Chap. 309.—An ACT to amend and re-enact section 2 of an act to incorporate
Virginia Transportation Company, and to authorize said Virginia Transporta-
tion Company to consolidate with the Elizabeth River and Hampton Roads
Ferry Company and Elizabeth River Ferry Company, and any other transporta-
tion or other companies, and to lease or otherwise acquire the property and
franchises of the same.

Approved March 25, 1902.

1. Be it enacted by the general assembly of Virginia, That section two
of an act entitled an act to incorporate the Virginia Transportation
Company, approved February twenty-first, nineteen hundred, be amended
and re-enacted so that the same may read as follows:
§ 2. The company so organized shall be entitled to all rights and priv-
ileges provided for transportation companies under the general laws of the
State, including the right to issue bonds, unite, merge with, lease, or form
other companies, and condemn so much real estate as may be necessary
for its terminal purposes in accordance with the general laws of the
State of Virginia in regard to transportation companies.

Authority is hereby given said company to consolidate with the Eliza-
beth River and Hampton Roads Ferry Company and the Elizabeth
River Ferry Company, and any other transportation or other companies
now incorporated or hereafter to be incorporated under the laws of the
United States, or of any of the States thereof, or of this State, and au-
thority is hereby given all and each of said companies, and all other
transportation or other companies now incorporated or hereafter to be
incorporated as aforesaid, to make, enter into, and carry out any agree-
ment whereby the said Virginia transportation company shall become
consolidated with, or shall lease or otherwise acquire the property and
franchises of said other company or companies as one transportation
company. The said company shall have power to condemn so much real
estate as may be necessary for its terminal purposes in accordance with
the general laws of the State of Virginia in regard to transportation
companies.

That said consolidation, lease, or acquisition shall be made on such
terms and conditions as may be agreed to by the stockholders in each of
the said companies by a resolution to be adopted in a general meeting
of the stockholders of each of said companies duly called for the purpose
of considering the same: provided, that said resolution shall be adopted
in each of said meetings by the affirmative vote of those owning or repre-
senting at least a majority of the entire capital stock of said companies.

That when such consolidation, lease, or acquisition shall have been
agreed to in the manner and form hereinbefore prescribed, the same shall
be affected by the execution of and delivery of a deed or other proper
conveyance from the transportation or other company agreeing to such
consolidation, lease, or acquisition by the said Virginia Transportation
Company conveying by proper description all of the property, real, per-
sonal, and mixed, as well as all equipment and other personal property,
and all the rights, powers, privileges, and franchises of said other com-
panies agreeing and consenting thereto as aforesaid to the said Virginia
Transportation Company. The said Virginia Transportation Company
shall have the right to pay for and cancel, or to assume as a part of the
consideration of such conveyance, the payment of the principal and inter-
est of any liens existing upon the property of any of said companies.

That the said Virginia Transportation Company is hereby authorized
to make and carry out any agreement that may be made for the transfer
and delivery of shares of its capital stock to the holders of the shares of
stock in any of said transportation or other companies consenting thereto
in exchange for said stock on such terms and at such rates as may be
mutually agreed upon, and said company is hereby authorized to purchase
from the holders thereof any of the shares of stock in any of the said
transportation or other companies agreeing thereto, which may not be ex-
changed as aforesaid.

That such consolidation shall be deemed and taken to be completed
when the agreement thereof in writing, properly signed, acknowledged,
and delivered by the proper officer of said company in the manner now
prescribed by law as to deeds, shall have been admitted to record in the
clerk’s offices of the counties and corporations wherein are the principal
offices of each of said companies, and in the office of the secretary of the
Commonwealth, at Richmond.

That the action of the corporation court of the city of Norfolk increas-
ing the maximum capital stock of said company from ten thousand dol-
lars to one hundred and fifty thousand dollars is hereby ratified and ap-
proved.

That the stockholders of the said Virginia Transportation Company
may, at any annual or general meeting thereof, elect a president and
board of directors, not to exceed ten.

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