CHAP. 103.—An ACT to incorporate the Norfolk and Atlantic
terminal company.

Approved January 28, 1892.

1. Beit enacted by the general assembly of Virginia,
That Joseph T. Allyn, D. Lowenberg, Barton Myers, R. H.
Baker, junior, F. M. Killam, and A. W. Cornick, or any
five of them, their associates and successors, be, and they
are hereby, constituted and made a body politic and cor-
porate, under the name and style of the Norfolk and At-
lantic terminal company, and by that name may sue and
be sued, and shall have all the rights and powers, and be
subject to all the restrictions imposed upon joint stock
companies and corporations generally by the statutes of
this state, except as hereinafter provided.

2. The capital stock of said company shall not be less
than twenty-five thousand dollars, nor more than five
million dollars, divided into shares of the par value of
one hundred dollars each, and the directors may receive
stock or bonds of other incorporated companies, in pay-
ment of subscription to the capital stock of this company,
at such valuation as may be agreed upon.

3. The said company may acquire and hold real estate
in the county of Norfolk, city of Norfolk, or both, not to
exceed in the aggregate the amount of three thousand
acres at any one time, and may erect thereon, or any part
thereof, roads, streets, wharves, piers, docks, basins, dry-
docks, warehouses, elevators, sheds, or any other buildings
and improvements, suitable or convenient for its business,
or for the accommodation of vessels, boats, barges, or other
craft, or for the convenient loading, unloading, shipping,
recelving, and storing of all kinds of merchandise, freight,
or other personal property, for safe keeping, and may con-
duct the business usually of warehousemen and wharfin-
gers, and may charge and collect compensation for the
storage, dockage, or wharfage, or for all labor incident
thereto, whilst in its charge, and for all such charges and
expenses the said company shall have a preferred lien on
said merchandise or personal property, which shall be
paid before the said company shall be required to deliver
the same.

4. For convenience of access to said property and its
improvements, the said company shall have authority to
construct suitable turnpikes or roads from Sewell’s Point,
in Norfolk county, to the city of Norfolk; and for that
purpose, if necessary, it shall have the right to condemn,
by legal proceedings, strips of land over which it is pro-
posed to build such roads, not exceeding one hundred
feet each, in width; and for that purpose, it shall have
the right to construct bridges over Tanner’s creek at such
points as may be necessary to connect the ends of said
roads herein provided for: provided they are constructed
with draws therein so as to permit the passage through
said creek of such vessels as ply therein. And in order
to keep in repair the said turnpikes and draw bridges, the
said company shall have the right to charge and collect
moderate tolls, such as is charged by other toll-bridge and
turnpike companies in the neighborhood.

5. The said company shall have the right to construct,
equip, and operate one or more railway lines, to be pro-
pelled by horse, steam or electric power over said turn-
pikes or other routes from Sewell’s Point, in Norfolk
county, over said Tanner’s creek to the city of Norfolk,
and to connect by branch roads or sidings with other rail-
ways or street-car lines running into the city of Norfolk,
the said company to use none of the streets of said city
without the consent of the city councils and under their
regulations, and to acquire, by purchase or condemnation
proceedings, such lands as may be necessary to said track
roads, or for the buildings and works of said company.

6. The said company shall have the right to lease, sell,
mortgage, or otherwise dispose of any real or personal
property owned or acquired by it to as full an extent as
if it were a natural person, and to issue bonds, securing
them by mortgage or deed of trust on its property or fran-
chise.

7. The said company shall have the right to build, equip,
and operate upon its said lands, one or more hotels, and
any other buildings necessary or convenient for carrying
on its business or improving its property, and to sell,
lease, or mortgage the same if it should become necessary
or expedient to do so.

8. The said company shall have the right to purchase,
‘charter, or to build, equip, and operate a steamer or line
of steamers for the purpose of carrying passengers or
freight to and from Newport News and Old Point Com-
fort to Sewell’s Point, or from either one of said places,
and to charge a reasonable ferriage, fare or freight there-
for.

9. The officers of the said company shall consist of
president, vice-president, secretary, treasurer, five directors,
and such other subordinate officers or employees as may
be prescribed by its by-laws.

10. The terms of these officers, and mode of election of
the same shall be as prescribed by the general law of the
state. The corporators above named shall have the power
and authority of a president, vice-president, and board of
directors, for the purposes of organization of said company,
and for all other purposes until a president and board of
directors shall be elected at a stockholder’s meeting, and
such meeting shall be held after such notice as the said
incorporators may deem proper. The said incorporators
may elect one of their number chairman, who shall have
all the power and authority of president of said company,
and in all matters a majority of said incorporators shall
control.

11. The principal office of said company shall be in the
city of Norfolk. The annual meeting of the stockholders
of said company shal! be held at the principal office of
the said company on the first Wednesday in March of each
year, unless the stockholders in general meeting shall
change the same.

12. The company may prescribe by its by-laws the du-
ties of the different officers.

13. As soon as the minimum amount of capital stock
allowed shall have been subscribed for and ten per centum
thereof paid in cash, the company may organize and com-
mence business.

14. The said company shall have as full power over its
property and the mode and terms of disposition thereof
as a natural person would have, except where restricted by
this act or the laws of the state. |

15. This charter is granted upon the express condition
that the said corporation will pay all taxes, dues, and de-
mands due the stafe at any time hereafter in money, and
will not tender or pay in coupons satisfaction thereof.
And the legislature expressly reserves the right to alter,
amend, or repeal the same at any time hereafter.

16. This act shall be in force from its passage