Chap. 420.—An ACT to incorporate the Fairmount traction company.

Approved February 25, 1896.

1. Be it enacted by the general assembly of Virginia, That Samuel
H. Pulliam, Jobn H. Dinneen, William T. Heckler, William J. West-
wood and Fred. C. Brauer, junior, and their associates, successors
and assigns, be, and they are hereby, constituted and declared a body
politic and corporate by the name and style of the Fairmount trac-
tion company.

2. The capital stock of the said company shall not be Jess than
five thousand dollars nor more than one hundred thousand dollars,
divided into shares of one hundred dollars each; and the directors
may receive cash, labor, material, bonds, stock or real estate in pay-
ment of subscription to the said capital stock at such valuation as
may be agreed upon.

3. That the said company shall have the power to construct and
operate railways in and upon the streets of the city of Richmond
upon such terms as may be agreed upon between the company and
the council of the city of Richmond, and in and upon the public
roads of the county of Henrico upon such terms as may be agreed
upon between the company and the county court of Henrico, after
reasonable notice to the abutting property owners, and upon the
Jands adjacent to the said streets and roads according to the pro-
visions of chapter forty-six of the code of Virginia. :

4. That the said company shall have the power, in its corporate
capacity, to borrow money for the purpose of constructing its lines
of railway, acquiring, erecting and furnishing its plant, power-house
and equipment, and may issue its bonds or other obligations there-
for in such denominations and for such amounts as the board of
directors may prescribe, payable at such place and in such time as
may be therein expressed, and secure the same by deeds of trust or
mortgages upon its plant, roadway, franchises, right of way, income,
equipment, privileges, or other property, real or personal, whether
the same be acquired before or after the creation of such lien.

5. Such company may connect its street railway with other street
railways within the limits aforesaid now existing or hereafter incor-
porated, with the consent of the owners of such railways; the said
company may also acquire and own, by lease, purchase, or otherwise,
any street railway and the property and franchises thereof in or near
Richmond now incorporated or constructed or which may be hereaf-
ter incorporated or constructed, and may acquire and consolidate its
railway or railways with such railways, and may issue therefor the
bonds and stock of said company for such amounts as may be agreed
upon.

6. The said company shall be, and is hereby, empowered to erect,
establish, purchase, lease, maintain, operate, or sell a plant or plants
in the city of Richmond and the county of Henerico for the genera-
tion of electricity and the supply of the electric current for its own
use.

7. The said company may take and acquire by purchase, condem-
nation, lease or otherwise, and hold, and thereafter to sell or other-
wise dispose of real estate, not exceeding five acres in the city of
Richmond or more than forty acres in the county of Henrico, exclu-
sive of its roadbeds, for any of the purposes of the company.

8. The said company may adopt such motive power to propel its
cars or carriages as the proper authorities of the city and county,
through or over which its tracks may be laid, may permit.

9. The corporators named in this act shall constitute the board of
directors for the first year, and shall continue in office until thei1
successors shall be elected and qualified; they shall have the powe!
and authority of a president and board of directors for the purpose
of organization and for all other purposes incident thereto; the)
shall elect one of their number president of the board, and may ap
point such other officers as they may deem proper; they may fill an:
vacancies on the board or in the office of president of the company
Whenever five thousand dollars of the capital stock shall have bee:
subscribed, the board of directors shall proceed to organize the com
pany by the election of officers as aforesaid. The company shall the
be considered as legally organized, and shall have all the right
powers and privileges conferred upon corporations and chartere
companies by the laws of this state, and subject to the privilege:
thereof, except in so far as the same are inconsistent with this act.

10. The construction of the railway or railways authorized by tk
act shall be commenced within two years from the first day of Apr
eighteen hundred and ninety-six, and completed within five yes
thereafter. .

11. All taxes due or to become due to the commonwealth of Vir

nia shall be paid in lawful money of the United States, and not
coupons.
12. The principal office of the said company shall be in the city
of Richmond.

13. The general assembly hereby reserves the power at any time to
alter, amend, or repeal this charter.

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