CHAP. 55.—An ACT to amend and re-enact sections 1 to 14, both inclusive, of a
act entitled an act to incorporate the Southeastern and Atlantic railroad com
pany, approved March 4, 1896, and to change the name of said company.

Approved January 12, 1898.

1. Be it enacted by the general assembly of Virginia, That the nam
of the company incorporated by an act entitled an act to incorporate th
Southeastern and Atlantic railroad company, approved March fourth
eighteen hundred and ninety-six, be, and the same is hereby, change
so that the name of the said company shall be the Norfolk and Port:
mouth belt line railroad company.

2. That sections one, two, three, four, five, six, seven, eight, nin
ten, eleven, twelve, thirteen, and fourteen of the said act entitled an a
to incorporate the Southeastern and Atlantic railroad company, approve
March fourth, eighteen hundred and ninety-six, be, and the same ai
hereby, amended and re-enacted so as to read as follows:

§ 1. Be it enacted by the general assembly of Virginia, That Alva
H. Martin, Patrick Matthews, Franklin D. Gill, Benjamin D. White, /
T. Herbert, and T. J. Wool, and their associates, successors, and a
signs, be, and they are hereby, constituted and declared a body polit
and corporate by the name and style of the Norfolk and Portsmouth be
line railroad company.

§ 2. The said company shall have perpetual succession, and ha

wer to sue and be sued, plead and be impleaded, defend and be d

ended, in all the courts, whether in law or equity, and may make ar

have a common seal, which it may alter and renew at pleasure; and sha
have, possess, and enjoy all the rights, powers, and privileges conferre¢
and be subject to all the general restrictions imposed by the laws of th
state upon such bodies politic and corporate.

§ 3. The capital stock of the said company shall be not less the
twenty thousand dollars, and may from time to time be increased by tl
stockholders of said company, in meeting assembled, to any amount n
exceeding five hundred thousand dollars, and shall be divided into shar
of one hundred dollars each; and the board of directors may dispose |
the same at such prices and upon such terms and under such regulatio1
as they may determine; and the directors may receive cash, labor, mat
rial, bonds, stocks, real or personal property, in payment of subscri)
tions to the capital stock at such valuation as may be agreed upon b
tween the directors and the subscribers, and may make such subscri
tions payable in such manner or amounts and at such times as may |
agreed upon; the incorporators above named, or a majority of then
may receive subscriptions to the capital stock in such manner as the
may deem hest, and no advertisement of the time and place at whic
the books will be opened for subscriptions shall be necessary. The sa
company shall have the power to issue preferred stock upon such tern
as may be determined upon by the board of directors.

§ 4. ‘The board of directors of the said company shall consist of eig
members, which number may be increased to any number not exceedit
twelve, at any annual meeting of the said company, the directors
hold office for the term of one vear and until their successors are elected
and aecept the office, or they may be divided and elected as is provided
by an act approved) March second, eighteen hundred and cighty-eight
(session acts eighteen hundred and cightv-seven and eighteen hundred
and cighty-eight, page four hundred and forty-eight), and the said board
of directors shall from: their number elect a president and such other
officers and employees as they shall decm necessary for the proper con-
duct of the affairs of the said company; and they shall fill any vacancy
that may occur in the board or in the office of president.

§ 5. The said the Norfolk and Portsmouth belt line railroad company
is hereby authorized, empowered, and permitted to locate, construct,
equip, mnaintain, and operate a railroad of standard or narrow gauge,
with one or more tracks, to be operated by steam or electric power, from
any point on the line of the railroad of the Norfolk and Carolina rail-
road company, at or near Pinner’s point, in the county of Norfolk, in
this state, by such route as mav have been already, or may be hereafter,
adopted by the directors of the said company, through the said county
of Norfolk, and across the southern branch of the Elizabeth river to any
point on the line of the Norfolk and Western railway between the eastern
and southern branches of the Elizabeth river, in said county; and the
said company shall have the right to construct a bridge across the southern
branch of the Elizabeth river, at some point between Gilmerton locks,
on the Dismal swamp canal, and the United States navy yard, provided
the navigation of the said river shall not be interfered with; and the said
eompany may, at any time hereafter, extend its main line, and maintain
and operate the same from said point on the Norfolk and Western rail-
way to and into the city of Norfolk, with power to build a bridge across
the eastern branch of the Elizabeth river for that purpose: provided,
the navigation thereof shall not be interfered with, and provided that
such bridge shall not be erected west of the bridge of the Norfolk and
Western railway: and provided further, that the said company shall not
use or occupy any of the streets of said city of Norfolk, except by con-
sent and upon such terms as may be agreed to by the common and select
councils of said city. The said company shall have the right to operate
a ferry on the Elizabeth river, in connection with its railroad, or any of
its branches: provided, however, that the privileges hereby granted shall
not be construed so as to authorize the right to operate a public ferry to
ply between the cities of Norfolk and Portsmouth and the town of
Berkley in opposition to the Norfolk county ferries; and the said com-
pany shal] have the right to cross the track of any other railroad com-
pany at grade, or over, or under the same. subject to the provisions of
the general law now in force.

§ 6. The said company is authorized and empowered to locate, con-
struct, equip and operate any lateral branch or tramway, not exceeding
ten miles in length each, which a majority of its tive ‘kholders’| may
determine to construct and. operate, and by-such route as may be-deter-
mined. by its board of directors; and the said company may ‘connect of
unite its said road with that of any other company or companies; or
epnsolidate.or merge its-stock, property and franchises with those of any
other company or.companies operating, or authorized to operate in-this
stute, upon such terms and” under such name-as may be agreed upon
between the companies so uniting, or connecting, merging or consoli-
dating, or to enter into traffic or other arrangements or contract with any
other railroad company organized under the laws of this state for doing
business over the line of such other railroad; and to that end power is
hereby given to such company to make and carry out such contract by
lease, purchase, acquisition of stock in such company, or otherwise, as
will facilitate and consummate such connection or consolidation, or such
traffic contract, on such terms as may be agreed upon by the board of
directors of this company and any other such company. And the said
company. may own, charter, or otherwise employ vessels propelled by
steam, or sail, or by other means, in order to facilitate and meet the
demands of trade and commerce; and. to construct all necess: ary works,

conveniences and facilities as will aid it in the furtherance of its pur-
poses, such as wharves, piers, warehouses and other structures, with the
right to charge and collect tolls for the use of the same.

§ 7. It shall be lawful for the said company to borrow money and to
issue and sell its bonds, either coupon or registered, from time to time
for such amount, amounts or sums, and on such terms as its board of
directors may deem expedient and proper for its purposes, and may se-
cure the payment of said bonds by one or more mortgages or deeds of
trust conveying in trust all or any portion of its propert; v—real, persona]
and mixed—its contracts and privileges, and its chartered rights and
franchises, including its franchise to be a corporation, to such trustee or
trustees as to the board of directors may seem proper; and it may, as
the business of the company shall require, sell, lease, convey, and en-
cumber all or any portion of its property, rights, priv ileges or franchises.

§ 8. It shall be lawful for the said company to subscribe to and hold
shares of the capital stock in anv manufacturing company, railroad
company, or other corporation organized under the laws of this or any
other state, and any manufacturing company, railroad company, or other
corporation organized under the laws of this or any other state, may
subscribe to and hold shares of stock in said company, or may purchase,
hold or guarantee the bonds of the said company; and it shall be law-
ful for any county, city or town to subscribe to the capital stock of the
said railroad company, or any branch thereof, in the manner which the
law prescribes.

§ 9. The company may acquire by condemnation, according to the
laws of the state of Virginia, the lands required for the right of way of
the said railroad and its branches, and for the necessary stations and
depots, yards, and terminal facilities for its operation.

§ 10. Each stockholder in the company shall at all meetings or elec-
tions be entitled to one vote for each share of stock revistered in his
name, and the president and the board of directors of the said company
may enact such by-laws, rules, and regulations for the management of
the affairs of the said company as they may deem expcdient.

§ 11. Whenever the corporation shall exercise anv of the privileges
conferred by this act it shall be liable to the same taxes as may be im-
posed by law upon other like corporations or persons excreising like pri-
vileges, and all taxes due the commonwealth by the said company shal!
be paid in lawful money of the United States and not in coupous.

§ 12. This act shall at all times he subject to amendiment, alteration,
and repeal by the general assembly of Virginia, and in the event of a
consolidation with any other company, this company shall remain a
Virginia corporation so far as the right of suing and being sued is con-
cerned.

§ 13. The construction of the said road shall be begun within two
years from the first day of April, eighteen hundred and ninety-six, and
completed within five years from the date of the passage of this act.

§ 14. This act shall he in force from its passage.