Chap. 535.—An ACT to authorize the Winchester and Potomac railroad com-

pany to borrow money, execute mortgages on its property to secure it, to

x the recording tax, and to confirm thd existing lease to the Baltimore
and Ohio railroad company.

Approved February 29, 1896.

Whereas the Winchester and Potomac railroad company did, for
the purpose of adjusting its first mortgage indebtedness, issue certain
certificates of indebtedness amounting, to the sum of one hundred
and forty-seven thousand two hundred and fifty dollars, to the
holders of said first mortgage indebtedness, said certificates of
indebtedness being dated July first, eighteen hundred and sixty-
seven, and maturing and falling due July first, eighteen hundred
and ninety-seven, and secured by an agreement between the Balti-
more and Ohio railroad company and the said Winchester and
Potomac railroad company, dated the twenty-seventh day of Novem-
ber, eighteen hundred and sixty-seven, and duly recorded in the
counties of Jefferson, West Virginia, and of Frederick and Clarke,
in Virginia, and by the deposit of said first mortgage bonds, dated
July first, eighteen hundred and forty-seven, and secured by deed of
trust dated twenty-eighth of September, eighteen hundred and forty-
seven ; and

Whereas said certificates of indebtedness are about to mature
and fall due, and the said Winchester and Potomac railroad com-
pany desire to make a loan of asum sufficient to pay off said certifi-
cates of indebtedness and to secure the same by deed of trust upon
its roadbed and other properties, or otherwise ; therefore,

1. Be it enacted by the general assembly of Virginia, That the
president and directors of the Winchester and Potomac railroad
company be, and they are hereby, authorized to borrow and effect a
loan of money upon such terms and conditions as may be agreed
upon, and to issue and sell its bonds for such sums and on such
terms and bearing such rate of interest as the said board of directors
may deem expedient, and to secure the payment of such bonds by
mortgage or deed of trust upon all of its property, franchises, or
income, which mortgage or deed of trust as to the bonds secured
therein shall have all the rights and priority over the deed of trust
of the said Winchester and Potomac railroad company, dated the
first day of July, eighteen hundred and eighty-three, to William
B. Baker and William L. Clark, trustees, as is provided in said last
named deed of trust. And the state taxes upon the recordation of
such mortgage shall be upon the proportion of the debt secured
therein as is the property of the said Winchester and Potomac rail-
road lying in Virginia to that lying in West Virginia, and the action
of the Winchester and Potomac railroad company in making and
executing to the Baltimore and Ohio railroad company the lease of
its said road as now subsisting, bearing date November seventh,
eighteen hundred and sixty-seven, and recorded as aforesaid, is
hereby approved, confirmed, and ratified, hereby ratifying and con-
firming all the mutual rights and obligations now existing and pro-
vided for by said lease or otherwise.
2. This act shall be in force from its passage.