Chap. 29.—An ACT to incorporate the Lynchburg, Halifax and North
Carolina railroad company.

Approved January 18, 1834.

1. Be it enacted by the general assembly of Virginia, That
John D. Holt, A. M. Davies, J. H. Franklin, John W. Daniel,
R. FE. Withers, John Perrow, J. N. Clement, M. B. Hayth, J.
H. Hobson, J. W. Clay, C. E. Moorefield, Dr. Hudnall, W. J.
Jordan, R. W. Watkins, H. A. Edmondson, John W. Riely,
N. T. Green, G. R. C. Phillips, R. E. Jordon, W. W. Coats, E
B. Jeffries, E. S. Barksdale, J. W. Easley, Thomas Whitehead,
William: E. Owen, W. H. Shepherd, J. V. Brooks, J. A. Me-
Craw, and P. C. Edmunds, or such of them as may accept the
provisions of this act, and such persons or Corporators as may
become associated with them in the manner hereinafter pro-
vided. shall be, and they are hereby made a body politic and
corporate by the name of the Lynchburg, Halifax, and North
Carolina railroad company, and by that name shall have all
the powers, rights, and franchises necessary and proper to
locate, Construct, equip, and maintain a standard or narrow
gauge railroad (as said corporators shall deem best); said
railroad to begin at, in, or near the city of Lynchburg, and to
run thence through Campbell county to Pannill’s bridge, or
to Brookneal, on the Staunton river; thence through the
county of Halifax via Halifax courthouse and South Boston,
toa point on the boundary line between the states of Virginia
and North Carolina, at or near the bridge across Hyco river,
near Harmony, or at such other point as said corporation
may agree upon in said county of Halifax.

2. The capital stock of said railroad company shall not be
less than one hundred and fifty thousand dollars, nor more
than two millions dollars, to be divided into shares of not
less than fifty dollars each; and whenever five hundred
shares shall have been subscribed, and ten per centum paid
thereon, under the direction of any five or more of the incor-
porators hereinbefore named, the subscribers or stockholders,
In person or by proxy, may organize the company by electing
a president, a vice-president, and a board of directors, and by
electing or appointing such other officers or agents, as may
he deemed necessary for the management of said company’s
attairs, and thereupon said company shall have and exercise
all the general powers, privileges, dnd functions of a corpora-
tion, and be subject to all the restrictions imposed by the
laws of the state, applicable to railroad companies, except 80
far as the same may be changed or modified by this act.

3. That before the rights hereby conferred shall become
vested, and before the actual work of construction shall com-
mence, at least twenty thousand dollars shali have been sub-
scribed to the stock, and twenty per centum paid thereon:
and provided further, that there shall be deposited with the
treasurer of the commonwealth, under his official bond, four
thousand dollars, either in money or bonds, approved by the
treasurer, to be held by such officer to the credit of the presi-
dent and board of directors of the said railroad company, and
subject to their order when and only after the like amount
of four thousand dollars has been expended upon the said
railroad, and the same so certified to the treasurer of the
commonwealth, by the railroad commissioner, whose duty it
shall be to make such examination and certificate, without
delay, upon application.

The capital of said company may be increased from
time to time by the board of directors, by and with the con-
sent of a majority of the stockholders, to such an amount as
they may deem for the interests of the company, not exceed-
ing the maximum amount of stock prescribed by this act ;
and the board of directors. by and with the consent of a major-
ity of itsstockholders, shall have power to issue bonds, bearing
interest not exceeding six per centum per annum, payable,
principal and interest, at such times and places, and in such
manner as may bedeemed most advantaeous to said company,
and may secure the same by one or more mortgages on the
road, franchises, income, and the real and person: al estate of
the company, or on such part thereof as may be designated
in said mortgage or mortyayes.

5. It shall be lawful tor any three of said incorporators to
open books of subscription to the capital stock of said com-
pany in the city of Lynchburg. town of South Boston, and at
such other points asa majority of said incorporators may
designate; and it shall be lawtul to receive subscriptions tor
the construction of said road, in money, land, labor, or mate-
rial, such as timber, stone, lumber, or other supplies required
in the construction of railroads.

6. Thesaid company shall have power to cross at grade,
unite or connect. with any line of railway now constructed,
or Which may be constructed in this state, or may acquire,
by lease or purchase, any line of railway now constructed, or
which may be constructed, in the state of North Carolina,
and for this purpose power is hereby granted to it, and to any
railroad company incorporated by this state, to make such
contracts as may be necessary or proper to carry out the pro-
visions of this section; and that the said company shall
always have its chief office in this state.

7. It shall be lawful for the said railroad company to re-
ceive subseriptions to its capital stock from any connecting

railroad company, or from any mining or manut: eturing
company, or from any county in Virvinia that may be inter-
ested in its construction; any such subscription by a county
to bo made in the manner and subject to the restrictions pre-
scribed by the general laws ot the state: provided the
counties of Halifax and Campbell shall not subscribe more
than one hundred thousand dollars each.

8. It shall be lawtul for the said company to construct,
equip, and maintain lateral or branch reads of any guage
whatever, not exceeding twenty miles in leneth, which shall
ive all the rights and powers, to be subject to the same re-
rictions as the main line.

9. The said company shall be subject to all the provisions
chapters fifty-six, fifty-seven and sixty-one of the Code of
rhteen hundred and seventy-three, and the acts of assembly
nendatory thereof, so far as the same may be applicable to,
dd are not inconsistent with the provisions of this act.

10. The said railroad shall be commenced within two years
«1 be completed within six years from the passage of this

t.
11. This act shall be in force from its passave.