Chap. 206.—An ACT to Incorporate the Farmville, Charlottesville and
Stanardsville Narrow Gauge Railroad Company.

In Force March 78, 1871. |

i. Be it enacted by the general assembly, That it shall be
lawful for Thomas P. Jackson, John A. Dalby, J. B. Ely, P. H.
Jackson, H. R. Hooper, A. B. Venable, Wm. W. H. Thack-
ston, H. E. Warren, W. It. Berkeley, Blake Woodson, George
W. Palmore, Isham Seay, Benjamin A. Wilson, E. W. Hubard,
Wm. M. Perkins, Peter A. Forbes, Samuel Williams, Wm. A.
Moss, J. P. Phillips, P. A. Davis, John S. West, John W. Ed-
wards, Henry L. Gantt, Doctor Charles Cocke, James C. Hill,
Henry Rives, Robert II. Garter, John Wood, junior, Bennett
Taylor, R. 8. Beazley, Thomas M. Shearman, B. C. Flannagan,
J.J. Bowcock, and Micajah Woods, or any five of them, to
open books of subscription to the capital stock of the Farm-
ville, Charlottesville and Stanardsville railroad company, at
such times and places as they may determine upon; and when-
ever twenty-five thousand dollars shall have been subscribed
by persons and corporations able to pay, the subscribers may
organize the company; and thenceforth they, and such persons
as may afterwards be lawfully associated with them, shall be a
corporation, under the name of The Farmville, Charlottesville
and Stanardsville Railroad Company, for the purpose of con-
structing and operating a narrow gauge railroad from Farm-
ville to Stanardsville, with the privilege of extension south to
the Staunton river, or to Keysville, on the Richmond and Dan-
ville railroad, and shall be subject to all the provisions of the
Code of Virginia applicable to railroad companies, and not
inconsistent with the provisions of this act. _

2. The capital stock of said company shall not be less than
twenty-five thousand nor more than one million of dollars, to
be divided into shares of one hundred dollars each; and stock-
holders shall have one vote for each share of stock in all meet-
ings of stockholders.

3. Subscriptions to the stock of said company may be made
in money, materials, machinery, or land, and said company may
also acquire land by gift or purchase, and shall have power to
hold and sell the same for the construction or repair of their
road, for depots and other necessary purposes, or for purposes
of immigration: provided, that the amount of land so held at
any one time shall not exceed two hundred thousand acres, un-
less the company undertakes to construct the extensions autho-
rized by this act; in that event, a pro rata increase in the num-
ber of acres authorized to be held is granted, and at the
expiration of ten years from the completion of the road and
its proposed extensions, only so much land shall be held by
said company as may be necessary for the use of said company
for depots, depot grounds, and other necessary company pur-
poses. |

4, Subscriptions to the stock of said company may be made
by private individuals, mining, manufacturing, and bankin
companies, the corporations of Farmville, Scottsville, an
Charlottesville, the counties of Prince Edward, Cumberland,
Buckingham, Albemarle, Greene, and Charlotte, or any town-
ship through which said railroad passes, in either of the coun-
ties aforesaid; and the proper authorities (town trustees or
council, county judge or township board), of said towns, coun-
ties, or townships, may cause a vote to be taken therein on the
subject of such corporate subscription, at such time as the
commissioners of subscription named in the first section of
this act, or the company, may ask such vote to be taken in ac:
cordance with the general law governing such elections.
Should such subscription be ordered in accordance with the
provisions of such general law, the town authorities aforesaid,
county board of supervisors, or townsbip board, as the case
may be, shall make such subscription; and to this end, may
issue bonds, bearing a rate of interest not exceeding ten per
centum of such denomination, as said authorities may deter-
mine: provided, that said bonds, so issued, shall be taken by
the company at par in payment of such subscription, and shall
not exceed in amount, in the case of a town or county, the
sum of one hundred thousand dollars, or in the case of a town-
ship, the sum of twenty-five thousand dollars.

d. It shall be lawful for any railroad company, contiguous to
said narrow gauge railroad, to subscribe to and own an amount
of its stock not exceeding one-third part of the whole thereof.

6. It shall be lawful for said railroad company to borrow
money for the construction or repair of its road, issue bonds,
and secure the same by mortgage upon its property and fran-
chises, or otherwise.

7. The said railroad shall be commenced within three years,
and completed from Farmville to Stanardsville within five years
from the passage of this act.

8. ‘This act shall be in force from its passage.