CHAP. 77.—An ACT to amend and re-enact sections 1 and 3 of an act
toincorporate the Bristol Coal and Iron Narrow-Gauge Railroad
Company, approved March 27, 1876, as amended by an act approved
March 21, 1877, and an act approved March 12. 1878.

Approved February 16, 1880.

l. Be it enacted by the general assembly, That sections one §
and three of an act entitled an act to incorporate the Bristol el
Coal and Iron Narrow-Gauge railroad company, and to transfer ™
toit certain franchises, rights, privileges and property of the a
Virginia and Kentucky railroad company, approved March ®!
twenty-seventh, eighteen hundred and seventy-six, as amended ac
by an act approved March twenty-first, eighteen bundred and M
seventy-seven, and an act approved March twelfth, eighteen
hundred and seventy-eight, be amended and re-enacted so as
to read as follows:

§ 1. That James M. Barksdale, James H. Wood, Joseph R.
Anderson, Isaac B. Dunn, W. W. James, Z. L. Burson, of Good-
son, Virginia; John Jett, H. W. Holdway, H.S. R. Morrison,
M. B. Wood, Ira P. Robbinett, John Wolfenbarger, R. B. Fu-
gate, James H. Horton and C. C. Duff, of Scott county; A. J.
Litton, Peter C. Allen, A. L. Pridemore, Patrick Hagan, Wil-
liam F. Edmunds, Marion D. Richmond and J. M. McElroy, of
Lee county; Henry C. Slemp, Hiram Riggs, Ellington Wells,
Morgan T. Lipps, George W. Kilgore, Jesse B. Hylton, H. H.
Dodson and Jeremiah Chase, their associates and successors,
be and they are hereby incorporated and made.a body politic
and corporate by the name of The Bristol Coal and Iron
Narrow-Gauge Railroad Company, for the purpose of building,
equipping and operating a railroad from Bristol-Goodson, in
Washington county, via Estilville and Speer’s ferry, in Scott
county, and Big Stone gap, in Wise county, to Cumberland
gap, in Lee county.

§ 3. The capital stock of said company shall not, except
as hereinafter provided, exceed one million of dollars, to be
divided into shares of twenty dollars each, and each stock-
holder shall be entitled to cast one vote for every share of
stock held in said company; but said company shall, if found

. hecessary to complete, fully equip and put their road in opera-
tion, have power to issue its bonds, bearing interest at not
more than eight per centum per annum, and secure the same
by mortgage or deed on its property and franchises to the fur-
ther amount of one million of dollars: provided, that said
company be and is hereby authorized to record one or more

“ mortgages or deeds of trust in any county or city of the state
of Virginia, and the tax shall be assessed and paid upon the
amount of bonds or other obligations secured thereby, actually
sold or hypothecated during the year, on the first day of Feb-
ruary of each year, and no other tax shall be demanded upon
such deeds of trust or mortgage.

t 2. This act shall be in force from its passage.