Chap. 258.—An ACT to Amend the Ist, 4th and 7th Sections of an Act
entitled an Act to Incorporate the Burkeville, Lunenburg and Mecklen-
burg Railroad Company, approved November 5th, 1870.

Approved March 28, 1878.

1. Be it enacted by the general assembly of Virginia, That
the first, fourth and seventh sections of an act entitled an act
entitled an act to incorporate the Burkeville, Lunenburg and
Mecklenburg Railroad Company, approved November fifth,
eighteen hundred and seventy, be amended and re-enacted so
as to read as follows:

§ 1. Be it enacted by the general assembly of Virginia, That
it shall be lawful to open books of subscription for the capital
stock of a company, to be incorporated by the name of the
Nottoway, Lunenburg and Mecklenburg Railroad Company,
for the purpose of constructing a railroad from any point on
the Atlantic, Mississippi and Ohio railroad not west of Burke-
ville nor east of Blacks and Whites, in the county of Nottoway,
via Lewiston or its vicinity in the county of Lunenburg, to
some point on the proposed line of the Norfolk and Great
Western railroad, in the county of Mecklenburg, or to such
other point in the county of Mecklenburg as the president and
directors of said company shall hereafter determine; and the
said road may be of the same gauge as that of any road with
which it may connect, or may be wholly or in part constructed
in the manner known as the narrow gauge.

§ 4. It shall be lawful for the board of directors of the said
company to borrow money for the purposes of this act, to an
amount not exceeding the authorized capital stock of the said
company, at a rate of interest not exceeding eight per cent. per
annum; to issue certificates of said loans, and to pledge any
or all of the property of said company, including its franchises,
by mortgage or otherwise, for the payment of the same and
the interest that may accrue thereon. And the said board of
directors may from time to time issue, as the necessities of the
company may require, six per cent. preferred or seven per cent.
guaranteed stock, and may provide that the said preferred
stock shall participate in all the profits of the company in excess
of-six per cent.; and may execute a mortgage on the properties
and franchises of the said company to secure the dividends on
the guaranteed stock: provided, that such mortgage shall be
second and inferior to any mortgaze which at any time may be
created to secure the payment of principal and interest on any
bonds which may be issued under the provisions of this
section.

§ 7. The president and directors of the said company may,
with the consent of the stockholders owning a majority of the
capital stock, sell or lease its road, with all its properties, in-
cluding its franchises, to any connecting road now or hereafter
to be constructed. When the said Nottoway, Lunenburg and
Mecklenburg railroad shall be constructed for twenty miles,
the same may be operated for the purposes of trade and travel;
and the board of directors may contract with the proper autho-
rities of any connecting road for the use of its locomotives and
cars, or may hire out the transportation of freights and pas-
sengers on such terms as may be agreed upon: provided, how-
ever, that the said road shall be commenced within three and
completed as far as Lewiston or its vicinity within five years
from the passage of this act.

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