CHAP. 12.—An ACT to incorporate the Rivermont ainest railway
company.

Approved December 17, 1891.

1. Be it enacted by the general assembly of Virginia,
That Chas. M. Blackford, Peter J. Otey, I. H. Adams,
Watkins L. Moorman, Ed. S. Hutter, W. H. Dulaney,and
such other persons as may be hereafter associated with
them, and their successors and assigns be, and are hereby,
incorporated and made a body politic and corporate, under
-the name and style of “the Rivermont street railway com-
pany,” and by that name shall be known in law, and shall
have perpetual succession, and have power to sue and be
sued, plead and be impleaded in the courts of the land,
and may make and have a common seal, and alter and
renew the same at pleasure; may make ‘by-laws for its
control and management, and shall have, enjoy and ex-
ercise all the rights, powers, privileges and franchises
pertaining to corporate bodies of this general character,
and necessary to the due development of the purposes of
this charter, and to the maintenance of the corporation
hereby created.

2. The capital stock of said company shall not be less
than thirty thousand dollars ($30,000), and may be in-
creased from time to time, as the stockholders may direct,
to any sum not to exceed two hundred thousand dollars
($200,000).

The capital stock shall be divided into shares, the par
value of which shall be fifty dollars, and the stock may be

Google
issued as the stockholders may direct, as preferred and
common stock, in such proportions and on such conditions
as they may deem proper.

3. The company in payment for subscription to its cap-
ital stock may receive money, land, materials, labor, or.
any other article or value, at such price as may be fixed
by the board of directors.

4. Any other joint stock company may subscribe to the
capital stock of this company, and may so subscribe to,
hold, vote and control any proportion of its said capital,
however great, which may be agreed upon between the
board of directors of this company and the company
making such subscription. This power to subscribe to the
capital stock of this company is especially granted to the
Rivermont company, and if may pay and discharge any
subscription it may thus make, by transferring to this
company its street railway, in the city of Lynchburg, and
county of Campbell, its electric plant, poles, wires, cars,
machinery, houses and all of its plant connected with
said railway, and all rights, privileges and franchises there-
to pertaining. The price and value of such articles so to
be used in payment for such subscription shall be fixed
and agreed upon between the board of directors of said
Rivermont company and the board of directors of this
company, and the fact that the two boards may be com-
posed, in whole, or in part, of the same individuals, shall
in no wise affect the legality of such subscription, or of
any action fixing the value of the property used in paying
the same.

5. The management and control of the company shall
be vested in a board of directors, all of whom shall be
stockholders. The board of directors, except the first
board, shall be elected by the stockholders annually at
their annual meeting. The number of the board, the
times of the annual meetings, and all rules, by-laws and
regulations for the general management of the company
shall be fixed and determined by the stockholders.

6. The corporators named in the first section of this act
shall receive subscriptions to the capital stock of this
company, and they shall, as soon after the passsage of this
act as practicable, open books of subscription to said capi-
tal stock, in one or more places in the city of Lynchburg,
giving due notice thereof by advertisment for one week in
one or more newspapers of the said city. When as much
as the minimum amount of said capital has been sub-
scribed, said corporators shall call a meeting of said sub-
scribers, to be held in said city, giving ten days’ notice of
the time and place of such meeting, by advertising the
same for ten days immediately preceding the time fixed
therefor in one or more of the daily newspapers of the said
city. At the meeting so to be held, the first board of di-
rectors shall be elected, and such other business transact
ed as the stockholders may determine.

The board so elected shall hold office until the first an
nual meeting, and until their successors are elected 1)
their stead.

7. The board of directors at their first meeting after th
election, or as soon thereafter as practicable, shall selec
from their number a president and vice-president of saic
company, who shal! hold said offices until their successors
are elected, without vacating their seats or powers, a:
members of said board. And thereafter each board o:
directors shall annually make similar elections from
among its members for the said offices of president and
vice-president, at their first meeting after they are elected.
or so soon thereafter as practicable.

8. The board of directors shall appoint all officers and
servants of said company, assign their duties, fix their
compensation, and the penalties of their official bonds,
when such bonds are required. Said board shal! also, un-
der the control and direction of the stockholders, have and
exercise all the duties and powers usual to such bodies as
are necessary and requisite to the management and con-
trol of such a company, and as may be granted and pre-
scribed by the by-laws of this company.

9. The said company shall, in addition to all such gen-
eral powers and attributes as are inherent to corporations
of this nature, especially have power—

(1) To change its corporate name whenever it may so
desire, but such change of name shal! in nowise affect the
relation of the company to its property or its debts and
contracts.

(2) To construct, own, purchase, hold, and operate a
street railway in the counties of Campbell and Bedford
and in the city of Lynchburg. The cars upon said railway
may be propelled by horses, steam, electricity, or any other
motive power. The said railway may be used for the trans-
portation of passengers or freight, and said company may
charge and collect tolls and fares for such transportation
as may be done by any other like common carrier. Its
railway, poles, wires, and other partsof its plant,necessary
to the running of its cars, may be laid and placed in the
streets and roads of the city of Lynchburg,and the streets
and roads of the counties of Campbell] and Bedford, and its
cars or trucks may be run over said railway when so laid:
provided the consent of the council of the city of Lynch-
burg be first obtained to such user of its streets and
roads, and of the county courts of the said counties of
Campbell and Bedford, respectively, for such user of said
roads and streets in said counties; but when such consent
has already been granted by said council and said courts
to any individual or company from which this company
may derive any railway or any part of the plant con-
nected therewith, no further grant of such power shall
be requisite, and the transfer to this company of any such
railway or plant shall carry with it all such rights, fran-
chises or privileges derived from said counties, city, or
from private persons. When the company shall receive,
in payment of subscription to its capital stock from the
Rivermont company, or from any other person or corpora-
tion, any roadway, poles, wires, and other part of an elec-
tric or other plant, located on the lands of said subscrib-
ing company or other persons, the company shall take the
same and operate them as a street-car line without any
such permit from said council or county courts, even
though the land over which said railway runs, and upon
which said poles, wires, and other plant is placed, has been
dedicated to the use of the public as a highway: provided
said dedication was made subject to said user for the pur-
poses of a street railway.

(3) To purchase, hold, use, sell or otherwise dispose of
real estate, not to exceed at any one time one thousand
acres 1) amount, in the counties of Campbell and Bedford
and the city of Lynchburg. It may also purchase, hold,
use, enjoy, sell, or otherwise dispose of any and all kinds
and classes of personal property requisite and necessary
for its use and the development of its purposes as a street
railway company, and for the powers and privileges herein
granted.

(4) To condemn lands for the purpose of laying its
railway track and establishing depots, and may, when
necessary, condemn the use of land for erecting thereon
poles and wires for the purpose of conducting electricity
from the mill where such electricity is manufactured to
the line of its railway. But in making all such con-
demnation, it shall be controlled by the laws of the state
in such case made and provided, and shall have no other
powers than those granted by such laws.

(5) To make and issue coupon bonds, notes, accept-
ances, or other evidences of debt, and may borrow money
and make and issue bonds or notes promising to pay the
same, and may convey its real and personal property,
rights and franchises by a deed of trust or mortgage to
secure the payment of the same, and of the instalments
of interest thereon.

(6) To cross, unite or connect with any other line of
railway constructed; or to be constructed, and to consolli-
date with any other joint stock company created for the
purpose of constructing, owning and operating a railway
upon such terms as may be agreed upon by the said par-
ties, and it may subscribe to the capital stock of any other
joint stock company, and hold, vote and otherwise exer-
cise all the rights of a stockholder in said company. It
may also lease out its own line, property, works, and fran-
chises, or lease the line, property, works and franchises of
any other railway company.

(7) To construct an electric light plant, and to manu-
facture electricity, and to sell, lease or otherwise dispose
of and distribute the electricity so manufactured for the
purposes of lighting, manufacturing, heating or motive
power; and it may, for the purpose of conveying said elec-
tricity, erect poles and run wires in the streets and roads
of the city of Lynchburg and the counties of Campbell
and Bedford: provided the same be done with the consent
of the council of the city or the county court of the
county in which said street or road may be located.

10. The said company shal] pay all taxes and other
dues to the state of Virginia in current money of the Uni-
ted States, and not in coupons.

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