Chap. 727.—An ACT to incorporate Bay Shore terminal company.

Approved March 3, 1900.

1. Be it enacted by the general assembly of Virginia, That 8. Q.
Collins, H. L. Page, A. E. Krise, B. W. Leigh, and J. Edward Cole,
their associates, successors, and assigns be, and they are hereby, incor-
porated under the name and style of Bay shore terminal company, and
by that name shall be known in law, and as such are authorized anid
empowered to locate, construct, equip, and operate a railroad in the city
of Norfolk, and from said city by such route as may be deemed most
practicable by the directors of said company, to a point on or near ihe
Chesapeake bay, and to construct and maintain depots, station-houses,
warehouses, and docks, and to construct for the use thereof, so as to
provide all necessary facilities for interchange traffic, and other accom-
modations for all kinds of shipping; and the said company may acquire
by purchase or lease lands and sites for the purpose of maintaining parks,
picnic grounds, pavilions, and so forth, for the convenience and pleasure
of its patrons and the public generally.

2. The said company shall have perpetual succession, and a common
seal, which it may alter and renew at pleasure; and may sue and be sued,
and shall have the power to acquire by condemnation in accordance
with the laws of the state of Virginia, all lands required for the rights
of way of its tracks, and the necessary stations and depots for its opera-
tion; and shall have, possess, and enjoy al] of the rights and privileges
necessary for the purpose of its incorporation, and which are not in
conflict with the general laws of the state of Virginia.

3. The capital stock of said company shall not be less than five thou-
sand dollars nor more than fifty thousand dollars of the par value of one
hundred dollars per share; and the directors may receive cash, labor,
material, bonds, real and personal property in payment of subscription
to the capital stock at such valuations and at such prices as may be agreed
upon between the directors and the subscribers, and make such sub-
scriptions payable in such manner or amount and at such time as may
be agreed upon with the subscribers.

4, It shall be lawful for said company to borrow money and issue and
sell bonds from time to time, and for such sums and on such terms
as the board of directors may deem expedient and proper for any of the
purposes of the company; and may secure the payments of such bonds
or mortgages or deed of trusts upon all or any portion of its property,
real or personal and mixed, its contracts and privileges, rights of way
and franchises, including its franchises to be a corporation; and it may,
as the business of the company shall require, sell, lease, convey, and
encumber the same, and it shall be lawful for said company to subscribe
to and hold the stock and bonds of mining, manufacturing, or other
corporations which may subscribe to, guarantee, and hold the stock and
bonds of the said company.

5. The said company is authorized and empowered to locate, construct,
equip, and operate any lateral or branch roads or tramways not to
exceed ten miles in length, which a majority of its stockholders may
determine to construct, maintain, equip, and operate, and by such route
as may be determined by its board of directors; and the said company,
may connect, or unite its said railroad with that of any other company
or companies, or consolidate or merge its stock, property and franchises
with and into those of any other company or companies of this or any
other state operating, or authorized to operate, a connecting line of
railroads upon such terms and under such name as may be agreed upon
between the companies so uniting or connecting, merging or consoli-
dating, or may acquire the said property and franchises of such other
company or companies by lease or sale; and for that purpose power is
hereby given to it, and to such company or companies, to make and
carry out contracts as will facilitate and consummate such connection,
merger or consolidation, lease or sale: provided, that a copy of every
such contract of consolidation and merger shall be filed in the office of
the board of public works.

6. Any three of the above named incorporators are hereby authorized
to open books of subscription, as provided by law to the capital of the
company in the city of Norfolk, Virginia, and the said company shall
be required to commence construction of its railroad within two years
from the passage of this act, and to complete the same within five years
thereafter.

7. Whenever the corporation shall have commenced operation of
its railroad, it shall be liable to the same taxes as may be imposed by
law upon other like corporations or persons exercising like privileges,
and all taxes due the commonwealth by said company shall be paid in
lawful money of the United States, and not in coupons.

S, ‘This act shall be in force from its passage.