Chap. 115.—An ACT to incorporate Doran coal and railway company.

Approved February 13, 1901.

1. Be it enaeted by the general assembly of Virginia, That J. W.
Crockett, G. W. Gillespie, J. I. Hurt, A. J. Mav, J. S. Moss, and A.
St. Clair, or such of them as may accept the provisions of this act, their
associates, successors, and assigns be, and they are, hereby incorporated
and made a body, politie and corporate, under the name and stvle of the
“Doran coal and railway company.” and by that name shall be known
in law, and as such are authorized and empowered to survey, locate,
construct, equip. and operate a line of railroad of a narrow or standard
gauge, beginning at some point at or near Doran, in Tazewell county,
Virginia; thence up Mud lick creek, in Tazewell county, and into Buch-
anan county to any point which the board of directors of said company
may designate in either of said counties; full power and authority is
hereby given to said company to pass through either or both of said
counties by any route the said company may adopt.

2. The said company shall have perpetual succession and have power
to sue and be sued, plead and be impleaded, defend and be defended in
all courts, whether in law or equity, and may make and have a common
seal and alter and renew the same at pleasure; and shall have and possess
and enjoy all the rights and privileges of a corporation or body politic.
in the law, necessary for the purposes of this act.

3. The capital stock of said company shall not be less than fifteen thou-
sand dollars, and not more than twenty-five thousand dollars, divided into
shares of the par value of one hundred dollars each. The above-named
J. W. Crockett, G. W. Gillespie, J. F. Hurt, J. S. Moss, and A. St. Clair.
or any three of them, are hereby created a commission, and are authorized
to receive subscriptions to the capital stock of said corporation. and for
this purpose may open subscription books in such manner, and after such
notice, as they may deem necessary, and may keep the same open until
the minimum amount above-named shall have been subscribed. There-
after, within their discretion, they may call a meeting of the subscribers,
and organize the company. From time to time the capital stock may
be increased, under such regulations and upon such terms and at such
price as the board of directors of said company may prescribe, until the
maximum amount above named shall have been issued; and the board
of directors may receive cash, labor, material, franchises, bonds, or stock
of other incorporated company, lands, rights-of-way, and other prop-
erty, real or personal, in payment of subscriptions to the capital stock
at such valuation as may be agreed upon.

4. It shall be lawful for said company to transport passengers, express,
freight and baggage and mails of the United States, and to collect fare
and tolls for the same. The said company may use either horses, cable,
steam, compressed air, or electric power, to propel the cars on said road.

5. It shall be lawful for the company to acquire by gifts, purchase, or
lease, or condemnation, land for its right of way, depot, station and other
purposes necessary for the successful construction and operation of its
road through any of said counties, and the said company may acquire
by condemnation such land as may be needed for its right of way, and
for its necessary station, offices, depots, and for such other purposes as
is necessary for the proper conduct of its business, and may connect or
unite its line or lines of railroad with any other railroad heretofore in-
corporated, or hereafter to be incorporated by the general assembly of
Virginia, or may consolidate its stock, property, or franchises with those
of any other railroad company, upon such terms as may be agreed upon
between the respective board of directors of such companies so united
or consolidated, and for such purposes, power is hereby granted it and to
such other company or companies to make and carry out such contracts
as will facilitate and complete such connection or consolidation,

The said company may sell or lease the whole or any part of its rights,
properties, appurtenances, or franchises to any other railroad, and may
acquire or lease from the owners of such other railroad companies the
whole or any part of its rights, properties, appurtenances, or franchises.

6. The said company may acquire, by subscription, purchase, or other-
wise, the stock or bonds of any other incorporated company, and it shall
be lawful for said company to issue or sell its bonds from time to time
for such sums and upon such terms as its board of directors may deem
expedient; and may secure the payment of any bond by deed or deeds of
trust, or mortgage or mortgages, upon all or any of its rights, property,
railroad appurtenances, and franchises, including its franchise to be a
corporation; and may reserve the right to the company to confer on the
holders of any bond of said company the right to convert the principal
thereof into stock of said company at any time; and any other incorpo-
rated company may, by purchase, subscription, or otherwise, obtain, hold.
or transfer the bonds or stock of said company.

7. The officers of said corporation shall be a president, vice-presi-
dent, secretary and treasurer, and a board of directors, including the
president and vice-president, who shall be ex-officio members, and such
other officers as the board of directors may, from time to time, determine;
and the terms of office, modes of election, and duties of said officers shall
be prescribed by the by-laws of said corporation, subject to the general
law of the state.

8. The principal office of said corporation shall be in the county of
Tazewell, Virginia.

9. All taxes due to the commonwealth by said company shall be paid
in lawful money of the United States and not in coupons.

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