Page:United States Statutes at Large Volume 76.djvu/190

 PUBLIC LAW 87-527-JULY 10, 1962

142 14 USC 631-654.

'

[76 STAT.

(&) 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.

,,

Public Law 87-527 Jvly 10, 1962 [S. 3025]

T e x a s and Pacific Railway Company.

Acquisition of stock from other carriers. 24 Stat. 379. 49 USC 1 ef seq. Capital stock Increase.

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.

Be it enacted by the Senate and House of Representatives of the 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 Company shall have the right and authority, 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 Company, heretofore fixed by its board of directors pursuant to the provisions 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 provisions 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 company's 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. 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.

�