mm"' ^ Mexico ill v*y4" wfeklnK*, iH-ffk a' >;¦* , m 5lk §@aiff^ M 3 _ m^MX^^^^^^ THE w\ tmm ^miu ®myM%. PEOSPECTTJS, CHARTER AND BY-LAWS, AND GRANTS FROM MEXICO. NEW YOKE : WM. C. BBYANT & CO., PEINTEES, 4:1 NASSAU STEEET, COB. LIBEETT. 1864. THE MEXICAN PACIFIC COMPANY. CAPITAL, $10,000,000. 100,000 SHARES OF $IOO EACH. 25,000 Shares Reserved in the Treasury. .....#¦.¦. OFFICE, TONTINE BUILDING, 88 Wall Street. NEW YORK. THE msRWAn wiifii ®iiww. i J. EDGAR THOMSON, President Pennsylvania RR. Co., Philadelphia. EDWARD L. PLUMB, . . . late of TJ. S. Legation, Mexico. FRANCIS SKIDDY, .... 101 Wall Street, New York. HEZRON A. JOHNSON, of H. A. Johnson & Co., 50 Wall St., New York. GEORGE J. FORREST, of Frost & Forrest, 21 Nassau Street, New York. ROBERT D. CULLEN, . . . . . . . . London. J. P. GIRAUD FOSTER, of Foster & Thomson, 69 Wall St., New York. E. JUDSON HAWLEY, .... 41 Broad Street, New York. HENRY A. SMYTHE, of Smythe, Sprague & Cooper, 26 Park Place, N. Y. PRESIDENT. EDWARD L. PLUMB. YJCE-PREStDEST. GEORGE J. FORREST. TREASURER. THEODORE CRANE, President New York Warehouse & Security Company, SECRETARY. JAMES S. MACKIE, Of the State Department, Washington, tBQttKBYl) Th9 Mexican Pacific Company is organized under a special Charter from the State of Pennsylvania. This Charter is entirely free from personal liability, and is of unusual scope, embracing Mining, Railroad and Steamship privileges of the most ample character. A copy of the Charter and By-laws of the Company will be found annexed hereto. The object of the Company is the prosecution of opera tions on the Pacific Coast of Mexico, under certain Grants which it holds fronTthe Mexican Government, covering Mineral rights to 13 51 square miles of land, and embrac ing valuable corporate powers and franchises for Mining, Navigation; and Railroad purposes, and the general deve lopment of the Mineral Territory conceded to the Com pany. Surveys which have been made by a Scientific and Mining Corps sent out from this country for that purpose, have demonstrated that the region to which the Grants of the Company apply, is one of the richest Mineral re gions not only of Mexico but in the world, and that the Company will hold, so soon as its Grants shall be fully located and developed, a Mineral Property which for extent, richness, and value, has probably never before been equalled by the possessions of any single company. In particular, these examinations have developed the existence in this part of Mexico, and within the territory to which the Company's grants apply, of a new Copper region rivalling in extent and richness the famous Copper district of Chile, and capable of equal returns. In ease of access, facilities for working, cheapness of labor and supplies, and means of transportation and ex port, this new Mexican district possesses great advan tages over that of Chile, and it is believed that within a very limited period, under the developments ' which will take place through ihe operations of this Com pany, the exports from it of Copper alone can be made to equal those of Chile, which for many years; past have exceeded $10,000,000 per annum. The Ores of the region to which the Grants of the Com pany apply are, however, not alone rich in Copper, but also in Silver, and in this respect there is every reason to believe that this district will prove as rich as that of Washoe. Ores brought home by the surveying party yielded, besides thirteen to forty-eight per cent, of Copper, from $720 to $3,615 per ton of Silver, and others, besides twenty-five to forty per cent, of Copper, gave from $393 to $1,447 per ton of Silver. It is unnecessary to say, that a Mineral Property so vast in' extent as that acquired by this Company under its Grants, located in a region so rich as this, must be very valuable. The Company has the right to export ores free of duty, as also to import all machinery, utensils, materials of construction and equipments for the works of the Mines, and for the necessary means of transport, free of duty. Vessels loading with the products of the Mines are also exempted from tonnage dues, and the mining tax is limited to twenty-five cents per ton. The location of the Company's grants is in the States of Guerrero, Michoacan, and Colima, which lie on the Pacific Coast of Mexico, and have a sea board of over four hundred miles in extent, embracing the fine harbors of Acapulco, Sihuatanejo, and Manzanillo. Acapulco is but fifteen days from New York, with communication three times a month by the Pacific Mail Company's steamers. A new port will probably, however, be opened under the auspices of the Company, which will render access to the Mineral district still more practicable. It is the design of the Company, while prosecuting mining operations upon such mines as may be selected for that purpose, to hold the greater portion of its prop erty for future lease or sale to other Companies, and from this source very large returns will undoubtedly be made. The working operations of the Company will be con- 2 10 fined at first to one or two of the most favorably located of the Silver-bearing Copper mines, and all ores will be shipped to the United States or England for reduction. This is permitted by the favorable situation of the Com pany's property, and in this manner the development of the mines will take place in the safest way, and without the expense attending the erection of reduction establish ments. At the same time, the most thorough examination will be prosecuted of the entire region to which the_ Com pany's grants apply, and very careful selections will be made of the most desirable mineral properties that can be found within the States named in the Grants, which will be held for future development, or sale to other Companies. By this means it is not doubted that the operations of another year, with the ample capital which will now be placed at the Company's disposal, will give to the stock of the Company a value far exceeding its par. A copy of the Grants of the Company, and documents connected therewith, is annexed hereto. Attention is also called to the annexed letter from the Mexican Minister. Furl her information can be procured on application at the office of the Company, Tontine Building, No. 88 Wall street, New York. E. L. PLUMB, President. LETTER MEXICAN MINISTER 13 Office of the Mexican Pacific Company, ) Tontine Building, 88 Wall Street, } New York, March 18th, 1864. J To His Excellency, Senok Dw. Matias Romeeo, Envoy Extraordinary and Minister Plenipotentiary of the Republic of Mexico, Washington : Dear Sir, — The time has arrived when the serious attention of American capitalists is being turned towards the attractive field for enterprise, with means, presented by the vast mineral wealth of Mexico. This has led a large number of gentlemen to manifest a de sire to become interested in the grants held by this Company in that country. For their information, I beg to take the liberty of enquiring of you, as the official representative in this country of the Mexican Government : 1st. Whether the Grants held by this Company will at all times be recognized and respected by the authorities of the Re public. 2d. Whether any other similar grants have ever been con ceded by the Mexican Government. 3d. As to the mineral richness of the States to which these grants apply, and — 4th. As to the desire of the Mexican Government to have American capitalists take part in the development of the re sources of that country. A reply at your earliest convenience is respectfully solicited. I have the honor to be, sir, Very respectfully, Your most obdt, svt., E. L. Plumb, President 14 Mexican Legation [Translation.] IN THE United States of America. Washington, March 24th, 1864. Mr. Edward Lee Plume, President of the Mexican Pacific Company, 88 Wall Street, New York: Dear Sir, — I have received the letter which, under date of the 18th instant, you have addressed to me, in which you inform me that the serious attention of North American capitalists is now being turned towards the favorable field for enterprise presented by the vast mineral wealth of Mexico, and that this has led a large number of persons to manifest a desire to become inter ested in the concessions that the Company of which you are President, holds from the Mexican Government, with reference to which, you make of me four inquiries, that I proceed to ans wer in the order they are made : 1st. The concessions held by the Company which you repre sent, will, of course, be recognized and respected by the au thorities of the Republic, because the Decrees granting said concessions, are in the nature of laws, which all of the authori ties of the Republic must respect and obey. 2d. I have no knowledge of any privileges similar to those possessed by your Company, having ever been granjied to any other Company by the Mexican Government. 3d. It would be necessary to enter into many details, im proper for such a letter as this, in order to give even a slight idea of the mineral richness of the States that are compre hended in your concessions. It must suffice, therefore, for me to say, that among all of the rich States of the Mexican Con federation, the State of Guerrero, is considered, in Mexico, to be one of the richest, although, perhaps, up to the present time, it has been the least developed. 15 4th. The Mexican Government, which desires above all things, the development of the vast material resources of the Republic, considers it one of its first duties to favor the estab lishment of enterprises both by natives and by foreigners, which have for their object, to accomplish this important result. It being, on the other hand, the policy of the Mexican Gov ernment, to strengthen and draw closer the commercial rela tions of the Mexican Republic with the United States, it will see with particular satisfaction, the citizens of this country, take part in Mexican enterprises, and contribute, with their industry and their capital, to develope the great sources of wealth of that republic, to the mutual benefit of both nations. I am, sir, very truly, Your obedient servant, (Signed.) M, Romero, CHARTER. AN ACT TO INCORPORATE THE MEXICAN PACIFIC COMPANY. Section 1. — Be it enacted by ifie Senate and House of Repre sentatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same : That George F. Allen, William R. Hanson, Samuel J. Beals, Matthew Newkirk, J. Nevin Pumrot, William Gaul, Samuel A. Lewis, James J. Duncan, Theodore Cuyler, Isaac Leech, Jr., John Tucker, Strickland Kneass, Thomas C. Garrett, George L. Ward, James Eddy, E. L. Plumb, and Archibald Robertson, and their associates, be and' they are hereby created a body corporate and politic, by the name, style and title of the MEXICAN PACIFIC COMPANY, and by such name and title shall have perpetual succession, and shall be capable of sueing and being sued, impleading and being impleaded, and of granting and receiving in its corporate name, property— real, personal and mixed ; and of holding and im proving lands in Mexico or other portions of Spanish America, and to obtain therefrom any and all minerals and other valuable substances, whether by mining or working, leasing or disposing of privileges to work or mine such land, or any part or parts thereof, to construct basins, wharves and docks, to improve the navigation of lakes and rivers, to construct and open for use, 3 18 and to furnish and equip any highways, roads or railroads in Mexico or Spanish America aforesaid ; and shall have and pos sess power to sell, let, lease and colonize any such lands, and to erect and build houses, manufactories and mills thereon ; and to use, let, lease or work the same; and to hold and possess the means of communicating therewith ; and to dispose of the pro ducts of all such lands, mines, houses, mills, manufactories and privileges, as they may deem proper ; and to purchase, build and equip vessels of any description, to convey their said pro ducts to market, and to employ them in other ways to advance the interests of the Company. Sec. 2. — That the said Company shall have power to make such By-laws as they may deem proper to enable them to carry out the objects of the Corporation, and the same to alter, amend, add to or repeal at their pleasure; ¦provided that such By-laws shall not be contrary to the Constitution of this Commonwealth or the provisions of this Act ; and to adopt a common seal, and the same to alter at pleasure ; and to issue Certificates of Stock, representing the value of their property, in such form and sub ject to such regulations as they may from time to time by their By-laws prescribe ; and to regulate and prescribe in what man ner and form their contracts and obligations shall be executed. Sec. 3. — That the Corporators named in this Act shall elect persons to serve as Directors of the Company, a majority of whom shall constitute a quorum for the transaction of business, and shall hold their offices until their successors shall have been elected in accordance with the By-laws. Sec. 4. — That it shall be lawful for said Company to exercise the privileges and powers conferred upon it by this Act in Mexico, Central and South America, and in the Islands of the Atlantic and Pacific Oceans ; to establish the necessary offices for the business of the Company wherever their business is located ; and to have their principal office in the United States, in such place as they may deem expedient, at which place it shall be lawful to hold all meetings for transaction of the busi ness of the Company. 19 Sec. 5 — That the provisions of this Act shall continue in force twenty years, and no longer. J. Lawrence Getz, Speaker of the House of Representatives. David Taggart, Speaker of the Senate. Approved the twenty-first day of May, one thousand eight hundred and fifty-seven. JAMES POLLOCK. Office of the Secretary of the Commonwealth, ) Harbisbttrg, June 9th, A. D. 1857. \ Pennnsyvania, ss. I do hereby certify that the foregoing and annexed is a full, [seal.] true, and correct copy of the original act of the General Assem bly, as the same remains on file in this office. In testimony whereof I have hereunto set my hand, and caused the Seal of the Secretary's Office to be affixed, the day and year above written. John M. Sullivan, Dep. Secretary of the Commonwealth, A SUPPLEMENT to an act entitled an act to incorporate the MEXICAN PACIFIC COMPANY, Approved Mat 21, 1857. Section 1. — Be it enacted by the Senate and House of Re presentatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by tie authority of the same : That it shall and may be lawful for the MEXICAN PACIFIC COMPANY to convert a portion of its Certificates 20 of Stock into shares of preferred stock* in such form and under 6uch stipulations and arrangements and subject to such rate or rates of annual dividends as a majority in interest of the Share holders of the said Company may prescribe. Section 2. — That the Charter of said Company be and . the same is hereby extended for the further period of twenty years from and after the expiration of its present Charter. John Cessna, Speaker of the House of Representatives. G. V. Lawrence, Speaker of the Senate. Approved the fourth day of April, Anno Domini one thousand eight hun dred and sixty-three. A. G. CURTIN. Office of the Secretary of the Commonwealth, ) Hakbisburg, April 4th, A. D. 1363. j Pennsylvania, ss. I do hereby certify that the foregoing and annexed is a full, true, and correct copy of the original Act of the General Assem- [sbal.] bly, entitled : " A supplement to an Act entitled an Act to incorporate the Mexican Pacific Company, approved May twenty-first, eighteen hundred and fifty-seven," as the same remains on file in this Office. In testimony whereof I have hereunto set my hand, and caused the Seal of the Secretary's Office to be affixed, the day and year above written. Samuel B. Thomas, Deputy Secretary of the Commonwealth. * This authority has not been availed of, no preferred Stock having been issued. BY-LAWS OK THE MEXICAN PACIFIC COMPANY, As Amended March 24th, 1864. ARTICLE I. Government of the Company. Section 1. — The property and business of this Company shall be con trolled and managed by a Board of Nine Directors, who shall be annually elected by the Shareholders. The principal office for the transaction of the business of the Company and the general direction of its affairs, shall be located in the city of New York. Section 2. The Board of Directors, as elected each year, shall meet to organize and to elect Officers on the first Thursday succeeding their election. Stated meetings of the Board shall be held at the office of the Company, in the city of New York, on the first Thursday in April, July, October and January, and on the Tuesday next preceding the annual meeting of the Shareholders. Special meetings shall be called by the Secretary at any time when so directed, in writing, by the President, or by any three of the Directors. If a quorum be not present at any meeting of the Board, a less number may adjourn from time to time until a quorum shall be present. Section 3. It shall be the duty of the Board of Directors to make a full and detailed Report to the Shareholders at each annual meeting regarding the business of the past year, the position of the Company, and the condi tion of its property and interests. 22 Tbey shall also furnish an estimate of the operations and probable ex penditures for the year then next ensuing, and shall declare and pay divi^ dends from the net earnings or profits of the Company, when and as often as the state of the funds will admit. Section 4. — The Board of Directors shall have power to determine all matters relating to the location and development of the Company's prop erty in Mexico, the acquisition of other property, and the lease or sale of lands and mineral rights to other Companies ; they shall have power to order and direct the prosecution of such works and the employment of such and as many agents and servants as in their judgment the interests and business of the Company may require, to fix their rate of compensation and define their duties ; to authorize the execution of contracts and other obligations ; to establish such rules and regulations for the conduct of the Company's business as they shall deem proper, and the same to alter and amend at their pleasure ; and generally to do all such acts and adopt all such measures (not inconsistent with the Charter and By-Laws of the Company), as they shall deem best calculated to promote the interests of the Shareholders ; but the Board of Directors shall at all times be subject to such special instructions as may be given at any meeting of the Share holders, by the vote of a majority in interest of all of the Shareholders, and they shall have no power to do any act by which any personal liability would be imposed upori any of the Shareholders of the Company. Section 5. — Any vacancy which may occur among the Directors or Executive Officers of the Company, by resignation or otherwise, may be filled for the remainder of the term by the remaining Directors at any stated meeting of the Board, or at a special meeting called for that purpose. All Directors and Executive Officers must be Shareholders in the Company. Section 6. — The Board of Directors shall appoint an Executive Com mittee, to be composed of the President, ex officio, and three Directors, and may assign to them such duties, and delegate to them such powers as they may deem proper. It shall be the duty of the Executive Committee to meet at the office of the Company to consult and advise with the President as often as he may require their attendance, or they shall deem proper for the interests of the Company. The vote of a majority of the Committee shall b? necessary in the deter mination of any question. 23 The Executive Committee shall audit all accounts of the Company, ex cept when the same shall be referred to a Special Committee. Record of their proceedings shall be kept by the Secretary, and shall be submitted at each meeting of the Board of Directors for their approval. ARTICLE II. Executive Officers. Section 1. — The Executive Officers of the Company shall be a Presi dent, Vice-President, Treasurer, and Secretary, who shall be annually elected by the Board of Directors. The President and the Vice-President shall be chosen from the Board of Directors. The Executive Officers of the Company shall receive for their services such compensation as the Board of Directors may determine. Section 2. — The President of the Company shall be Chairman of the Board of Directors, and of the Executive Committee, and shall preside at all meetings of the Shareholders. The President shall have the general direction, control and superinten dence of all of the affairs of the Company, and of the conduct of its business, subject to the advice and instructions of the Board of Directors. He shall appoint all subordinate officers, clerks and agents of the Com pany, and issue their instructions, and shall have the direction and control of all such officers, clerks and agents, with power to dismiss the same for improper conduct, or inefficiency in the discharge of their duties ; but in all cases of removal or appointment he shall report the same to the Board of Directors at the next meeting, and be subject to their ap proval. The President shall present to the Board of Directorst at each stated meeting of the Board, as full an account as practicable of the business of the Company for the last preceding quarter and shall submit all Reports received from the agents' in Mexico. All contracts or engagements of debt shall be subject to the approval of the Board of Directors. Section 3. — In case of the absence or sickness of the President, or when, from any cause a vacancy shall occur in the office of President, the 24 duties of that office shall be discharged by the Vice-President, during such absence, sickness or vacancy. In the absence of both the President and Vice-Piesident, the Executive Committee shall appoint a President pro tern, to act during such absence. The Vice-President shall also discharge such duties as may be specially assigned to him by the Board of Directors, and generally shall take such active part in attending co the business of the Company as may be di rected by the Board. Section 4. — The Treasurer shall have the custody of all fnnds be longing to the Company, and the superintendence of the collection of the same. He shall deposit all of said funds in the name of the Company in such Banks or Trust Companies as may be selected by the Board of Directors, and the same shall be withdrawn only upon checks signed by the Treas urer and countersigned by the President. It shall be the duty of the Treasurer to see that there is a proper voucher on file for every expenditure, and that the funds of the Company are faithfully applied and fully accounted for. The Treasurer of the Company shall have power to endorse notesi checks or bills of exchange received by the Company in the prosecution of its business, but all obligations of the Company shall be signed by the President and Secretary. In case of the sickness or absence of the Treasurer, or of vacancy in that office from any cause, the Executive Committee shall appoint some person to perform the duties of the office during such sickness or ab sence, or, in case of vacancy, until the next meeting of the Board of Directors. The Treasurer shall at all times be subject to the supervision of the Executive Committee, and to the instructions of the Board of Di rectors. He shall give such security for the trust committed to him, as the Board may require. Section 5. — The Secretary of the Company shall attend all meetings of the Board of Directors, Executive Committee and Shareholders, and shall make and preserve a detailed Record of all the proceedings and acts of such meetings, and authenticate the same. The Secretary, jointly with the President, shall receive and safely keep all certificates of stock, title deeds, contracts and securities belonging to the Company. 25 He shall have charge of all the books and papers of the Company, and shall prepare and keep proper books of account for the business of the Company, and a stock-ledger and transfer-book, and such other books and records as the Board of Directors may prescribe, all of which books and papers shall be kept in the Office of the Company, and shall at all times be open to the inspection of the Executive Committee, and subject to the supervision and direction of the President. He shall countersign and register all Certificates of Stock and other documents requiring the signature of the President ; and shall discharge such other duties as may be assigned to him by the President and Board of Directors. In case of the sickness or absence of the Secretary, or of vacancy in that office from any cause, the Executive Committee shall appoint some person to perform the duties of the office during such sickness or ab sence, or, in case of vacancy, until the next meeting of the Board of Directors. Section 6. — It shall be the duty of the Secretary to give notice of the time and place of all meetings. For the annual meeting of the Shareholders, such notice shall be by public advertisement in two newspapers published in the city of New York, and one in the city of Philadelphia, and fpr the stated meetings of the Board of Directors, by letter or circular transmitted through the Post-office or by notice personally served. For the stated meetings of the Board of Directors, notice shall be given four days previous thereto, and for the annual meeting of the Shareholders, twenty days previous thereto. Record of such notices shall* be made by the Secretary, and shall be competent evidence thereof. ARTICLE III. meetings of shareholders. Section 1. — The annual meeting of the Shareholders of the Com pany, for the election of Directors, the reception of Reports from Officers and Agents, and the transaction of general business, shall be held in the city of Philadelphia, on the last Thursday in April of each year. The presence of a majority in interest of all of the Shareholders in person, or represented by proxy, shall be necessary for the election of Directors, or the transaction of business at any meeting of the Company. 4 26 Section 2.— Three Shareholders, not holding any office in the Com pany, shall be chosen by the meeting, who shall act as sworn Inspectors of the election for Directors, which shall be by ballot, and whose certifi cate shall be competent evidence of the results of such election. The polls shall be opened at Twelve (12) M., and shall remain open until Two (2) o'clock P. M. Section 3. — The result of the election shall be reported to the Secre tary of the Company immediately after the close of the election; and the Secretary shall, upon the receipt of such report, give notice to each person returned as elected, of his election, and of the time and place of meeting of the Directors for the organization of the Board. If any Director, elected and notified as aforesaid, shall not, within thirty days after such election, signify his acceptance, his place as Director shall be deemed vacant, and the Board shall elect a Director from among the Shareholders to fill such vacancy. Section 4. — In the event of no election being held on the day ap pointed, from any cause, the Shareholders present may adjourn the meet ing from time to time until a Board of Directors shall be duly elected, or a special meeting may be called for that purpose. The Directors and Officers of the last year shall hold over until their successors are elected. Section 5. — At all meetings of the Shareholders, whether for the elec tion of Directors or for the transaction of general or special business, each Shareholder shall be entitled to one vote for every share of Stock said Shareholder shall hold ; and Shareholders may attend and vote either in person or by proxy ; but all proxies shall be filed with the Secretary at or previous to the time of voting. All elections and all questions, except in the case of special instructions to the Board of Directors, and of alterations of the By-laws, shall be de termined by a plurality of the votes cast. Section 6. — Special meetings of the Shareholders shall be called by the Secretary at auy time when so directed by the Board of Directors, or by a majority in interest of the Shareholders. Notice thereof shall be given as required for annual meetings. 27 ARTICLE IV. Capital Stock. Section 1. — Certificates of Stock amounting to ten millions of dollars shall represent the value of the property of the Company, and the Capital Stock shall be divided into one hundred thousand shares of one hundred dollars each. Section 2. — The said certificates shall be in the following form ; No., Shares THE MEXICAN PACIFIC COMPANY Incorporated under Special Charter from the State of Pennsylvania. This certifies that is entitled to Shares of One hundred Dollars each of the Capital Stock of the Mexican Pacific Company, trans ferable in person or by attorney on the Books of the Company upon the surrender of this Certificate. Said Shares being full stock and not subject to any call or assessment. In witness whereof the said Company has caused this Certificate to be signed by their President and Secretary, at New York, this day of — Secretary. President. Section 3. — All Certificates of Stock shall be signed by the President and Secretary, and shall bear the seal of the Company. They shall be numbered and registered, and shall be duly receipted for as they are issued. Section 4. — All issues of Certificates and transfers of Shares shall be entered upon the books of the Company, and no transfer of Stock shall be made except upon the surrender of Certificates^for the amount transferred which shall be cancelled. No transfer shall be valid or binding upon the'Company until the same shall have been duly made upon the books of the Company by the Share holder or his duly authorized agent. In all cases of transfer by attorney, the original letter of attorney or duly certified copy thereof, shall be deposited and remain with the Secretary of the Company. 28 Section 5. — The transfer books may be closed for a period not exceed ing ten days immediately preceding the days appointed for the annual election, or for the payment of dividends, public notice thereof being given in two or more daily papers. ARTICLE V. Corporate Seal. Section 1. — The Common Seal of the Company shall be a circular seal about two (2) inches in diameter, with the united coats of arms of Mexico and the United States for its device, and the words " New York " and the name of the Company around the margin. It shall be kept in the custody of the Secretary, and shall be affixed to such instruments as may be directed by the President. ARTICLE VI. Alterations of the By-Laws. Section 1. — These By-Laws shall not be altered, amended, or repealed except by the vote of a majority in interest of all of the Shareholders of the Company, at an annual meeting, or at a special meeting called for that purpose, and when at such annual or special meeting at least two-thirds in interest of all of the Shareholders of the Company shall be represented. DOCUMENTS MEXIOAN GOVERNMENT. Document No. 1. [Translation.] MINISTRY OF FOMENTO, COLONIZATION, INDUSTRY AND COMMERCE OF THE MEXICAN REPUBLIC. Section Second. Sis Serene Highness the General President has been pleased to direct to me the following Decree : — Antonio Lopez de Santa Anna, Benemerito of the Country, General of Division, Grand Master of the National and Distinguished Order of Guadalupe, Knight of the Grand Cross of the Royal and Distinguished Spanish Order of Carlos III., and President of the Mexican Republic, to the Inhabitants of the same maketh known, that in use of the facul ties which the nation has been pleased to confer upon me, I have seen fit to decree the following : — Art. 1. The exclusive right is conceded to Henrique de Zavala, Carlos Maillard, and Edward L. Plumb, of exploring and mining all mines of mineral coal and of iron* that now exist or may be discovered in the tract or tracts of land which they may select and obtain by purchase from the legitimate owners,f in the Territory of Colima, and the Departments of Micboacan and Guerrero, which tracts shall not be more than five,J and may be selected at one single point or divided between the above-named Departments, their total extension to be twenty square leagues. Art. 2. Should any of the selected lands be government lands, the ownership of them shall be conceded to the above-named gentlemen, after the presentation of the proper petition, accompanied by their boundary and delineation, and paying to the Supreme Government, at the rate of five hundred silver dollars for each square league, which payment shall be 1 * See new Decree, Art. 8, Doc. No. 11. t See Art. 1, Doc. No. 18. t See Art. 2, Doc. No. 18. 32 made in the term of two years, counted from the date of the concession of them ; and should this payment not have effect, the sale shall be held annulled. Art. 3. Having selected the lands conceded by this Decree, the parties interested shall give immediate information to the Mining Tribunal of the Department in which they are found, for the knowledge and govern ment of all persons who may interest themselves therein ; and from the day on which said notice shall be given, they shall acquire all the rights and privileges which are conceded by this Decree ; but it is not to be un derstood that this may prejudice in any manner the rights which a third party may have acquired by possession or denouncement to any mine or mines, be they either of gold, silver, or other metals, or of coal or of iron, with the proviso that the possession shall have been taken previous to the date of the notice spoken of in this Article. Art. 4. As the object of this concession is to develope completely the working of mineral coal and iron at the points which the Grantees may select, it is conceded to them : 1st. The right of navigating the rivers which may be navigable for the transportation of the products of the mines from the lands on which they may be found to a port open to commerce on the Pacific Ocean. 2d. The right of building railroads and wagon roads, as also wharves, which may be necessary for said transportation to the Pacific Ocean ; it being understood that this and the foregoing concession do not constitute Rn exclusive privilege. 3d. The right of way for the sa id roads and wharves, and their res pective edifices ; and when they may pass upon public lands, the grantees shall pay for the land so taken, in the just proportion, the price agreed in Article 2d. 4th. They may import, free from all duties, the machinery, utensils, materials of construction, boats, cars, and furniture for the works of the mines, and for the construction of the necessary means of transport ; di recting previously to the Minister of Treasury for his knowledge the proper invoices. 6th. The vessels which load exclusively with the products of the mines shall be free from tonnage'dues ; but not those which bring or load with any other merchandise, although the greater part of their cargoes should be of said products. 33 6th. The coal and iron which may be produced from the mines shall be free from all duty upon its exportation, and from other interior duties es tablished. 7th. All other taxes, of whatever class they may be, shall not be greater upon this enterprise than are paid by equal or analogous properties in other parts of the Republic. 8th. They shall have the right to: bring Irish laborers,, or of any other country except Chinese,* they being subject entirely to the laws of the Republic, and very particularly to that of the 16 th of February of this year relating to colonization. 9th. The employees, operatives and other laborers, occupied by the Company, shall be exempt from military service during the time that they may be in the employ of the Company, except in case of foreign war. Art. 5. The rights and interests conceded by this Decree may be transferred by the Grantees to the Company that they may form, within or without the Republic ; but all and each one of the persons composing it shall be subject, in respect to it, exclusively to the laws of the Republic, and shall not allege in any time the rights of foreigners nor claim foreign protection. Art. 6. The said Company shall be formed, giving notice of it imme diately to the Supreme Government by means of the Minister of Fomento, within one year, counting from the date of this Decree,f and commencing to work the mines within two years,J counting from the same date ; but if, by the expiration of the first term, notice shall not have been given of the formation of the Company, this privilege shall be held annulled. Art. 7. From the date of the formation of said Company, a Register shall be opened in this Capital for the term of one year,§ reserving one- fourth part of the shares into which the capital stock may be divided, that they may be taken by the inhabitants of this Republic to whom it may be convenient. Art. 8. In consideration of the privileges and concessions granted by this Decree, the Grantees agree to pay to the Supreme Government one dollar|[ for each ton of mineral coal or iron, the product of the mines, which may be exported to foreign countries, or consumed in the interior * See new Decree, Document No, 6. $ See Documents No. 6 and 10. t See Document No. 2. 6 See document No. 9. I See Document No; 0 5 34 paying this impost at the close of each three months into the general treasury of the nation. Also they agree to deliver, when ordered by the Supreme Government, at whatever port or accessible point of the Mexican coast in the Pacific Ocean, and in quantities not under two hundred and fifty tons, all the coal which may be necessary for the consumption of the steamers of the Government of the Republic in said Pacific Ocean, the Government paying only the costs of extraction and of transportation to the point where it may be delivered. But this obligation shall not com mence to have force until after one year from the commencement of the working of the mines. Art. 9. In case any persons shall have acquired rights in any mines of coal or of iron upon the lands which may be selected by virtue of this Decree, having the possession or denouncement anterior to the notice which the grantees shall make in conformity with the provision in Article 3d, if said Grantees desire to extend over such mines the privileges con ceded, they shall purchase or legally acquire the interests of the primitive owners — making it known to the proper mining tribunal — and then the said privileges shall be extended to such mines. Art. 10. The lands which may be selected by the Grantees, whether government land or private, shall be surveyed and mapped at their cost, they presenting the maps of the same to the Supreme Government within the term of one year from the date of the notice of their selection, being properly authenticated by a certificate of the respective mining tribunals. Art. 11. The privileges and concessions contained in this Decree shall have all their force and vigor during fifty years, counting from this date, after which the enterprise shall be subject to the common laws. Wherefore, I order that it be printed, made public, circulated, and that it be fully complied with. Given in the National Palace of Mexico, November 15th, 1854. Antonio Lopez de Santa Anna. To the Minister of Fomento. I communicate it to you for your intelligence and the consequent endsi God and Liberty ! Mexico, November 15th, 1854. The Minister of Fomento, Colonization, Industry and Commerce. Joaquin Velazquez de Leon; (A true copy.) M. Lerdo de Tejada, Chief Clerk. 35 I, the undersigned Chief Clerk of the Department of Foreign Relations, Certify : That Mr. Miguel Lerdo de Tejada is Chief Clerk of the Depart ment of Fomento of the government of the Mexican Republic, and that his signature which precedes is that which is used in the certification of all documents. J. Miguel Arroyo. Mexico, November 17th, 1854. [seal.] Tees, $4,00. No. 2625. Consulate of the U. S. of America, i Mexico, November 17th, 1854. j I, the undersigned, Consul of the United States of America, for the city of Mexico, hereby certify, that the signature of J. Miguel Arroyo, sub scribed to the foregoing certificate, is in the proper handwriting of said person, the same as used by him in all his official acts, who is well known to me, and was at the time of subscribing the same Chief Clerk of the Foreign Department of the Mexican Government, and that all his official acts are entitled to full faith and credit as such. In testimony whereof, I have hereunto set my hand, and affixed the Con sular seal, the day and year first before written. JOHN BLACK, Consul. Register G., folio 261. Fees $2. [Seal.] 36 Documents No. 2. Translation of Notarial Certificate of presentation to the Mexican Govern ment of Official Notice of the formation of the Mexican Pacific Coal and Iron Mining and Land Company. Mariano Vega, Public Notary of the number of this Capital, Certifies : That at two o'clock of the afternoon of this day-I called at the Ministry of Fomento, accompanied by Mr. E. L. Plumb, and the Chief Clerk, Dn. Miguel Lerdo de Tejada, who is acting as Minister in the absence of the one appointed, being present, a document in the English language was presented to him in my presence, by Mr. Plumb, approved in due form by the Consul of the, Mexican Republic in New York, which accredits the legal formation of the Company under the name of "Mexican Pacific Coal and Iron Mining and Land Company," in the City of New York, United States of the North, under the Privilege which the Supreme Gov ernment of the Mexican Repnblic gave and conceded on the 15th day of November, 1854, to Henrique de Zavala, Carlos Maillard, and Eduardo L. Plumb. Said document was presented by the above-mentioned Mr. Plumb, in the name of the said Company, and of all parties interested, with an official note in the Spanish language, by means of which is communicated to the Supreme Government of the Mexican Republic through the Ministry of Fomento, the notice required in the sixth article of the concession re ferred to, of the due formation and organization of a company for the car rying out of the conditions and purposes of the privilege. I also certfy, that another document was also presented at the same time, written in the English language, equally legalized by the Consul of the Mexican Republic in New York, accrediting the sale made by the same Messrs. Henrique de Zavala, Carlos Maillard, and Eduardo L. Plumb, of the above-mentioned Privilege to the Company, named " Mexican Pacific Coal and Iron Mining and Land Company," transferring to it all the rights con tained in the said concession — which delivery was made with a correspond ing official note in the Spanish language, signed also by Mr. Plumb, in the name of all parties interested. And at the request of this gentleman, for the convenient purposes, I execute this in triplicate, giving him two copies and reserving the third for the archives of this public office. Mexico, 29th October, 1855. MAR0. VEGA, .Notary. 37 No. 2962. Consulate of the United States of America, ) Mexico, Octobei-31, 1855. J I, the undersigned, Consul of the United States of America", for the City of Mexico, hereby certify, that the signature of Mariano Vega subscribed to the foregoing document is in the proper handwriting of said person, the same as used by him in all his official acts, who is well known to me, arid was, at the time of subscribing the same, a duly authorized Notary; Public of this city, and that all his official acts are entitled to full faith and credit as such. In testimony whereof, I have hereunto set my Register H, folio 92. hand and affixed the Consular Seal, the day Fee $2. and year first above written. [Seal.] JOHN BLACK, Consul. Mexico, October 31, 1855. To the Hon. James Gadsden, U. S. Minister, Mexico : Sir, — In behalf of the "Mexican Pacific Coal and Iron Mining and Land Company," and of all parties interested, the undersigned begs re spectfully to solicit that the herewith enclosed notarial certificate (with per tinent documents attached) of the notification to the Snprcme Government of the Republic of Mexico of the formation of the said Company, as re quired to be given under article sixth of a concession or privilege made by said Government to Henrique de Zavala, Carlos Maillard, and Edward L. Plumb, under date of November 15th, 1854, may be filed in the archives of your Legation, for future reference, should circumstances require. I have the honor to be, sir, Very respectfully, Your ob'dt s'vt, Edward L. Plumb. 38 Legation of the United States, ) Mexico, Nov. 2d, 1855. J Sir,— Your letter (accompanied by a notarial certificate, with the rela tive documents attached, of the notification to the Supreme Government of the Republic of Mexico, of the " Mexican Pacific Coal and Iron Mining and Land Company's " formation, as required under sixth article of a concession made to yourself and others, by said Government), has been received, and in compliance with your desire, as therein expressed, has been duly filed in the archives of the Legation. Respectfully, James Gadsden. To Edward L. Plumb, Esq., Hotel Gran Bazar, Mexico, 39 Document No. 3. [Translation.] ministry of fomento, colonization, industry and commerce OF THE MEXICAN REPUBLIC. Section Second.. With your communication of the 29th of last month, this Ministerio has received the document which shows the formation of a Company for the working of mineral coal and iron mines, which notice you give in com pliance with article sixth of the decree of 15th November of last year, which conceded the privilege of working said mines to yourself and Messrs. Zavala and Maillard. God and Liberty. Mexico, 8th November, 1855. M. LERDO DE TEJADA. To Mr. Edward L. Plumb. Document No. 4. _ Translation.] MINISTRY OF FOMEMTO, COLONIZATION, INDUSTRY AND COMMERCE OF THE MEXICAN REPUBLIC. Section Second. With your communication of the 29 th of the last month, this Minis terio has received the writing of sale made by yourself and Messrs. Zavala and Maillard, proprietors of the Privilege granted by the Supreme Govern ment, by the Decree of the 15th November, of the past year, for the Working of mines of mineral coal and iron, which may be thereunder acquired, in the Territory of Colima and the Departments of Michoacan and Guerrero, and due notice is taken of the contents of your communica tion. God and Liberty. Mexico, November 8th, 1855. M. LERDO DE TEJADA, To Mr. Edward L. Piumb, 40 Document. No. 5. [Translation.] MINISTRY OF FOMENTO, COLONIZATION, INDUSTRY AND COMMERCE OF THE MEXICAN REPUBLIC. Section Second. Having conferred with His Excellency the President substitute, respect ing the petition presented by you as representative of the Company for the working of coal and iron mines in the Republic, formed in consequence of the Decree of 15th November, 1854 ; His Excellency, in view of what you have stated, has been pleased to accord that the time fixed in Article 6th of the said Decree, for the commencement of the working of the mines, be prorogued for one year more, counting from this date; and with respect" to the other point contained in your said petition, he disposes also, that Article 8th be modified, reducing to two shillings (25 cents) per ton,, the. duty therein established. All of which I communicate to you for your intelligence, and that there may be account given to this department of the result of the labors about being commenced by the exploring commission, as well as of the time when the workiug of the mines shall be commenced. God and Liberty. Mexico, November 4th, 1856. SILICEO. To Mr. Edward L. Plumb. MINISTRY OF FOMENTO, COLONIZATION, INDUSTRY, AND COMMERCE, OF THE MEXICAN REPUBLIC. 41 Document No. 6. [Translation.] Section Second. His Excellency the Minister of Treasury, under date of yesterday, writes to me as follows : " Your Excellency — Under this date the necessary order has been despatched that the Custom House of Vera Cruz permit the free introduction of the scientific instruments, equipage, tools, machin ery, &c, that may arrive for account of the Company for the working of mines of Coal and Iron in the Republic, in conformity with the petition of Mr. Edward L. Plumb, in the representation which your Excellency remits to me with your official note of to-day, to which I have the honor to reply. Which I transcribe to you for your information, and as the result of your petition relating thereto. God and Liberty. Mexico, November 5th, 1853. SILICEO. To Mr. Edward L. Plumb. 42 Document No. 7. Free Permit. BOARD OF PUBLIC CREDIT. [Translation,] Section Second. His Excellency the Minister of Treasury writes to me under date of yes terday the following : " His Excellency the Minister of Fomento writes to me this day, as follows: Your Excellency: I have the honor to remit to you the following original petition of Mr. Edward L. Plumb, in which he solicits the cor responding permit for the introduction, free of duties, into the port of Vera Cruz, of the scientific instruments, equipage, tools, machinery, &c, belong ing to the Geological and Engineering Corps which is sent out by the Company for the exploration of the Coal and Iron mines of the Republic. All in conformity with the Decree of 15th November, 1854, and which orders I doubt not your Excellency will immediately give, as this enter prise is very important for the mining prosperity of the Republic." " And his Excellency the President substitute having assented to the petition, I communicate it to you according to his order for the corresponding effect, that the Board of Public Credit may notify the Custom House at Vera Cruz to make the respective entries according to the Invoices which the interested parties will present in conformity with the fourth Article of said Decree, and of which you will remit one to this office, and the said Custom House will make the corresponding register of the articles imported." All of which I transcribe to you by order of this Board for its fulfillment, which you will proceed with according to all the details contained in the supreme order inserted. God and Liberty. Mexico, November 5th, 1856. GREGORIO DE MIER Y TERAN, Marcelino Casteneda, Secretary. ' To The Collector for the Port of Vera Cruz. 43 Documents No. ,8, [Translation.] Juan Alvarez, General of Division and President ad interim, of the Republic. The Supreme Government having granted to Mr. Edward L. ^- j| Plumb, authority to make a scientific Mineralogiqal Survey of the | - | Coal and Iron Mines of ftis State, that of Michoacan and the j. | «S territory of Colima, I charge a,ll, authorities, civil, as well as military, ^ | not to put any impediment in the way of the, said survey, but on |, g the contrary to procure for him and Messrs. J. D. Whitney and | W N. S. Manross,, Geologists, J. Hungerford and C. Bonner, Assistant 6 Geologists, Henry W. Poole, Engineer, and W. W, Hanson, ^ Assistant Engineer, and their servants accompanying the General •§ Agent, the resources they may need, and which they ,wijl pay for ^ at their just prices. Given at Tasco, January 5th, 18,57. J. ALVAREZ. necessary time. Good for the ) [Translation.] The Minister of Fomento, Colonization, Industry, and Commerce of the Republic of Mexico, by order of His Excellency the Presi dent Substitute of the same : Bx the present, charge and order all the civil authorities of the States of Guerrero and Michoacan and Territory of Colima, to whom this may be pre sented, not to put any manner of obstacle before Mr. Edward L. Plumb and the other members of the Scientific Commission under his charge, during their transit or stay in any part of the States and Territory where they are going with the important object of making a detailed survey of the mines of Coal and Iron ; but, on the contrary, to assist them in every respect by all possible means towards the accomplishment of the interesting object they hate in view, and that they impart all manner of protection to them ; considering that by so doing they will not only contribute to the general 44 benefit, which will be promoted by this useful Enterprise, but will also com ply with a duty acknowledged by every civilized nation, and will sustain at the same time the good name of our country, and deserve therefor the special consideration of the Supreme Government. And for this purpose I sign the present in Mexico, January 27, 1857. SILICEO. [Translation.] The military authorities of the States of Guerrero and Michoacan and Territory of Colima are charged not to place any manner of obstacles before Mr. Edward L. Plumb, and the persons who compose the Scientific Com mission under his charge, in their transit or residence at whatever point in the said States and Territory to which they go with the important object of making a detailed exploration of the minerals of Coal and Iron ; but, on the contrary, to assist them in every manner towards the furtherance of the important end they have in view, and to impart to them all manner of pro tection and security, knowing that in doing so, besides contributing to the general good which is promoted by such useful enterprises, they will com ply" with a duty recognised by all civilized countries, and sustain the good name of our Republic, making themselves at the same time worthy of special recommendation to His Excellency the President, by whose order I direct to the before mentioned military authorities the present document for the object indicated. Mexico, January 29tb, 1857. SOTO. 45 Document No. 9. [Translation^ MINISTRY of fomento, colonization, industry and commerce OF THE MEXICAN REPUBLIC. Section Second. Informed of your communication of the 15th of last month, in which you state that you have complied in the name of the Company for the working of Coal and Iron Mines, of which you are agent, with the engage ment it had taken by the 7th Article of the decree of 15th November, 1854, which granted to said Company a privilege for said working, having kept open a Book for the purpose that the Citizens of Mexico might sub scribe as shareholders, one-quarter part of the shares having been reserved to that effect ; and in proof of which you present a certificate made out by the public notary, Mr. Mariano Vega. I observe to you in due answer, that the Company has " de facto," complied with the article in question, but that it would be desirable for the sake of equity to invite the Mexicans again, reserving for them for a further term a certain number of Shares, clearly understanding that it be not prejudicial to the interests of the Com pany, and that such prolongation is not considered as being obligatory upon the Company. God and Liberty. Mexico, February 3d, 1857, SILICEO. To Mr. Edward L. Plumb. 46 Document No. 10. [Translation.] MINISTRY OF FOMENTO, COLONIZATION, INDUSTRY AND COMMERCE OF THE MEXICAN REPUBLIC. Section Second. .In answer to your communication of the 17th of the present month,, in wbich you give. notice, that in compliance with Article 6th of the Decree of 15th November, 1854, the Company formed for the working of Coal and Iron mines in the States of Michoacan and Guerrero and Territory of Colimp, has commenced its works in that known by the name of " Piedra Iman de Sochipala," employing all the persons necessary for the present ; I reply to you that the Company has thereby complied with the require ment of the said 6th Article, which fixed the term of two years for com mencing operations in the mines. I make this known to you for your intelligence and the consequent ends. God and Liberty. Mexico, June 30th, 1857. SILICEO. To Mr. Edward L. Psump. MINISTRY OF FOMENTO, COLONIZATION, INDUSTRY, AND COMMERCE, OF THE MEXICAN REPUBLIC. 47 Document No. 11. [Translation."] Section Second. As the result of the exposition which you presented under date of the 22d instant, as general agent of the Company for the working of the coal and iron mines of the States of Michoacan and Guerrero, His Excellency the President of the Republic, to whom I gave account of it, has been pleased to grant the following Decree : Art. 1st. In order that the Company formed by virtue of the Decree of 15th November, 1854, which conceded to Henry de Zavala, Charles Maillard, and Edward L. Plumb, the exclusive right of working all the mines of mineral coal and iron, which exist, or that may be discovered in the Territory of Colima, and in the States of Michoacan and Guerrero, may act with absolute liberty in all the business pertaining to it, the rights, liberties, and privileges which are enjoyed by Mexican citizens are conceded to it, in the acquisition of properties in conformity with article 1st of said Decree, and all the resources and legal actions may be employed in what ever dispute with the Company that can be exercised against a private in dividual. Art. 2d. The Company may divide and subdivide its capital into the number of shares which it may judge convenient, disposing of them freely as of private property, having the right to transfer them to persons and corporations as may be desired, in conformity with the by-laws which may be formed by the Company for the management of its business, and for the construction and preservation of its works. Art. 3d. Upon the lands conceded to the Company by the said article 1st of the_Decree of the 15th of November, 1854, in the Territory of Colima and in the States of Michoacan and Guerrero, they shall have the further right of working whatever other minerals, with the exception of 48 gold and silver, enjoying equally for these all the privileges which have been already accorded. The minerals of gold and silver shall remain subject to the provisions of the mining ordinances. Art. 4th. If within eighteen months, counted from the date of this Decree, there shall not be in operation or work, at least one of the mines of the Company, they shall incur a penalty of five thousand dollars, which shall be guaranteed to the satisfaction of the Department of Fomento within the term of four months. Art. 5th. The right of freely navigating the River Zacatula, or Mescala, and its branches, is conceded to the Company ; respecting the concessions previously made. They shall have the right, also, of making use of the waters of the said rivers, for the purpose of propelling machinery, and for the transportation of fuel or lumber. Art. 6th. The restriction contained in clause 8, of Article 4th of the said Decree of the 15th of November, upon the introduction of Chinese laborers, is annulled by this present Decree, and they may be introduced into the Republic as may be needed for the works of the Company. Wherefore, I order that this be printed, published, circulated, and that due compliance be given to it. National Palace in Mexico, 27th of June, 1857. I. Comonfort. And I transcribe it to you for your intelligence and the consequent ends. God and Liberty. Mexico, June 30th, 1857, SILICEO, To Mr. Edward L. Plumb; 49 Documents No. 12. [Translation.] Office of the Mexican Consulate, ) October 6th, 1857. J Mr. President of the Mexican Pacific Coal and Iron Mining and Land Company. My Dear Sir, The documents which you were pleased to enclose to me in your esteemed favor dated yesterday, have been remitted by the mail of to-day to his Excellency the Minister of Fomento of the Mexican Republic, with the proper official note from this Consulate. And complying with the desire manifested by you in your said letter, I say this to you in due answer, offering myself at the same time as Your faithful servant, J. M. DURAN. [Translation.] New York, December 7th, 1857. Mr. George F. Allen, President of the Mexican Pacific Coal and Iron Mining and Land Company. My Dear Sir, The Bond of $5,000 which you were pleased to enclose to me in your letter of the 5th of October last, and which was remitted to the Supreme Government of the republic of Mexico, according to your desires, has been received by the Ministerio de Fomento, and that Department has forwarded to me the respective official receipt. I communicate this to you for your information, and remain, Yours, etc., etc. J. M. DURAN. 50 Document No. 13. [Translation.] ministry of fomento, colonization, industry and commerce, OF THE MEXICAN REPUBLIC. As the result of the petition addressed by you, under date of the 19th of December last, in the name of the " Mexican Pacifie Company," with regard to the amplification of the Decrees issued on the 15th of November, 1854, and the 27th of June, 1857, relative to the working of minerals in the States of Michoacan, Guerrero and Colima, His Excellency, the Consti tutional President, ad interim, of the Republic, has been pleased to resolve, in use of the ample faculties with which he is invested, as follows : Art. 1. For the working, of minerals to which the " Mexican Pacific "Company" has the right, in consequence of having been formed in virtue -of' the Decree of the 15th of November, 1S54, it is not indispensable to acquire the ownership of the tracts of land which may be selected in con formity with the same, it being sufficient that the said company indemnify, in conformity with the mining ordinancest the owner or owners of the land for that which may be required for the labor and works of the mines. Art. 2. The Company may give such extension as they may judge convenient to the mineral tracts that they may select, but without the number of the same exceeding twenty, and without the total extent of the land that they may occupy exceeding the number of square leagues fixed by Art. 1st, of the said Decree of the 15th of November, 1854. Art. 3. The said Company may export, free of duty, during the term of ten years, the ores which may be extracted from their mines, by the port of Sihuatanejo, and by the bays of Petacalco and La Salada, under the precise condition that the vessels that come from abroad to load with said ores, shall touch at the port of Acapulco, that of Manzanillo, or in any other port of those on the Pacific opened to foreign commerce, to the end that the Collector of the respective Custom-House may send in such ves sels the employee or employees that may be necessary, and take all proper steps to avoid fraud. 51 Art, 4. The vessels spoken of in the preceding article, shall pay ton- 'wage dues only upon such portion as shall correspond to the merchandise