CHAP. 625.—An ACT to incorporate the Portsmouth and South
Mills Railway company.

Approved March 6, 1890.

1. Be it enacted by the general assembly of Virginia,
That John T. West, F. M. Mullins, and William A. West,
of Norfolk county; T. J. Barlow, John H. Hume, A. H.
Lindsay, and William H. Stewart, of Portsmouth city,
their associates, successors, and assigns, be, and they are
hereby, declared a body politic and corporate by the name
and style of the Portsmouth and South Mills railway
company, for the purpose of locating, constructing, equip-
iug, maintaining and operating a railway from some suit-
able point on the Elizabeth river at or near Portsmouth,
in the county of Norfolk, state of Virginia, to some suit-
able point at or near South Mills, in North Carolina.

2. Said company may build its road by such route as it
may deem most advantageous and expedient, and shall
have the right to cross any navigable stream in its route:
provided, a draw sufficient not to impede navigation is
pee in its bridges over such streams, and shall have the
urther right to build branch tracks of twenty miles in
length through such routes as said company may deem
necessary for the successful operation of its road.

3. Said company shall have (subject to the provisions
of section twenty-five, chapter fifty-six, code of Virginia
of eighteen hundred and seventy-three), the right to cross
at grade, over or under, intersect, join, or unite its rail-
way with any other railway now built or constructed, or
hereafter to be built or constructed at any point on its
route upon the grounds of such railway company with
necessary turnouts, sidings, switches, and other conven-
iences in furtherance of the object of its construction, the
terms of said crossing to be agreed upon by this com-
pany and the railway company to be crossed.

4. The said Portsmouth and South Mills railway com-
pany shall have perpetual succession and a common seal,
which it may renew or alter at pleasure, and it shall be
entitled to all the rights and privileges conferred, and
subject to all the restrictions imposed by the laws of Vir-
yinia, as far as the same are applicable and not inconsist-
ent with this act.

5. It shall be lawful for said company to acquire in
subscription to the capital stock of said company, or by
donation, money, land, or other damages, labor, work,
material, bonds and other means available for that pur-
pose, and to receive subscriptions from individuals, other
-ompanies, associations or corporations: provided, that
-orporations chartered under the laws of Virginia and
loing business within the limits of this commonwealth,
shall not be allowed to make such subscriptions; and the
aid company may sell, lease or otherwise dispose of any
ands or properties acquired under this section: provided,
his section shall not be so construed as to authorize said
ompany to acquire, by purchase or otherwise, in any
ounty or corporation, more land than is necessary for the
peration of said company as a common carrier.

6. It shall be lawful for any incorporated company to
id in the construction of said railway, and for that pur-
ose may acquire the bonds of said company, and it may
wn, use or operate by lease or otherwise, any railway or
ransportation line upon such terms as may be agreed
pon.
°7.. The capital stock of said company shall not be less
nam one hundred thousand dollars, nor more than one
r2illion dollars, divided into shares of one hundred dol-
urs each. In all meetings of the stockholders, each share
nall be entitled to one vote. Said company may with
1e consent of a majority of the stockholders increase its

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eapital stock, from time to time, to an amount necessary
for constructing and operating such railway ; such increase
to be made at a regular or called meeting for the purpose
and upon such notice as may be necessary and proper.

8. Said company shall have power to borrow money to
such an amount as it may deem properand necessary, and
to issue for any loan debentures or bonds of the company
bearing interest at such rates per annum as the company
may determine. Said debentures may be expressed in
dollars or pounds sterling; and to secure the payment of
such loan or loans said company may execute one or more
mortgages or deeds of trust on the whole or any part of its
property, real, personal and mixed, its charter rights.
franchise and income.

9. The corporators herein mentioned shall have the
power and authority of a president and board of directors
for the purpose of organization of said company and for
all other purposes, until a president and board of directors
shall be selected at a stockholders’ meeting; and such
meeting shall be held after such notice as the said incor-
porators may deem proper. The said incorporators may
elect one of their number chairman, who shall have all the
powers and authority of president of said company: and
in all matters a majority of said incorporators shall
control.

10. The said Portsmouth and South Mills railway com-
pany shall commence work under this act within two
years, and complete the same within five years from the
passage of this act; otherwise this act shall be null and
void.

11. This charter shall, at all times hereafter, be subject
to amendment or repeal, at the pleasure of the general
assembly; and it is agreed that said corporation takes and
accepts this charter of incorporation upon the express
understanding and condition that the said corporation
will pay all taxes, dues, and demands due the state at any
time hereafter in lawful money of the United States, and
will not tender or pay coupons therefor.

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