Chap. 197.—An ACT to authorize the transfer of the Property, Charter
and Franchises of the: Manassas Gap Railroad Company, and the Stock
Shares in the same, to the Orange and Alexandria Railroad Company.

9

Passed February 14, 1867.

Whereas, a petition has been presented to the general as-
sembly by the president of the Manassas gap railroad com-
pany, setting forth that a contract is being negotiated between
said company and the Orange and Alexandria railroad: com-
pany, whereby the charter, franchises, and all the property
of the Manassas gap railroad company shall be transferred
to and be vested in the Orange and Alexandria railroad
company; and also, whereby all the stock held in said com-
pany, whether by the state, by the city of Alexandria, by
counties or by individuals, shall, with the consent of the
stockholders, be transferred to and be merged in the said
Orange and Alexandria railroad company, upon the said last
mentioned company complying with and performing the
terms, stipulations and conditions herein set forth, to wit:
That the Orange and Alexandria railroad company shall com-
mence the rebuilding and construction of the Manassas gap
railroad within four months from the passage of this act, and
complete it to Harrisonburg within two years from said date;
and that the sajd Orange and Alexandria railroad company
shall assume the payment of all debts due by said Manassas
gap railroad company, whether bonded or floating, and
whether now ascertained or to be ascertained. And that
the charges for transportation of local freights and passen-
gers shall be the same, pro rata, on the lines ‘of the Manassas
gap and Orange and Alexandria railroads, and that two di-
rectors be added to the board of the Orange and Alexandria
railroad as now constituted, to be elected by the stockholders,
of whom one shall be taken from.the Piedmont and the other
from. the Valley counties, on the line of the Manassas gap
road; and that all the property, rights, charter, franchises
and stock granted and transferred to the said Orange and
Alexandria railroad company by the contract, shall be for-
feited and revert to the Manassas gap company and its stock-
holders, on the failure of the said Orange and Alexandria
railroad company to comply with and perform the conditions
and stipulations of said contract: and whereas, said petition
sets forth that it is necessary in order.to give validity to said
contract and to carry it into effect, that an act of assembly,
authorizing it to be entered into, shall be obtained; and fur-
ther, that to enable the said Orange and Alexandria railroad
company to obtain the money to complete and equip the
said Manassas gap railroad, it should be authorized by law
to borrow a sum not exceeding two million dollars, to issue
the bonds of said company, and to mortgage, both its own
road and the newly acquired Manassas gap road, to secure
the payment of said loan, and it is deemed expedient by the
said general assembly that the prayer of the petitioner be
granted: Now, therefore, , .

1. Be it enacted, That the said companies be and they are
hereby authorized and empowered to enter into a contract
containing substantially the provisions above set forth, and
with the conditions and.restrictions above recited.

2. That when the proposed agreement between the two
companies is effected and confirmed by the stockholders of
both companies, the charter, franchises, (except the right
given to the Manassas gap railroad company by act of assem-
bly, passed february, second, eighteen hundred and sixty-six,
to construct a railroad between Strasburg and Winchester),
the road, and all the property and rights of the Manassas
gap railroad company, be transferred to, and the title to the
same be vested in the said Orange and Alexandria railroad
company.

3. That when the transfer of charter is determined upon
by the respective companies, the Orange and Alexandria rail-
road may assume and be known by the name of. The Orange,
Alexandria and Manassas railroad company.

4. That for the purpose of rebuilding and equipping the
line from Manassas junction to Harrisonburg, the Orange,
Aléxandria and Manassas company shall have power to in-
crease the capital stock of the company by one million dol-
lars, and to issue its stock for the same, and shall have autho-
rity to borrow two million dollars, issue the bonds and
mortgage the lines of the Orange, Alexandria and Manassas
railroad for the payment of the loan: provided, a branch from
some suitable point on said railroad to New Market, in She-
nandoah county, may be made: provided; the citizens of said
town and vicinity shall subscribe to the capital stock of said
railroad the sum of ten thousand dollars, to be applied to
the construction of said branch of said railroad.

5. The said company shall have the right, with the consent
of the Valley railroad company, to extend their road from
Harrisonburg to the terminal point as fixed in its charter,
and for this purpose shall have all the powers conferred by
the Code and laws of, Virginia, and may increase its capital
stock not exceeding two millions of dollars, and borrow such
sums of money as may be necessary, and execute liens upon
its property and revenues to secure the payment of the prin-
cipal and interest thereof: provided, however, said railroad
shall not be extended beyond the town of Buchanan, in the
county of Botetourt. ,

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