CHAP. 588.—An ACT to incorporate the Portsmouth, Smithfield
and western railway company.

Approved March 2, 1892.

1. Be it enacted by the general assembly of Virginia,
That James F. Maupin, William G. Maupin, junior, Wil-
liam H. Stewart, and T. J. Barlow, of the city of Ports-
mouth, state of Virginia; M. W. Mason, of the city of Nor-
folk, state of Virginia; P. D. Gwaltney and R. 8. Thomas,
of Isle of Wight county, state of Virginia; Doctor G. W.
Butts and R. B. Hodsden, of Nansemond county, state of
Virginia; C. W. Warren and A. S. Edwards, of Surry
county, state of Virginia; J. O. Magruder, of Albemarle
county, state of Virginia, their associates, successors, and
assigns be, and they are hereby, declared a body politicand
corporate by the name of the Portsmouth, Smithfield and
western railway company, for the purpose of locating, con-
structing, equipping, maintaining, and operating a railway
from some suitable point on the western side of the Eliza-
beth river, in or near the city of Portsmouth, Virginia,
through the counties of Norfolk, Nansemond, Isle of Wight,
Prince George, Surry, Charles City and Henrico, to some
suitable point in or near the city of Richmond, Virginia.

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 on its route:
provided a draw sufficient not to impede navigation is
placed in its bridges over said streams, and,shall have
further right to construct, equip, and maintain branch
tracks, not to exceed twenty-five miles each in length,
which shall] have al] the rights of way and powers, and
shal] be subject to the same restriction as the main line;
and said company may connect or unite its said road with
that of any other company or companies, or consolidate
and merge its stock, property, and franchises with those
of any other companies operating or authorized to operate
a connecting line of railroad, upon such terms and under
such name as may be agreed upon between the companies
so uniting or connecting, merging or consolidating; and
for that purpose power is hereby given to it and to such
other company or companies to make and carry out such
contracts as will facilitate and consummate such connec-
tions, merger, or consolidations.

3. The said company may acquire title in the mode pre-
scribed by law to a continuous line of land one hundred
feet in width, and such additional lands as may be neces-
sary for the use of said roads and tracks, and for the yards,
buildings and works of said company. And 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 property, labor, work, material, bonds and other
means available for that purpose, and to receive subscrip-
tions from individuals, other companies, associations or
corporations; and the said company may sell, lease, or
otherwise dispose of any lands or other properties acquired
under this section: provided this section shal] not be con-
strued as to authorize said company to acquire by purchase
in any county or corporation more land than is necessary
for the operating of said company as a common carrier.

4. Said company shall have the right to cross at grade,
over or under, intersect, join or unite its railway 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 conveniences in furtherance of
the objects of its construction.

5. It shall be lawful for any incorporated company to
aid in the construction of said railway, and for that pur-
pose may acquire the bonds and stock of saitl company,
and the said company may run, use or operate, by lease’or
otherwise, and may connect or consolidate with any other
railway or transportation company upon such terms as
may be agreed upon.

6. Said company shall have perpetual succession and a
common seal, which it may renew or alter at pleasure, and
may sue and be sued, plead and be impleaded, contract
and be contracted with, and make ordinances, by-laws and
regulations not inconsistent with this act or the laws of
this state for the government of its officers and agents and
the proper conduct of its affairs.

7. The capital stock of said company shall not be less
than ten thousand dollars nor more than one million five
hundred thousand dollars, divided into shares of one hun-
dred dollars each. In all meetings of the stockholders
each share shall entitle its holder to one vote. Any city,
town, county, or corporation, except the city of Norfolk,
may subscribe to the capital stock of said company in the
manner and under the restrictions prescribed by the stat-
utes of Virginia.

8. It shall be lawful for said company to borrow money
to such an amount as its board of directors may deem
necessary and proper, and to issue for any loan debenture
bonds of the said company, bearing interest at such rates
per annum as the said board of directors may determine;
and to secure the payment of such loan or loans said com-
pany may execute one or more mortgages or deeds of trust
upon the whole or any part of its property, real, personal,
or mixed, its charter rights, franchises, and income.

9. The corporators herein mentioned shall have the
power and authority of a president and board of directors
‘or the purpose of organization of said company, and for
sl] other purposes, and until a president and board of di-
rectors shall be selected at the stockholders’ meeting; and
said meeting shall be held as soon as the minimum capital
stock shall have been subscribed, and after such notice as
the said corporators may deem necessary and proper.

10. The said company shall commence work under this
act within two years from the first day of July, eighteen
hundred and ninety-two, and complete the same within
five years from that date; otherwise this act shall be null
and void.

11. All taxes shall be paid in lawful money of the
United States. :

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