Chap. 48.—An ACT to incorporate the Chesapeake, Norfolk and
Carolina railway company.

Approved January 21, 1886.

1. Be it enacted by the general assembly of Virginia, That
John Callahan, R. C. Marshall, H. T. Wickham, John F. De-
zendorf, and Thomas Marshall, their associates, successors and
assigns, be and they are hereby made and declared a body p8-
litic and corporate, by the name and style of the Chesapeake,
Norfolk and Carolina Railway Company, for the purpose of
locating, constructing, equipping, maintaining and operating a
railway from some suitable point on either side of the Eliza-
beth river, at or near the cities of Norfolk or Portsmouth, Vir-
ginia, to some suitable point on the line. between_the States of
Virginia and North Carolina, east of where the Roanoke river
crosses the said line.

2. Said company may build its road by such route as it may
deem most advantageous and expedient, and shall have the
right to cross any navigable stream or canal in its route, pro-
vided a draw sufficient not to impede navigation is placed in
its bridges over such streams or canals.

3. Said company shall have, subject to the provisions of sec-
tion twenty-five, chapter fifty - six of the Code of. Virginia of
eighteen hundred and seventy-three, the right to cross at grade
over or under, intersect, join or unite its railway with any other
railway now built or constructed, or hereafter to be built or
constructed, at any point in its route upon the grounds of such
railway company, with the necessary turnouts, sidings, switches,
and other conveniences, in furtherance of the object of its con-
struction. .

4. The said Chesapeake, Norfolk and Carolina railway com-
pany may, with the consent of the authorities of the state of
North Carolina, extend its road to such points within that state
as it may select.

5. Thesaid Chesapeake, Norfolk and Carolina railway com-
pany shall have perpetual succession and a common seal, which
it may renew or alter at pleasure; and it shall be entitled to all
the rights and privileges conferred, and subject to all the re-
strictions imposed by the laws of Virginia, so far as the same
are applicable and not inconsistent with this act.

6. It shall be lawful for said company to acquire, in subscrip-
tions to the capital, stock of said.company, or by donation,
money, lands, land or other damages, labor, work, material,
bonds, or other means available for their purpose, and to re-
ceive subscriptions from individuals, other companies, associa-
tions or corporations: provided, that corporations chartered
under the laws of Virginia, and doing business within the limits
of this commonwealth, shall not be allowed to make such sub-
scriptions; and the said company may sell, lease, or otherwise
dispose of any lands or properties acquired under this section:
provided, this section shall not be so construed as to authorize
said company to acquire, by purchase or otherwise, in any
county or corporation, more land than is necessary for the oper-
ation of said company as a common carrier.

7. It shall be lawful for any incorporated company to, aid in
the construction of said railway, and for that purpose may ac-
quire the bonds of said company; and it may run, use or oper-
ate, by lease or otherwise, any railway or transportation line
upon such terms as may be agreed upon.

28. The capital stock of the said company shall’ be one mil-
lion dollars, divided into shares of one hundred dollars each.
In all meetings of the stockholders each share shall be entitled
to one vote. Said company may, with the consent of a ma-
jority of its stockholders, increase its capital stock, from time
to time, to an amount necessary for constructing and operating
such railway; such increase to be made at a regular or called
meeting for the purpose, and upon such notice as may be ne-
cessary and proper.

g. Said company shall have power to borrow money to such
an amount as it may deem proper and necessary, and to issue
for any loan, debentures, or bonds of the’ company, bearing
interest at such rates per annum as the company may deter-
mine. Said debentures may be expressed in dollars or pounds
sterling; and to secure payment of such loan or loans, said
company may execute one or more mortgages or deeds of trust
on the whole or any part of its property, real, personal and
mixed—its charter rights, franchise and income.

10. The corporators herein mentioned shall have the power
and authority of a president and board of directors, for the
purpose of organization of said company, and for all other pur-
poses, until a president and board of directors shall be selected
at a stockholders’ meeting; and such meeting shall be held
after such notice as the said incorporators may deem proper.
The said corporators may elect one of their number chairman,
who shall have all the power and authority of president of said
company, and in all matters a majority of said incorporators
shall control.

11. The said Chesapeake, Norfolk and Carolina railway com-
pany shall commence work under this bill within one year, and
complete the same within five years from the passage of this
act, otherwise this act shall be null and void.

12. This charter shall at all times hereafter be subject to
amendment or repeal, at the pleasure of the general assembly;
and that said corporation takes and accepts this charter of in-
corporation upon the express understanding and condition that
the said corporation will pay all taxes, dues and demands due
the State at any time hereafter in lawful money of the United
States, and will not tender.or pay coupons therefor.

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