Chap. 244.—An ACT to incorporate the Warm Springs Valley Rail-
road Company.

Approved March 14, 1878.

1. Be it enacted by the general assembly, That it shall be
lawful to open books of subscription at the town of Coving-
ton, in the county of Alleghany, under the direction of Den-
unis Shannahan, William Skeen, O. T. Rogers, J. J. Hobbs,
Robert L. Parrish, L. T. Dickey, J. B. Pitzer, J. A. McClung,
Adams McAllister, Andrew Fudge, Jobn T. Mann, Absalom
Dresler, William Robinson, junior, Samuel Carpenter, Heze-
kiah Massey, Lewis Payne, George T. McClintic, Joseph T.
Fudge, J. R. England, and Williamson Biggs, or any five of
them; and at the Warm Springs, in the county of Bath,
under the direction of C. R. McDannald, M. Mustoe, C. H.
Payne, Samuel C. Tardy, J. C. Kincaid, W. H. Bryan, Robert
Jobnson, William M. McAllister, J. W. Warwick, W. S. Ham-
mond, Colonel William McClintic, J. H. Sherrard, J. W. Bon-
ner, A. G. McGuffin, senior, J. D. Hamilton, George 8S. Siveley,
John L. Eubank, J. Cleek, junior, H. C. Eubank, J. F. Brat-
ton, James McGuffin, A. M. McClintic, Joseph Baxter, A. H.
Sittlington, Thomas Wallace, W. S. McClintic, C. C. Fran-
cisco, A. G. Cleek, J. P. McDannald, John W. Stephenson,
William B. Bishop, James A. August, M. H. McClintic, W.
D. Ervin, Joseph B. Dickinson, J. W. Warren, and P. L. Yar-
borough, or any five of them; and at the town of Monterey,
in the county of Highland, under tbe direction of Adam
Stephenson, William Hevener, John W. Meyers, L. H. Ste-
phenson, C. P. Jones, Peter Kincaid, David Given, W. W.
Flemming, John Trimble, John T. Byrd, J. C. Mathency,
Harman Hiner, and Adam H. Flesher, or any five of them,
for the purpose of receiving subscriptions to an amount not
exceeding one hundred thousand dollars, in shares of fifty
dollars each, to constitute a joint capital stock for the pur-
pose of constructing and operating a narrow-gauge railroad
from the town of Covington, in the county of Alleghany, by
way of the Healing and Hot Springs, to the Warm Springs,
in the county of Bath, with the privilege of extending said
railroad, at the option of the company, by way of Monterey,
in the county of Highland, to the West Virginia line, in the
county of Pendleton.

2. Whenever ten thousand dollars of the amount aforesaid
shall have been subscribed, the subscribers shall be and con-
stitute a body politic and corporate, under the name and
style of The Warm Springs Valley Railroad Company, and,
as such, shall be entitled to all the rights and privileges con-
ferred by, and subject to all the regulations and restrictions
imposed upon, works of internal improvement by the laws
of Virginia, so far as the same are applicable and not incon-
sistent with this act.

3. It shall be lawful to receive subscriptions to the stock
of said company from any connecting railroad company, or
from any mining, manufacturing, or spring company in the
state of Virginia.

4. Subscriptions to the stock of said company may be
made by the counties of Alleghany, Bath, and Highland;
and the proper authorities of said counties, or either of them,
may cause a vote to be taken therein on the question of said
county subscription, in accordance with the general law
governing such elections, at such time as the local commis-
sioners of subscription named in the first section of this act
for each of said‘ counties respectively, or any five of them,
or the company, may ask such vote to be taken. The board
of supervisors of any county or counties voting such sub-
scription as aforesaid, shall make such subscriptions notwith-
standing that the amount so subscribed may require the
imposition of an annual tax in excess of twenty cents on
oue hundred dollars, to pay the interest on the amount so
subscribed, and to provide a sinking fund for the extinguish-
ment of the principal; and to this end, may issue bonds
bearing six per centum interest, of such denominations as
said authorities may determine.

5. It shall be lawful for said company to borrow money
for the construction or repair of its road, and to issue bonds
therefor to an amount not exceeding two thousand dollars
per mile for every mile of road, and to secure the said bonds

y mortgage upon its property and franchises.

6. It shall be lawful for the counties of Alleghany, Bath,
and Highland, or either of them, to guarantee the payment
of the bonds which may be issued under the next preceding
section, or any part thereof, or to guarantee the interest on
said bonds, or any part thereof, or to exchange their bonds
for the bonds so to be issued, or any part thereof, upon such
terms as may be agreed upon; but before any such guarantee
of said bonds or their interest, or any exchange of said
bonds, or any part thereof, is made, the sense of the qualified
voters of such county shall be taken, in the mode now pre-
scribed by law, on the question; and if a majority of the
qualified voters of such county and three-fifths of tHose
voting shall be in favor of such guarantee or exchange, and
if said majority shall include a majority of the votes cast by
the freeholders at such election, then said guarantee or
exchange sball be made by the board of supervisors of such
county, notwithstanding the same may require the imposi-
tion of an annual tax in excess of twenty cents on the one
hundred dollars to pay the interest on the amount so guaran-
teed or exchanged, and to provide a sinking fund for the
extinguishment of the principal; and to this end either of
said counties may issue bonds, bearing six per centum inter-
est, of such denominations as said authorities may determine.

7. It shall be lawful for suid company to lease its road to
any railroad company chartered by the state of Virginia.

8. The road herein authorized to be constructed, shall be
commenced within two years, and completed to the Warm
springs within five years after the passage of this act.

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