Abandoned railroad bridge over the Caddo River at Jefferson, Texas. 

CHAPTER XLIIT.

An Act to incorporate the Lake City Railway Company and to aid the Construction of the said Railway.

Section 1. Be it enacted by the Legislature of the State of Texas, That Wm. M. Harrison, W. Q. Bateman, L. A. Ellis, P. M. Graham, Julius Ney, M. Dopplemayer, Thos. B. Goyne, J. H. Bennis, and James Arbuckle, their associates and successors, are hereby created and established a body corporate and politic, under the name and title of "The Lake City Railway Company," and the said corporation is hereby invested with the right and power to contract and be contracted with ; to sue and be sued ; to plead and be impleaded; buy and sell real and personal property for the use of and connected with the construction and maintenance of the said railway, and to do and perform all such acts, and the adoption of by-laws, as may be necessary and proper to effect the objects of this mcorpora- tion, not inconsistent with the laws and Constitution of this State.

Sec. 2. That said corporation is hereby invested with the authority, right and power to locate, construct and maintain a railway of such gauge as will conform to the gauge of the connected lines from without the State, from the city of Jefferson, in Marion county, to the east line of the State of Texas, so as to connect with any line of railway which may be constructed to connect said city with the Mississippi river.

Sec. 3. That the capital stock of said company may be in any amount that the stockholders thereof or a majority of the same may determine, not exceeding one million of dollars, to be divided in shares of one hundred dollars each.

Sec. 4. That the persons named in the first section of this act, or a majority of them and their associates, are hereby appointed commissioners to open books, and to receive subscriptions to the stock of said company ; and whenever said company shall procure the subscription to said stock in the sum of fifty thousand dollars, and have five per cent, paid thereon, said stockholders may hold an election for a president, vice-president and five directors to manage and control the affairs of said company in accordance with this act, and such by-laws as the stockholders may adopt, which said officers shall hold their offices for the term of one [year] and until their successors are elected and qualified, unless removed as the said by-laws may direct.

Sec. 5. Before any such election for the officers of said company, notice by publication shall be given for not? less than two weeks in a newspaper published in said city, and each share of stock, upon which all dues and installments have been paid, shall be entitled to one vote, either by the person of the owner or by proxy made in writing, signed by such owner. The president and vice-president shall be ex officio directors, and said officers and a majority of the directors shall form a quorum for the transaction of business, and may appoint a secretary, treasurer, and such other officers and agents as may by them be deemed necessary, and require from them such bonds with sureties as they may require for the faithful discharge of their respective duties.

Sec. 6. That the right of way is hereby granted to said company to the extent of two hundred feet in width, where the same may pass over any of the public domain, including all lands necessary for stations, work shops, switches, side tracks, turntables and water tanks, and when the same shall pass through lands of private persons the right of way may be secured in accordance with the provisions of the laws of this State.

Sec. 7. The office or domicile of said company shall be located at said city of Jefferson, and suits may be prosecuted by the president or vice-president of said company, or maintained against said company by service on either of said officers.

Sec. 8. That said company shall construct said railroad to the said east line of this State within at least eighteen months from the time they may be able to effect a suitable connection with a railway that will complete a connection to the Mississippi river, or forfeit all rights under this charter.

Sec. 9. That said railway company shall be entitled to have and receive from the State of Texas sixteen sections of land containing six hundred and forty acres each, for each and every mile of constructed road. And when the Governor shall be informed that a section of ten miles or more of said railway shall have been completed, he shall at once appoint some competent person to inspect the same. The person so appointed shall without delay make an examination of the railway and make report whether or not the same has been constructed in accordance with the terms of this charter ; and if said report shall be in the affirmation, the Governor shall immediately notify the Commissioner of the General Land Office, whose duty it shall be to issue and deliver to said company on demand sixteen certificates for land for six hundred and forty acres each for each and every mile of railroad so completed, which said certificates may be located and patented on any of the public domain of this State according to the general law on the principle of alternate sections ; provided, the State shall not be in anywise liable for any deficiency in public domain.

Sec. 10. That the said railway company shall be authorized to establish such reasonable charges for passengers and freight as it may deem proper, not to exceed the rate established by the general law of the State; and the said railway company shall be subject to such general laws as now exist or that may hereafter be enacted relating to railroads.

Approved May 2, 1874.

Laws Passed by the ... Legislature of the State of Texas‎ - Page 83

by Texas- 1874

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