Chap. 676.—An ACT to incorporate the Dan River Railway Company.
Approved April 2, 1902.

1. Re it enacted by the general assembly of Virginia, That Walter Hl.
Tennis, W. W. Whyte, T. E. Houston, Thomas Woodruff, junior, H. 0.
Tennis, J. D. Minnick, W. L. Taylor, and such other persons as may here-
after be associated with them, their successors and assigns, be, and they
are hereby, created and constituted a body politic and corporate, to be
known as the Dan River Railway Company, and by such name shall have
perpetual succession, may contract and be contracted with, sue and be
sued, plead and be impleaded, and may have, make, and use a common
eeal, and the same break, alter, and renew, or change at pleasure, and may
make, ordain, establish, alter, or amend such by-laws, ordinances, and
regulations concerning all matters of organization and business not herein
specifically provided for as they may think proper, and generally may do
every act and thing necessary to carry this act into effect or promote the
objects and designs of the corporation: provided, such by-laws, ordi-
nances, and regulations, or acts, be not inconsistent with the laws of this
State or of the United States.

2. The capital stock of the said company shall be one hundred thot-
sand dollars, to be divided into shares of ten dollars cach; and said com-
pany may give preference to portions of its capital stock over the residue
thereof as to the dividends and payments thereof, and may create and
issue two or more classes of stock, according to the preferences so given,
and designate the same accordingly. Subscriptions to the capital stock
may be received by the incorporators herein named, or any three of them,
at such time and place as they may appoint, and with or without public
notice as they may deem best, and as soon as the minimum capital stock
has been subscribed the said subscribers may organize as a corporation by
the election of seven directors, who shall be stockholders, of whom one
shall be elected as president, to remain in office one year, and until their
successors are elected, unless sooner removed by the stockholders. After
the organization as aforesaid the stockholders may adopt such by-laws,
ordinances, and regulations as may be proper for the management of the
affairs of the company. Subscriptions to the capital stock may be payable
either in money, land, labor services, materials, rights, or other property,
or in the capital stock of other corporations, upon such terms and at such
prices as may be agreed upon between the said company and the sub-
scriber. The stockholders may at any general ineeting change the num-
ber of its board of directors. The board of directors may appoint such
subordinate agents and officers of the company as they may deem neces-
sary for the proper dispatch of the business of the company. There shall
be one or more vice-presidents of the company, who shall be chosen as
provided in its by-laws.

3. The said company shall be, and is hereby, authorized and em-
powered to construct, equip, and operate a railroad to be operated by
steam or electricity from some point on the beundary line between the
States of North Carolina and Virginia, in the county of Patrick, to
some point in the county of Roanoke, and to construct and opcrate
branch roads, not exceeding twenty miles each in length, into and through
the counties of Henry, Carroll, Floyd, Montgomery, Roanoke, and Pu-
laski, in the State of Virginia, with the stations, terminals, or other facil-
ities connected therewith which may be necessary and suitable for the
proper, full, and convenient carrying on of the business of the com-
pany; and may take and acquire, by purchase, condemnation, lease, or
otherwise, such land as may be necessary for its rights of way, not ex-
ceeding fifty fect in width, and for its stations and terminals; and may
build dams, reservoirs, canals, aqueducts, waterways, and may utilize
streams for floating logs, lumber, and other woods in the conduct of its
business ; and may for such purposes acquire, by purchase, lease, or other
contract or agreement, the necessary land therefor on either or both banks
of such strcams.

4. That said company, in laying out, locating, and constructing its
right of way and road-bed thereon, may, by and with the consent of the
circuit or county court of the county wherein any such public road may
lie, follow and use any public road or other public highway on its route
without charge, let, or hindrance from any one: provided, they or it shall
make or construct a passageway or roadway for the passage, use, and
benefit of vehicles and other public travel equally good and convenient ;
that said company may take additional lands for the construction of sw:
road or highway as may be necessary, and unless the lands so taken *
purchased for the purposes aforesaid, the same may be condemned in t»
manner prescribed by law: provided, that said railroad company shall -
a common carrier of freight and passengers, and shall assume all
burdens and liabilities of such, reporting to the corporation commis
and doing any and all things as required by law generally of railroads !
this State acting as common carriers of freight and passengers.

5. That any railroad, transportation, or other company incorporate
in this or any other State may subscribe to and purchase and own ih
stock or bonds, or both, of this company, and may guarantee or ender:
the same, or may purchase, lease, or use the read, property, and frit
chise of this company for so long a time and on such terms as shal. *
mutually agreed upon between the two corporations; that this compat
may subscribe to or purchase and own the stock or bonds, or both, o/ an
other railroad or other company incorporated in this or any other Stat
and may guarantee or endorse such stocks or bonds, and may purchas
lease, or use the road, property, or franchise of such company upon su
terms and for such time as may be agreed upon between the two com
panies.

6. That this company is authorized and empowered to borrow mon?
for the purposes of the company to such an extent and at such law
rate of interest as a majority of the board of directors may determi
upon, and issue therefor its bonds in such manner and form as mar }
determined upon by the directors, and to secure the said bonds by ce
of trust or mortgage upon the whole or any part of the said road proper!
and franchise of the company as the directors may determine. And th
directors are hereby authorized to sell said bonds when and where an
for such price as they may determine most advantageous for the compan;

%. That this company is authorized and empowered to consolidate !!
capital stock, property, and franchise with those of any other railroad °
other company incorporated under the laws of this or any other Stat
and such company is hereby authorized to merge and consolidate wit
this company, and that the consolidated company shall have all the right:
powers, and privileges and franchises as cach of the companies there‘
fore had; that such consolidation may be effected in such a manner am
on such terms as a majority of the stockholders of each of the said cor
panics may determine.

8. The works authorized under this act shall be commenced within t¥
vears, and the main line completed within five years from the passage "
this act. .

9. The board of directors may establish offices and agencies at suc
places as they may deem proper, but the principal office of the compaq:
shall be located at some place in the State of Virginia. .

10. All taxes and levies issued against said company shall be paid 7
lawful money of the United States, and not in coupons.

11. That this act shall be in force and effect from and after its passa