Chap. 26.—An ACT permitting Subscriptions to the Capital Stock of
Railroad and Canal Vempanies to be paid in Land.

Passed December 19, 1866.
1. Be it enacted by the general assembly of P Vir ginia, That

hereafter it shall be lawful for any railroad or canal company,
which may be projected or in process of construction, to
receive land in lieu of money in payment of subscriptions to
the unsubscribed capital stock thereof; which land may be
received by said company in payment of such subscriptions,
at such valuation as may be agreed upon between said com-
pany an@ the party desiring to make such payment.

2. Such companies ray receive and hold any. real estate,
which: may be thus conveyed to them, in payment of sub-
scriptions to the unsubscribed capital stock thereof, and may
sell, lease, mortgage and encumber the same in such manner
as said company may deem best. .

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