Chap. 83.—An ACT to amend and re-enact an act to incorporate the
Madison Courthouse and Orange railroad company, approved Feb-
ruary 18, 1886.

Approved February 3, 1888.

1. Be it enacted by the general assembly of Virginia, That
an act entitled an act to incorporate the Madison Courthouse
and Orange railroad company, approved February eighteenth,
eighteen hundred and eighty-six, be amended and re-enacted
so as to read as follows: That W. J. Cave, John W. Taylor,
B. M. Buckner, H. W. Gordon, James Hay, Joseph M. Fray,
John C. Utz, C. E. Kite, W. M. Early, John J. Clore, Joseph
N. Miller, Albert Aylor, James N. Blankenbaker, senior, B.
Meloni, George Boqton, J. Walker Jones, and William Lovell,
or any nine of them, and such other pereons as they may as-
sociate with them, be and they are hereby declared a body
politic and corporate by the name and style of the Madi-
son Courthouse and Orange railroad company, and as such
shall have authority to construct and equip a railroad from
some point in or near the town of Madison Courthouse in the’
county of Madison, to such point in the county of Orange as
the board of directors of said company may select, and to
cross at grade, unite, consolidate, and connect with any rail-
road or branch thereof which may be deemed necessary to
the completion and successful operation of the Madison Court-
house and Orange railroad company.

2. The capital stock of said company shall not be less than |
fifteen thousand dollars nor more than two hundred and fift
thousand dollars, to be divided into shares of twenty-five dol-
lars each, and stockholders shall have one vote for each share
of stock in all meetings of stockholders.

3. The right to the franchises, granted by this charter,
shall vest as soon as the minimum capital, namely, of fifteen |
thousand dollars, shall have been subscribed, when tho cor-
porators may call a general meeting of the stockholders; at
such meeting, if a majority of the shares be represented, in
person or by proxy, a board of not less than five nor more
than nine directors ‘shall be elected, who shall elect a presi-

a os
dent and treasurer. The said officers so elected shall con-
tinue in office one year, uniess removed.

4. The road shall be of any gauge which the said board of
directors may determine.

5. The said company may acquire lands for the purposes
of aright of way, and for the erection of necessary build-
ings for stations and depots, and to this end may condemn
and purchase, in accordance with the laws of Virginia, land
for its road-bed, depots, and stations.

6. When fifty per centum of the minimum capital stock
shall have been actually paid in, the said company shall be
authorized, in order to raise means to construct or equip said
road, to borrow money upon the faith of the property and
franchises, to issue its bonds therefor, secured by such deeds
of trust or mortgage as may be necessary, said bonds to be
sold upon such terms as may be agreed upon by the board of
directors.

7. The said road shall be completed, equipped, and put
into operation within seven years from the passage of this
act.

8. All dues, taxes, and demands duc the commonwealth
shall be paid in lawful money of the United States, and not
in coupons.

9. This charter shall be subject to repeal or amendment,
at the pleasure of the general assembly.

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