Chap. 184.—An ACT to Incorporate the Staunton River Navigation Com-
pany.

Approved March 23, 1871.

1. Be it enacted by the general assembly, That it shall be
lawful to open books of subscription at Green Hill, in the
county of Campbell, under the direction of Addison Moe,
John Wimbush, Bolling Clark, John H. Sweeney, and R. C.
Hawkins; at Leesville, in the county of Campbell, under the
direction of Charles H. Lynch, Littlebury Moon, Morton Pan-
nill, James L. Arthur, H. T. Turner, and Burwell Lee; at Hill
Grove, in the county of Pittsylvania, under the direction of
Samuel M. Stone, Thomas C. Creasy, Thomas Hamner, Wil-
liam Johns, and John L. Hurt; at Bergess store, in the said
county, under the direction of Walter Coles, David 8S. Graves,
F. L. N. Graves, George T. Berger, and Clark Stone; at
Halesford, under the direction of B. N. Hatcher, Alexander
i. Holland, and Lewellen H. Powell; at Kasey’s store, in the
county of Bedford, under the direction of George G. Saun-
ders, Joseph Parker, Matthew R. Allen, William C. Kasey, B.
H. Moulton, and E. C. Cundiff, for the purpose of receiving
subscriptions to an amount not less than five thousand and not
more than one hundred thousand dollars, in shares of fifty
dollars each, to constitute the capital stock of a company to
be called The Staunton River Navigation Company, for the
purpose of cleaning out, deepening, improving and opening
up for navigation by steamers, flat-boats, batteaux, keel-boats
and river craft, the Staunton river and its tributaries, from a
point on the dividing line between the counties of Halifax and
Campbell, near Pannill’s old bridge, to the source of said river
and its tributaries, through and bordering upon the counties
of Halifax, Campbell, Pittsylvania, Bedford, Franklin and
Roanoke; and to build suitable boats and vessels, and to run
the same for the purposes of navigation and river transporta-
tion upon said river and tributaries, above the aforesaid Pan-
nill’s old bridge.

2. Said company shall have the right to purchase and hold
land in the county of Franklin, Bedford, Pittsylvania, Campbell,
Halifax and Roanoke, in sufficient quantities tor the purposes of
erecting depots, docks, boat yards, and other necessary build-
ings, along the line of said company, not to exceed five hundred
acres; and may hold and employ such machinery, boats and
other appliances as their business may require; and they are
hereby invested with all the rights, powers and privileges con-
ferred, and subject to all the rules, regulations and restrictions
imposed, upon bodies politic and corporate by the Code of
Virginia, so far as the same are applicable to, and not incon-
sistent with this act.

3. It shall be lawful for said company to receive not exceed-
ing thirty thousand acres of land in payment for subscriptions
for stocks: provided, however, that it shall not be lawful for
said company at the expiration of fifteen years, after the com-
mencement of navigation upon said line, to hold more land
than shal] be necessary for the use of said company.

4, Any mining, manufacturing, banking, railroad, navigation,
or other internal improvement company, in which the state
has no interest, may subscribe to the stock or guaratee the
bonds of said company.

5. It shall be lawful for the said company, for the purpose
of constructing and equipping the necessary boats, machinery,
and other appliances, and for the purpose of operating the
said navigation company, to sell their bonds, with coupons at-
tached, at a rate of interest not exceeding that allowed by
law, to be paid semi-annually, to an amount not exceeding the
amount of stock subscribed and actually paid up; and also to
borrow, upon their promissory notes, duly executed under the
authority of the board of directors, an amount not exceeding
twenty thousand dollars, and to lease their franchises to any
person or persons, or domestic or foreign corporation.

6. Whenever five thousand dollars of stock shall have been
subscribed, the subscribers, their executors, administrators and
assignees, shall be, and they are hereby, declared to be a body
politic and corporate, under the name and style of The Staunton
River Navigation Company, and by that name may sue and be
sued, plead and be impleaded, in all the courts of this com-
monwealth, and have perpetual succession and a common seal,
and the same to make, break, alter and destroy, at its pleasure,
and shall have the power to call a meeting of the subscribers to
the stock for the purpose of electing a president and directors.

7. The president and directors shall have power to make
such by-laws and regulations for the government of said com-
pany, not contrary to the laws of the United States or of this
state, as they may deem proper, and to appoint such officers
and agents as they may find necessary for carrying on the
business of the company.

8. So much of an act passed February nineteenth, eighteen
hundred and sixteen, entitled an act incorporating a company
for the purpose of improving the navigation of Noanoke river
and its branches; and acts amendatory thereof, as may conflict
with this act, and all other acts in conflict herewith, are hereby
repealed.

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