Chap. 799.—An ACT to amend and re-enact an act entitled an act to incorporate
the Southwestern railroad company, approved February 27, 1894.

Approved March 4, 1896.

1. Be it enacted by the general assembly of Virginia, That Wil-
liam P. Douglas, Douglas Robinson, junior, Herbert C. Plass, Daniel
Trigg, W. W. Betts, E. A. Irvin, R. M. Page, and Frederick M. Leo-
nard, and such other persons as may be associated with them, and
their successors, are hereby created and declared to be a body politic
and corporate by the name and style of the Southwestern railroad
company of Virginia, and by such name shall have perpetual suc-
cession, and may contract and be contracted with, sue and be sued,
make and use a common seal and alter the same at pleasure, and
make such by-laws, rules, and regulations for the government of said
corporation and the conduct of its business as may be deemed neces-
sary, not in conflict with the constitution and the laws of this state
or of the United States.

2. The capital stock of the said company shall not be less than
ten thousand dollars, to be divided into shares of one hundred dol-
lars each, and the same may be increased from time to time by addi-
tional subscriptions to such amount, not exceeding five hundred
thousand dollars, as the stockholders at any general or special meet-
ing may authorize or prescribe. The said company may receive
subscriptions to its capital stock or payment for its shares to be
issued in money, land, or other property upon such terms as shall be
agreed upon or authorized by the board of directors, and may give
preference to a portion of its capital stock over the residue thereof
or to dividends and the payment thereof.

3. The corporators herein above named, or any three of them, may
receive subscriptions to the capital stock of said company, and when
the minimum capital of ten thousand dollars shall have been sybe
&cribed the said subscribers may organize said company by the elec-
tion of five directors, of whom they shall elect one as president, to
remain in office one year and until their successors are elected, unless
sooner removed by the stockholders. After organization as aforesaid
the stockholders, at a general meeting, may change the number of
directors and may provide for the proper government of the com-
pany by such by-laws as they may deem fit, as hereinbefore author-
ized. The board of directors may appoint such subordinate agents
and officers as they may deem necessary and proper to the conduct
of the business of the company. :

4. The said company is hereby authorized and empowered to
locate, construct, build, equip, operate and maintain a line of rail-
way of standard gauge and standard quality, to any point on the
Norfolk and western railroad between Marion, in the county of
Smyth, and the town of Abingdon, in the county of Washington,
from the lands of the Douglas company, in the counties of Wash-
ing, Smyth and Grayson, and to connect the same with any line of
railroad now built or authorized to be built, and shall have the right
by a majority vote of its stockholders to consolidate and merge its
property and franchises into any other railroad in or outside of said
state, and shall have power to execute contracts for the purposes
of such connection, merger or consolidation, and any company s0
formed by such merger and consolidation, and under such name as
it may adopt and set forth in the contract of consolidation so exe-
cuted shall be entitled to all the property, rights and franchises, and
be subject to the liabilities of the companies so consolidated; and
the said named company shall have power to subscribe to the capi-
tal stock or to endorse the bonds of any railroad company or other
incorporated company.

5. The said company shall have power to borrow money, to issue
and negotiate bonds for the security of such loans and to secure the
same by mortgage, deeds of trust or otherwise upon the whole or any
part of its property and franchises, or either. It shall be lawful for
said company to sell its bonds from time to time for such sums and
upon such terms as the board of directors may deem expedient for
the prosecution of the work and business of the company. No stock-
holders shall be held individually liable for any of the debts or lia-
bilities of the company in any further or larger sum than the amount
that may be due and unpaid upon his stock subscription.

6. The said company 1s hereby invested with all the powers and
privileges conferred by the general laws of this state applicable to
railroad corporations and works of internal improvement, including
the right to condemn lands for its purposes, and shall be subject to
all the restrictions of said laws, except in so far as the same are
modified or changed by the provisions of this act.

7. The said company by its acceptance of this charter thereby
agrees to pay all public dues, demands and taxes due or to become
due to the state of Virginia in lawful money of the United States,
and not in coupons.

8. This act is subject to the proviso that the work of construction
hereunder shall be begun within two years and be completed within
886 ACTS OF ASSEMBLY.

five years from the fourth day of March, eighteen hundred an
ninety-six, to which end and for which purpose the provisions of th
said act of February twenty-seventh, eighteen hundred and ninety
four, are hereby extended for two years from the said twenty-sevent!
of February, eighteen hundred and ninety-six, within which tim
the said work of construction may be begun, and to be complete
within five years from the said twenty-seventh of February, eightee!
hundred and ninety-six.
9. This act shall be force from its passage.