Chap. 631.—An ACT to incorporate the Chesterfield transit company.

Approved March 5, 1894.

1. Be it enacted by the general assembly of Virginia, That W. C.
Andrews, G. C. St. John, W. F. Weiss and F. W. Hyslop, of the city
of New York, and B. N. Nash, H. C. Parsons, Ware B. Gay, A. C.
Harmon and V. R. Williams, of Virginia, be, and hereby are, consti-
tuted a body politic and corporate under the name and style of the
Chesterfield transit company, and as such may sue and be sued,
plead and be impleaded, and have perpetual succession and a com-
mon seal.

2. The principal business of the said corporation shall be to build
and operate pipe lines for the transportation of oil, coal and other
products, and to operate the same as common carriers, and for the pur-
pose of location and use and enjoyment thereof it shall have all the
rights and be subject to all the limitations provided and prescribed
under the general law for works of internal improvement. In order
to facilitate its enterprise, it may construct wharves, docks, ware-
houses and elevators; it may build ships, barges and tow-boats, and
engage in a general forwarding, storage and towage business; it may
mine coal and other minerals and establish and operate stamp mills
and refining and reduction works; it may build and operate rail-
roads to aud from any of its lands, mines or works, but no such
railroads shall be more than twenty miles in length.

&o. The location of the said pipe lines shall be from the city of
Richmond, or such other point or points upon the James river as may
be selected, through the county of Chesterfield, with the right to ex-
tend the same to such points as may be selected on the West Vir-
ginia state line, or to any intermediate point, and it may build
branch lines to any of its lands or works: provided that work under
this charter shall begin within two years and the line shall be open
to transportation within two years thereafter.

4. It shall be lawful for the city of Manchester, or for any county
or city through which lines may run, to aid the construction of
the same by granting the right to lay the same along any public
road or alley or through any public grounds, but upon such condi-
tions as shall protect the said roads or lands and the abutting prop-
erty from injury.

5. The principal office of the said company shall be in the city of
Richmond, and it may appoint other offices at the city of Washing-
ton, or such other place as the stockholders may direct.

6. The capital stock of the said corporation shall be not less than
one hundred thousand dollars nor more than five million dollars;
and to secure the same, books of subscription may be opened by the
Incorporators, who are hereby appointed commissioners for that pur-
pose, or any three of them, and when the minimum of the capital
stock shall be subscribed, the subscribers may proceed to organize
by the election of a board of not less than five nor more than eleven
directors, who, from their own number, shall elect a president and
vice- president, and may appoint such other officers as shall be
deemed necessary for the management of its affairs; and the com-
pany, 80 organized, shall thereupon acquire all the powers and privi-
leges conferred upon the persons named as incorporators in the first
section of this act.

7. The said company may hold real estate not exceeding five thou-
gand acres in any one tract nor more than ten thousand acres in the
aggregate. It may borrow money to aid in the construction of its
works or the prosecution of its business, and to secure payment of
the same, may execute mortgages or deeds of trust upon its proper-
Lies and franchises; but in any such mortgages or deeds of trust at
least one trustee shall reside in the state of Virginia.

8. The said corporation shall pay all taxes in lawful money of the
United States.

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