Chap. 101,—An ACT to incorporate the Saltville and Coal Mine Railroad
Company. é

Passed January 23, 1867.

1. Be it enacted by the general assembly, ‘That it shall be
lawful to open books of subscription in Gladeville, in the
county of Wise, under the direction of James M. Gibson,
Robert P. Dickenson, John H. Snodgrass, Hiram Riggs,
Adam Robinson and William Vanover, or any two of them;.
at Bickley’s Mills, in the county of Russell, under the'direc-
tion of Thomas T. Dickenson, Aaron H. Nash, Charles E.
Stevenson and George C. Gose, or any two of them; at
Hansonville, in the county of Russell, under the direction of
Dale Carter, James M. Hanson, Charles H. Gilmer and Wil-
liam Sample, or any two of them; in Lebanon, in the county
of Russell, under the direction of Thomas C. M. Alderson,
Isaac Vermillion, Samuel W. Aston and Samnel Leece, or
any two of them; at Saltville, in the county of Washington,
under the direction of William A. Stuart, George W. Palmer
and Whitley Fallen, of any two of them; and in such other
places, and under the direction of such agent or agents as a
majority of the commissioners at either of the above named
places may designate, for the purpose of receiving subscrip-
tions to the amount, of one million of dollars, in shares of
fifty dollars each, to constitute a joint capital stock for the
purpose of making a railroad from Saltville, in the county of
Washington, through the counties of Russell and Wise to
some suitable’ point on the Kentucky line, and providing
everything for convenient transportation on the same.

2. Whenever twenty-five thousand dollars of stock shall
have been subscribed, the subscribers, their execifttors, ad-
ministrators and assigns, shall be and are hereby declared to
be a body politic and corporate, under the name and style of
The Saltville and Coal Mine Railroad Company; and shall
be subject to all. the provisions of the Code of Virginia ap-
plicable to internal improvements, except so far as the same
may be inconsistent with the provisions of this act. |

3. Subscriptions of stock may be taken and paid in money,
or in lands at a fair cash valuation, to be ascertained by per-
sons to be appointed by the commissioners at the place where
the subscription is taken, the said persons first being duly
sworn for that purpose. , |

4. If the capital stock of said company shall be deemed
nsufficient for the purpose of this act, it shall be lawful for
he directors, or a majority of them, from time to time, to
ncrease the same by the addition of so many shares as they
nay deem necessary; for which they may, at their discretion,
ause subscriptions to be received in such.manner as may be
rescribed by them; or may sell the same for the benefit of
he said company, for any sum not under the par value
hereof; and the said directors, or a majority of them shall,
y and with the consent of the stockholders, in general meet-
1@ assembled, have power to borrow money for the purpose
of this act, and to issue proper certificates of such bonds,
and to pledge the property ofthe company, by mortgage or
otherwise, forthe payment of the same and the interest that
may accrue thereon.

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