Chap. 175.—An ACT to incorporate the Chesterfield and James River
railroad company.

Approved May 10, 1887.

1. Be it enacted by the general assembly of Virginia, That
John Dunlop, Walter Hamilton, William T. Washburn, P. W.
Rhodes, George Bell, and such other persons and corporations
as they may associate with them and their successors, be and
they are hereby made and constituted a body politic and cor-
porate, by the name of the Chesterfield and James River
railroad company, and shall have all the powers, ri¢hts, and
franchises, necessary or proper for the purpose of ‘locating
constructing, equipping, maintaining, and operating a rail
road with such number of tracks as they may desire from
the coal ficlds near Midlothian, in Chesterfield county, Vir-
ginia, to any point on James river below the city of Rich-
mond, and not below Bermuda Hundreds, or to the said city
of Richmond, or to Port Walthall on the Appomattox river:
provided that it shall only acquire land on James river, or
east of the Richmond and Petersburg tarnpike from Man-
chester to where said turnpike crosses Kinyland creck, and
down said creek to its mouth, by gilt, purch: Ise, OF contract,
and only in sufficient quantity for actual railway terminal
uses.

2. Any four of the corporators hereinbefore named may
organize the company by clecting a president and board. of
directors, and may clect and appoint such other officers as
may be necessary for the proper manarement of said com-
pany’s affairs; and thereupon, they sh: ll have and exercise
all the eeneral powers and functions of a corporation, and be
subject to all restrictions imposed by the laws of the State,
applicable to internal improvement companies, except so far
as the same may be changed or moditied by this act.

3. The said company shall have authority in prosecuting
their work, to build their road or any part thereof, of any
guage or description, single or double track, and operate the
sume insuch manner as the said company may determine
and direct as best for their interest, with the right to change
or modify the guage, or otherwise alter the structure and
operation of their said road at any time as their means or
Interests may justify or require.

4. The capital stock of this company shall not exceed one
million dollars, to be divided into shares of the par value of
one hundred dollars each, and said stock may be all common
or such part or parts preferred, as said Company may from
time to time determine. Each share of stock shall be enti-
tled to one vote.

5. It shall be lawful for said company to acquire in sub-
scriptions to the capital stock of said compony, or by dona-
tions, money, lands, land or other damazes, work, labor, ma-
terials, property, bonds, or other means available for their
purposes, and to receive subscriptions from individuals, other
companies, associutions, or corporations, and the said com-
pany may sell, lease, or otherwise dispose of any lands or
propertics acquired under this section.

6. The directors of said company may open the books for
subscription of stock from time to time as they may deem
expedient, until the stock is fully taken, and instalments on
original subscriptions of stock, as well as those afterwards
received, shall be paid at such times and places and in such
amounts as said directors may prescribe.

7. The directors may receive in payment of any subscrip-
tion for stock in said company, any property adapted to the
construction, operation, or maintenance of said road, or which
by salo or exchange they deem may be converted to the use
of said road, or may receive all or any part of such subscrip-
tion in services, labor, and materials; and said board may
contract for services, labor, supplies, or materials for the con-
struction of said road or its appendages, or the equipping,
maintenance, and opcrating the same, and for property w hich,
or its proceeds, may be beneficial and useful to said company
in carrying out the objects of said company, and pay there-
for, wholly or partly, in the capital stock of said company.

8. The directors shall have power to issue bonds in sums
of one hundred dollars and multiples thereof, and bearing
interest not exceeding the rate of eight per centum per
annum, the principle and interest of which shall be payable
at such times and places as the board of directors may deter-
mine, and may secure the same by one or more mortgages or
deeds of trust on the road, franchises, incomes, and the real,
personal, and mixed property of the company, or such part
or parts thereof as may be designated in the mortgages or
deeds of trust, and may sell such bonds at such discount as
may be thought best for the benefit of the cémpany; and
said board of directors may confer on any bondholder of said
company the right to convert the principal due or owing on
such bond into stock of said company at any time, and said
board of directors may, from time to time, retire any of the
capital stock of said company as may be deemed best for the
interest of said company.

9. Said company shall have power to construct, maintain,
and operate branch roads, not extending twenty miles in
length from the main line of their aforesaid road, or from any
point or points thereon.

10. It sball be lawful for said company to subscribe for, or
purchase the stocks or bonds of any connecting railroad.

11. For the purpose of forming a continuous line of rail-
road to be operated under one management, without change
of cars or break of bulk, and for this purpose only the said
company may consolidate with the Brighthope company, or
any other railroad which is not a competing or parallel line.
And for the purpose aforesaid, and for that purpose only, it
shall be lawful for said company to construct, purchase, own,
lease, or operate any connecting railroad within the limits of
this State, provided the same is not a parallel or competing
line, upon such terms as may be agreed upon between the
parties; and in case of consolidation, such united or consoli-
dated company may have and exercise all and singular the
powers, rights, privileges, and franchises granted to the Ches-
terfield and James River railroad company under or by virtue
of the laws of this State. That the said company by the
acceptance of this charter, hereby agrees to pay all taxes,
dues, and demands due the State that may be hereafter
assessed against it, in lawful money of the United States and
not in coupons.

12. The construction of said road shall be commenced
within two years, and completed witbin six years after the
passage of this act, and betore the said work of construction
shall commence, at least fifty thousand dollars shall have been
subscribed to the stock and twenty per centum paid thercon.

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