Chap. 295.—An ACT to Incorporate the Danville and Franklin Railroad
Company.

Approved March 29, 1873.

1. Be it enacted by the general assembly of Virginia, That
it shall be lawful to open books of subscription, in the town of
Danville, under the direction of William T. Clarke, C. G. Hol-
land, William T. Sutherlin, H. W. Cole, John R. Pace, and
Powhatan Bouldin, or any two of them; at Calland’s, in the
county of Pittsylvania, under the direction of W. W. Cobbs,
W. A. Witcher, and W. A. I. Finney; at Dickinson's in the
county of Franklin, under the direction of F. R. Brown, S. G.
Bernard, William A. Brown, and William W. Simones, or any
two of them; at Franklin courthouse, under the direction of
Hugh Nelson, R. Dickinson, R. A. Scott, and Giles W. B. Hale,
or any two of them; and in such other places, and under the
direction of such other agent or agents, as a majority of the
commissioners appointed for the town of Danville shall desig-
nate, for the purpose of receiving subscriptions to an amount
not exceeding five hundred thousand dollars, in shares of one
hundred doHars each, to constitute a joint capital stock, for the
purpose of constructing a railroad from the town of Danville,
Virginia, to or near Rocky Mount, in Franklin county.

2. Whenever twenty thousand dollars of stock shall have
been subscribed, according to law, the said incorporators, their
executors, administrators and assigns, shall be, and they are
hereby declared to be a body politic and corporate, under the
name and style of the Danville and Franklin Railroad Company,
and shall be subject to all the provisions of the Code of Vir-
ginia and other general laws applicable to internal improve-
ment companies, except so far as the same may be inconsistent
with the provisions of this act.

3. If thecapital stock of the said company shall be deemed in-
sufficient for the purposes of thisact, it shall and may be lawful for
the directors, or a majority of them, from time to time, to increase
the same by the addition of so many shares as they may deem
necessary, to an extent not to exceed one million dollars, for
which they may, at their discretion, cause subscriptions to
be received in such manner as may be prescribed by them, or
may sell the same for the benefit of said company for any sum
not under the par value thereof; and the said directors or a
majority of them, shall, by and with the consent of the stock-
holders in general meeting assembled, have power to borrow
money for the purposes of this act, to issue certificates of such
loans, and to pledge the property and franchises of the com-
pany, by mortgage or otherwise, for the payment of the same,
and the interest which may accrue thereon.

4. It shall be lawful for said company to receive not exceed-
ing two hundred thousand acres of land in payment for sub-
scriptions of stock: provided, however, that it shall not be
lawful for said company, at the expiration of ten years after
the completion of said road, to hold more land than shall be
necessary for the use of the road; and it shall be lawful for
said company to receive in payment for subscriptions to its
capital stock, labor and materials of any kind, to aid in the
construction of its road, on such terms as may be agreed on.

5. The said company shall have the right to make such con-
tract as they may deem necessary, with any other internal im-
provement company of this state, to aid in the construction of
their road, or to make suitable arrangements for the transfer of
freight from one road to another; and shall not refuse a free
interchange of freight cars with roads of the same gauge upon
reasonable terms; and such other internal improvement com-
panies are hereby authorized to make such contracts and ar-
rangements with the Danville and Franklin Railroad Company;
and the said company shall have the right, with the consent of
the stockholders, in general meeting assembled, to extend the
said road so as to make connection with the Atlantic, Missis-
sippi and Ohio railroad, at such point as they may deem most
suitable in the county of Roanoke or Bedford.

6. The said company shall commence its road within two
years and complete it within six years@rom the passage of
this act.

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