Chap. 634.—An ACT to incorporate the Lynchburg and Amherst Belt Line Com-
pany.

Approved April 2, 1902.

1. Be it enacted by the general assembly of Virginia, That George P.
Watkins, J. Gordon Payne, T. Ashby Watts, Thomas Whitehead, I. P.
Whitehead, William Beasley, and L. E. Fore, all of the State of Vir-
gimia, and such other persons as may be associated with them, their suc-
cessors and assigns, be, and they are hereby, created a body politic and
corporate under the name and style of the Lynchburg and Amherst Belt
Line Company, and under such name shall have all the general rights
and powers conferred on, and be subject to all general laws of this State
governing such corporations.

2. The capital stock of said company shall not exceed five thousand
dollars, unless increased, and the charter fee tax paid on such increase as
hereinafter provided, to be divided into shares of fifty dollars each. Said
company, its successors or assigns, may, from time to time, receive sub-
scriptions for and issue and sell its stock, common or preferred, upon
such terms and at such prices as its board of directors may prescribe, and
may take in payment of such stock cash, labor, material, or real or per-
sonal property at such a valuation as may be agreed upon between said
board of directors and the subscriber or purchaser. ,

3. The said company is hereby authorized and empowered to locate, con-
struct, equip, maintain, and operate a railroad, the motive power of which
may be steam or electricity, or both, with all necessary tracks and side
tracks from any point on the line of the railroad of the Southern Rail-
way Company, in the county of Amherst, to any point on the line of the
railroad of the Norfolk and Western Railway Company, in said county,
by such route as may be adopted by the directors of said company hereby
corporated, such road to run on the north side of the James river and to
follow in a general way the course of said river. Said company is also
authorized and cmpowercd to locate, construct, equip, maintain, and
operate a railroad, the motive power of which may be steam or electricity,
or both, running from the north end of the free bridge spanning the
James river, along the public road leading from Lynchburg to Amherst
courthouse to the top of the hill, and thence, if it shall be deemed ad-
visable by the directors of the said company, along the main street of
the village of Madison down the hill back to the north end of the bridge.
The width and manner of construction of said road, and any and all
parts of it, shall be determined by the board of directors.

4. The said company shall allow connection to be made with all rail-
roads now constructed, or hereafter to be constructed, should such con-
nection be desired by the owners thereof, and shall have the privilege of
making such connection with all such railroads.

The said company shall have the right, power, and authority to have,
hold, enjoy, sell, convey, and assign, in part or whole, all the franchises,
powers, rights, and privileges provided for it in this act; to purchase
property of every kind, and receive, hold, and enjoy, grant, mortgage, or
otherwise dispose of the same; to borrow money by issuing, negotiating,
and selling its bonds, which bonds may be secured by mortgage or deed of
trust on any or all of its property or franchises now or hereafter ac-
quired ; to construct and operate for its own usc telegraph and telephone
lines along or near its road, or any part thereof; to consolidate all or any
portion of its franchises, rights, privileges, and capital stock with any
other corporation doing business in this State; to issue in lieu and place
of its own stock the capital stock of such consolidated corporation ; to
sue and be sued, plead and be impleaded, contract and be contracted with,
make and use a corporate seal, and at pleasure break or alter the same;
to take timber, stone, earth, and material from any lands adjoining its
road-bed, making compensation therefor; and to do and perform any and
all other acts necessary and proper to perfect its organization or otherwise.

5. The persons named in this act shall constitute the first board of
directors of said company. Said board shall appoint one of its members
as president of said company, and may appoint all necessary officers for
said company, and may fill any vacancy that may occur in the board.

6. Said incorporators, or a majority of them, may hold a meeting and
receive subscriptions to the capital stock, and when'as much as five hun-
dred dollars of such stock shall have been subscribed for, the said com-
pany shall be considered legally organized, and may proceed to carry out
the objects for which it is incorporated. Any corporation doing business
under the laws of this State may subscribe to the capital stock of said
company, and said company may hold stock in any such corporation.

v. It shall be lawful for the circuit court of the city of Richmond, or
of the county of Amherst, upon the petition of the board of directors of
the said company, from time to time, to order an increase of its capital
stock upon the payment of the proper charter fee tax for such increase of
stock into the State treasury, but the amount of said stock shall not be so
increased as to exceed one million dollars in all. And upon the petition
of the board of directors, the name of the said company may be changed
hy order of the said cireuit court of Richmond to such name as they may
designate and the said court approve, but. the same shall be without pre-
judice to the rights, powers, and franchises of the company, or to the
rights of any person interested therein.

8. All taxes payable by said company to the Commonwealth of Vir-
ginia shall be paid in lawful money of the United States, and not in
coupons, and ihe said company shall be required to commence its works
within two years, and shall complete the same within five years from the
passage of this act.

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