Chap. 196.—An ACT to Incorporate the West Point and Hanover Junction.
Railroad Company. °

Approved July 8, 1870.

1. Be it enacted by the general assembly of Virginia, That
G. A. Wallace, John B. Davis, and P. H. Aylett, of Richmond ;
Thomas Doswell, and Theodore Garnett, of Hanover; R. O.
Peatross, W. R. B. Wyatt, of Caroline; James G. White, B.
B. Douglas, Robert S. Ryland, William D. Pollard, William
M. Stehley, William S. Wood, B. Richards, Roger Gregory,
Carmin S. Garrett, Larkin S. Garrett, Fleming Meredith, Wil-
liam R. Aylett, John Halderman, C. J. Hill, and James F.
New, of King William; Joseph Ryland, Thomas B. Henly,
William F. Bland, and E. B. Montague, of King and Queen;
John T. Sewell, J. N. Stubbs, J. W. C. Catlett, J. B. Brown,
and John P. Tabb, of Gloucester; and S. T. Charlton, of Harris-
burg, Pennsylvania, their associates and successors, be and they
are hereby incorporated and made a body politic and corporate,
by the name and designation of The West Point and Hanover
Junction Railroad Company, for the purpose of building,.
equipping, and operating a railroad from the junction of the
Chesapeake and Ohio and Richmond, Fredericksburg and Po-
tomac railroads, in Hanover, to Deep Water at West Point,
in King William county.

2. That sad company, when fully organized, shall have a com-
mon seal, sue and be sued by its corporate name, and be other-
wise invested with all the powers, rights, and privileges, and:
subject to all the duties, restrictions, and responsibilities im-
posed by the laws of Virginia on railroad companies.

3. That the capital stock of said company shall not, except.
as hereinafter provided, exceed one million dollars, to be di-
vided into shares of one hundred dollars each; but said com-
pany shall, if found necessary to complete, fully equip, and put.
their road in operation, have power to issue its bonds and se-
cure the same by mortgage on its property and franchise to-
the further amount of one million dollars: provided, that no
greater interest than ten per centum shall be stipulated to be
paid thereon, nor said bonds disposed of for less than eighty
per centum of their face or par value.
4, That said company may receive subscriptions to its stock
in both real and personal estate other than money; but all
real estate so received shall be disposed of within ten years
from the completion of the road; and thereafter said company
shall not acquire or hold any more land or other real estate
than shall be absolutely necessary for its use in the location
and erection of depots, station houses, shops, and wharves,
with the usual breadth of‘land allowed along its road bed; and
all personal estate received as subscription for stock shall be
disposed of within twelve months after acceptance thereof by
the company, and the proceeds applied in the same way as if
the original subscription had been in money.

5. That said company, after said road is completed, may,
with the concurrence of two-thirds of all the stock in a general
meeting of the stockholders, called for the purpose and ad-
vertised for thirty days in one or more newspapers published
nearest to West Point, increase its capital stock to the further
amount of one million dollars, to be divided as hereinbefore

rovided, to be employed in building, purchasing, or charter-
Ing, and running vessels, propelled either by sail or steam,
from its terminus at West Point to any part or parts within
ue capes of Virginia, or on the Atlantic coast of the United
tates.

6. That said company may organize under this charter so
soon as one hundred thousand dollars have been subscribed,
and ten thousand dollars actually paid up on subscriptions to
its stock and deposited in some bank or banking house in the
city of Richmond to its use and credit: provided, that said
company shall organize within one year from the passage of
this act, and shall, with three years from such organization,
commence and finish their road so as to be ready for the roll-
ing stock, or, at the pleasure of the general assembly, forfeit the
rights, privileges, and franchises hereby granted.

7. That within thirty days from the passage of this act, the
corporators herein named, or a majority of them, may assem-
ble at West Point, in King William county, and arrange such
plans, and adopt such rules and regulations, for the temporary
management of the affairs of the company to be organized
under this act, as may be deemed necessary: such as specify-
ing times and places for opening books of subscription and
appointing commissioners therefor, employing agents to solicit
subscriptions to stock, attorneys to draw all necessary convey-
ances, and whatever else may be found convenient or needful
to facilitate the organization of the company, not inconsistent
with the general railroad law.

8. That whem the requisite amount of stock has been sub-
scribed for and paid in, the commissioners provided for in the
preceding section, or a majority of them, shall call a meeting
ot stockholders at West Point, and if a majority be present,
in person or by proxy, they shall immediately proceed to adopt
such by-laws and rules for the organization and government
of the company as may be deemed best and not inconsistent
with the laws of Virginia relating to corporations of this sort;
and when said organization shall be completed, the fact shall
be officially communicated to the board of public works by
such officer or officers, temporary or regular, as may, by the
meeting of stockholders aforesaid, be designated.

9, That the counties of King William and King and Queen
are hereby authorized, in the manner and under the rules and
regulations prescribed by the Code, to subscribe to the capital
stock of said company, each, an amount not exceeding one
hundred thousand dollars, and to issue bonds in such form,
running such lengths of time, and bearing such rates of inte-
rest, and payable at such periods and places, as the county
courts of said counties may determine.

10. In all meetings ot the stockholders of the said company,
those only shall be allowed to vote who have complied with
the terms of subscription, and each share of stock shall entitle
the holder to one vote.

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