Chap. 164.—An ACT to incorporate The Norfolk and Princess Anne
Narrow-Gauge Railroad Company.

msbystined March 16, 1875.

1. Be it enacted by the “general assembly of Virginia,
That Alfred G. Tebault, John H. Overstreet, Horatio Cor-
nick, Walke S. Griggs, W.-W. Coke, George 7. Whitehurst,
Harry B.Styron, Emmerson Land, John W.S. Land, Bennett
Land, Senior, William B. Rogers, Benjamin F. Tebault, Wil-
liam H. Burroughs, John J. Burroughs, Andrew Martin,
Joseph Martin, and William Lamb, or any five of them, to-
getber with such other persons as may be associated with
them, be and they are hereby declared to be a body politic
and corporate, under the name and style of The Norfolk and
Princess Anne Narrow-Gauge Railroad Company, for the
purpose of constructing, maintaining, and operating a nar-
row-gauge railroad from the city of Nortolk, by way of
Kempsville and London Bridge, to some point eastward on
the Atlantic coast, and shall be invested with all the right:
powers, and privileges conferred, and be subject to all th:
rules, regulations, and restrictions imposed by the existin,
laws of Virginia, not inconsistent with the provisions of thi
act.

2. The capital stock of said company shall not exceed tw
hundred thousand dollars, to be divided into sbares of on
hundred dollars each. Every stockholder shall have ou
vote for each share of stock in all meetings of said com:

/panyv; and ten thousand dollars shall be the minimum sal
scription upon which said company may organize!

3. Subscriptions to the capital stock of the said compan:
may be made in money, materials, labor, land or otherwise
The said company may also acquire land by gift, purcha-
or otherwise, and shall have power to hold, le: ase, and sel
the same for the construction and maintenance of its road
depots, in the development of the country, and the encour
agement of immigration along its line, and for the ener
purposes of the company: provided, that said company shal.
-not hold more than fifty thousand acres at any one time.
and after ten years from the completion of its,road it shal
not hold more than one thousand acres in any one county 10
this state.

4. It shall be lawful for the said company to borrow
“money to an: amount not exceeding its capital, for the con-
struction, maintenance, equipment, and repairs of its road.
and the branch or lateral roads authorized by this act, and
its other necessary purposes, at a rate of interest not exceed-
ing nine per centum per annum, to issue its bonds therefor.
aud to secure the payment of the same by a deed of trust
or tee upon its property and franchises.

The said company shall have power to build branch and
lateral roads from its main line to any place or places within
the county of Princess Anne. — ,

6. The county of Princess Anne may subscribe to the cap
tual stock of the said company to an amount not exceeding
fifty thousand dollars, after such subscription shall have been
authorized by a vote of the people of said county, as now
authorized by the general law of this state provided in such

‘ases, and to make payment of such subscription, when s
authorized. It shall be lawful for said county to issue bonds
payable not more than thirty years after the date thereot.
and bearing interest not exceeding cight per centum per
annum, and to secure the payment Pot the principal and in-
terest of the same by a special tax sufficient to pay the
interest thereon as it shall acerne due, and to provide a sink-
ing fund adequate to the ultimate discharge of the principa:
thereof at maturity.

7. The work on the road herein authorized to be con-
structed, shall be commenced within two years and con-
pleted within five years from the passage of this act.

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