CHAP. 166.—Aun AC'l' to incorporate the Norfolk and Ocean View
Railroad and Hotel Compatuy.

Approved February 27, 1879

1. Be it enacted by the general assembly of Virginia, That
John B. Whitehead, C. W. Newton, R. B. Tunstall, H. M. Nash,
R. 8. Dodson, V. D. Groner, Joseph E. Barry, J. F. Collins, F.
©. Taylor, and Walter H. Taylor, or such of them as may ac-
cept the provisions of this act, and such persons and corpora-
tions as may become associated with them in the manner here-
inafter provided, shall be and they are hereby constituted a
body politic and corporate, by the name of The Norfolk and
Ocean View Railroad and Hotel Company; and by that name
shall have all the powers, rights, and franchises necessary and
proper to locate, construct, and maintain a railroad, of such
gauge as they may elect, from the city of Norfolk to Ocean
View, on Chesapeake bay; and the above-named corporators
are authorized, either in person or by agent or agents by them
appointed, to open books and receive subscriptions to the capi.
tal stock of said Norfolk and Ocean View railroad and _ hotel!
2. The capital stock of said company shall not exceed two
hundred thousand dollars, to be divided into shares of fifty
dollars each; and whenever one hundred shares have been sub-
scribed, the subscribers may organize the company by electing
a president and board of directors, and electing or appointing
such other officers as may be necessary for the management of
the affairs of the company; and thereupon they shall have and
exercise all the general powers and functions of a corporation,
and be subject to all restrictions imposed by the general laws
of the state applicable to internal improvement companies,
except the same be inconsistent wilh the provisions of this
act.

3. The capital stock of said company may be increased from
time to time by the board of directors to such amount as they
may deem necessary for the Interest of the company, not ex-
ceeding the maximum capital stock prescribed in this ‘act; and
the board of directors shall have power to borrow money and
to issue bonds therefor in such sums, payable at such times
and places, and bearing such rate of interest as may be deemed
most advantageous to said company; and may secure the same
by one or more mortgages on the road, franchises, income, and
the real and personal property of the company, Or such part or
all parts thereof as may be designated ia the mortgage or mort-

Ages.

4. It shall be lawful fer the said company to acquire in sub-
scriptions to its capital stock, or by donation or otherwise,
lands, property, materials, or labor, and to receive subscrip-
tions from other companies, associations, or corporations, and
to make such arrangements as shall be mutually agreed upon
by the respective boards of directors of such companies, asso-
clations, or corporations for the inducement of sale, exchange,
or consolidation of stock and lands as will facilitate a speedy
completion of said road. And the said company may sell,
lease, or otherwise dispose of any lands or other property ac-
quired uncer this section at their pleasure.

5. It shall be lawful for the Ocean View hotel company to
merge or consolidate its stock with that of the said Norfolk
and Ocean View railroad and hotel company, as provided in
the preceding section, or in such other way to subscribe or aid
toward the construction of said road as may be agreed upon by
the stockholders of said Ocean View hotel company.

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