Chap. 49.—An -ACT to construct the Clinch Valley Railroad.

Passed January 10, 1867.

1. Be it enacted by the general assembly, That it shall be
lawful to open books of subscription in Princeton, in the
county of Mercer, West Virginia, under the direction of R.
B. MeN utt, Elijah Baily, Gordon L. Jorden, James Rose and
William H. French; in Jeffersonville, in the county of Taze-
well, under the direction of James W. Thompson, James P.
Kelley, Patton Spracher, D. B. Baldwin and William O.
Yost, or ‘any two of them; in Liberty, in the county of
Tazewell, under the direction of T. J. Higgenbotham, R. T.
Bowen, H. 8. Bowen -and Robert Barnes, or any two of
them; at Blue Stone, in the county of Tazewell, under the
direction of Z. 8. Witten, George P. George, Mosby B. Davis
and William R. Bane, or any two of them; in Lebanon, in
the county of Russell, under thé direction of Thomas @. M.
Alderson, Isaac Vermillion and Samuel W. Aston, or any
two of them; at Dickensonville, in the county of. Russell,
under the Wirection of William B. Aston, Williant Sample
and James H. Dickenson; in Nickelville, in the county of
Scott, under the direction of John G. Nickels, William Ro-
binson and James H. Shoemaker, or any two of them; in
Estillville, in the county of Scott, under the direction of
Charles Quillen, James O. Wood and James L. Shoemaker,
or any two of them; and in such other places, and under the
direction of such agent or agents as a majority of the com-
missioners at either 6fsthe above places may designate, for
the purpose of receiving subscriptions to the amount of two
millions of dollars, in shares of one hundred dollars each, to
constitute a joint capital stock for the purpose of making a
railroad from some point on the Covington and Qhio rail-
road, near the mouth of the Greenbrier river, through the
county of Mercer, in West Virginia, and the counties of
Tazewell, Russell and Scott, in Virginia, to some point on
the Virginia and Kentucky railroad, most consistent with
the public interests of this improvement, and providing eve-
rything for convenient transportation on the same.

2. Whenever one hundred thousand dollars of stock shall
have been subscribed, the subscribers, their executors, ad-
ministrators and assigns, shall be and are hereby declared to
be a body politic and corporate, under the name and style of
The Clinch Valley Railroad Company, and shall be subject
to all the provisions of the Code of Virginia applicable to
internal improvement companies, except so far as the same
may be inconsistent with the provisions of this act.

3. It shall be lawful for the directors, or a majority of
them, from time to time, to increase the capital stock of said
company by the addition of so many shares as they may
deem necessary, for which they may, at their discretion, cause
subscriptions to be received, in such manner as may be pre-
scribed by them, or may sell the same for the benefit of the
said company, for any sum not under the par value thereof;
and the said directors, or a majority of them, shall, by and
with the consent of the stockholders in general meeting as-
sembled, have power to borrow money for the purpose of
this act, and to issue proper certificates of such bonds, and
to pledge the property of the company, by mortgage or oth-
erwise, for the payment of the same and the interest that
may accrue thereon. .

4. This act shall not be in force, nor shall any of the cor-
porate rights or privileges herein granted attach, until the
consent of the legislature of West Virginia shall have been
obtained. ‘

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