Page:United States Statutes at Large Volume 16.djvu/227

 FOR'I`Y—FIRST CONGRESS. Sess. II. Ch. 224, 225. 187 O. 193 directors, not less than five or more than nine in number, shall be held by Nambe,. of M_ the stockholders, at meetings to be called for that purpose, at which each motors. share of stock present in person or by proxy shall be entitled to one vote, Proxies. and the majority thereof shall elect. Sec. 5. And be it further enacted, That the general objects of such Objects0h0f_ corporation are, and are hereby declared to be, as follows: To promote poration. and encourage emigration to and establish settlements on the lands of said company in the San Louis Park, in the Territories of Colorado and New Mexico, and in connection therewith, to establish such agencies as it may deem desirable ; to purchase, hold, lease, sell, and mortgage any real estate situate in the San Louis Park in said Territories, or either of them, now owned or contracted for by any of the persons named in the first section of this act, with any co-tenant thereof, his or their heirs or assigns; to survey, lay out, and improve the same; to establish, maintain, and operate wagon roads to and upon its property; to construct and maintain a railroad and telegraph line from any point on lands of said company in the San Louis Park, to the nearest and most practicable point on either the Kansas Pacific railroad, the Union Pacific railroad, the Denver Branch railroad, or the Atchison, Topeka and Santa Fé railroad, and the said company, for the purpose of building and operating such railroad, shall have the right of way through the public lands of the United States from and between the points aforesaid, the said right of way being to the extent of two hundred feet on each side of said railroad line; and such corporation shall possess all the franchises necessary to enable it to build and operate such railroad for the transportation of freight and passengers, and to collect and receive compensation therefor; and the powers, privileges, and franchises conferred on corporations by and under the provisions of chapter eighteen of the revised statutes of Colorado, or of any and all amendments thereto, are hereby confirmed to and invested in said corporation, subject to said statutes for the purposes of this act: Provided, Pr¤vi¤<>· That this act shall not be construed to permit said company to acquire title to any other lands or real estate than such as is above mentioned. Sec. 6. And be itfurtber enacted, That such corporation may make and Gorpornticn dispose of its bonds or other obligations in such amounts, at such rates, Qgfgjsgézrad and on such terms as it may deem most for its interest, for the purpose of by mortgage; borrowing money for the purposes aforesaid, and may secure the same by a mortgage upon all or any part of its property and all its franchises, and may make the same and the interest thereon payable at such place or places as it may deem proper, and may hold and transfer such real estate aforesaid and personal property as may be necessary for the carrying out of its general purposes, and may issue its stock and bonds for property may issue and again exchange its property for its bonds or stock, and may convert “°"k· any of its obligations, at the option of the holders, into stock of the company without further action of the stockholders. Sec. 7. And be it further enacted, That this act shall take effect im· mj\°*;,·'h;=¤ *°d mediately, and shall at all times be subject to amendment or repeal by mbiiuigécggo Congress, and said corporation shall be subject to the general laws of said State laws. Territories, and the States formed therein, operating upon all corporations equally. Approved, July 8, 1870. CHAP. CCXXV.-An Act to define the Duties ey" Pension Agents, to prescribe the July 8, 1870. Manner of paying Pensions, and for other Purposes. jg-yl, 6h_ U5_ ost,. 52 . Be it enacted by the Senate and House of Representatives of the United Vol. xjiii. pl 5. States of America in Congress assembled, That within fifteen days imme- tO1g33m)" *8**1;;*, . t y mm dmtely preceding the fourth day of March, June, beptemberaand De- quarterly to oember in each year, the several agents for the payment of pensions. shall each pensioner prepare a quarterly voucher for each and every person whose pension IS W ‘°’° P°“s‘°“ vox., xv:. Pun --13