CHAP. 420.—An ACT to incorporate the Buena Visla street rail-
way company.

Approved March 8, 1890.

1. Be it enacted by the general assembly of Virginia,
That R. S. Brock, A. C. Denniston, William Patrick, Ed-
ward Echols, A. C. Gordon, John T. Stuart, W. S. Hop-
kins, and Greenlee D. Letcher, or such of them as may
accept the provisions of this act, their associates, succes-
sors, and assigns, be, and they are hereby, incorporated
and made a body politic and corporate under the name
and style of the Buena Vista street railway company,
and by that name shall be known in law, and as such
are authorized and empowered to locate, construct, main-
tain, and operate a street railway on any streets or high-
ways in or in the vicinity of Buena Vista, Rockbridge
county, for public use in the conveyance of passengers by
any power other than by locomotive, and to collect tolls
and fares on the same.

2. Such street railway shall not be located or constructed
except with the consent first had and obtained of the local
authorities having control of the streets or highways pro-
posed to be used, but such railway shall not be located or
constructed except with the consent of and under such regu-
lations as may be imposed by the local authorities having
control of the streets or highways proposed to be used,
and where said company desires to use any street or high-
way laid out or opened by or at the expense of the Buena
Vista company, the consent and approval of the Buena
Vista company in writing, under its corporate seal, must
also be previously had and obtained, and the terms and
conditions of such consent and approval accepted and
complied with.

3. The roadway and tracks of said company shall be
constructed, operated, and maintained by it in such man-
ner as not to interfere with or obstruct the ordinary use of
the streets or highways used by it, and the said company
shall at all times keep the streets and highways so used
by it in good order and repair.

4. The said company shall have perpetual succession,
and have power to sue and be sued, plead and be im-
pleaded, defend and be defended in all courts, whether in
law or in equity, and may make and have a common seal
and alter or renew the same at pleasure, and shall have
and possess and enjoy all the rights and privileges of a
corporation or body politic in the law necessary for the
purposes of this act.

5. The capital stock of said company shall not be less
than twenty thousand dollars, and may from time to time,
with the consent of a majority of the stockholders, be in-
creased to an amount not exceeding one hundred thousand
dollars, by issue and sale of shares, the par value of which
shall not be less than fifty dollars, from time to time, under
such regulations as the board of directors of said com-
pany shall from time to time prescribe, and the directors
may receive cash, labor, material, real and personal pro-
perty suited to the business of said company, in payment
of subscriptions to the capital stock, at such valuations as
may be agreed upon between the directors and subscribers,
and may make such subscriptions payable in such manner
or amounts at such times as may be agreed upon with the
subscribers.

6. It shall be lawful for the company to acquire by
donations or purchase, land for right of way, depots, sta-
tions, and other purposes necessary for the successful con-
struction and operation of its road, and to contract with
other corporations for the supply of power it may require
for the operation of its line.

7. It shall be lawful for said company to borrow money
or issue and sell its bonds from time to time, for such
sums and on such terms as its board of directors may
deem expedient and proper, and to secure the pay-
ment of said bonds by mortgages or deeds of trust upon
all or any portion of its property, railroads, and fran-
chises, including its franchises to be a corporation.

8. The said company shall! be required to commence the
construction of said raiiroad within three years from the
passage of this act, or otherwise the powers, privileges, and
franchises hereby granted shall be annulled and become
void.

9. The persons first named in this act, or such of them
as shall accept the provisions thereof, shall have the
power and authority of a president and board of directors
for the purpose of organizing, and all other purposes.
They shall constitute the board of directors for the first
year, and shall continue in office until their successors
shall be elected and qualified. Each stockholder in the
company shall at all meetings or elections be entitled to
one vote for each share of stock registered in his name.

10. The board of directors shall be stockholders of said
company. They shall appoint one of their number presi-
dent, and may fill any vacancy that may occur in said
board, unless by removal, in which case the same shall be
filled by the stockholders in general meeting. Whenever
twenty-five per centum of the capital stock shall have been
subscribed, and the board of directors shall have elected a
president, said company shall be considered legally organ-
ized, and may proceed to the transaction of business.

11. All taxes and debts due and to become due to the
commonwealth by said company shall be paid in lawful
money of the United States and not in coupons.

12. This act shall be in force from its passage, but the
general assembly of the state of Virginia reserves to itself
the right to modify, alter or repeal this act at any time
hereafter.