This corporation became the successor by consolidation to the Southern Pacilic Railroad Company of Texas. the Memphis. Ei Paso and Pacific Railroad Company. and the Southern Transcontinental Railway Company. corporations created by the State of Texas. and secured to itself valuable franchises and laud grants in aid of its object. derived from the liberal legislation of that State. This legislation. in the act of May 24. 1871. recites that "the speedy construction of said railway through the State of Texas would greatly enhance the value of the public lands. develop the mineral resources &f the State. and give protection and security to the frontier by expelling therefrom the bands of hostile Indians by whom the western settlements are now continually scourged." and declares the gtants to be made "in order to secure and promote the speedy construction of a railway through the State of Texas to the Pacific Ocean and thereby secure the incidental advantages of cheap transportation for immigrants to the w9stern and unsettled portions of the State. facility of communication between the eastern and western boundaries. the settlement and enhancement in value of the now unoccupied public domain. and the development of the great mineral. agricultural. and stockraising resources of the State." Under the authority and encouragement of this legislation. State and national. the Texas and Pacific Railway Company has acquired and constructed a railway extending from Shreveport in Louisiana to Fort Worth. and from Marshall to Texarkana. and Texarkana to Sherman. making a total length of main track of 444 miles. The conKtruction and equipment of this road. icluding. however. all the expeaditures forsurvey andlocation of .457 miles of line west from Fort Wortl. and for construction work and material on line in California and between Sherman and Fort Worth. represenit a cost of 626. 0.239.61. of which 67.016.500 is in capital stock an the remainder in mortgage bonds.
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immigrants