Chap. 84.—An ACT to amend and re-enact an act approved February
12, ISS6, entitled an act to incorporate the Roanoke and Southern
railway company.

Approved April 28, 1887.

1. Be it enacted by the general assembly of Virginia, That
an act approved February twelfth, cighteen hundred and
eighty-six, entitled an act to incorporate the Roanoke and
Southern railw ay company, be amended and re-enacted so as
to read as follows:

§1. Be it enacted by the general avast al of Virginia,
That J. M. Gambill, D. F. Houston, | . H. Stewart, J.C.
Moomaw, J. D. Kirk, T. T. Fishburne, D. C. Moomaw, J. A.
Gale, Most M. Rogers, T. W. Miller, L. H. Cocke, George P.
Tayloe, W. G. vans, W. K. Andrews, J. M. Harris, and
Thomas Enyleby, and such other persons as they may asso-
ciate with them, shall be and are hereby created a body poli-
tic and corporate under the name of the Roanoke and South-
ern railway company, under which name it may sue and be
sued in all the courts of this commonwealth, or others haviag
jurisdiction of matter within its corporate powers, and shall
have perpetual succession, and may bave a corporate seal,
and alter and renew the same at pleasure, and may make
by-laws, rules, and reculations not inconsistent with the laws
of this commonwealth for the government of all under its
authority.

§2. The said company upon organization as herein pro-
vided, shall have all the powers, rights, and franchises neces-
sary and proper to locate and construct, equip, and maintain
a railroad and telegraph line from the city of Roanoke, in the
county of Roanoke, through the counties of Roanoke, Frank-
lin, Patrick, or Henry, to a point on the line between the
State of Virginia and the State of North Carolina.

§3. The capital stock of said Roanoke and Southern rail-
way company shall not exceed three million dollars to be
divided into shares of one hundred dollars each; each share
subscribed shall be entitled to one vote in all mectings of the
stockholders of said company, and twenty-five thousand dol-
lars shall be the minimum subscription on which said com-
pany may be organized.

§4. That J. M. Gambill, D. F. Houston, J. C. Moomaw, E.
H. Stewart, J. D. Kirk, T. T. Fishburne, Most M. Rogers,
George P. Tay loe, T. W. Miller, and W. K. Andrews, or any
six of them, may, a8 Commissioners, receive subscriptions to
the capital stock of said company.
&5. It shall be lawful for the county or city of Roanoke,
county of Franklin, town of Rocky Mount, county of Henry,
town of Martinsville, county of Patrick, town of Stewart, or
any or all of them to subscribe for and hold stock in the said
company, and whenever such subscriptions shall be author-
ized by a vote of the people of such counties, cities, or towns
as provided by the laws of the State of Virginia, and to make
payments of such subscriptions so authorized, it shall be law-
ful for the bonds of said counties, city, and towns to be issued,
and to secure the payment of the principal and aceruing in-
terest of such bonds by a special tax to be levied by such
counties, city, and towns sufficient to pay such accruing inter-
est, and to provide a sinking fund adequate to the ultimate
payment of said bonds at their maturity. It shall be lawful
for any railroad, mining, or manufacturing Company, or any
construction company, whether chartered” or not, operating
in the State of Virginia or any other State, to subscribe and
hold stock in said company. The said company may receive
subscriptions to its capital stock from private persons as well,
and from any of its subscribers to the capital stock, it may
receive In payment of such stock, lands, minerals. timbers,
quarrics, or any other substance of which it can legitimately
make use in the construction or operation of said road.

§6. The board of directors of said company shall be elected
by the stockholders in such manner for such term of oftice,
and in such number as shall seem to such stockholders best:
provided the number of directors shall always bear a fixed
ratio or proportion to the amount of stock subscribed, and all
votes given by such directors shall bear a lke ratio, propor-
tion, and value. The president of said company shall be
elected by the directors thereof to serve a term of years to be
fixed by said directors, and a vacancy in the office of presi-
dent shall be filled by such directors, but always to fill the
unexpired term of his predecessor. The principal office of
said company shall be at the city of Roanoke.

§7. It shall be lawful for the said Roanoke and Southern
railway company to issue bonds for an amount not exceeding
thirty thousand dollars per mile of its road bed, and to secure
payment of interest and principal of the same by a mortyage
or mortgages upon the road bed, right of way, franchises, “and

other property of said company.

§8. The said company may consolidate its stocks, fran-
chises, and property with those of any railroad that now is or
may hereafter be constructed to the city of Roanoke or the
town of Martinsville, or with the Roanoke and Southern rail-
way company, chartered by the laws of North Carolina, or
with any duly chartered company with which the company
last named may hereafter consolidate its stock, franchises,
and property, upon guch terms as may be agreed upon by the
companies proposing to consolidate : provided, that it shall
not consolidate with any parallel or competing line: and pro-
vided further, that if it shall consolidate with a foreign cor-
poration, the consolidated company shall always remain a
Virginia corporation in regard to the rights of suing or being
sued.
§9. The work on this road shall be commenced within two
) years and be completed within ten years from the passage of
the original act of incorporation,

$10. The said company shall have power to acquire and
own by gift, grant, or purchase, as well as by any other pro-
ceedings nret hia by law. any road bed, right of way, or
Other property proper for the purposes of said company, and
it may acquire, own, Operate, or lease any quarries, mines,
coul beds, lumber yards, or furnaces in any of the counties,
cities, or towns through which its road may pass, or in any
adjoining county, and to build branch roads not exceeding
twenty miles in length each, to any quarries, coal beds, mines,
lumber yards, or furnaces so owned, operated, acquired, o
leased.

§ 11. The said company shall have power to cross at, above
or below grade, or connect with any line of railroad now con-
structed or that may hereafter be constructed within the
State of Virginia.

$12. The ‘said company sball pay all its taxes, debts, or
demande due the State of Virginia in legal tender currency
of the United States; and the ‘wencral assembly reserves the
right to alter, amend, or repeal this charter.

/ 2. This act shall be in force from its passage.