CHAP. 457.—An ACT to incorporate the Appomattox, Bucking-
ham, and Cumberland railroad company.

Approved March 3, 1890.

1. Be it enacted by the general assembly of Virginia,
That Samuel F. Coleman, W. M. Cabell, H. D. Flood, Nor-
man V. Randolph, W. S. Archer, and F. D. Hill, and such
other persons and corporations as they may associate with
them, and their successors, be, and they are hereby, made
and constituted a body politic and corporate by the name
of the Appomattox, Buckingham, and Cumberland rail-
road company; and shall have all the powers, rights, and
franchises necessary or proper for the purpose of locating,
constructing, equipping, maintaining, and operating a rail-
road, with such number of tracks as they may desire, from
Appomattox courthouse to Cumberland courthouse, or
some point on the Farmville and Powhatan railroad west
of the said Cumberland courthouse, in the county of Cum-
berland.

2. Any four of the corporators hereinbefore named may
organize the company by electingsa president and board of
directors, and may elect and appoint such other officers as
may be necessary for the proper management of said com-
pany’s affairs; and thereupon they shall have and exercise
all the general powers and functions of a corporation, and
be subject to all restrictions imposed by the laws of the
state applicable to interna! improvement companies, except
so far as the same may be changed or modified by this act.

3. The said company shall have authority in prosecuting
their work to build their road or any part thereof of any
gauge or description, single or double track, and operate
the same in such manner as the said company may deter-
mine and direct as best for their interest, with the right
to change or modify the gauge or otherwise alter the struc-
ture and operation of their said road at any time, as their
means or interest may justify or require.

4. The capital stock of this company shall not exceed
ten thousand dollars per mile, to be divided into shares of
the par value of one hundred dollars each, and said stock
may be all common, or such part or parts preferred, as said
company may from time to time determine. Each share
of stock shall be entitled to one vote.

5. It shall be lawful for said company to acquire in sub-
scriptions to the capital stock of said company or by dona-
tions, money, lands, land, or other damages, work, labor,
materials, property, bonds, or other means available for
their purposes, and to receive subscriptions from individ-
uals, other companies, associations, or corporations; and
the said company may sell, lease, or otherwise dispose of
any lands or properties acquired under this section.

6. The counties of Appomattox, Buckingham, and Cum-
berland may subscribe to the capital stock of said com-
pany in the manner and upon the conditions prescribed
by the statutes of Virginia, except that the amount of the
subscriptions may be three thousand three hundred and
thirty-three dollars per mile, and the subscription may be
inade if it shall appear by the report of the board of com-
missioners appointed to carry out the wishes of the voters
at the election upon subscription that three-fifths of the
qualified voters of such county voting upon the question
at such election are in favor of such subscription, and
that said three-fifths includes a majority of the votes cast
by freeholders at such election, then they, the said com-
missioners, shall report in favor of subscription to the
county court of such county as provided in the statutes,
and the said subscription may be paid in bonds of such
counties in lieu of money; said bonds to run thirty-four
years and to bear interest at the rate of six per centum
per annum. The interest and principal of said bonds to
be payable at some national bank in the state of Virginia.

7. The directors of said company may open the books
for subscription of stock from time to time, as they may
deem expedient, until the stock is fully taken; and in-
stalments on original subscriptions of stock, as well as
those afterwards received, shall be paid at such times and
places and in such amounts as said directors may pre-
scribe.

8. The directors may receive in payment of any sub-
scription for stock in said company any property adapted
to the construction, operation, or maintenance of said
road, or which by gale or exchange they deem may be con-
verted to the use of said road, or may receive ali or any
part of subscription in service, labor, and materials; and
said board may contract for services, labor, supplies, or
materials for the construction of said road or its appen-
dages, or the equipping, maintenance, and operating of
the same, and for property which, or its proceeds, may be
beneficial and useful to said company in carrying out the
objects of said company, and pay therefor wholly or partly
in the capital stock of said company.

9. The directors shall have power to issue bonds in sums
of one hundred dollars and multiples thereof, and bear-
ing interest not exceeding the rate of six per centum per
annum; the principal and interest of which shall be pay-
able at such times and places as the board of directors
may determine, and may secure the same by one or more
mortgages or deeds of trust on the road, franchises, in-
comes, and the real, personal, and mixed property of the
company, or such part or parts thereof as may be desig-
nated in the mortgages or deeds of trust, and may sell
such bonds at such discount as may be thought best for
the benefit of the company, and said board of directors
may confer on any bondholder of said company the right
to convert the principal due or owing on such bond into
stock of said company at any time.

10. For the purpose of forming a continuous line of
railroad to be operated under one management, without

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change of cars or break of bulk, and for this purpose
only, the said company by a three-fourths’ vote of the
whole number of shares entitled to vote, may unite its
property with any other railroad which is not a competing
or parallel line. And for the purpose aforesaid, and that
purpose only, it shall be lawful for said company to con-
struct, purchase, own, lease, or operate any connecting
railroad within the limits of this state, or it may lease or
sell its property to any connecting line in the state: pro-
vided, the same is not a parallel or competing line, upon
such terms as may be agreed upon between the parties.

11. The said railroad company, by the acceptance of
this charter, hereby agrees to pay all taxes, dues, and de-
mands due to the state that may be hereafter assessed
against it in lawful money of the United States and not
In coupons.

12. The construction of said road shall be recommenced
within two years and completed within six years after the
passage of this act, and before the said work of construc-
tion shall commence at least twenty-five thousand dollars
shall have been subscribed to the stock, and twenty per
centum paid thereon.

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