Chapter CXXXII. supplementary to an Act entitled “An Act to incorporate the Texas Pacific Railroad Company, and in aid in the Construction of its Road, and for other Purposes,” approved March third, eighteen hundred and seventy-one
1,370 words·~6 min read·
/statutes-at-large/vol-17/chapter-cxxxii-280357·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. CXXXII.— An Act supplementary to an Act entitled “An Act to incorporate the Texas Pacific Railroad Company, and in aid in the Construction of its Road, and for other Purposes,” approved March third, eighteen hundred and seventy-one.May 2, 1872. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* That1871, ch. 122.Vol. xvi. p. 573.The Texas and Pacific railway company to have ah the rights,&c., of the Texas Pacific railroad company;may issue construction and land bonds not exceeding, &c.Mortgage may include what, and to be subject to what conditions. the name, style, and title of the Texas Pacific Railroad Company shall hereafter be “The Texas and Pacific Railway Company;” and the said The Texas and Pacific Railway Company shall have, possess, and enjoy all the rights, privileges, and franchises heretofore conferred upon the said Texas Pacific Railroad Company.
Sec. 2. That the said The Texas and Pacific Railway Company shall have power and authority to issue the construction and land bonds authorized by the eleventh section of said act of incorporation, for such amounts, not exceeding forty thousand dollars per mile of said road, of construction bonds, as said company may deem needful to provide for the construction and equipment of its fine, and to include in the mortgage or mortgages to secure said construction bonds all or any portion of the lands granted in aid of the construction of said railroad; and in the mortgage or mortgages to secure said land bonds, any portion of said lands not so used to secure the construction bonds aforesaid; and all or any portion of the lands acquired by the terms of consolidation lawfully authorized by the fourth section of said act of March third, eighteen hundred and seventy-one, with any railroad company or companies to whom grants of land may have been made, or may hereafter be made, by any congressional, State, or territorial authority, or who may have purchased the same previous to any such arrangement or consolidation, and within the time limited for the completion of the road, and all such lands of every description shall be subject to all limitations and conditions now by law existing in relation thereto, and as modified by this act; and this act shall not be construed to revive, enlarge, extend,No land grant revived, &c., by this act. or create any land grant whatever, beyond that heretofore granted by Congress, and which shall duly inure to said company upon compliance with the terms of this act in relation to the times fixed for completion of said railway, and all such mortgages shall be subject to all the conditions and limitations by law existing under this act ana the acts to which it is supplementary in respect to such lands, and shall not be held to vest any title in the mortgage or create any lien on such lands, other than such companyAmount of land bonds not to exceed, &c. is or may become lawfully entitled to vest or create thereunder; but the amount of said land bonds shall not exceed two and a half dollars per acre for all lands covered by the mortgage or mortgages securing the same. 60FORTY-SECOND CONGRESS.
Sess. II. Ch. 132. 1872. Sec. 3. ThatMortgages to be filed, &c., in the Department of the Interior, and this to be evidence of their execution.Proceeds of bonds and stock, how only to be applied. all the mortgages made and executed by said railroad company shall be filed and recorded in the Department of the Interior, which shall be a sufficient evidence of their legal execution: *Provided,* That the aforesaid bonds and the authorized capital stock, or the proceeds thereof, shall be applied only for the purpose of securing the construction, operation, and equipment of the contemplated railroad line, under lawful contracts with such parties, and on such terms and conditions as said company may deem needful, and for the further purpose of purchase, consolidation, completion, equipment, and operating of the other roads, as contemplated by said act and specified therein, being a part of the aforesaid railroad line, and for the expenses necessary and incident to the works authorized thereby:Standard of road and equipmenExisting liens not affected. *Provided, however,* That said road and its equipment shall be of the standard heretofore required by the United States government for the existing Pacific railway lines: *And provided further,* That said mortgage or mortgages shall in nowise impair or affect any lien existing on the property of said company or companies at or before the time of such consolidation.
Sec. 4. ThatThe iron or steel rails to be made from American ore. said road shall be constructed of iron or steel rails manufactured from American ore, except such as may have been contracted for before consolidation by any railroad company which may be purchased by or consolidated with this company. Sec. 5. ThatConstruction of road to be commenced where, and to be continued in what direction. the said Texas and Pacific Railway Company shall commence the construction of its road at or near Marshall, Texas, and proceed with its construction, under the original act and this supplement, or in pursuance of the authority derived from any consolidation as aforesaid, westerly from a point near Marshall, and towards San Diego, in the State of California, on the line authorized by the original act, and so prosecute the200 miles to be in running order in two years, and not less than 100 miles a year afterwards. same as to have at least one hundred consecutive miles of railroad from said point complete and in running order within two years after the passage of this act; and so continue to construct, each year thereafter, a sufficient number of miles, not less than one hundred, to secure the completion of the whole line, from the aforesaidTime of completion.Gauge.Road from San Diego eastward, when and how to be built. point on the eastern boundary of the State of Texas to the bay of San Diego, in the State of California, as aforesaid. within ten years after the passage of this act; and said road from Marshall, Texas, throughout the length thereof, shall he of uniform gauge:Road between Marshall and Shreveport, &c. *Provided, however,* That the said company shall commence the construction of said road from San Diego eastward within one year from the passage of this act, and construct not less than ten miles before the expiration of the second year, and, after the second year, not less than twenty-five miles per annum in continuous line thereafter between San Diego and the Colorado river until the junction is formed with the line from the east at the latter point or east thereof; and upon failure to so complete it, Congress may adopt such measures as it may deem necessary and proper to secure its speedy completion; and it shall also be lawful for said company to commence and prosecute the construction of its line from any other point or points on its line; but nothing in this act contained shall be so construed as to authorize the grant of any additional lands or subsidy, of any nature or kind whatsoever, on the part of the government of the United States: *Provided,* That said Texas and Pacific Railway Company shall be, and it is hereby, authorized and required to construct, maintain, control, and operate a road between Marshall, Texas, and Shreveport, Louisiana, or control and operate any existing road between said points, of the same gauge as the said Texas and Pacific railroad; and that all roads terminating at Shreveport shall have the right to make the same running connections, and shall be entitled to the same privileges, for the transaction of business in connection with the said Texas and Pacific railway, as are granted to roads intersecting therewith: *Provided further,* That nothing herein shall be construed as changing the terminus of said Texas and Pacific railway from Marshall as provided in the original act.
FORTY-SECOND CONGRESS. Sess. II. Ch. 132, 139, 140. 1872.61 Sec. 6. ThatRepealing clause. all acts or parts of acts inconsistent with this supplement be, and the same are are hereby, repealed. Approved, May 2, 1872.