Chap. 215.—An ACT to incorporate the Petersburg street railway.
Approved March 1, 1884.

Whereas George Beadle, late of the city of Syracuse, in
the state of New York, acting under an authority duly
nted to him by the common council of the city of Peters-
urg, has laid down and is now operating in said city a street
railway; and whereas said Beadle wishes to have a charter
incorporating himself and other persons into a company to
which all of the property, rights, and franchises now owned
by said Beadle shall be transferred, and which shall hereafter
maintain and operate said railway; therefore,

1. Be it enacted by the general assembly of Virginia, That
said George Beadle, Prank G. Beadle, David B. Dugger, Frede-
rick P. Leavenworth, and David M. Bernard, Jr., and such
other persons as may hereafter be associated with them, and
their successors, be, and they are hereby constituted a body
corporate, under the name and style of Petersburg Street

i

way.

2. The said street railway corporation shall have authority
to purchase from said George Beadle, all of the property, real,
personal, and mixed, used by him in operating said street
railway, and all rights, privileges, and tranchises granted to
and enjoyed by him under the ordinance adopted by said
common council on the third day of November, in the year
eighteen hundred and eighty-two, entitled an ordinance
authorizing the construction and operation of a street rail-
way, and under all ordinances amendatory thereof subse-
quently adopted by said council, and after acquiring said
property, rights, privileges, and franchises, said corporation
shall be entitled to hold and enjoy the same in all respects as
the same shall be held and enjoyed by said Beadle at the
date of the transfer, and shall further have authority to con-
struct and operate a street railway in any of the streets and
highways of said city, subject to the provisions of said ordi-
nances. But before constructing any track upon any street
or highway of said city, the consent of said common council
must be first obtained.

3. Said corporation shall have authority to extend its rail-
way beyond the limits of said city into all or any one or more
of the three counties adjacent to said city, but before con-
structing or operating said railway upon any highway of
any of said counties leading into said city, the consent of the
county court of such county must be obtained.

4. Whatever property, rights, privileges, and franchises
said corporation may acquire under the transfer to be made
by said George Beadle, or may hereafter acquire, it may
lease or sell, and the lessee or vendeo may hold and enjoy
the same just as said corporation shall hold and enjoy the
same at the time of such lease or sale.
5. If the said corporation shall deem it necessary at any
time, it may borrow money at a rate of interest not exceed-
ing six per centum per annum, payable semi-annually, and
may give the notes or bonds of the corporation therefer.
Said bonds may be issued with or without coupons for the
instalments of interest payable thereon. The corporation
may execute deeds of trust, or mortgages conveying all or
any part or parts of its property, privileges, rights, and fran-
chises in trust to secure whatever notes or bonds it may so
issue.

6. The capital stock of said corporation shall not be less
than fifty thousand dollars, nor more than three hundred
thousand dollars, and shall be divided into shares of one hun-
dred dollars each. Subscriptions to said capital stock may
be made and received in property, real, personal or mixed, at
such valuation as may be agreed upon between the board of
directors and the subscribers.

7. Said George Beadle shall be the president, and said
George Beadle, Frank G. Beadle, David B. Dugger, Frederick
P. Leavenworth, and David M. Bernard, Jr., shall be the
directors of said corporation, and shall each continue in
oftice until his successor shall be duly elected, and shall enter
upon the dutics of his office. The president of said corpora-
tion shall be ex-officio a director thereof. Any vacancy which
shall occur in the office of president or director of said cor-
poration, shall be filled by the remaining members of the
board, and the person so elected shall hold office until his
place shall be filled by the stockholders in general meeting
assembled.

8. This act shall be in force from its passage.