Chap. 46.—An ACT disposing of the state’s interest in the Alexandria,
Loudoun and Hampshire Railroad, on certain conditions.

Passed April 17, 1807.

1. Be it enacted by the general assembly, That it shall be
lawful for the Alexandria, Loudoun- and Hampshire railroad
company to extend its road from the western terminus thereof,
as now limited by its charter, to any point or points to which
it may be authorized to extend the same by the legislature of
West Virginia or the legislature of Maryland; and the Board
of public works is hereby authorized and directed to sell to
the said Alexandria, Loudoun and Hampshire railroad com-
pany, all the stock heid and owned by the state in the Alex-
andria, Loudoun and Hampshire railroad company, at such
price as may be agreed upon by the said Board of pubic
works and the said company; and if the said company shall
make the purchase authorized as aforesaid, the payments
therefor shall be made in three equal instalments: one-third
shall be paid on the construction and completion of said road
from Leesburg to the town of Winchester, one-third on the
construction and completion of the road from Winchester to
the west side of the little Cacapon river, and the remaining
third on the construction and completion of the road from
the last-named point to its western terminus at a point in
Hampshire county, west of Paddytown; to secure the pay-
ment of the said sums of money, the Board of public works
shall take from the said company its bonds, payable as afore-
said, and secured by mortgage on deed of trust upon its fran-
chise and real and personal property, or any of them.

2, That for the purpose of enabling the said company to

make such extensions, or either of them, it shall be lawful
for the said company to vote in general meeting of its stock-
holders to increase its capital stock to an amount not excecd-
ing ten million of dollars, inclusive of the present capital of
the company; and it shall also be lawful for the said com-
pany to borrow money for the same purposes at a rate of in-
terest not exceeding eight per centum. per annum, and to
issue its bonds therefor, and secure the payment of the prin-
cipal and interest of such bonds by mortgage or deed of trust
upon its franchise and real and personal property, or any of
them.

3. That the Alexandria, Loudoun and Hampshire railroad
company may waive or modify the restrictions and probibi-
tions expressed in the ninth section of its charter, in the case
of any railroad company which shall enter into and observe
jast and equal arrangements with said company in regard to
terms of connection, rates of charge for transportation, the
running of the cars of the company upon the road of the
other, and the interchange or transfer of passengers and
freight.

4. That the said company shall, within three months from
the passage of this act, in general or special meeting of its
stockholders, determine and decide upon the acceptance or
rejection of this act, and shall certify its decision to the Board
of public works. On failure of said company so to accept,
then this act shall be void and of no effect.

9. Should the said company fail to commence the construc-
ion and extension of its road from Leesburg to Winchester
within two years from the passage of this act, and complete
the same within three years thereafter, and shall fail within
four years from the passage of this act to cominence the con-
struction and extension of its road from Winchester to the
west side of the little Cacapon river and complete the same
within three years thereafter, and shall fail within seven years
from the passage of this act to commence the construction
and extension of its road from the west side of little Cacapon
river to its western terminus at a point in Hampshire county,
west of Paddytown, and complete the same within three
rears thereafter, then on the happening of either event, the
Board of public works is directed to foreclose its mortgage,
or sell at public auction the property pledged to secure the
payment of the bonds given for the state’s interest as afore-
said, or so much thereof as may be sufficient to satisfy and
pay off the instalment or instalments remaining unpaid.

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