Chap. 260.—An ACT to incorporate The Roanoke Valley Railroad Com-
pany.

Approved March 26, 1875.

1. Be it enacted by the general assembly of Virginia, That
@ company is authorized to be formed, and when formed and
organized, as hereinafter directed, shall become and be a cor-
poration bearing the name of The Roanoke Valley Railroad
Company, for the purpose of constructing and operating, by
steam or other motive power, a railroad, with one or more
tracks, from some point on the North Carolina state line, in
the county of Mecklenburg, Virginia, to Clarksville, on the
Roanoke river, and as such shall have power to purchase,
receive, hold, and transfer real and personal estate necessary
for the purposes of its incorporation; to have a common seal
and succession for ninety-nine years; to make all necessary
rules, regulations, and by-lawa conducive to the successful
prosecution of the objects of the organization; and shall
possess, and may exercise and use, all the rights, privileges,
and powers incident to a body corporate under the general
laws of this state.

2. The capital stock of the company shall be five hundred
thousand dollars, divided into five thousand shares of the
value of one hundred dollars each.

3. The said company shall have the exclusive right to use
the road, when constructed, for the transportation of freights
and the carriage of persons at such rates and for such prices
as the company may deem proper, and subject to such modifi-
cations as it may from time to time make, not inconsistent
with the general railroad laws of this state. ,

4, That to raise the capital stock of the company, Tucker
Carrington, W.M. Wilson, John H. Bullock, Fulwar Skip-
with, William H. Boyd, W. M. Sneed, William Townes, Wil-
liam H. Burwell, T. F. Goode, Marmaduke J. Hawkins, E. K.
Harris, T. F. Humphries, and R. D. Paschall, are appointec
commissioners, who, or a majority of them, shall have powe
to open books of subscription towards the capital stock. a
such times and places as they may designate, under rules
regulations, and limitations to be prescribed by them.

5. Whenever the sum of fifty thousand dollars or more
shall be subscribed by solvent persons, counties, or corpora
tions, the commissioners named in the preceding section shal
call a meeting of such subscribers, and a majority of sack
subscribers, in person or by proxy, when so met, shall pro.
ceed to organize by electing from their number a president
and seven directors, who shall constitute a board, and possess
the powers, and be charged with the duty of making all
necessary contracts, and doing whatever also may, in their
judgment, be necessary and proper in the construction of
said road, and furnishing it with cars, rolling stock, and other
things required in operating the same, and as soon as so fur-
nished and organized, the said subscribers, and such others
as may thereafter subscribe for stock, and become thus asso-
ciated with them, shall become and be a body corporate, as
prescribed in the first section of this act.

6. At all meetings of stockholders every share of stock
shall be represented by one vote, to be cast by the person
owning the same, or by such proxy as he shall appoint to
act for him; and a majority of the stockholders, when ao
roprosented, shall have all the powers and rights, and be
subject to the responsibilities conferred and imposed upon
the corporation; and if, at any such meeting, such majority
shall not be present, the stockholders who are present may
adjourn from time to time until the attendance of such ma-
jority can be secured.

7. Subscriptions to the capital stock may be made in
money or real or personal estate, of such kinds and value as
may be agreed upon between the persons subscribing and
the commissioners mentioned in section four, before and up
to the organization and appointment of directors, and there-
after the directors so to be appointed and their successors.

8. The stock may be increased by a vote to that effect,
taken at any stockholders’ meeting called to consider the

roposed increase as may be prescribed in the by-laws.

9. If unable to obtain necessary lands by contract on rea-
sonable terms, the company may, by proper legal proceed-
ings, cause to be condemned for its use 80 much of the land
lying on either side of the line as the same may be laid ont
of the proposed tract on each side not exceeding one hun-
dred feet, and making a breadth not exceeding two hundred
feet along the route thereof, as may be necessary, in the
judgment of the company, or the directors, for the succeas-
ful working of the road, and so much additional land as the
company may require for the erection of depots, shops, ware-
houses, and other buildings needed for the road, and for the
use of its officers, agents, and employees.
10. Proceedings instituted for the condemnation of lands
required by the company shall be conducted and prosecuted
according to the provisions of the laws of the state in such
cases made and provided.

11. The company, through the directors, may contract
with any railroad company for the transportation of freight
and the carriage of passengers over its road, on such terms
and conditions as may be mutually agreed upon between
them, or to sell, donate, or lease its said road and franchise,
and all other property, real and personal, to any such rail-
road company, or to consolidate and merge the same with
and into the said company, on such conditions and limita-
tions as may be agreed upon; and in case of such sale, trans-
fer, lease, consolidation, or merge, the said railroad company
shall succeed to all the rights, powers, and privileges, as well
as be subject to the liabilities conferred and imposed in this
act upon the Roanoke valley railroad company, as to so
much of said road as may be thereby acquired, and neces-
sary for the proper running and use therecf.

12. The Roanoke valley railroad company may connect
with avy railroad in Virginia so as to form a continuous line,
and to this end is invested with all the powers and rights
herein conferred for the construction and working ofthe
road specified in this act.

13. The dompany may issue common stock, guaranteed
stock, preferred stock, or borrow on bond and mortgage, and
in such amounts of either as it may deem expedient to secure
the construction of the road, its proper equipment, and the
operating the same.

14. The company shall possess, have and enjoy, and may
exercise all the rights, privileges, and immunities conferred
on railroads under the general laws of this state.

15. Any railroad corporation in this state shall have the
right to connect with, prorate, exchange or traffic with said
company upon mutually reciprocal terms, and in case of any
disagreement as to terms or rates, the same shall be decided
by arbitration, or in any manner hereafter prescribed by law.

16. The work on said railroad shall be commenced within
three years and completed within ten, under penalty of for-
feiture of its charter. The gauge of the road shall be four
feet, cight and one-half inches.

17. The said company may acquire, by gift, grant, pur-
chase, lease, or otherwise, all of the property of the former
Roanoke valley railroad company between the point of be-
ginning of said road on the North Carolina line and the town
of Clarksville, together with all the rights and franchises of
the company last aforesaid.

18. This act shall be in force from the date of its passage;
and all acts and parts of acts inconsistent with this act are
hereby repealed.