Chap. 266.—An ACT To incorporate the Roanoke and Northern railroad com-
pany.

Approved February 15, 1894.

1. Be it enacted by the general assembly of Virginia, That W. E.
Deaton, L. H. Cocke, J. S. Simmons, R. H. Woodrum, M. C. Thomas,
and any person or persons that may associate with them, their suc-
cessors and assigns, be, and they are hereby, incorporated and made
a body politic and corporate under the name and style of the Roa-
noke and Northern railroad company, and as such are authorized and
empowered to locate, construct, equip and operate a standard or
narrow-gauge steam railroad, commencing at or within one mile of
the city of Roanoke, in Roanoke county, Virginia, and thence by
such route as may be deemed most desirable by the directors of said
company through the counties of Roanoke and Botetourt to a point
in the county of Botetourt or Rockbridge, or by such route as may
be deemed most desirable to some point on the West Virginia line,
and may extend its line from Roanoke to Salem, Virginia, and by
that name shall be known in law.

2. The said company shall have perpetual succesion, and have
power to sue and be sued, plead and be impleaded, defend and be
defended in all courts, whether in law or equity; and may make
and have a common seal, and alter or renew the same at pleasure,
and shall have, possess and enjoy all the rights and privileges of a
corporation or a bedy politic in law and necessary for the purposes
of this act.

3. The capital stock of said company shall not be less than twenty-
five thousand dollars, and from time to time may be increased to
any amount not exceeding five hundred thousand dollars, by issue
and sale of shares, the par value of which shall not be less than one
hundred dollars, under such regulations as the board of directors of
said company shall from time to time prescribe; and the directors
may receive cash, labor, material, real or personal property in pay-
ment of subscriptions to the capital stock, at such valuation as may
be agreed upon between the directors and subscribers, and may
make such subscriptions payable in such manner or amount and at
such times as may be agreed upon with the subscribers.

4. It shall be lawful for the said company to borrow money and
issue and sell its bonds from time to time for such sum and on such
terms as its board of directors may deem expedient and proper in
the prosecution of any of its works, and may secure the payment of
said bonds by mortgages or deeds of trust upon all or any portion
of its property, real, personal or mixed, its covenants, contracts and
privileges, and chartered rights and franchises, including its fran-
chises to be a corporation; and it may, as the business of the com-
pany may require, sell, lease, convey and encumber the same.

5. It shall be lawful for the said company to subscribe to and
hold shares in the capital stock of any mining, manufacturing or
other corporation, and any mining, manufacturing or other corpora-
tion may lease or operate the road and property of the said com-
pany, or guarantee or hold stocks or bonds of the said company.

6. The said company is authorized and empowered to locate and
construct branch lines of railroad from any point on its line to any
point not exceeding twenty miles in distance, and may use such
streets in the city of Roanoke as may be agreed upon by the city
council.

7. It shall be lawful for the said company to connect the said line,
or any part of it, with any other railroad constructed now or here-
after to be constructed in or to any of the said counties; and the
said company may connect or unite the said road with that of any
other company, or consolidate and merge its stock, property and
franchises with those of any other company operating or authorized
to operate a connecting line of railroad upon such terms as may be
agreed upon between the companies so uniting or connecting, merg-
ing or consolidating, and for this purpose power is hereby given to
it and such other company or companies to make and carry out such
contracts as may facilitate and consummate such connection, merger
or consolidation.

8. Said company may acquire by condemnation, according to the
iaws of Virginia, the lands required for the right of way of its rail-
road and the necessary stations and depots for its operation. The
said company may cross any railroad track at grade or by proper
bridges, tunnels and appliances to fully protect from any danger.

9. The said company shall be required to commence thé construc-
tion of said road within two years from the passage of this act, and
to complete the construction of its main line within five years
thereafter.

10. The persons first named in this act, or such of them as shall ac-
cept the provisions thereof, shall have the power and authority of a
president and board of directors for the purposes of organization and
for all other purposes. They shall continue in office until their suc-
cessors shall have been elected and qualified. Each stockholder in
the company shal! at all meetings or elections be entitled to one vote
for each share of stock registered in his name.

11. The board of directors shall be stockholders of said company.
They shall appoint one of their number president and may fill any
vacancy that may occur in said board, unless by removal, in which
case the same shall be filled by the stockholders in general meeting.
Whenever ten percentum of the capital stock shall have been sub-
scribed and the board of directors shall have elected a president,
said company shall be considered legally organized and may proceed
to the transaction of business.

12. The board of directors may establish offices and agencies at
such places as they deem proper, but the principal offices of the
company shall be located at some point within the limits of the state
of Virginia.

13. Whenever the corporation shall exercise any of the privileges
conferred by this act it shall be liable for the same taxes as may be
imposed by law upon other like corporations or persons exercising
like privileges, and all taxes due the commonwealth by the said com-
pany shall be paid in lawful money of the United States, and not in
coupons. .

14. This act shall be in force from its passage, but the general as-
sembly of the state of Virginia reserves to itself the right to modify,
alteror repeal this act at any time hereafter.