CHAP. 6.—An ACT to incorporate the Petersburg street railway
company.

Approved December 15, 1891.

Whereas George Beadle, acting under an authority duly
granted to him by the common council of the city of
Petersburg, has laid down and is now operating in said
city a street railway; and whereas said Beadle wishes to
have a charter incorporating himself and other persons
into a company to which all the property, rights and fran-
chises now owned by said Beadle, shall be transferred,
and which shall hereafter maintain and operate said rail-
way ; therefore,

1. Be it enacted by the general assembly of Virginia,
That said George Beadle, Frank G. Beadle, Augustus
Wright, Walter S. Phillips and Alexander Hamilton, and
such other persons as may hereafter be associated with
them, and their successors be, and they are hereby, consti-
tuted a body corporate, under the name and style of
Petersburg street railway company.

2. The said street railway corporation shall have author-
ity to purchase from said George Beadle, all of the property,
real, personal and mixed, used by him in operating said
street railway, and all rights, privileges and franchises
granted to and enjoyed by him under the ordinance
adopted by said common council, on the third day of
November, in the year eighteen hundred and eighty-two
entitled an ordinance authorizing the construction and
operation of a street railway, and under all ordinances
amendatory thereof, subsequently adopted by said council ;
and after acquiring said property, rights, privileges and
franchises, said corporation shall be entitled to hold and
enjoy the same in all respects as the same shall be held
and enjoyed by said Beadle at the date of the transfer,
and shall further have authority to construct and operate
a street railway in any of the streets and highways of
said city, subject to the provisions of said ordinances;
but before constructing any track upon any street or high-
way of said city, the consent of said common council
must be first obtained.

3. Said corporation shall have authority to extend its
railway beyond the limits of said city into all or any one
or more of the three counties adjacent to said city; but
before constructing or operating said railway upon any
highway of any of said counties leading into said city,
the consent of the county court of such county must be
obtained.

4. Whatever property, rights, privileges and franchises
said corporation may acquire under the transfer to be
made by said George Beadle, or may hereafter acquire, it
may lease or sell, and the lessee or vendee may hold and
enjoy the same just as said corporation shall hold and
enjoy the same at the time of such lease or sale.

5. If the said corporation shall deem it necessary at
any time, it may borrow money at a rate of interest not
exceeding six per centum per annum, payable semi-an-
nually, and may give the notes or bonds of the corporation
therefor. Said bonds may be issued with or without cou-
pons for the instalment of interest payable thereon. The
corporations may execute deeds of trust, or mortgages
conveying all or any part or parts of its property, privi-
leges, rights, and franchises, in trust to secure whatever
notes or bonds it may so issue.

6. The capital stock of said corporation shall not be
less than fifty thousand dollars, nor more than three hun-
dred thousand dollars, and shall be divided into shares of
one hundred dollars each. Subscriptions to said capital:
stock may be made and received in property, real, per-'
sonal and mixed, at such valuations as may be agreed
upon between the board of directors and the subscribers.

7. Said George Beadle shall be the president, and said:
George Beadle, Frank G. Beadle, Augustus Wright, Walter
S. Phillips, and Alexander Hamilton shall be the direct-
ors of said corporation, and shall each continue in office
for the first year after organization, and until his suc-
cessor shall be duly elected, and shall enter upon the
duties of his office. The president of said corporation
shall be ex-officio a director thereof. Any vacancy which
shall occur in the office of president or director of said
corporation, shall be filled by the remaining members of
the board, and the person so elected shall hold office until
his place shall be filled by the stockholders in general
meeting assembled.

8. It is hereby expressly provided, and this charter is
granted, upon the condition that the corporation hereby
chartered shall pay in current money of the United States
all its taxes and other demands against it due to the state
of Virginia, and shall not pay the same in coupons or in
anything else except current money of the United States
of America.

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