Chap. 166.—An ACT to incorporate the Madison Court-house and
Orange Railroad Company.

Approved February 18, 1886.

1. Beit enacted by the general assembly of Virginia, That
John W. Taylor, W. J. Cave, W. K. Skinker, H. W. Gordon,
James Hay, Joseph M. Fray, John C. Utz, C. E. Kite, W. M.
Early, John J. Clore, Joseph N. Miller, Albert Aylor, James
N. Blankenbeker, senior, B. Malone, George Booton, and J.
Walker Jones, or any nine of them, and such other persons as
they may associate with them, be and they are hereby declared
a body politic and corporate, by the name and style of the
Madison Court-house and Orange Railroad Company, and as
such shall have authority to construct and equip a railroad from
some point in or near the town of Madison court-house, in the
county of Madison, to such point in the county of Orange as
the board of supervisors of Orange county may authorize and
permit, and to cross, at gradey unite, consolidate, and connect
with any railroad, or branch thereof, which may be deemed
necessary to the completion and successful operation of the
Madison court-house and Orange railroad company.

2. The capital stock of said company shall not be less than
fifteen thousand dollars nor more than eighty thousand dollars,
to be divided into shares of one hundred dollars each; and
stockholders shall have one vote for each share of stock in all
meetings of stockholders.

3. The right to the franchises granted by this charter shall
vest, as soon’as the minimum capital, namely, of fifteen thou-
sand dollars, shall have been subscribed, when the corporators
may call a general meeting of the stockholders; at such meet-
ing, if a majority of the shares be represented in person or by
proxy, a board of not less than five nor more than nine direc-
tors shall be elected, who shall elect a president and treasurer.
The said officers, so elected, shall continue in office one year,
unless removed.

4. The road shall be of any guage which the said board of
directors may determine.

5. The said company may acquire lands for the purposes of
a right of way, and for the erection of necessary buildings for
stations and depots, and to this end may condemn and pur-
chase, in accordance with the laws of Virginia, land for its
road-bed, depots and stations,

6. When fifty per centum of the minimum capital stock shall
have been actually paid in, the said company shall be author-
ized, in order to raise means to construct or equip said road,
to borrow money upon the faith of the property and franchises;
to issue its bonds therefor, secured by such deeds of trust or
mortgage as may be necessary; said bonds to be sold upon
such terms as may be agreed upon by the board of directors.

7. The said road shall be completed, equipped and put into
operation within five years from the passage of this act.
8. All dues, taxes and demands due the commonwealth, shall
be paid in lawful money of the United States, and not in
coupons.

_ g. This charter shall be subject to repeal or amendment, at
the pleasure of the general assembly.

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