Chap. 374.—An ACT to Amend and Re-enact the first, second and third
Sections of the Act to Authorize the Formation of the New River Rail-
road, Mining aud Manufacturing Company, approved March 7th, 1872.

Approved April 2, 1873.

1. Be it enacted by the general assembly, That sections one,
two and three of an act to authorize the formation of the New
River Railroad, Mining and Manufacturing Company, approved
March seventh, eighteen hundred and seventy-two, be amended
and re-enacted so as to read as follows:

§ 1. Be it enacted by the general assembly of Virginia, That
it shall be lawful for the following named persons, viz: Richard
Wood, John T. Cowan, James A. Walker, William T. Yancey,
Jr., J. M. French, T. J. Munsey, Rees T. Bowen, Dale Carter,
William Mahone, Charles W. Statham, R. EB. Wolfe, M. Ratliff,
S. H. Newberry, Jack Carter, Joseph H. Chumbley, A. H. Flan-
nagan, J. H. A. Smith, W. P. Cecil, William T. Moore, Philip
W. Strother, John C. Snidow, William Eggleston, Martin Dal-
ton, S. M. Dickey, M. Kinser, G. C. Wharton, A. A. Chapman,
Robert W. Hughes, Elbert Fowler and A. Gooch, any five of
whom acting as commissioners, to proceed to and effect the or-
ganization of an incorporated company, to be known and enti-
tled the New River Railroad, Mining and Manufacturing Com-
pany; which said company, upon the formation thereof as
herein provided, shall be authorized to construct, maintain and
operate a railroad from New Aver depot, a point on the line of
the Virginia and Tenneesee division of the Atlantic, Mississippi
and Ohio railroad, in the county of Pulaski and state of Vir-
ginia, to such point as may be agreed upon on the line dividing
the states of Virginia and West Virginia; and the said New
River Railroad, Mining and Manufacturing Company shall
have the privilege of constructing, maintaining and operating
such branch roads as may be necessary to bring out coal, iron
or other ores from the counties of Gules, Bland, Tazewell,
Russell, Wise, Buchanan, Pulaski, Montgomery, Carroll and
Grayson; and the said New River Railroad, Mining and Man-
ufacturing Company shall be further empowered to acquire
ownership of land for mining and manufacturing purposes, and
shall be entitled to enjoy all the rights and privileges conferred
by the laws of the state of Virginia upon railroad corporations
and mining and manufacturing companies, and shall be subject
to the restrictions imposed by such laws upon like corporations.

§ 2. The capital stock of the New River Railroad, Mining
and Manufacturing Company shall not exceed four millions
dollars, to be divided im shares of one hundred dollars each;
each share subscribed to be entitled to one vote in all meetings
of the company, and fifty thousand dollars shall be taken as
the minimum subscription on which said company may be
organized. °

§ 3. That the commissioners aforenamed may proceed, in
such manner as they deem most expedient, to obtain subscrip-
tions to the capital stock of said company, and it shall be law-
ful for any railroad, mining or manufacturing company to sub-
scribe to and hold stock in the said New River Railroad, Min-
ing and Manufacturing Company. It shall also be lawful for
the counties of Montgomery, Pulaski, Carroll, Grayson, Bland,
Giles, Tazewell, Russell, Wise and Buchanan, in their corporate
capacities, to subscribe to the capital stock of the New River
Railroad, Mining and Manufacturing Company. Whenever
such subscriptions shall be authorized by a vote of the people
of such counties as provided by the laws of the state of Vir-
ginia, and to make payment of any such subscriptions so au-
thorized, it shall be lawful for the said counties to issue bonds
and to secure the payment of interest and principal of the
same by a special tax upon such subjects as are taxable by the
state of Virginia, sufficient to pay current interest thereon and
to provide a sinking fund adequate to the ultimate discharge
of the principal thereof at maturity.

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