Chap. 132.—An ACT to incorporate the Salem and Blacksburg electric railway
company.

Approved January 23, 1896.

1. Be it enacted by the general assembly of Virginia, That J. W.
F. Allemong, E. P. Wilson, C. P. Kanode, J. C. Langhorne, James
Chalmers, D. B. Strouse, M. W. Bryan, T. J. Shickel and S. D. Mc-
Common, or such of them as may accept the provisions of this act,
and such other persons as may hereafter become associated with
them in the manner hereafter provided, shall be, and they are here-
by, constituted a body corporate by the name of the Salem and
Blacksburg electric railway company, and by that name shall have
all powers, rights and franchises necessary and proper to construct,
equip and maintain a railroad of standard guage, with single or dou-
ble track, commencing at the town of Salem, Roanoke county, Vir-
ginia, and running thence by the most practical and eligible route
deemed advisable by the board of directors of the said company, to
the town of Blacksburg; and it shall be lawful for said company to
construct, operate and maintain lateral or branch roads of standard
gauge, not exceeding twenty miles each, which shall have all the
rights and powers, and be subject to the same restrictions as the
main line. And said company shall carry passengers, freight, bag-
gage, express, and the United States mail, and collect tolls and fares
for same.

2. The said company is also empowered and-authorized to erect,
equip, maintain and operate electric light, heat and power plants, al-
so telephone lines which may be necessary for the use of the com-
pany, and erect and maintain poles and wires for their use and dis-
tribution.

3. The said company shall have the power to borrow money and
to make, issue and sell its bonds from time to time on such terms as
the board of directors may deem proper and necessary; and to se-
cure the payment of such loan or loans, or its said bonds, the said
company may make and create one or more mortgages, or deeds of
trust on the whole or any part of its property, charter rights or fran-
chises.

4, The said company may receive subscriptions to its capital stock,
to be paid in money or in lands, property, material and equipments,
at such valuation and upon such terms as may be agreed upon by the
board of directors and the subscribers. And said company may hold,
improve, sell or convey at pleasure all lands so acquired. It shall
be also lawful for said company to acquire, hold, operate, sell or
convey coal or other mining properties, or any interest therein, when-
ever the board of directors deem it to the interest of the company to
do so; provided that the said company shall not have the right to
hold at one time more than ten thousand acres of land in this state.

5. Any county, city or town, on or near the line of railroad of said
company, may subscribe to its capital stock in the mode prescribed

y law.

6. The said company shall have power to cross with its road at
grade, over or under any other railroads now constructed, or which
shall hereafter be constructed within the state, at any point on its
route, subject to the provisions of the general law of this state, unite
its roads with any other railroads in this state, and to construct the
necessary turnouts, sidings, switches and conveniences in further-
ance of the object of its construction and traffic between the res-
pective roads.

7. It shall be lawful for the said company to acquire by lease,
donation, purchase or condemnation, according to the laws of .Vir-
ginia, land for right of way for tracks, stations and other purposes,
necessary for the successful construction and operation of its roads
through any of the counties through which it is authorized to con-
struct it lines, and to erect the necessary poles and wires thereon for
electrical purposes.

8. The said company in building its roads may cross at grade,
over or under any turnpike, by maintaining proper approaches and
crossings thereon.

9. The said company may operate its line or lines of railway by elec-
tricity or other motive power, except steam, as the board of directors
may select.

10. The capital stock of the company shall be three hundred thousand
dollars, and may be increased, from time to time, as the board of direc-
tors may authorize. The shares shall be fifty dollars each, and each
share shall be entitled to one vote in a meeting of the stockholders.
And it shall be lawful for the persons hereinbefore named, or any
five of them, to organize the company by the election of a president
and board of directors, and such other officers as may be necessary,
and thereupon they shall have and exercise all the general powers
and functions of a corporation, and be subject to all the restriction:
imposed by the laws of the state applicable to internal improvemen
companies, except so far as the same may be changed or modified by}
this act, but the said company shall not commence with the con
struction of the said road until there is subscribed by individuals o:
corporations at least the sum of twenty thousand dollars, and at leas
ten per centum thereof actually paid in.

11. The said company, by its name, may sue and be sued, pleac
and be impleaded unto, in any court of law, or equity in the state, o1
elsewhere when its rights may come in question; may have and use
& common seal, which may be adopted by the board of directors.

12. The said company may lease its line of railway and other pro
perty, and it may merge and consolidate with any connecting rail.
road or railway company upon such terms as may be agreed upon by
the contracting parties, with the approval of a majority of thei)
stockholders, and may adopt another name for the consolidated com.
pany, or it may sell its franchises, railway and other property to suck
connecting railway company, upon such terms as may be agreed
upon by both parties, full authority and power being hereby giver
to it, and to such other company or companies to make and carry
out such contracts as will facilitate and consummate such union.
merger or consolidation, or any lease or sale; provided that a copy of
any such contract of union, consolidation, merger, lease or sale, be
filed in the office of the board of public works.

13. All assessments, taxes, dues and demands, due to the common.
wealth of Virginia, shall be paid in lawful money of the United
States, and not in coupons.

14. The work on the road hereby authorized to be constructed
must commence within two years, and be completed within three
years from the passage of this act.

15. The principal office of the said company shall be at Salem,
Virginia, but the meetings of the board of directors or of the stock-
holders may be held elsewhere within the state of Virginia, as the
board of directors or of the stockholders in general meeting may
determine.

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