Chap. 18.—An ACT to authorize the Atlantic coast line railroad company of
Virginia to change its name, and to increase the number of its directors
and officers: to authorize said company to increase its capital stock, and
to issue bonds and secure the same by one or more mortgages, and to
authorize the leasing by it and the consolidation therewith of other cor-
porations; and otherwise to enlarge its powers.

Approved January 12, 1900.

Whereas by virtue of an act of the general assembly of a
approved March first, eighteen hundred and ninety-eight entitled ‘
act to authorize the consolidation of the Richmond and Petersburg
railroad company and the Petersburg railroad company, and to authorize
the consolidated company to change its name to the Atlantic coast line
railroad company of \ irginia,” the said companies have been consolidated
under and pursuant to the terms and conditions in said act set forth,
aud the said consolidated company has changed its name to the Atlantic
coast line railroad company o1 Virginia; and

Whereas the said company now desires that its powers shall be enlarged,
and it is deemed desirable that such powers shall be granted on the
terms hereinafter set forth:

1. Be it enacted by the general assembly of Virginia, That in addition
to the powers which it now possesses, the said Atlantic coast line railroad
company of Virginia shall have, and, from time to time as occasion arises,
may exercise the following powers, or any of them—namely:

(a) ‘That with the approval of its stockholders, by a resolution adopted
at a meeting by the aitirmative vote of those owning or representing at
least three-iourths of the entire capital stock of the company, it may,
from time to time, lease, use, operate, consolidate with itself, or purchase
or otherwise acquire, any railroad or transportation company now or
hereafter incorporated by the laws of the United States, or of any of
the states thereof, or any one or more of such railroad or transportation
companies, or any other railroad or transportation company or companies
which now are or hereafter may be leased, or used, or operated by, or con-
solidated with any one or more of such railroad or transportation com-
panies; and from time to time it may consolidate with its capital stock,
property, and franchises, by change of name or otherwise, the capital
stock, property, and franchise of any other railroad or transportation
company, power being hereby granted to any railroad or transportation
company or companies incorporated by or under any act or acts of the
general assembly of the state of Virginia, with the approval of its stock-
holders by a resolution adopted at a meeting by the affirmative vote of
those owning or representing at least three-fourths of the entire capital
stock of the company, to make and carry out such contracts of consolli-
dation or lease, sale, or other method of acquisition: provided, that in all
consolidations a copy of the agreement therefor shall be filed in the office
of the secretary of the commonwealth of Virginia, and that any cor-
poration of this state with which said Atlantic coast line railroad com-
pany of Virginia may consolidate, or which it may lease, shall remain
subject to the jurisdiction of the courts of this state, and all lines of
railroad operated by it in the state of Virginia shall be subject to the
general laws of this state: and provided further, that any stockholder of
such railroad or transportation company, other than said Atlantic coast
line railroad company of Virginia, who dissents from any such consolida-
tion may, within sixty days thereafter, apply by petition to the circuit
court of the city of Richmond to determine the value of his stock, and
shall be entitled to receive from said Atlantic coast line railroad company
of Virginia the value as thus determined of such stock upon transfer
thereof to the said Atlantic coast line railroad company of Virginia.

(b) It may, from time to time, purchase, own, and hold bonds or other
evidences of debt, and shares of the capital stock of any railroad com-
pany or companies formed under the laws of this or any other state, and
from time to time may guarantee or assume the bonds, evidences of
indebtedness, or capital stuck of any such railroad company.

(c) It may, from time to time, acquire or guarantce the stocks and
bonds, or either, of any inland, coast, or ocean transportation company
or Comipanies Operating to or from any point or points on its lines; and
it may develop or aid in the developmcut of its business by acquiring or
guaranteeing the stocks and bonds, or either, of hotel, ighterage, wharf,
elevating, and other such enterprises convenient in connection there-
with, or as a part thereof.

2. That the said Atlantic coast line railroad company of Virginia shall
have the power to increase its capital stock to such an amount as may
be necessary for its purposes, nut to exceed, however, the sum of one
hundred million dollars, and to issue the sume as common or preferred
stock, and on such other terms and conditions as may be approved by its
stockholders in meeting assembled.

3. That the said Atlantic coast line railroad company of Virginia shall
have the right to borrow money and issue bonds or other evidences of
indebtedness, and may secure the same from time to time by mortgage
or deed of trust upon any or all of its property and franchises to such
an amount as may from time to time be approved by its stockholders in
meeting assembled.

4. ‘Lhat the said company shall have the right at any time, with the
approval of its stockholders by a resolution adopted at a meeting by
the atlirmative vote of those owning or representing at least a majority
of the entire capital stock of the company, to change its name to the
Atlantic coast line railroad company.

5. That the said company shall have the right at any tin.e, with the
approval of its stockholders by a resolution adupted at a meeting by the
attirmative vote oi those owning or representing at least a majority of
the entire capital stock of the company, to increase the number of the
directors of said company to a number not exceeding twelve, exclusive
of the president, and to elect and have one or more vice-presidents of
said company.

6. There shall be paid to the clerk of the county or corporation in
which any deed of trust or mortgage authorized by this act may be first
presented for recordation the rate of taxation prescribed by law for the
recordation of deeds of trust or mortgages upon the works and property
of raifroad companies lying partly in this state and partly in another
state. Whenever any such deed of trust or mortgage shall have been
admitted or presented for recordation in one or mure counties or cor-

orations of this state, an exemplification thereof, duly certified by the
clerk of the county or corporation to be a true copy of the said deed of
trust or mortgage as the same has been admitted or presented for record
in his office, may, upon payment of clerical fees be admitted for record
and be recorded in any one or more counties or corporations of this
state, and such record and admission for record shall be as valid and
effectual for all purposes of vesting title, of evidence, and of notice as
the record of the original deed or instrument is now by law held anc
declared to be, and a notation of the record and admission for record o:
any exemplified copy may be noted by the clerk on the original deed
or instrument as well as upon the exemplified copy.

7. That the acceptance of this act by the said Atlantic coast line
railroad company of Virginia shall constitute waiver of any and all
exemption from taxation which it now enjoys by virtue of any act or
law of this state, and the powers granted by this act are given upon the
express condition that from and aiter the date of its acceptance in any
manner by the said company, the whole of its property in this state
shall be liable to taxation as the property of other railroad corporations
in this commonwealth which are subject to taxation for state, city,
county, or other municipal purposes, anything in the charter of the
Richmond and Petersburg railroad company, the Petersburg railroad
company, or any amendments thereof, or in the act approved March
first, eighteen hundred and ninety-eight, entitled “an act to authorize
the consolidation of the Richmond and Petersburg railroad company
and the Petersburg railroad company, and to authorize the consolidated
company to change its name to the Atlantic coast line railroad company
of Virginia,” to the contrary notwithstanding.

8. All taxes and debts due or to become due the commonwealth of
Virginia by the said Atlantic coast line railroad company shall be paid
in lawful money of the United States, and not in coupons.

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