Chap. 352.—An ACT to Incorporate the New River and Piedmont
Marrow-Gauge Railroad Company.

Approved April 80, 1874.

1. Be it enacted by the general assembly, That it shall be

*" lawful for books of subscription to be opéned in the town of

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Martinsville, in the county of Henry, under the direction of
James M. Smith, Senior, Fleming Saunders, George W.
Booker, George D. Gravely, Jessee B. Lavinder, J ohn W.
Morris, George E. Waller, and William D. Stultz, or any
three of them; at the store-house of Swinfield Stanley, in
said county, under the direction of Swinfield Stanley, Wil-
liam W. Morms, John H. Davis, Henderson Phillips, Clark
P. Turner, and B. W. L. Phillpott, or any three of them; at
the store-house of P. H. Hudson, at Long Branch, in the
‘county of Franklin, under the direction of John Cannady,
Robert H. Saunders, Thomas S. Saunders, Alexander In-
gram, Thomas Prilliman, and Waddy James, or any three
of them; at the store-house of Smith and Jett, at Elamsville,
in the county of Patrick, under the direction of W. T. B.
Taylor, John P. Barksdale, Charles Nolan, William Smith,
Columbus Houchins, E. B. Turner, and Stephen Turner, or
any three of them; at Floyd courthouse, under the direction
of Jackson Godby, James Is Tompkins, John Merritt, P. L.
Howard, John Payne, and Z. T. Dobyns, or any three of
them; at the store-house of A. B. Bennett, in the county of
Floyd, under the direction of Tobias Phillips, A. B. Bennett,
Bryant Hylton, and Braxton Cox, or any three of them; at
Central depot, Montgomery county, under the direction of
G. C. Wharton, David Bill, Freeman Bullard, Stocton Heth,
R. H. Adams, William Ingles, and James Zoll, or any three
of them; and such other persons and corporations as may
be associated with them, are hereby declared a body politic
and corporate, under the name of the New River and Pied-
mont Narrow-Gauge Railroad Company; and by that name
shall have power to sue and be sued, to plead and be impleaded
in all the courts of the commonwealth, to have a common
seal, which they may break or alter at pleasure, and to have
perpetual succession; and shall also have all the powers,
rights, and franchises necessary to construct, equip, ‘and
maintain a narrow-gauge railroad, to be known as the New
River and Piedmont Narrow-Gauge railroad; to begin at a
point at or near Central depot, on New river, in the count
of Montgomery, on the Atlantic, Mississippi and Ohio rail
road, by the way of the town of Jacksonville, in the county
of Floyd, to the town of Martinsville, in the county of Henry.

2. ‘The capital stock of said company shall not exceed two
millions dollars, to be divided into shares of twenty-five dol-
Jars each.

3. It shall be lawful for the said company; when it shall
have been organized in the manner prescribed by this act,
and in accordance with the laws of this commonwealth, to
receive subscriptions to the capital stock of-said road, to be
paid in lands, labor to be done on said road, and for its con-
‘struction and equipment in such manner as may be prescribed
by said company and agreed upon by the parties making the
‘subscription, and that corporations domiciled within this
state or elsewhere, may subscribe to the capital stock of said
company. p

4. It shall be lawful for the counties of Henry, Patrick,
Franklin, Floyd and Montgomery, or for any township in
any one of said counties, to subscribe in its corporate capa-
city to the capital stock of said company in the manner and
form provided for by law.

5. The said company shall be authorized, in order to raise
means to construct said road, to borrow money upon the
faith of its property and franchises; to issue its bonds there-
for; to execute such deeds of trust or mortgages as may be
necessary, and to borrow money upon such terms as may be
agreed upon, not inconsistent with the laws of this common-
wealth.

6. It shall be lawful for said company, when the said road
shall have been completed, or in order to secure its construc-
tion and completion, to consolidate with any other railroad
now constructed or that shall hereafter be constructed, upon
euch terms as may be agreed upon by the constituted autho-
rities of the respective roads, not inconsistent with the laws
of this commonwealth.

7. The said company shall be organized when the amount
of twenty thousand dollars shall have been subscribed to the
capital, and two per centum thereon shall be paid in; work
on said road shall be commenced within two years from the
passage of this act, and completed within five years.

8. This act shall be in force from its passage, and subject
to repeal, alteration, or modification, at the pleasure of the
general assembly.