of a 
majority in amount of its then outstanding capital stock, expressed 
by vote in person or by proxy at a meeting of said stockholders called 
for the purpose upon such notice as such bylaws require. The pro-
visions of the Act of February 9, 1923, with respect to the additional 
capital stock authorized by such Act (except w'ith respect to the 
aggregate amount thereof), shall be applicable to the additional 
capital stock authorized by this Act and, in addition thereto, the par 
value of the capital stock of said company and the number of shares 
thereof shall, subject to the limitations of this Act, be in such amount 
as may be determined from time to time by resolution of such com-
pany's board of directors duly adopted in accordance with such com-
pany's bylaws and with the consent of the holders of a majority in 
amount of its then outstanding capital stock, expressed by vote in 
person or by proxy at a meeting of said stockholders called for the 
purpose upon such notice as such bylaws require. 
SEC. 3. All power and authority granted to The Texas and Pacific 
Railway Company by this Act, the Act incorporating such company, 
and Acts supplemental thereto, shall be subject to the provisions of 
the Interstate Commerce Act and any Acts supplemental thereto. 
Approved July 10, 1962.