Chap. 111.—An ACT to incorporate the Wytheville and Noth Carolina
Railroad Company.

Passed January 26, 1867.

1. Be it enacted by the general assembly, That it shall be

lawful: to open books of subscription in the town of Wythe-

ville, under the direction of Robert Gibboney, Wm. Terry,
Robert C. Kent, Robert Rafer and Robert Jackson, or any
two of them; in the town of Hillsville, under the direction
of James 8S. Tifton, J. B. Johnson, J. W. Green, John Early
and L. F. Woltz, or any three 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, which may be paid either in land or money, as to the
commissioners may be deemed expedient, to the amount of
one million five hundred thousand dollars, in shares of one
hundred dollars each, to constitute a joint capital stock, to
be employed in making a railroad from Wytheville to the
North Carolina line, passing through the county of Carroll
by the courthouse to connect with a railroad passing through
North Carolina from High Point, by’ Mount Airy, to the
Virginia state line. ‘

2. Whenever fifty thousand dollars of stock shall have
been subscribed, the subscribers, their executors, administra-
tors and assigns, shall be and are hereby declared to be a
body politic and corporate, under the name and styleof The
W ythevilleand North Carolina Railroad Company; and shall
be subject to all the provisions of the Code of Virginia, ap-
plicable to internal improvement companies, except so far_as
the same may be inconsistent with the provisions of this act.

d. If the capital stock of said company shall be deemed
insufficient for the purposes of this act, it shall and may be
lawtul for the directors, or a majority of .them, from time to
time, to increase the same by the addition of as many shares
as they may deem necessary: provided the whole capital
stock shall not exceed two millions dollars, for which they
may, at their discretion, cause subscriptions to be received
in such manner as may be prescribed by them, or may sell
the same for the benefit of the said company, for any sum
not ander the par yalue thereof; and the said directors, or a
majority of them, shall, by and with the consent of the stock-
holders in general meeting assembled, have power to borrow
money for the purposes of this act, and to issue proper cer-
tificates of such bonds, and to pledge the property of the
company, by mortgage or otherwise, for the payment of the
same and the interest that may accrue thereon.

4, It shall be the duty of the said company to commence
the said work within two years, and complete the same
within five years; and if the company shall fail to commence
and complete-+the work within the time prescribed by this
section, they shall forfeit all the rights and privileges con-
ferred by this act. ,

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