Chap. 347.—An ACT to incorporate the New River Plateau railway
company.

Approved March 2, 1888.

1. Be it enacted by the general assembly of Virginia, That
Lewis T. Jennings, James N. Early, and D. W. Bolen, of the
county of Carroll; John W. Robinson and James A. Walker,
of Wythe; J. E. Moore, Lee 8. Calfee, and George T. Mills,
of Pulaski; and Joseph I. Doren, W. C. Bullit, and Evans R.
Dick, of Philadelphia, or such of them as may accept the pro-
visions of this act, their associates, successors, and assigns,
be and they are hereby incorporated and made a body politic
and corporate under the name style of the New River Plateau
railway company, and by that name shall be known in law,
and as such are authorized and empowered to locate, con-
struct, and operate a line of railroad from some point between
Pulaski city, in the county of Pulaski, and Ivanhoe, in the
county of Wythe, connecting with the Cripple creek exten-
sion of the Norfolk and Western railroad, and running
through the counties of Carroll, Grayson, Wythe, and Pulaski,
or any of them, to such point on the North Carolina line in
Carroll or Grayson as may seem most suitable to the direc-
tors of said company: provided, that no company organized
or operating under this charter, shall in the location or con-
struction of its road, acquire any exclusive right in the occu-
pancy of any mountain pass, creek, or river valley where it is
practicable to build more than one railroad.

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

3. The capital stock of said company shall not be less than
two hundred thousand dollars, and may from time to time,
with the consent of a majority of the stockholders, be in-
creased to an amount requisite for the purposes of the said
company by issue and sale of shares, the par value of which
shall not be less than fifty dollars, from time to time under
such regulations as the board of directors of said company
shall from to time prescribe; and the directors may receive
cash, labor, cmatavial: real and personal property suited to the
business of said company, in payment of subscriptions to the
capital stock at such valuations as may be agreed upon be-
tween the directors and the subscribers, and may make such
subscriptions payable in such manner or amounts at such
times as may be agreed upon with the subscribers.

4. It shall be lawful for the company to acquire by dona-
tions or purchase, land for right of way, depots, stations, and
other purposes necessary for the successful construction and
operation of its road through any of the counties where it is
authorized to construct its line of road.

5. It shall be lawful for said company to borrow money or
issue and sell its bonds from time to time, for such sums and
on such terms as its board of directors may deem expedient
and proper, and to secure the payment of said bonds by
mortgages or deeds of trust upon all or any portion of its
property, railroads and franchises.

6. The said corporation is authorized and empowered, by
such route or routes as it may select, to locate, construct,
equip and operate lateral or branch roads as may be neces-
sary for the accommodation of the public, and to bring out
ores of copper, iron and other minerals in the counties of
Carroll, Grayson and Floyd, or to connect with any other
railroad that is now or may hereafter be constructed in said
counties or in the adjoining counties in the state of North
Carolina.

7. The said company may acquire, by condemnation ac-
cording to the laws of Virginia, the lands required for the
right of way of its railroads, and the necessary stations and
depots for its operation, and may connect or unite its rail-
road with that of any other railroad company now or here-
after constructed in or to any of the counties hereinbefore
mentioned, or consolidate or merge its stock, property and
franchises with those of any company operating or author-
ized to operate a connecting line of railroad, not a competing
line, upon such terms as may be agreed upon by the board
of directors of the companies so uniting or consolidating;
and for that purpose power is hereby given to it and to such
other company or companies, to make and carry out such
contracts as will facilitate and consummate such connection,
merger or consolidation: provided that a copy of every such
contract of consolidation and merger be filed in the office of
public works: provided that no consolidation or merger shall
ever be made with any corporation not chartered by this
state.

8. The said company shall be required to commence the
construction of said railroad within two years from the pas-
sage of this act, and to complete the construction of the

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main line within five years thereafter, or otherwise the pow-
ers, privileges and franchises hereby granted shall be annuled
and become void.

9. The persons first named in this act, or such of them as.
shall accept the provisions thereof, shall have the power and
authority of a president and board of directors for the pur-
pose of organizing and all other purposes. They shall con-
stitute the board of directors for the first year, and shall con-
tinue in office until their successors shall be elected and quali-
fied. Each stockholder in the company shall, at all meetings
or elections, be entitled to one vote for each share of stock
registered in his name.

10. The board of directors shall be stockholders of said
company. They shall appoint one of their number president,
and may fill any vacancy that may occur in said board, un-
less by removal; in which case, the same shall be filled by
the stockholders in general meeting. Whenever twenty-five
per centum of the capital stock shall have been subscribed,
and the board of directors shall have elected a president,
said company shall be considered legally organized and may
proceed to the transaction of business.

11. The board of directors may establish offices and agen-
cies at such places as they may deem proper, but the principal
office of the company shall be located in this state.

12, All taxes due the commonwealth by said company
shall be paid in lawful money of the United States, and not.
in coupons.

13. This act shall be in force from its passage; but the
general assembly of the state of Virginia reserves to itself
the right to modify, alter or repeal this act at any time here-
after.