CHAP. 499.—An ACT to incorporate the Winchester, Fredericks-
burg and Norfolk railroad.

Approved February 29, 1892,

1. Be it enacted by the general assembly of Virginia,
That Frank W. Smith, E. Louis Kuhens, James M. Stew-
art, Thomas P. Wallace, William B. Taliaferro, Walter J.
Anderson, J. N. Stubbs, E. Holmes Boyd, George H. Chew-
ning, J. P. Jeffries, W. R. Aylett, James E. Heath, and
such other persons as may be associated with them, their
successors and assigns, be, and they are hereby, constitu-
ted a body politic and corporate, under the name and
style of the Winchester, Fredericksburg and Norfolk rail-
road company, for the purpose of constructing, equipping,
maintaining and operating a railroad from the city of
Winchester, in the state of Virginia, to the city of Frede-
ricksburg, in the said state of Virginia, thence through
the counties north and east of the Mattaponi river to
Gloucester Point, in the county of Gloucester, or West
Point, in the county of King William, or to some point on
the Potomac river as may be adopted by said company,
with power to extend such line by means of steam vessels
or other water transportation to the city of Norfolk, Vir-
ginia.

2. The capital stock of said company shall not be less
than one hundred thousand dollars, divided into shares of
one hundred dollars each, and the board of directors may
from time to time, at their discretion, increase said capi-
tal stock to an amount not to exceed two million of dol-
lars; and before this company shall be deemed to be fully
organized at least ten thousand dollars shall be subscribed
and twenty-five per centum thereof paid in. Each share
thereof will entitle the holder to one vote in all meetings
of the stockholders, and the company may receive real and
personal property suitable for its business in payment of
subscriptions to the capital stock at such valuations as
may be agreed upon between the board of directors and
the suubscribers thereto.

3. After the passage of this act the corporation hereto-
fore mentioned, or any five of them, may, after two weeks’
notice in the newspapers of Winchester and Fredericks-
burg, in one newspaper in each city, meet together and
organize the said company by electing a board of directors
of not less than five nor more than thirteen, who shall hold
office for one year, and shall choose from their own num-
ber one who shal! be president of the board and company.
The board of directors may fill any vacancy in their own
body or the office of president, whether such vacancy occur
by death, resignation, or otherwise, and shall elect such
other officers as may be necessary to carry on the business
of the company.

4. As soon after the passage of this act as they may
choose, the board of directors may meet together and take
such steps as they may deem proper to secure subscriptions
to the capital stock of the company, and as soon as the
minimum amount of said capital stock shall have been
subscribed and two per centum thereof paid in, the board
of directors may proceed to organize the said company,
adopt by-laws for the government of the company, and
take such further action as the interest of the company
may require; and thereupon the said company shall be
deemed to be duly organized, and shall have all the gen-
eral powers and be subject to such restrictions as are con-
ferred and imposed upon corporations and chartered com-
panies by the laws of Virginia.

5. The by-laws of said company shall prescribe the
times and places of the meetings of the stockholders, and
all the time and method of giving notification of such
meetings, but the same shall be changed at the discretion
of the board of directors.

6. The said company shall have power to borrow money
for its purposes and to secure the same by mortgage or
mortgages upon its works, franchises, and income.

7. That the said corporation, by its said name aforesaid,
may sue and be sued; plead and be impleaded unto in any
court of law and equity in this state or elsewhere when
their rights may come in question; may have and use a
common seal, and the same use, renew, and destroy at
pleasure. )

8. This act shall be subject to amendment or repeal at
any time by the general assembly, and all taxes due and
demands due, or to become due to the state of Virginia
shall be paid in lawful money of the United States, and
not in coupons.

9. Work on this road shal! begin within two years, and
the road shall be completed in five years from the date of
this act.

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