Chap. 371.—An ACT to incorporate the New River and Chambers
Valley railroad company.

Approved March 10, 1884,

1. Be it enacted by the general assembly of Virginia, That
James Early, James E. Clayton, James B. Johnson, James
Wilkinson, John Wilkinson, Norman Hale, H. Branscorne,
Thomas Dalton, E. Marshall, G. W. Jennings, Lewis T. Jen-
nings, J. L. Early, M. T. C. Mitchell, J. W. Smith, R. J.
Harris, W. H. Sutherland, J. Lee Johnson, Martin Dalton,
W. R. Gardner, C. F. Worrell, D. B. Brown, W. A. Moore, J.
F. Moore, C. C. Worrell, John W. Robinson, I. B. Coltrane,
D. W. Bolen, and Joseph S. Tipton, or such of them as may
accept the provisions of this act, and such other persons and
corporations as may become associated with them in the
manner hereafter provided, shall be, and they are hereby
constituted a body corporate by the name of the New River
and Chambers Valley railroad company, and by that name
shall have all the powers, rights, and franchises necessary
and proper to construct, equip, and maintain a railroad,
either standard or narrow-gauge, to be known as the New
River and Chambers Valley railroad, and to be run from
some point on the Norfolk and Western railroad, between
New river bridge, in Montgomery county, and Wytheville,
in Wythe county, or from some a on the Norfolk and
Western extension route between New river bridge and Van
Lieu’s Kurnace, in Wythe county, through the county of
Carroll, by way of Hillsville, to Mount Airy, in the state of
North Carolina.
2. The capital stock of said company shall not be less than
one hundred thousand dollars, nor more than one million and
five hundred thousand dollars, to be divided into shares of
one hundred dollars each, each share being entitled to one
vote; and it shall be lawful for the persons hereinbefore
mentioned, or any ten of them, to organize said company
by the election of a president and board of directors, and
such other officers as may be necessary; and thereupon they
shall have and exercise all the general powers and functions
of a corporation, and be subject to all the restrictions imposed
by the laws of the state applicable to internal improvement
companies, except so far as may be modified by this act.
Any other railroad company may, with the assent of this
company, subscribe to the said stock, and subscriptions may
be made in either money, materials, or unimproved land.

3. The board of directors shall have power to issue bonds
in the sum of not less than one hundred dollars each, bearing
interest at not exceeding six per centum per annum, the
principal and interest payable at such times and places as
the board of directors may determine, and may secure the
same by one or more mortgages on the road, franchises, and
incomes, and real and personal property of the anid compeny,
or such parts thereof as may be designated in the mortgaves,
and may lease its rolling-stock and equipments, or any of
them, to any other company.

4, Suid company shall begin work in two years, construct
its road to Hillsville in five years, and complete the same in
seven years from the passage of this act; and such work of
construction shall not be begun until at least twenty per

centum of the minimum amount of capital,stock shall have
been paid up in cash.

5. That the said company, by the acceptance of this char-
ter, hereby agrees to pay all taxes, ducs and demands due the
state that may be hereafter assessed against it, in lawful
money of the United States, and not in coupons.

his act shall be in force from its passage.