An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1872/1873 |
---|---|
Law Number | 328 |
Subjects |
Law Body
Chap. 328.—An ACT Incorporating the Rappahannock and Hanover
Junction Railroad Company.
Approved March 31, 1873.
1. Be it enacted by the general assembly, That William c
Sperry, Charles B. Dungan, Thomas F. Shewell, Benjamin
Price, Thomas Croxton, James Roy Micou, Henry W. Danger-
field, B. B. Brockenbrough, L. D. Roane, T. R. B. Wright, J.
T. Farland, A. R. Micou, R. T. Cauthorn, T. P. Boughan,
James H. Latane, John J. Wright, John R. Mortey, Dr. John
M. Garnett, B. F. Dew, T. Bagby, W. D. Quesenberry, Dr. J.
D. Butler, J. M. Wyatt, James Hunter, are hereby appointed
commissioners to open books and receive subscriptions to the
capital stock of a joint stock company, at such times and places
and in such manner as they or any five of them may designate,
for the purpose of constructing a railroad from a point on the r
Chesapeake and Ohio railroad at or near Hanover Junction, to ™
the town of Tappahannock, on the Rappahannock river, with
authority to connect with any other railroads that are now or p
may be constructed across its line or from any point thereon; ?
that the said subscribers and their successors shall be and are R
hereby incorporated ‘as the Rappahannock and Hanover Junc- 5
tion Railroad Company, and invested with all the corporate '
rights and privileges conferred and subject to all the restric.”
tions imposed by the Code of eighteen hundred and sixty, and
general laws applicable to such incorporated companies; until
the first election of a board of directors under this charter, p
any five of the said subscribers shall be empowered to act as »!
such for this company.
2. That the capital stock of the said company shall be five c:
thousand shares of one hundred dollars each, and shall be
deemed personal property, with authority to the company to
increase the same, from time to time, by the board of directors,
to such an amount as they may deem necessary for the inter-
est of the company, not exceeding one million of dollars.
3. The board of directors of the said company, to fully equip
said railway, shall have the power to issue bonds in such sums,
not less than one hundred dollars each, bearing interest not
exceeding eight per cent., payable, principal and interest, at
such times and places and in such manner as may be deemed
most advantageous to said company, and may secure the same
by one or more mortgages on the road, franchise, income, and
real and personal property of the company, or such parts
thereof as may be designated in the mortgage or mortgages.
4. That it shall be lawful for the said company to acquire,
in subscription to the capital stock of said company or by do-
nation or otherwise, lands, property, materials or labor, and to
receive subscriptions from other companies, associations or cor-
porations, and to make such arrangements as shall be mutually
agreed upon by the respective boards of directors for such
companies, associations or corporations for the endorsement,
sale and exchange of stock and bonds as to increase facilities
for a speedy completion of said road; and the said company
may sell or otherwise dispose of any lands or other property
acquired under this section at their pleasure.
5. The said company shall allow any railroad already built,
or which may hereafter be built, to connect with its road, and
the said company shall have the ‘right to connect with any rail-
road now or hereafter to be constructed, from any point on or
across the route thereof, subject to the provisions of the fifth
section of chapter sixty-one, Code of eighteen hundred and
sixty; no discrimination shall be made in the charges of said
company against the trade and travel of any connecting work,
but it shall jointly with such connecting road make suitable
arrangements for the convenient transfer of freight from one
road to the other, and, the gauge permitting, for a free inter-
change of freight cars upon reasonable terms, and no discrimi-
nation shall be made in the charges of any connecting work
against the trade and travel of the said company.
6. That any county along the line of said road, or of any
connecting roads, is hereby authorized, in the manner and
under the regulations prescribed by law, to subscribe to the
capital stock of said company, each an amount not exceeding
two hundred thousand dollars, and to this end it shall be the
duty of the county courts in such counties, in their discretion,
to cause a vote to be taken in the manner prescribed by law,
at such time as the president and directors of said Rappahan-
nock and Hanover Junction Railroad Company may ask, and
issue bonds in such form, running such length of time and
bearing such rate of interest, and payable at such period
and places as the county courts of said counties may deter-
mine, and to guarantee the payment of such bonds, so issued,
whenever the qualified voters, in the manner above prescribed,
shall authorize.
7. The said company may receive in subscription to its
stock, or otherwise, land to the quantity of forty thousand
acres, to be held, used and disposed of as the directors of the
sald company shall deem best for the interest of the company.
8. The construction of the said Rappahannock and Hanover
Junction Railroad shall be commenced within two years, anc
be completed within five years from the passage of this act.
9. This act shall be in force from its passage.