Chap. 129.—An ACT to Incorporate the West Point and Hanover
Junction Railroad Company.

Approved March 27, 1874.

1, Be it enacted by the general assembly of Virginia, That
B. B. Douglass and R.S. Ryland, of King William county;
William D. Quesenbury, of Caroline county; John Pollard,
9

ay

of King and Queen county; Edward Boyle, Henry Smith,
Frank Kinney, Sheridan Shook and 8. R. Kane, of the city
and state of New York, their associates and successors, be
and they are hereby incorporated and made a body politic
and corporate, by the name and designation of The West
Point and Hanover Junction Railroad Company, for the pur-
pose of building, equipping and operating a railroad from

anover Junction, in the county of Hanover, to West Point,
in the county of King William.

2. That said company, when fully organized, shall have a
common seal, sue and be sued by its corporate name, and be
otherwise invested with all the powers, rights and privileges,
and subject to all the duties, restrictions, liabilities and re-
sponsibilities imposed by the laws of Virginia on railroad
companies. |

3. That the capital stock of said railroad company shall
not, except as is hereinafter provided, exceed the sum of one
million dollars, to be divided into shares of fifty dollars each ;
but said company shall, if found necessary to complece, fully
equip and put their road in operation, have power to issue
its bonds and secure the same by mortgage on its property
and franchise to the further amount of one million dollars:
provided, that no greater rate of interest than ten per cent.
shall be stipulated to be paid thereon, nor shall said bonds be
disposed of for less than sixty-six and two-thirds per centum
of their face or par value.

4, That said company may receive subscriptions to its

Stock in both real and personal estate other than money; but

all real estate so received shall be disposed of within twenty
years from the completion of the road, and thereafter said
company shall not acquire or hold any more land or other
real estate than shall be absolutely necessary for its use in
the location and erection of depots, station houses, shops and
wharves, with the usual breadth of land allowed along its
road bed; and all personal estate received as subscription
for stock, shall be disposed of within two years after the ac-
ceptance thereof by the company, and the proceeds applied
in the same way as if the original subscription had been in
money.

5. That said company, after said road is completed, may,
with the concurrence of two-thirds of all the stock in a gen-
eral meeting of the stockholders called for that purpose, and
advertised for thirty days in some newspaper published in
the town of West Point or in the city of Richmond, increase
its capital stock to the further amount of one million of dol-
lars, to be divided into shares as is hereinbefore provided for,
to be used in building, purchasing, or chartering and running
vessels, propelled by steam or sails, from its terminus at
West Point to any port or ports within the jurisdiction of
the United States.

6. That said company may organize under this charter so
soon as one hundred thousand dollars have been subscribed
and ten thousand dollars actually paid up on subscriptions to

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