Chap. 345.—An ACT to incorporate the Washington and Western
railroad company.

Approved May 21, 1887.

1. Be it enacted by the general assembly of Virginia, That
Marshall McCormick, Clarence H. Clark, F. J. Kimball, Win-
throp Smith, Frank P. Clark, William G. MacDowell, E. E.
Denniston, Holmes Conrad, and R. T. Barton, or such of
them as may accept the provisions of this act, their associates,
successors, and assigns, be and they are hereby incorporated
and made a body politic and corporate, under the name and
style of the Washington and Western railroad company, and
as such are authorized and empowered to locate, construct,
equip, and operate a railroad, commencing at a point on or near
the Potomac river opposite to or in the vicinity of Washing-
ton, District of Columbia, running thence to a point on the
line of the Shenandoah Valley railroad company, to be here-
after determined by the stockholders and directors of the
Washington and Western railroad company, witb the right
to extend the same to the West Virginia State line, by such
route as may be deemed most advisable by the directors ot
said company, and by that name shall be known in law.

2. The said company shall have perpetual succession, and
have power to sue and be sued, plead and be impleaded, de-
fend and be defended in all courts, whether in law or in
equity, and may make and have a common seal, and alter or
renew the same at pleasure, and shall have, possess, and en-
joy all the rights and privileges of a corporation or body
politic in the law and necessary for the purposes of this act.

3. The capital stock of the said company shall not be less
than fifty thousand dollars, and may from time to time be
increased to any amount not exceeding five millions of dol-
lars by issue and sales of shares, under such regulations as
the board of directors of said company shall prescribe, the
par value of which shall be not less than one hundred dol-
lars; and the directors may receive cash, labor, material,
bonds, stocks, rea] or personal property in payment of sub-
scriptions to the capital stock at such valuation as may be
agreed upon between the directors and the subscribers, and
may make such subscriptions payable in such manner or
amounts and at such times as may be agreed upon with the
subscribers; and whenever one hundred shares shall have
been subscribed to, and the sum of ten thousand dollars paid
in cash, the subscribers, under the direction of any five of
the incorporators hereinbefore named, who themselves sball
be subscribers, may organize the said company by electing a
president and board of directors, and by electing or provid-
ing for the appointment of such other officers as may be
necessary for the control and management of the business
and affairs of said company, and thereupon they shall have
and exercise all the powers and functions of a corporation
under their charter and the laws of this State.

4. It shall be lawful tor said company to borrow money
and issue and sell its bonds from time to time for such sums
and on such terms as its board of directors may deem expe-
dient and proper in the prosecution of any of its work, and
may secure the payment of said bonds by mortgages or deeds
of trust upon all or any portion of its property, real, per-
sonal, and mixed; its contracts and privileges, and its char-
tered rights and franchises, including its franchise to be a
corporation; and it may, as the business of the company
shall require, sell, lease, convey, and incumber the same.

5. It shall be lawful for said company to subscribe to and
hold shares in the capital stock of any mining, manufactur-
ing, or other corporation; and any mining, manufacturing,
or other corporation may subscribe to, guarantee, or hold
the stock or bonds of the said company.

6. Thesaid company is authorized and empowered to locate,
construct, equip, and operate any lateral or branch roads or
tramways not exceeding thirty miles each in length, which
a majority of its stockholders may determine to construct,
maintain, equip, and operate, and by,such route as may be
determined by its board of directors; and the said company
may connect or unite its said road with that of any other
sompany or companies, or consolidate and merge its stock,
property, and franchises with those of any other company or
‘ompanies operating or authorized to operate a connecting:
ine of railroad upon such terms and under such name as
may be agreed upon between the companies so uniting or
connecting, merging, or consolidating; and for that purpose
yower is hereby given to it and to such other company or
:ompanies to make and carry out such contracts as will facil-
tate and consummate such connection, merger, or consolida-
ion: provided that a copy of every such contract of consoli-
lation and merger be filed in the office of the board of public
v orks.

7. The company may acquire by condemnation, according
o the laws of Virginia, the lands required for the right of
vay of its railroad, and the necessary stations and depots
Or its operation.

8. The said company shall be required to commence the
onstruction of the said railroad within two years from the
assage of this act, and to complete the construction of its
nain line to the point of connection with the Shenandoah
Talley railroad company within twelve years thereafter;
therwise the powers, privileges, and franchises hereby
‘ranted shall be ipso facto void.

9. Each stockholder in the company shall at all meetings
xr elections be entitled to one vote for each share of stock
registered in his name. And the president and board of
directors of said company may enact such by-laws, rules, and
regulations for the management of the affairs of said com-'
pany as they may deem proper and expedient.

10. The board of directors sball be stockholders of said
company, and shall consist of such number as the stockholders
may determine upon, and shall be elected at the stockholders
annual meeting, to be beld on such day as the by-laws of the
company may dircct, and shall continue in office for the term
of one year from and after the date ot their election; and
until their successors are elected and accept the duties of the
office, and they shall appoint one of their number president.
And in case of the death, resignation, or incapacity of any
member of the board of directors during his term of office,
the said board shall elect his successor for the unexpired
term.

11. Any county, town, or city along the line of said rail-
road, or any county adjoining another county through which
such line passes, may, pursuant to the general laws of Vir.
ginia, subscribe to the capital stock of the said railroad com-
pany, and the said company is authorized to accept the same.

12. Whenever the corporation shall exercise any of the
privileges conferred by this act, it shall be liable to the same
taxcs as may be imposed by the law upon other like incorpo-
rations or persons exercising like priviliges; and all taxes
due the commonwealth by said company shall be paid in law-
ful money of the United States and not in coupons.

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