Chap. 5.—An ACT to confirm the union, merger, and consolidation of the Lynch-
burg Traction and Light Company and the Lynchburg Electric Railway and
Light Company into one corporation under the name of the Lynchburg Traction
and Light Company, and to confirm the agreement of consolidation and all acts
and contracts of said consolidated company, and all deeds, mortgages, and
trust deeds executed by it, and to amend and enlarge its charter.

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Approved December 17, 1901.

Whereas, the Lynchburg Traction and Light Company, formerly the
Lynchburg and Rivermont Street Railway Company, which was incor-
8 ACTS OF ASSEMBLY.

porated under the name of the Rivermont Street Railway Company by
an act of the general assembly of Virginia, approved December seven-
teenth, eighteen hundred and ninety-one, and the Lynchburg Electric
Railway and Light Company, a corporation coming into existence and
organized under the provisions of sections twelve hundred and thirty-
three, twelve hundred and thirty-four, and twelve hundred and thirty-
six of the Code of Virginia, edition of eighteen hundred and eighty-
seven, and claiming to have and possess all of the charter rights and
franchises granted by the general assembly of Virginia to the Lynch-
burg Street Railway Company, a corporation incorporated by an act of
the general assembly of Virginia, approved March third, eighteen hun-
dred and eighty-two, and acts amendatory thereof, without liability for
any of its debts or obligations, and claiming to have and possess all of
the charter rights and franchises granted by the general assembly of
Virginia to the Lynchburg Electric Company, a corporation incorporated
by an act of the general assembly of Virginia, approved February fifth,
eighteen hundred and ninety-two, and acts amendatory thereof, without
liability for any of its debts or obligations, and claiming to have all of
the franchises and rights granted by the general assembly of Virginia to
the said two last-named companies as a consolidated company under the
name of the Lynchburg Electric Company by an act of the general as-
sembly of Virginia, approved February sixth, eighteen hundred and
ninety-four, without any liability for any debts or obligations of said
last-named consolidated company, have been merged and consolidated
into one company under the name of the Lynchburg Traction and Light
Company by written agreement bearing date on the thirtieth day of April,
nineteen hundred and one, and recorded in the office of the secretary of
the Commonwealth of Virginia on the first day of May, nineteen hundred
and one; and,

Whereas, all works, properties, rights, and franchises of said Lynch-
burg Traction and Light Company and said Lynchburg Electric Railway
and Light Company passed to and all of their liabilities existing on the
first day of May, nineteen hundred and one, were assumed by said con-
solidated company under the name of the Lynchburg Traction and Light
Company ; and,

Whereas, said consolidated company, the Lynchburg Traction and
Light Company, has, under and in pursuance of the provisions of said
agreement of consolidation, issued its income obligations, with the right
reserved to exchange shares of its capital stock as fully paid up and non-
assessable stock dollar for dollar for said income obligations when it shall
be authorized by the general assembly of Virginia to increase its capital
stock and issue the same for said income obligations; and,

Whereas, said Lynchburg Traction and Light Company desires to
acquire all of the works, properties, franchises, and easements, and all
charter rights, powers; and privileges of the Lynchburg Gas Company, a
corporation chartered, organized, and existing under the laws of the State
of Virginia: therefore,

1. Be it enacted by the general assembly of Virginia, That the afore-
said union, merger, and consolidation of said Lynchburg Traction and
Light Company and said Lynchburg Electric Railway and Light Com-
pany, the latter company being hereby recognized as a corporation duly
incorporated and organized under sections twelve hundred and thirty-
three, twelve hundred and thirty-four, and twelve hundred and thirty-
six of “the Code of Virginia,” edition of eighteen hundred and eighty-
seven, into one company under the name of the Lynchburg Traction and
Light Company, and said agreement of consolidation recorded in the
office of the secretary of the Commonwealth of Virginia on May first,
nineteen hundred and one, and all of the conditions and provisions
thereof, and all acts done in pursuance of said agreement of consolida-
tion, and all contracts entered into,‘and all deeds, mortgages, and trust
deeds executed by said consolidated company under the corporate name of
the Lynchburg Traction and Light Company, are hereby confirmed and
declared to be legal and valid; and said consolidated company, the
Lynchburg Traction and Light Company, shall have and enjoy all char-
ter rights and franchises granted by the general assembly of Virginia to
the several corporations enumerated in the preamble to this act, and
every of them, and shall also succeed to, have, hold, possess, and enjoy
all works, properties, franchises, easements, rights, and claims of every
character and description of said consolidating companies—namely, the
Lynchburg Traction and Light Company and the Lynchburg Electric
Railway and Light Company—and shall be subject to the duties and lia-
bilities of said Lynchburg Traction and Light Company and said Lynch-
burg Electric Railway and Light Company existing on May first, nine-
teen hundred and one, but shall not be liable for any of the debts, obliga-
tions, or contracts of said Lynchburg Street Railway Company or said
Lynchburg Electric Company, or said Lynchburg Electric Company after
the union, merger, and consolidation of said Lynchburg Street Railway
Company and said Lynchburg Electric Company into one corporation
under the name of the Lynchburg Electric Company.

2. Be it further enacted, That if there be any conflicts or inconsis-
tencies in the charter rights and franchises of the above named com-
panies, confirmed by this act to said Lynchburg Traction and Light
Company, the said consolidated company, the Lynchburg Traction and
Light Company, at any general meeting of its stockholders, or the board
of directors thereof, may elect between such conflicting or inconsistent
provisions and certify such election to the secretary of the Commonwealth
of Virginia for recordation in his office.

3. Said consolidated company, the Lynchburg Traction and Light
Company, at any general meeting of its stockholders, .or the board of
directors thereof, shall have power and authority to increase its capital
stock, from time to time, to an amount not exceeding one million dollars,
divided into shares of the par value of fifty dollars per share, and to
exchange shares of its capital stock as fully paid up and non-assessable
stock for its income obligations dollar for dollar, as provided in the afore-
said agreement of consolidation recorded in the office of the secretary of
the Commonwealth on the first day of May, nineteen hundred and one;
and any part of such additional stock may be issued and sold for money
or property at such price less than its par value as may be fixed by its
board of directors, and all stock so issued and sold shall be deemed and
taken for all purposes whatsoever as full paid and non-assessable stock.

4. Said consolidated company, the Lynchburg Traction and Light
Company, is hereby authorized to acquire, by purchase or otherwise, all
of the works, properties, franchises, easements, and claims of every char-
acter and description, and all.charter rights and franchises of the Lynch-
burg Gas Company, a corporation existing under the laws of Virginia.

5. A general meeting of the stockholders of the Lynchburg Traction
and Light Company may be held at any time upon the call of the board
of directors, or of stockholders holding together one-tenth of the capital
stock, upon their giving notice of the time and place for ten days in some
newspaper published in the city of Lynchburg, Virginia.

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