Page:United States Statutes at Large Volume 12.djvu/520

 490 THIRTY-SEVENTH CONGRESS. Sess. II. C11. 120. 1862. Benjamin F. Harding, of Oregon; William Bunn, junior, John Catlin, Levi Sterling, John Thompson, Elihu L. Phillips, Walter D. Mclndoe, T. B. Stoddard, E. H. Brodhead, A. H. Virgin, of Wisconsin; Charles Paine, Thomas A. Morris, David C. Branham, Samuel Hanna, Jonas Votaw, Jesse L. Williams, Isaac C. Elston, of Indiana; Thomas Swan, Chauncey Brooks, Edward Wilkins, of Maryland; Francis R. E. Cornell, David Blakely, A. D. Seward, Henry A. Swift, Dwight Woodbury, John McKusick, John R. Jones, of Minnesota; Joseph A. Gilmore, Charles W. Woodman, of New Hampshire; W. H. Grimes, J. C. Stone, Chester Thomas, John Kerr, Werter R. Davis, Luther C. Challiss, Josiah Miller, of Kansas; Gilbert C. Monell and Augustus Koontz, T. M. Marquette, William H. Taylor, Alvin Saunders, of Nebraska; John Evans, of Colorado; together with five commissioners to be appointed by the Secretary of the Interior, and all persons who shall or may be associated . with them, and their successors, are hereby created and erected into a Name ofwrpo- body corporate and politic in deed and in law, by the name, style, and ”“°" title of “The Union Pacific Railroad Company ; " and by that name shall have perpetual succession, and shall be able to sue and to be sued, plead and be impleaded, defend and be defended, in all courts of law and equity C•>¤¤¤¤°¤¤¤¤l· within the United States, and may make and have a common seal; and Power of cer- the said corporation is hereby authorized and empowered to lay out, P°.{.“°';{gm‘l;“°frau_ locate, construct, furnish, maintain, and enjoy a continuous railroad and ,-,,4 gud {,,,1,,. telegraph, with the appurtenances, from a point on the one hundredth K¤‘¤Ph· meridian of longitude west from Greenwich, between the south margin of the valley of the Republican River and the north margin of the valley of the Platte River, in the Territory of Nebraska, to the western boundary of Nevada Territory, upon the route and terms hereinafter provided, and is hereby vested with all the powers, privileges, and immunities necessary to carry into effect the purposes of this act as herein set forth. The Capital stock. capital stock of said company shall consist of one hundred thousand shares Shares. of one thousand dollars each, which shall be subscribed for and held in not more than two hundred shares by any one person, and shall be transferable in such manner as the by-laws of said corporation shall provide. B<3¤f•i ¤£ wm- The persons hercinbefore named, together with those to be appointed by ml°°’°°°l°' the Secretary of the Interior, are hereby constituted and appointed commissioners, and such body shall be called the Board of Commissioners of the Union Pacific Railroad and Telegraph Company, and twenty-five Quorum. shall constitute a quorum for the transaction of business. The first meet- First meeting. ing of said board shall be held at Chicago at such time as the commission- 1862, Cb_ 15.; ers from Illinois herein named shall appoint, not more than three nor less Post, p. 538. than one month after the passage of this act, notice of which shall be given by them to the other commissioners, by depositing a call thereof in the post office at Chicago, post paid, to their address at least forty days before said meeting, and also by publishing said notice in one daily newspaper in Organization. each of the cities of Chicago and Saint Louis. Said board shall organize boprtpoere ortho by the choice from its number of a president, secretary, and treasurer, and they shall require from said treasurer such bonds as may be deemed _ proper, and may from time to time increase the amount thereof as they b0§;§¤¢¢lDti0¤ may deem proper. It shall be the duty of said board of commissioners to ‘ open books, or cause books to be opened, at such times and in such principal cities in the United States as they or a quorum of them shall determine, to receive subscriptions to the capital stock of said corporation, and a cash payment of ten per centum on all subscriptions, and to receipt therefor. So soon as two thousand shares shall be in good faith subscribed for, and ten dollars per share actually paid into the treasury of the company, the said president and secretary of said board of commist_Fir§t mgeting snoners shall appoint a time and place for the first meeting of the sub-
 * w;‘L°°" °'“*° scnbers to the stock of said company, and shall give notice thereof in at

least one newspaper in each State in which subscription books have been