Chap. 203.—An ACT to Incorporate the New York and Norfolk Railroad
Company.

Approved March 15, 1872.

1. Be it enacted by the general assembly of Virgina, That it
shall be lawful to open books of subscription in Drummond-
town, in the county of Accomack, under the direction of Abel T.
Johnson, John W. Gillett, Bejamin T. Gunter, Jolin W. H.
Parker, John Neely, Doctor W. S. Horsey, James H. Fletcher,
Albert R. Heath, William D. Cropper, L. C. H. Finney, Spen-
cer D. Fletcher and Edmund T. Bagwell, or any three of them;
in Eastville, in the county of Northampton, under the direction
of Doctor William A. Thorn, Doctor P. A. Fitzhugh, John W.
Tankard, Doctor Arthur Downing, Johu Nottingham, William
P. Moore, junior, Hamilton 8. Neule, Doctor William Brick-
house, Leonard B. Nottingham, or any three of them; and in
Norfolk city, under the direction of William Lamb, Edward P.
Pitts, William H. Turner, V. D. Groner, R. C. Taylor,
Charles Sharp and George W. Grice, or any three of them,
for the purpose of receiving subseriptions of stock, not exceed-
ing two millions five hundred thousand dollars, to constitute
@ joint capital stock to construct a railroad from some point on
the Virginia and Maryland boundary line.in Accomack county,
to some point on the Chesapeake bay, in Northampton county,
and thence by steam ferry to the port of Norfolk, or by ferry
to some point in Norfolk or Princess Anne county, and thence
by railroad to the port of Norfolk.

2. Whenever one hundred thousand dollars of stock shall
have been subscribed, aud two per cent. thereon paid in, the
subscribers, their executors, adininistrators or assigns, shall
be and are hereby constituted a body politic and corporate,
under the name and stvle of the New York and Norfolk Rail-
road Company; and shall be subject to all the provisions of the
Code of Virginia applicable to internal improvement compa-
nies, except so far as the same may be inconsistent with the
provisions of this act.

3. Said colpany may receive subscriptions of land situated
in Virginia to its capital stock: provided, that ten years after
its completion, it shall not hold more than five thousand acres
in any one county in this state.

4. Said company may own and navigate steam and other
vessels necessary to the performance of the ferry service herein
authorized, may operate a telegraph line and carry on an
express business, between the city of Norfolk and other places
on its own line. It may build all necessary piers and wharves
for its business, and for such purposes may purchase and hold
under the laws of this state, any wharves, shores or flats on its
line and at Norfolk. It may erect oneor more grain elevators
at convenient points, and issue warehouse certificates with
customary charges on the same.

5. It shall be lawful for any railroad or steamboat company
incorporated by this state, to become a stockholder in this cor-
poration, and this company may own stock in any railroad or
steamboat company. And it shall be lawful for this company
to lease any railroad or steamboat company connecting with it,
or to lease any portion or all of its land, property, or fran-
chises, to any other railroad or steamboat company: provided
a majority of the stockholders of each company shall consent.
to the same.

6. The directors, by and with the consent of the stockholders..
may issue a preferred stock to an amount not exceeding twenty-
five per cent. of the capital already subscribed and paid up,
upon which dividends not execeding eight per cent. may be
declared, and shall have power to borrow money for the pur-
poses of this act, and to issue proper certificates of such loans
and pledge the property of the company by mortgage or other-
wise for the payment of the same, and the interest that may
accruc thereon: provided, the bonds or certiticates of debt
thus issued shall not exceed the amount of full paid capital
stock subscribed.

7. Upon the application of a majority of the corporators
named in this charter, the judges of Accomack and Northamp-
ton counties may order an election in their respective countics,
after thirty days’ notice shall have been given, to take the scnse
of the qualified voters of the countics upon the question of
a subscription to the New York and Norfolk Railroad Com-
pany in accordance with the general law provided in such cases:
provided, the subscription made by the county of Accomack
shall not exceed three hundred thousand dollars, and the sub-
scription made by the county of Northampton shall not exceed
two hundred thousand dollars; and that the said counties may
issue bonds, to run for such time, and to bear such rate of
interest as they may elect, and provide for the payment of
interest, and finally for the redemption of the principal thereof
in such manner as they may determine.

8. In all meetings of the stockholders, each stockholder shall
be entitled to one vote for each share of stock held.

9. The construction of the said New York and Norfolk rail-
road shall be commenced within two years and completed
within five years from the passaze of this act.

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