CHAP. 605.—An ACT to incorporate the Blacksburg railroad
company.

- Approved March 5, 1890.

1. Be it enacted by the general assembly of Virginia,
That W. E. Hubbert, W. B. Conway, W. H. Graham,
George J. Junkin, Alexander Black, W. B. Preston, N. R.
Stanyer, or such of them as may accept the provisions of
this act, and such persons and corporations as may become
associated with them, shall be hereby constituted a body
politic and corporate under the name and style of the
Blacksburg railroad company ; and in that name shall have
all the rights, privileges, and franchises necessary to locate,
construct, equip and maintain a railroad from Christians-
burg, or some point in Montgomery county, on the line of
the Norfolk and Western railway, to the town of Blacks-
burg, in Montgomery county, and continue thence to such
part of said county as the directors of said company may
deem advisable, and may extend the same to connect with
the New River division of said Norfolk and Western rail-
road at some point in the county of Pulaski.

2. That the capital stock of said company shall be fifty
thousand dollars, to be divided into shares of one hundred
dollars each; and when ten thousand dollars thereof are
subscribed the subscribers may organize the company, and
tne stock may be increased from time to time by the board
>f directors to such an amount as may be deemed proper,
mot to exceed one million dollars, each share of stock to
pe entitled in all meetings of the stockholders to one vote.

3. The board of directors shall, for any legitimate pur-
»oses of said company, have the power to issue bonds of
;aaid company in such sums, not less than one hundred
dollars each, bearing interest not exceeding the rates
allowed by law, payable at such times and places and in
such manner as the said board of directors may determine.
and may secure such bonds by one or more deeds of trust
or mortgages or other liens upon the road, franchise-.
income, and real and personal property of the company, or
any part thereof.

4. It shall be lawful for said company to receive, accept
and acquire in subscriptions to its capital stock, or by
donations, contributions, or otherwise, lands, minerals,
mines, property, materials, and labor. It may also re-
ceive subscriptions to its capital stock from associationa,
companies, and corporations of this or any other state.

5. That no payments on account of subscriptions to the
stock shall be required until not less than ten thousand
dollars have been subscribed by solvent persons or cor-
porations, and the construction of said road shall not be
commenced until the minimum of the capital stock afore-
said shall have been subscribed and ten per centum thereof
paid in, and said company shall commence the construc-
tion of their line within two years from the first day of
March, eighteen hundred and ninety, and complete the
same within five years thereafter.

6. All taxes and other demands against said company
due, or to become due, to the state shall be paid in current
money of the United States and not in coupons.

7. This act shall be in force from its passage, but the
general assembly reserves the right to amend, alter, or
repeal the same at any time.