CHAP. 25.—An ACT to authorize the Norfolk and North Carolina
canal company, as successors to the Dismal Swamp canal com-
pany, to increase its capital stock and issue bonds.

Approved December 20. 1889.

Whereas the rights, franchises and property of the
Dismal Swamp canal company were recently sold under a
deed of trust from said company, dated first day of July.
eighteen hundred and eighty-two, and also by virtue of
an order of the corporation court of the city of Norfolk,
pronounced on the twenty-fourth day of October, eighteen
hundred and eighty-eight; and whereas the said com-
pany has been reorganized by the purchasers under the
name of the “Norfolk and North Carolina canal com-
pany,” by virtue of the general provisions of the law, as
contained in sections one thousand two hundred and
thirty-three, to one thousand two hundred and thirty-six,
inclusive, of the code of Virginia, edition of eighteen
hundred and eighty-seven; and whereas the said Norfolk
and North Carolina canal company, having thus succeeded
to the rights, franchises and property of the said Dismal
Swamp canal company, desires to make extensive improve-
ments and accessions to the property so acquired by it, to
accomplish which it is expedient that the said Norfolk
and North Carolina canal company shall have power to
increase its stock beyond the present limit of three hun-
dred thousand dollars, and to issue bonds; therefore,

1. Be it enacted by the general assembly of Virginia,
That the said Norfolk and North Carolina canal company
may, from time to time, by a vote of a majority of its
stockholders, increase its capital stock to a sum not ex.
ACTS OF ASSEMBLY.

ceeding two millions of dollars, divided into shares of one
hundred dollars, each share being entitled to one vote,
and may prescribe the manner in which the same shall
be subscribed for, or otherwise disposed of, for the pur-
poses of the company.

2. The said company shal] have power to enlarge and
improve the existing canal, its branches, feeders, locks
and works generally, and to dispose of its supply of water
in such manner as a majority of-its stockholders may
from time to time elect, and for such purposes, and any
other purposes of said company, it shall have power to
borrow money, issue its bonds, and secure the same by
deed of trust or mortgage on its franchises and property,
or any part thereof.

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