the same had been done by officers elected in accordance with the charter of said city heretofore in force.

SEC. 196. All ordinances, regulations or resolutions, now in force in the city of Corpus Christi, and not in conflict with this act, shall remain in full force until altered, amended, modified or repealed by the city council. After this act shall take effect, and an ordinance passed by the mayor and board of aldermen of the city of Corpus Christi on the 15th day of April, A. D. 1858, entitled "An ordinance supplementary, and consolidating all ordinances heretofore passed, relative to the opening of the ship channel between Corpus Christi and Aransas Bay," and an ordinance passed on the 15th day of June, A. D. 1872, relative to the same subject matter, and re-enacting said first recited ordinance, and an ordinance passed on the 12th day of February, A. D. 1873, entitled "An ordinance to re-enact and to validate certain ordinances heretofore adopted in relation to the ship channel," the said ordinances are hereby declared and recognized as valid and binding ordinances and contracts between said city and Morris & Cummings, who have acted under and availed themselves of their provisions; and the bonds issued under said first recited ordinance are hereby declared valid and binding as a lien upon, and to be satisfied out of the tolls and revenues arising from the said ship channel, but not otherwise-any ordinance, act or resolution of any future city council to the contrary notwithstanding; and compliance with said contract and payment of said tolls may be enforced by any person holding said bonds, in any of the courts of the State having jurisdiction of the amount, by any compulsory process known to the law. And all grants, powers, rights, privileges and franchises, and property of every nature and kind whatsoever, heretofore had and possessed, or vested in the city of Corpus Christi, and not expressly repealed or modified by this act and its provisions, shall continue to rest in, and shall remain and inure to, said city under the present act; and the provisions of the act of the Legislature incorporating the city of Corpus Christi, approved February 16th, A. D. 1852, and of the act amendatory thereof, approved February 11th, A. D. 1854, and of the act supplementary and amendatory of the original act of incorporation, approved February 11th, A. D. 1860, so far as not contrary to or in conflict with this act, shall remain in full force.

SEC. 197. That this act shall take effect and be in force from and after the first day of June, A. D. 1873. Approved May 22d, 1873.

CHAPTER CXCIV.

An Act to incorporate the Sherman, Wichita and Panhandle Railway, and to grant Land to aid in the construction thereof.

SECTION 1. Be it enacted by the Legislature of the State of Texas, That J. H. Tuttie, John M. Wiggins, G. Y. Gray, J. S. Porter, J. H. Brown, J. P. Douglas, J. D. Woods, R. G. Hall, Alexander Cox, F. M. Rogers, C. N. White, Wm. Crenshaw, Geo. W. Diamond, A. D. Tinsley, John Vinson, J. M. Hobbs, E. C. Peery, Wm. Hudson, J. H. Boggess, Wm. H. Grigsby, T. C. Bass, A. S. Johnson, L. Kelley, Wm. McClain and W. D. Ligon, be and they are hereby appointed commissioners to open books and receive subscriptions to the capital stock of a corporation hereby created, to be styled the "Sherman, Wichita and Panhandle Railway Company;" that the majority of said commissioners shall constitute a board for the transaction of business, and said commissioners shall hold meetings, from time to time, until directors shall be elected and enter upon the duties of their office, as hereinafter pro vided.

SEC. 2. That at the time of subscribing to the stock of this company, five per centum of the amount subscribed shall be paid in, unless otherwise provided by the commissioners or directors.

SEC. 3. That the subscribers to the capital stock of this company are hereby created and established a body corporate and politic, under the name and style of the "Sherman, Wichita and Panhandle Railway Company:" with capacity to contract; to sue and be sued; to plead and be impleaded; to have succession and a common seal; to grant and receive; to hold and alienate real estate; to make and enforce by-laws, and to do and perform all things necessary and proper to maintain their rights under this act.

SEC. 4. The capital stock of this company shall be one million of dollars, to be increased by a vote of two-thirds

of the stockholders representing two-thirds of the stock, to an amount not exceeding five millions of dollars, to be divided into shares of one hundred dollars each, each share to entitle the holder and owner to one vote at all meetings or elections of the stockholders, and a majority of the stock shall govern, except in cases otherwise specially provided for; the shares of the stock shall be deemed personal property, transferable only on the books of the company.

SEC. 5. The direction and control of said corporation and its affairs shall be vested in a board of not less than seven nor more than nine directors, to be chosen by the stockholders at an annual meeting, the first of which shall be held at the city of Sherman, whenever one hundred thousand dollars shall have been subscribed, and five per cent. thereof paid in to said commissioners.

SEC. 6. A majority of the directors shall constitute a quorum to do business, and at their first meeting they shall elect one of their number president, and one vicepresident; the board shall appoint a secretary and treasurer and other officers requisite to carry on the business of the company.

SEC. 7. The said company, when duly organized, shall be, and is hereby, invested with the right of locating, constructing, owning, operating and maintaining a railway, commencing at or near Colbert's Ferry, on Red river, in Grayson county, Texas; thence to the city of Sherman, thence to the town of Whitesboro, thence to the town of Gainesville, in Cooke county; thence in a westerly or northwesterly direction, as near as practicable, to the point where the line of the Atlantic and Pacific Railway crosses the western boundary line of the State of Texas; provided, that freight and passenger depots of said road shall be established within one half mile of the geographical center of the city of Sherman, and towns of Whitesboro and Gainesville; provided, further, that if the line of said road shall run within five miles of any county seat established prior to the location of said road, then said road shall be built to, and depots established, within one-half mile of the center of said town; provided, said town furnish said road right of way and depot grounds.

SEC. 8. Any agreement in writing to subscribe for stock may be enforced according to the terms of subscrip

tion, and unless payment be made according to the terms of subscription, the directors, after thirty days' notice, may sell said delinquent stock, and transfer such to the purchaser.

SEC. 9. It shall be lawful for said company to enter upon, purchase or otherwise receive, take, hold or obtain, any lands for the purpose of locating, constructing, and maintaining said railway, with all the necessary depots, turnouts, sidings, extensions, and buildings connected with said railway. When land cannot be obtained by agreement with the owners thereof, said company shall pay such compensation as shall be determined in the manner prescribed by the general railroad laws of this State; provided, that the land taken for this railway shall not exceed two hundred feet in width, unless for depots and buildings.

SEC. 10. That the right of way through the public lands of the State along the line of said road be and the same is hereby granted to said company, and the authority is hereby conferred on said company to take from the public lands adjacent to said road, stone, earth, timber, and other material for the construction thereof; and the right of way is hereby granted to said company to the ex tent of two hundred feet in width when it passes over public lands, including all lands necessary for stations, workshops, switches, side tracks, turn tables and water tanks at any points along said main line.

SEC. 11. That the said railway company shall have the right to construct their road across all public highways and all railroads that it may be necessary to cross to establish said railway; and if said railway crosses any stream that is navigable by steam, it shall cross in such manner as not to impede navigation.

SEC. 12. That said company shall have the power to borrow money, issue bonds, with or without mortgage; provided, it is done in conformity to a vote of two-thirds of the directors, sanctioned by a majority of the stockholders in interest, at a regular meeting, or at a called meeting, of which thirty days' public notice has been given, and generally this company shall have all the powers requisite to carry into successful effect the objects of this corporation.

SEC. 13. That the first meeting of this company shall be called at the city of Sherman whenever one hundred

thousand dollars of the capital stock shall have been subscribed, by giving thirty days' public notice in at least two newspapers published in the counties through which this railway is to pass; and the stockholders shall then proceed to elect directors, who shall hold office until the annual election, which shall take place at the company's principal office, in the city of Sherman, on the first Tuesday in December in each year. Should a majority of the stock be represented, the election shall proceed; if not, the directors shall appoint another day within thirty days thereafter, and an election on that day shall be valid. Directors elected under the provisions hereof shall hold their office for one year, or until their successors be chosen and qualified. No person shall be a director who is not the owner of at least ten shares of the stock of this company.

SEC. 14. This charter shall remain in force for the period of sixty years; and the company shall be entitled to receive, and there is hereby granted to said company, sixteen sections of land for each and every mile of railroad completed on said line; and whenever the Governor shall be informed that ten miles of said road shall have been completed, he shall appoint a skillful engineer to inspect the same; and if the report of the inspector shall be favorable, the Governor shall immediately notify the Commissioner of the General Land Office, whose duty it shall be immediately to issue to said company sixteen land certificates, of six hundred and forty acres each, for each and every mile of road completed, and so on for every additional ten miles when completed, which certificates shall be located, surveyed and patented, according to the provisions of the general railroad law of this State, on the principle of alternate sections, the even sections being reserved to the school fund; provided, that each succeeding section of ten miles shall be inspected in like manner as provided in this section for the first ten miles; provided further, that said company shall not have the right to sell, rent, lease, or consolidate with any parallel or competing railroads in this State, and a violation of this provision shall work a forfeiture of this charter; and that in no case shall the State be in any way liable for deficiency of vacant domain; and the said corporation shall be subject to all laws that are now in force and may hereafter be enacted by the Legislature, regulating railroads and railroad companies.