Chap. 321.—An ACT to authorize the Richmond and Louisville Rail-
road Company, to transfer to the Iron Belt Railroad Company, a part
of its franchises, rights, privileges and property.

Approved March 7, 184.

Whereas the Virginia, Kentucky and Ohio narrow-gauge
railroad company was, by an act approved February twen-
tieth, cighteen hundred and seventy-eight, authorized to
build a branch road, starting at or near the brick church, on
Kimberling creck, just below the gap in the Brushy moun-
tain, by the most practicable route through the counties of
Bland and Smyth, by the way of the Plaster banks to the
Salt works, so as to reach any mines, land, or manufactories
owned by said company; and whereas the said Virginia,
Kentucky and Ohio narrow-gauge railroad company, secured
certain subscriptions, grants, rights of way, and privileges
along said line, to aid in constructing the same; and whereas
the qualified voters of Smyth county did, at an election held
on the twenty-sixth day of May, eighteen hundred and
eighty-one, authorize the board of supervisors thereof, to sub-
scribe as much as twenty thousand dollars to the capital
stock of the Virginia, Kentucky and Ohio narrow-gauge rail-
road company, upon certain terms and conditions, to aid in
the construction of said branch railroad; and whereas the
said Virginia, Kentucky and Ohio narrow-gauge railroad
company, consolidated it franchises, rights, privileges and
property with the Richmond and Southwestern railway com-
pany, under the name of the Richmond and Louisville rail-
road company, which consolidation was ratified and confirmed
by an act of the general assembly of Virginia, approved Jan-
uary twentieth, cighteen hundred and eighty-two; and
whereas the said Richmond and Louisville railroad company
is desirous of being released from the construction of said
branch railroad, and the Lron Belt railroad company is
desirous of constructing said railroad from or near Saltville,
in the county of Smyth, to Rocky gap, in the county of
Bland; and whereas the people of Smyth county are deeply
interested in, and desire to aid in building a railroad from
Saltville up Rich valley; and whereas all the supervisors of
said county, and the county judge tbercof, on bebalf of the
people, have petitioned this general assembly to authorize
said subscription to be transferred to the [ron Belt railroad
company ; therefore,

1. Beit enacted by the general assembly of Virginia, That
the Richmond and Louisville railroad company be and it is
hereby authorized to transfer to the Iron Belt railroad com-
pany that part of its franchise which authorized the Vir-
ginia, Kentucky and Ohio narrow gauge railroad company
to build a branch road, starting at or near the brick church
on Kinberling creek, just below the gap in Brushy mountain,
by the most practicable route, through the counties of Bland
and Smyth, by way of the Plaster banks to the salt works.
together with all rights, privileges, yrants, subscriptions and
rights of way taken, made, granted, given or authorized to be
made to the said Vi iryinia, Kentucky and Ohio narrow gauge
railroad company, and the said Richmond and Southwestern
railway company, and the said Richmond and Louisville
railroad company, upon such terms as may be agreed upon
between the Richmond and Louisville railroad company and
the Iron Belt railroad company ; and the Iron Belt railroad
company is hereby authorized to merge and consolidate the
same into and with its own rights, privileges and franchises ;
and when said transfer, merger and consolidation has been
made, the Iron Belt railroad company and its successor shall
have and succeed to all the rights, property, privileges and
subscriptions granted, given, made and authorized to be made
and transferred as aforesaid, the same as if they had been
originally made to and with the said Iron Belt railroad com.
pany; and the board of supervisors of Smyth county are
hereby authorized and empowered, with the consent and ap-
proval of the judge of the county court of Smyth county, on
behalf of the said county, to subscribe the sum of twenty
thousand dollars, or any part thereof, to the capital stock of
said Iron Belt railroad company, the same as they were
authorized to make to the Virginia, Kentucky and Ohio nar-
row gauge railroad company, to aid in the construction of
suid railroad. Said subscr iption shall be made upon the same
terms and conditions as the original subscription was to have
been made to the said Virginia, Kentucky and Ohio narrow
gauge railroad company, as near as may be consistent with
the law in reference to this subject, and in justice to said Tron
Belt railroad company.

2. In case of repeal of the present law authorizing counties
to tax railroads, the supervisors of Smyth county are hereby
authorized and empowered to levy and have collected. as
other county taxes are, a tax on the property and franchises
of said Iron Belt railroad company within said county, at a

rate not exceeding that which may at the time be levied by
the supervisors of said county upon the real and personal
property in said county. The basis of assessment of said

railroad property and franchises for such purpose shall not
exceed fifteen thousand dollars a mile for each mile of said

railroad in said county, which is the present basis of assess-
ment by the state, the same to be fixed by said supervisors :
provided that the right to tax said railroad under this section
shall cease when all liability on the part of Smyth county,
arising out of said subscription, shall have been extinguished :
and provided further, that this section shall not be construed
so as to exompt said Iron Belt railroad company from the
payment of any tax imposed upon it under the general laws
of this commonwealth at any time.

3. This act shall be in force from its passaye.