The Laws of Texas, 1822-1897 Volume 7 Page: 1,414
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714
Laws of the State of Texas.
CHAPTER CCLVIII.
An Act to incorporate the Texas Well and Irrigating Company.
Section 1. Be it enacted by th Legislature of the State
of Texas, That Elias Smith and E. C. Smith, of Galveston;
J. B. Hurd and Geo. W. Honey, of Austin; F. E. Leason, of
Wisconsin; and A. M. Miller, of St. Charles, Missouri, their
associates and successors, are hereby created and established
a body corporate and politic, under the name and style of the
"Texas Well and Irrigating Company;" with capacity in said
corporate name to make contracts for boring wells, and irrigating
and draining lands upon the main land of Texas; to
hold, buy and sell property; to contract and execute deeds of
trust, deeds and mortgages; to have succession and a common
seal; to make a constitution and by-laws for the government
and regulation of its affairs; to sue and be sued, plead
and be impleaded; to declare dividends and make divisions of
property, and to do and perform all such things as may be
necessary and proper for, and incident to, the fulfillment of
its obligations and maintenance of its rights under this enactment,
not inconsistent with the laws of the State.
Sec. 2. The capital stock of the company shall be ten
thousand dollars ($10,000) in material, working apparatus and
cash, in shares of twenty-five dollars ($25) each, with power
and privilege of increasing the same to forty thousand dollars
($40,000).
Sec. 3. The control and government of the affairs of said
company shall be vested in a board of not less than three
nor more than five directors, who shall be elected annually,
at such time as may be designated.
Sec. 4. The stockholders shall elect from their own number
a president, who shall have power to appoint an engineer,
and employ and pay the necessary working force for the
operations of the company.
Sec. 5. Stockholders only shall be eligible as directors
in the company, and a majority, at any regular or called
meeting, or otherwise voting, shall constitute a quorum
for business.
Sec. 6. All instruments of writing executed by the(1414)
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1822-1897 Volume 7, book, 1898; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth6732/m1/1416/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .