Monopolies -- United States; Railroads and state -- United States
3. Out of the said avails and proceeds to pay unto the parties of the
second part a reasonable sum as compensation for their service, as such
trustees, for executing and performing the terms and conditions of this
agreement, which compensation shall not exceed $3,000 per annum to each
and every one of the parties of the second part.
4. To hold all the rest and residue of the said proceeds and avails for
the use and benefit of such of the several persons holding and owning
shares in the capital stock of the Credit Mobilier of America on the day
of the date hereof, in proportion to the number of shares which said
stockholders now severally hold and own, and for the use and benefit of
such of the assignees and holders of such shares of stock at the times
herein set forth, for the distribution of said residue and remainder of
said avails and proceeds, who shall comply with the provisions,
conditions, and limitations herein contained, which are on their part to
be complied with.
5. To pay over on or before the first Wednesday of June and September
each year, or within thirty days thereafter, his just share and
proportion of the residue and remainder of the said proceeds and avails
as shall be justly estimated by the said trustees to have been made and
earned as net profit on said contract, during the preceding six months,
to each shareholder only in said Credit Mobilier of America, who being a
stockholder in the Union Pacific railroad shall have made and executed
his power of attorney or proxy, irrevocable, to said several parties of
the second part, their survivors and successors, empowering them, the
said parties of the second part, to vote upon at least six-tenths of all
the stock owned by said shareholders of the Credit Mobilier of America,
in the capital stock of the Union Pacific railroad company, on the day
of the date hereof, and six-tenths of any stock in said Union Pacific
railroad company he may have received a dividend, or otherwise, because
or by virtue of having been a stockholder in said Credit Mobilier of
America, or which may appertain to any shares in said Union Pacific
railroad company, which had been so assigned to him at the time or times
of the distribution of the said profits as herein provided; and this
trust is made and declared upon the express condition and limitation
that it shall not enure in any manner or degree to the use or benefit of
any stockholder of the Credit Mobilier of America who shall neglect or
refuse to execute and deliver unto the said parties of the second part
his proxy or power of attorney, in the manner and for the purpose
hereinbefore provided, or who shall in any way, or by any proceeding,
knowingly hinder, delay, or interfere with any execution or performance
of the trust and conditions herein declared and set forth.
And the above transfer and conveyance of said contract is made upon
these further trusts and conditions, to-wit:--
Public-domain text, read in full here on John Shaqi.
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