Chap. 62.—An ACT to incorporate the James River and Nerth Caro-
lina Railroad Company.

In foree January 28, 1884.

1. Be it enacted by the general assembly of Virginia,
That Jesse S. Burks, Samuel M. Bolling, Thomas D. Berry,
James M. Matthews, George T. Cauthorn, Edward H. Myler,
George D. Wright, Robert B. Claytor, William Graves,
Robert F. Robertson, Thomas M. Bowyer, John R. Thurman,
John A. Lazenby, S. Griffin, Joseph M. Johnson, Benjamin
H. Moulton, William A. Wingfield, Benjamin U. Hutcher,
Peter Saunders, George E. Dennis and George Williamson,
and their associates and successors, be and they are hereby
constituted and made a body corporate and politic by the
name and style of The James River and North Carolina Rail-
road Company, and by that name and style shall have all the
rights and powers and privileges conferred, and be subject to
all the provisions of chapters fifty-six, fifty-seven and sixty-
one of the Code of eighteen hundred and seventy-three, so
far as the same may be applicable to and not inconsistent
with this act.

2. The capital stock of said company shall not be less than
one hundred thousand nor more than ten millions of dollars,
divided into shares of one hundred dollars each ; and for the
purpose of obtaining subscriptions to said capital stock, any
five of the persons named in the foregoing section may open
books of subscription at such times and places as they may
appoint.

3. The annual mecting of the stockholders in said company
shall be held at such time and place as the stockholders, in
annual meeting, may appoint, and at all meetings of atock-
holders, subscribers who have paid all calls on their stock
theretofore made, shall be entitled to one vote for each share
of stock held by such subscriber, which vote shall be cast in
person or by proxy.

4. The said James River and North Carolina Railroad
Company is hereby authorized and empowered to construct,
operate and maintain a railroad from some point on the Rich-
mond and Alleghany railroad, between Lynchburg and Lex-
ington, to the town of Liberty, and thence through the coun-
ties of Bedford, Franklin and Henry, to some suitable point
on the North Carolina line, or through the county of Patrick
to some such point; and the company shall have power to
purchase and hold mineral lands tor the purpose of working
the same, in order to furnish tonnage to its road and to lease
or sell the same: provided that suc ‘h company shall only hold
such lands in the counties through which said road passes,
and shall not hold more than twenty thousand acres at any
one time in any one county.

5. The said company shall have power to unite, consoli-
date, or connect. its railway with any line of railway which
has been constructed or is now in process of construction in
this state. upon such terms as may be agreed upon between
it and such other railway company, and for this purpose
power is hereby granted to it, and to any railway company
incorporated by this state. to make and “urry out such con-
tracts by lease, purchase, or otherwise, as will facilitate and
consumate such connection or consolidation. A copy of any
such agreement of consolidation shall be filed by said com-
pany with the secretary of the commonwealth within sixty
days after the same is made.

6. Any raibvay or other transportation company with
which said James River and North Carolina Railroad Com-
pany may connect, is hereby authorized to subscribe to the
capital stock of said company, and the stock so subscribed,
shall have the same privileges and powers, and be subject to
the same conditions and regulations as the stock held by
other stockholders therein.
7. It shall also be lawful for the counties and towns
through which said road may be constructed, in their corpo-
rate capacities, to subscribe to the capital stock of the said
James River and North Carolina Railroad Company when-
ever such subscriptions shall be authorized by a vote of the
peuple of such counties and towns, as provided by the laws
of the state of Virginia; and to make payment ot any such
subscriptions so authorized. It shall be lawful for said coun-
ties and towns to issue bonds and to secure the payment of
interest and principal of the same by a special tax upon such
subjects as are taxable by the state of Virginia, sufficient to
pay current interest thereon and to provide a sinking fund
adequate to the ultimate discharge of the principal thereof at
maturity.

8. The said company is also authorized, from time to time,
to borrow such sums of money as may be necessary for its
purposes, and for such loans to issue its bonds, bearing in-
terest not exceeding six per centum per annum; to sell, ex-
change and hypothecate said bonds on such terms as it may
deem advisable, and to secure the said bonds and interest
thereon by deed of trust or mortgage, conveying its works,
property and franchises, in whole or in part.

9. The said company is required to commence work on
said road within two years, and to complete the same within
seven years from the passage of this act.

10. This act shall be in force from its passayve.