Chap. 236.—An ACT to incorporate the Richmond and Tidewater
coal and railroad company.

Approved February 17, 1890.

1. Be it enacted by the general assembly of Virginia,
That F. C. Dininny, F.C. Dininny, junior, M. Jones, James
R. Werth, and F. M. Seymour, and their associates, suc-
cessors, and assigns, and such other persons as may here-
after be associated with them, be, and they are hereby,
made a body politic and corporate, under the name and
style of the Richmond and Tidewater coal and railroad
company, and by that name shall be known in law, and
shall have perpetual succession, and have power to sue and
be sued, plead and be impleaded, defend and be defended
in all courts, whether in law or equity, and may have a
common seal, and alter or renew the same at pleasure;
and shall have, enjoy, and exercise al] the rights, powers
and privileges pertaining to corporate bodies and necessary
for the purposes of this act; and make by-laws and rules
and regulations, consistent with the laws of this state, for
the government of all under its authority, the management
of its estate and properties, and the due and orderly con-
duct of its affairs.

2. The capital stock of said eorporation shall not be less
than fifty thousand dollars, and may be increased to an
amount not exceeding one million dollars by the issue and
sale of shares, the par value of which shall not be less than
one hundred dollars, from time to time, as the board of
directors of said company may determine. The said com-
pany or its board of.directors may receive for the stock in
lieu of money, subscriptions in lands, mineral rights, lum-
ber, labor and construction and outfit material, or any real
or personal property, at such price as they may be able to
agree upon with such subscribers, and no subscriber to any
of the stock of said company shall be liable upon paid-up
shares of the stock issued to him by the said company
or its board of directors.

3. The persons named in this act shall compose the
board of directors of the said company until the first
meeting of the stockholders thereof. At such first meet-
ing, and at every annual meeting thereafter, so many
directors shall be elected as may be prescribed by the by-
laws and regulations of said company, who shall continue
in office until their successors are elected and qualified.
The board of directors shall be composed of stockholders
in said company. They shall appoint one of their num-
ber president, and may fill any vacancy that may occur in
said board until the next annual meeting of stockholders.
Whenever the minimum amount of stock herein named
shall have been subscribed, and the board of directors
shall have elected a president, said company shall be con-
sidered legally organized and may proceed to the trans-
action of business. The board of directors may appoint,
to hold during its pleasure, the subordinate officers and
agents of the said company, prescribe their compensations,
and take from them such bonds, with such security, as
they may deem fit.

4. The said company is authorized and empowered to
prospect for, mine, and raise coal, coke, iron, and all other
minerals, and mineral or metallic ores; to prepare the
same and the products thereof for market and transport
and sell the same; to bore for salt, oil, and natural gas,
and manufacture and prepare the same for market, and
sell and dispose thereof; and to this end to construct, lay,
and maintain such pipe-lines as may be proper and need-
ful; to erect and maintain furnaces, forges, machinery,
and all buildings and the necessary appliances and appur-
tenances required in the conduct of their business; to lay
out any of their lands, or any part thereof, into parcels
or lots of convenient size, with intervening roads, lanes,
streets, and alleys; to develop, work, cultivate, improve,
or build upon the same; to lease out any buildings thereon
or otherwise dispose of any of such property in such man-
ner and upon such terms as the said company may think
proper; to conduct a general merchandise business upon
any part of its lands; to purchase, lease, hold, or control,
and grant, bargain, sell, and convey mineral, coal, coke,
and other lands in the counties of Powhatan, Chesterfield,
and Henrico, but not to hold more than six thousand
acres of land in any one county at any one time; to pur-
chase, hold, convey, and grant sufficient land in the cities
of Manchester and Richmond for any depots, sidings, and
turnouts whatsoever, or coal, coke, or other yards neces-
sary for its business.

5. The said company is authorized and empowered to
construct, equip and operate a tramway or railway, with ;
single or double tracks, standard or narrow-gauge, in con-
nection with the use or improvement of any of its prop-
erties. Said tramway or railway may be operated by
horse or steam or such other power as may be adopted by
said company, and may run to or from any of its proper-
ties, from and through any or all of said counties of
Powhatan, Chesterfield, and Henrico, and said company
may make connection with any railroad traversing any
of said counties, or may terminate on James river; but
any such railway shall not exceed fifty miles in length,
and in respect thereto the said company shall have all the
rights and be subject to all the duties of a common car-
rier. ‘he said company shall have the power to make all
necessary condemnations for its right of way and for ter-
minal facilities as are provided for and in the manner
prescribed by the laws and statutes of this state.

6. The said company may, at any point on James river
within any one of said counties, contract for and erect |
piers and wharves, warehouses, and elevators for the pur-
poses of their business, and may store goods, wares, and
merchandise, and grant certificates therefor in such form
and under such rules and regulations as the said com-
pany may from time to time prescribe. The said com-
pany may purchase and own vessels and ships, and trans-
port their coal and other products therein, and may carry
goods and wares, packages, and freight to any point for
any other persons or parties.

7. It shall be lawful for the said company to borrow
money and to issue and sell its bonds from time to time
for such sum and on such terms as its board of directors
may deem expedient and proper, in the prosecution of
any of its work, and may secure the payment of said
bonds by mortgages or deeds of trust upon all or any por-
tion of its property or franchises, including its franchise
to be a corporation. It shall be lawful for the said corpo-
ration to subscribe to or purchase and hold shares in the
capital stock of any railroad company, or other corpora-
tion, whenever the board of directors shall deem it to be
its interest to do so. It shall be lawful for the said cor-
poration to acquire by purchase any railway, railroad
property, and equipment and rolling stock, or any other
property from any other corporation or person: provided,
such railway shall conform in its location, limits, and
extent to any railway which said corporation might con-
struct under the powers of this act.

8. The annual meeting of the stockholders of the said
company shall be held at some place in the state of Vir-
ginia, and at a time to be fixed by the directors or stock-
holders of said company. A general meeting of the stock-
holders may be held at any time as provided for by the
statutes of this state.

9. Whenever this corporation shall exercise any of the
privileges conferred by this act it shall be liable to the
same taxes as may be imposed by law upon similar cor-
porations, and all taxes and demands due the state of Vir-
ginia shall be paid in lawful money of the United States
and not in coupons.

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