Sidebilder
PDF
ePub

concerns of said Company; and the said Board of Directors may have full power to fill any vacancy or vacancies that may occur from any cause or causes, from time to time, in their said Board. And the said Board of Directors shall have power to appoint such engineers, agents, and subordinates as may from time to time be necessary to carry into effect the object of the Company, and to do all acts and things touching the location and construction of said road.

assessments on

vious notice.

SEC. 16. And be it further enacted, That it shall be law- Ten per cent. ful for the Directors of said Company to require payment subscriptions. of the sum of ten per centum cash assessment upon all subscriptions received of all subscribers, and the balance thereof at such times and in such portions and on such conditions as they shall deem to be necessary to complete the said road and telegraph line within the time in this act prescribed. Sixty days' previous notice shall be given Sixty days' preof the payments required, and of the time and place of payment, by publishing a notice, once a week, in one daily newspaper in each of the Cities of Boston, New York, Philadelphia and Chicago, and in case any stockholder shall neglect or refuse to pay, in pursuance of such notice, the stock held by such person shall be forfeited Forfeiture of absolutely to the use of the Company, and also any payment or payments that shall have been made on account thereof, subject to the condition that the Board of Directors may allow the redemption on such terms as they may prescribe.

stock.

State aid.

SEC. 17. And be it further enacted, That the said Com- Acceptance of pany is authorized to accept to its own use any grant, donation, loan, power, franchise, aid, or assistance which may be granted to or conferred upon said Company by the Congress of the United States, by the Legislature of any State, or by any corporation, person or persons; and said Corporation is authorized to hold and enjoy such grant, donation, loan, power, franchise, aid, or assistance to its own use for the purpose aforesaid.

State consent to be got.

Congress may alter, amend or repeal.

*SEC. 18. And be it further enacted, That said Northern Pacific Railroad Company shall obtain the consent of the Legislature of any State through which any portion of said railroad line may pass, previous to commencing the construction thereof; but said Company may have the right to put on Engineers and survey the route before obtaining the consent of the Legislature.

SEC. 19. And be it further enacted, That unless said Northern Pacific Railroad Company shall obtain bona fide subscriptions to the stock of said Company to the amount of two millions of dollars, with ten per centum paid within two years after the passage and approval of this act, it shall be null and void.

SEC. 20. And be it further enacted, That the better to accomplish the object of this act, namely: to promote the public interest and welfare by the construction of said railroad and telegraph line, and keeping the same in working order, and to secure to the Government at all times (but particularly in time of war) the use and benefits of the same for postal, military and other purposes, Congress may at any time, having due regard for the rights. of said "Northern Pacific Railroad Company," add to, alter, amend or repeal this act.

Approved July 2d, 1864.

*Consent of Minnesota and Wisconsin given in 1865.

AMENDMENTS TO CHARTER.

A RESOLUTION extending the time for the completion of the Union Pacific Railway, Eastern Division.

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the time for the completion of the first one hundred miles of railroad and telegraph line by the Leavenworth, Pawnee and Western Railroad Company (since called the “Union Pacific Railway Company, Eastern Division"), mentioned in the tenth section of the Charter of the Union Pacific Railroad Company, of July first, one thousand eight hundred and sixty-two, and in the fifth section of the amendment thereof of July second, one thousand eight hundred and sixty-four, be and the same is hereby extended until the twenty-seventh day of June, one thousand eight hundred and sixty-six; and that the time for completing each succeeding section of one hundred miles shall be reckoned from the said twenty-seventh day of June in said year.

SEC. 2. And be it further resolved, That the time for Extension of commencing and completing the Northern Pacific Rail- time two years. road, and all its several sections, is extended for the term

of two years.

Approved May 7th, 1866.

:0:

JOINT RESOLUTION extending the time for the completion of the Northern Pacific Railroad.

Be it resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That section eight of an act entitled "An act granting lands to

from July 2d, 1868.

aid in the construction of a railroad and telegraph line from Lake Superior to Puget Sound, on the Pacific coast," is hereby amended to read as follows:

That each and every grant, right, and privilege herein are so made and given to, and accepted by said Northern Pacific Railroad Company, to and upon the following conExtension of ditions, namely: That the said Company shall commence time two years the work on said road within two years from and after the second day of July, eighteen hundred and sixty-eight, One hundred and shall complete not less than one hundred miles per after July 24, year after the second year thereafter, and shall construct, equip, furnish, and complete the whole road by the fourth day of July, Anno Domini eighteen hundred and seventy

miles แ year

1872.

seven.

Approved July 1st, 1868.

:0:

Right to mortgage conferred.

JOINT RESOLUTION granting the consent of Congress provided for in section ten of the act incorporating the Northern Pacific Railroad Company, approved July second, eighteen hundred and sixty-four.

Be it resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the consent of the Congress of the United States is hereby given to the Northern Pacific Railroad Company to issue its bonds, and to secure the same by mortgage upon its railroad and its telegraph line, for the purpose of raising funds with which to construct said railroad and telegraph line between Lake Superior and Puget Sound, and also upon its branch to a point at or near Portland, Puget Sound Oregon; and the term "Puget Sound," as used here and in the act incorporating said Company, is hereby construed to mean all the waters connected with the Straits of Juan De Fuca within the territory of the United States.

defined.

Approved March 1st, 1869.

JOINT RESOLUTION granting right of way for the con-
struction of a railroad from a point at or near Portland,
Oregon, to a point west of the Cascale Mountains, in
Washington Territory.

from Portland to Pu

Be it resolved by the Senate and House of Representatives Branch of the United States of America in Congress assembled, That get Sound. the Northern Pacific Railroad Company be, and hereby is, authorized to extend its branch line from a point at or near Portland, Oregon, to some suitable point on Puget Sound to be determined by said Company, and also to connect the same with its main line west of the Cascade Mountains, in the Territory of Washington; said extension being subject to all the conditions and provisions, and said Company in respect thereto being entitled to all the rights and privileges, conferred by the act incorporating said Company, and all acts additional to and amendatory thereof; Provided, That said Company shall not No money or landed subsidy be entitled to any subsidy in money, bonds, or additional to this branch. lands of the United States in respect to said extension of its branch line as aforesaid, except such lands as may be included in the right of way on the line of such extension as it may be located: And provided further, That at least twenty-five miles of said extension shall be constructed before the second day of July, eighteen hundred and When seventy-one, and forty miles per year thereafter until the whole of said extension shall be completed.

Approved April 10th, 1869.

to be

constructed.

:0:

A RESOLUTION authorizing the Northern Pacific Railroad Company to issue its bonds for the construction of its road and to secure the same by mortgage, and for other purposes.

bonds.

Resolved by the Senate and House of Representatives Right to issue of the United States of America in Congress assembled, That the Northern Pacific Railroad Company be, and hereby is, authorized to issue its bonds to aid in the construction and equipment of its road, and to secure the same by mortgage on its property and rights of property of all

« ForrigeFortsett »