Chap. 605.—An ACT to incorporate the Angusta and Nelson railroad company.

Approved March 1, 1898.

1. Be it enacted by the general assembly of Virginia, That J. KE. San-
ger, W. H. Page, J. T. Leightner, Nathaniel Hibbert and J. 8. Runci-
inan, and their ; associates, successors and assigns be, and they are hereby,
made and declared a body politic and corporate by the name and sty le
of Augusta and Nelson railroad, and as such shall be empowered to
locate, construct and operate a standard gauge railroad from some point
in Augusta or Rockingham county to a point in Nelson or Amherst
county, and to operate such railroad by steam, electricity or other power.

2. It shall be lawful for the said company to construct and operate
branch roads not exceeding twenty-five miles each.

3. Said company may mortgage or sell the whole or any part of its
property, charter rights or franchises.

4. The company may receive subscriptions to its capital stock, to be
paid in money, land, labor, property, material and equipment, at such
valuation and terms as agreed on by the incorporators, or directors and
subscriber.

®&. Subject to the general law the company shall have the power to
cross any other railroad or pike or county road at, above or below grade.

6. It shall be lawful to acquire rights of way by purchase, donation,
or condemnation, according to the laws of Virginia.

7. The capital stock shall be not less than ten thousand dollars and
not more than twenty-five thousand dollars, but by consent of the ma-
jority of the incorporators, or directors, this amount may be increased
to an amount requisite for the purposes of the company; in such case
the company must forward to the treasurer of the state of Virginia a fee
suficient to cover the increased capital.

8. The company shall commence the road in two years from the pas-

sage of this act and complete the construction of main line within five
rears.
, 9. The capital stock of the company shall be divided in shares of
fifty dollars each, and may be sold at or below par and be non-assessable.
The corporators shall have all the power of a board of directors until
the said board is elected.

10. When two thousand dollars is subscribed, and the board of direc-
tors or incorporators have elected a president, the company shall be con-
sidered legally organized and may proceed to business.

11. The board may establish offices and agencies where they deem
proper, but the principal offices of the company shall,,be,,in this state,

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All taxes due the commonwealth shall be paid in lawful money and not
in coupons.

12. The company may sue or be sued, plead or be impleaded, when
its rights may come in question.

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