Chap. 800.—An ACT to incorporate the New river bridge company.

Approved March 4, 1896.

1. Be it enacted by the general assembly of Virginia, That, for
the purposes hereinafter declared, M. W. Bryan, L. H. Cocke, L. 8.
Davis, J. M. Wirgman, and C. S. Thorne, and such persons as may
become associated with them, and their successors, are hereby cre-
ated and constituted a corporation under the laws of the state of
Virginia under the name and style of New river bridge company,
and by that name shall have all the general powers accorded to cor-
porations under the laws of this state.

2. The capital stock of the company shall be not less than fifty
thousand dollars, to be divided into shares of one hundred dollars,
and the same may be increased at any time by the board of direc-
tors toa sum not to exceed one hundred thousand dollars. The
company may receive in payment of the subscriptions to its capital
stock money, land, labor, material, or other things necessary to the
company in the conduct of its business, but when anything else
other than money is offered in payment for a subscription to the
capital stock it must be upon such valuation as may be agreed upon
by the board of directors.

3. The corporators herein above named, or any others of them,
may receive subscriptions to the capital stock of said company, and
when the minimum capital of fifty thousand dollars shal] have been
subscribed the said subscribers may proceed to the organization of
said company by the adoption of by-laws for the management of
the affairs of the board and by the election of five directors, of whom
the subscribers shall elect one asa president, and said president and
directors shall continue in office for one year from the date of their
election and until their successors shall have been elected in such
manner as may be prescribed by the by-laws.

4, The said company is hereby authorized to construct, equip,
maintain, and operate a toll bridge across New river at any point on
the same where said river constitutes the boundary line between the
county of Montgomery and the city of Radford and the county of
Pulaski, or it may acquire any bridge that may now exist across
mid river in the limits above described upon such terms as may be
Brood upon between said company and the owner or owners of gaid
ridge.

5. If said company shall not erect or acquire, by purchase or
therwise, a bridge across New river within two years from the
assage of this act, then the privileges granted by this act shall
ease.

6. At any time after the completion of a bridge as herein autho-
ized to be constructed, or after any bridge now in existence has
een acquired by said company, the company may demand and
eceive such tolls for passing over the same as the directors of the
ompany may from time to time prescribe, not exceeding the follow-
ng: For each person, five cents; for each horse, mule, or work ox,
ive cents; for each vehicle on wheels, three cents per wheel; for
ach bead of neat cattle, three cents; for each hog or sheep, one
‘ent; provided, however, that persons who have bought a lot or lots
rom the West Radford land and improvement company and have
ouilt upon said lot or lotsa shall have free passage over said bridge
tor themselves and their families; and provided, further, that the
ywhers, teachers, and pupils of Saint Albans school shall also have
free passage over said bridge.

7. The said company, except as herein provided, shall be subject
to the rules and regulations as set forth in the code of Virginia in
section thirteen hundred and eighty-eight and the sections following
in that chapter.

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