CHAP. 209.—An ACT to authorize the James River and Kanawha
Company to construct and maintain a railway, in whole or in part,
along its line, and to execute mortgages on its works, property and

franchises.
Approved March 6, 1880.

Whereas the James River and Kanawha company is now
proposing a settlement of its indebtedness with its creditors by
which it may be enabled to maintain its line of canal, and either
at once or gradually to convert the same into a railroad ; now,
therefore, for the purpose of facilitating such settlement with
its creditors and thereby enabling the company to maintain and
improve its line—

1. Be it enacted by the general assembly, That the James .
River and Kanawha company shall have authority to construct
a railway along its canal from Buchanan via Lynchburg to
Richmond, with a branch to Lexington, on or near any part of
he line of said canal, and to operate the same so that ifs line
nay be all rail or all canal, or part rail and part canal, or for
uny part of its line maybe both rail and canal; and provided,
shat if the railroad herein contemplated shall be constructed to
or below Columbia, in Fluvanna county, and if the canal from
Columbia, in Fluvanna county, to the first locks, above Still-
man’s mills, on the Rivanna river, shall be thereupon or there-
after discontinued, said James River and Kanawha company
shall, within ninety days after said discontinuance, build a
oranch of its road along the line of said Rivanna river from
Columbia to the locks aforesaid.

2. To enable said company to make such change or addition
to its works, and to effect a settlement with its creditors, it
shall have authority to borrow money and to secure the same
by mortgages on its works, property and franchises, or if it be
decided by the company to be expedient so to do, it may exe-
cute separate mortgages on separate divisions of its works and
property. And in the event that a mortgage is executed, con-
veying only a part of the works and property, all the franchises
attached to that part of the works and property of the company
so conveyed, under and by virtue of the charter of the company,
of the acts amending the same, and of this act, shall be con-
veyed by such mortgage, and in the event of sale under such
mortgage, such franchises shall pass to the purchaser at such
sale, and such purchaser shall be a corporation according to the
provisions of sections forty-four and forty-five of chapter sixty-
one of the Code of eighteen hundred and seventy-three.

3. The bonds given for the loans authorized by this act
shall bear a rate of interest not exceeding six per centum per
annum, and may be disposed of on such terms as the presi-
dent and directors of the company may from time to time pre-
scribe, and provided that any amount realized by a lien or
mortgage on the works, property and franchises of the said
James River and Kanawha company west of the main depot
and yards, to be established in the city of Lynchburg, shall be
used only in the construction of a railroad on that section of
the line, and any amount realized by a lien or mortgage on the
works, property and franchises of the said James River and
Kanawha company, and all revenue received by said company
in those portions or sections of their works east of said main
depot and yards at Lynchburg (after paying the interest on the
mortgage proposed to be given to settle or compromise the
present indebtedness of said James River and Kanawha com-
pany), shall be used only in the construction of a railroad
from Richmond to Lynchburg.

4, Each share of stock shall be entitled to one vote in all
subsequent meetings of the stockholders of said company ;
and all acts and parts of acts inconsistent with this section
are hereby repealed.

5. The said company shall, over its railway line, or part rail-
way and part canal, contemplated by this act, receive at any
station on its own line, or from any connecting line of trans-
portation, passengers and freight destined for any point on the
line of any railroad connecting at Lynchburg, and shall receive
from the same and deliver at any station on its own line, or to
any connecting line of transportation, passengers and freight,
in either case in the same manner and upon the like terms,
rates and conditions as the said company receives, transports
and delivers passengers and freight from or for any other trans-
portation line, or in conjunction therewith, or as the said com-
pany receives, transports, delivers and charges passengers and
freight passing over any part of its own line for the corre-
sponding distance: provided, that ne company shall be enti-
tled to the benefit of these provisions which does not accord to
said James River and Kanawha company the same privileges
and rights.

6. This act shall take effect only when the James River and
Kanawha company has accepted the same at a meeting of
stockholders at which the commonwealth of Virginia shall be
the owner of all the stock now owned by it, and at which its
proxies representing said stock, or a majority of them, shall
be present and shall vote.