An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1877/1878 |
---|---|
Law Number | 219 |
Subjects |
Law Body
Chap. 219.—An ACT incorporating the Pittsylvania and Franklin
railroad company.
Approved March 12, 1878.
1. Be it enacted by the general assembly, That it shall be
lawful to open books of subscription at the town of Rocky
Mount, and: such other places in the county of Franklin as
the commissioners hereinafter named shall designate, under
the direction of Benjamin Williams, James Patterson, John
A. Street, 8. D. English, William Powell, G. W. B. Hale, G.
H. T. Greer, Jesse Prunty, Thomas B. Greer, George W.
Brown,. James W. English, A. L. Edmundson, George E.
Dennis, Peter Sanders, Benjamin B. Webb, S. Coleman,
James H. Hash, William D. Young, John T. Cannady, and
8. B. Willis, or any five of them; and at Bergher’s store and
Ward Springs station, in the county of Pittsylvania, under
the direction of B. A. Pullen, J. T. Graves, Walter Coles, J.
G. Witcher, C. Stone, F. L. W. Graves, H. C. Mease, H. W.
Howard, and B. P. Watson, or any five of them, for the pur-
pose of receiving subscriptions to an amount not exceeding
one million dollars, in shares of twenty-five dollars each, to
constitute a joint capital stock for constructing a railroad
from some point on the main line of the Washington City,
Virginia Midland and Great Southern railroad company, or
any branch thereof, in the county of Pittsylvania, to Rocky
Mount (Franklin courthouse), in the county of Franklin.
2. Be it further enacted, That whenever ten thousand dol-
lars of the amount aforesaid shall have been subscribed, the
subscribers, their executors, administrators, and assigns, shall
be and they are. hereby declared and constituted a body
porte and corporate, under the name and style of The
ranklin and Pittsylvania railroad company, and as such
shall be entitled to all the privileges conferred, and subject to
all the restrictions imposed by the Code of Virginia, edition
of eighteen hundred and seventy-three, and acts amendatory
thereof, so far as the same are applicable and not inconsistent
with this act.
3. It shall be lawful to receive subscriptions to the capital
stock of this company in money, labor, land, or material—
such as timber, stone, lumber, or other supplies usually
required in construction of railroads.
4, It shall also be lawful to receive subscriptions to stock
of this company from any connecting railroad company, or
from any mining or manufacturing company which may be
established to operate upon the line of this railroad, in the
state of Virginia, and interested in its construction.
5. The said company shall have power to build branches
or lateral roads, not exceeding twenty miles in length, to
connect with any mines, iron works, or other manufactures,
or beds or deposits of other minerals, in said counties or
adjacent counties.
6. Subscriptions to the stock of said company may be
made by.the county of Franklin, or any adjoining county
interested in the construction of this road or its branches,
except the county of Pittsylvania: provided, however, that
the subscription voted by the counties shall be expended in
the counties making the same, and that the subscription in
each county shall not exceed two bundred thousand dollars ;
and the proper authorities of said counties shall cause a vote
to be taken therein on the question of such county subscrip-
tions, in accordance with the general law governing such
elections, at such time as the commissioners of subscription
named in the first section of this act, or a majority of them,
or the company may ask such vote to be taken, except that,
in order to authorize said subscription, it shall only be neces-
sary that three-fifths of the votes cast at such election shall
be in favor of said subscription, which said three-fifths shall
include a majority of the registered frecholders of the county.
Should such subscriptions be ordered, the board of saper-
visors of said county or counties shall make such subscrip-
tions, notwithstanding that the amount so subscribed shall
require the imposition of an annual tax in excess of twenty
cents on the one hundred dollars, to pay the interest on the
amount so subscribed, and to provide a sinking fund for the
extinguishment of the principal; and to this end may issue
bonds bearing a rate of interest not exceeding six per centum
per annum, of such denominations as said authorities may
determine.
7. It shall be lawful for said railroad company to borrow
money for the construction or repair of the road, issue bouds,
and secure the same by mortgage upon its property and fran-
chises, or otherwise.
8. It shall be lawful for said company to lease its road, or
any part thereof, to the Washington City, Virginia Midland,
and Great Southern railroad company, or any other railroad
company chartered by the commonwealth.
9. This act shall be in force from its passage.