CHAP. 300.—An ACT to incorporate the Norfolk and Portsmouth
Terminal Railway, Wharf and Warehouse Company.

Approved March 9, 1880.

1. Be it enacted by the general assembly of Virginia, That
W. W. Gwathmey, John B. Whitehead, George M. Bain, V. D.
Groner, James G. Bain, M. Umstadter, Henry L. Reynolds,
‘William H. Peters and their associates and successors be and
are hereby constituted and made a body corporate and politic
by the name and style of The Norfolk and Portsmouth Terminal
Railway, Wharf and Warehouse Company, and by that name
and style shall have all the rights and powers and privileges
conferred, and be subject to all the rules, regulations and re-
strictions imposed by the laws of the state applicable to such
corporations, not inconsistent with the provisions of this act.

2. The capital stock of said company shall be not less than
five hundred thousand nor more than five million dollars, di-
vided into shares of one hundred dollars each, and for the pur-
pose of obtaining subscriptions to said capital stock, any three
of the persons named in the foregoing section may open books
of subscription at such times and places as they may appoint.

3. The annual meetings of the stockholders of said company
shall be held at the city of Norfolk on the Thursday after the
first Monday in September of each year, or on such other day
as the stockholders in general meeting may appoint, and in all
meetings of stockholders subscribers who have paid all calls
on their stock theretofore made, shall be entitled to one vote
for each share of stock held by such subscriber, which vote
may be cast in person or by proxy.

4, The said Norfolk and Portsmouth Terminal Railway,
Wharf and Warehouse company is hereby authorized and em-
powered to locate, construct, equip and operate a railway with
all necessary tracks, sidings and branches (the latter not to
exceed fifteen miles in length each) from a point on the Atlan-
tic, Mississippi and Ohio railroad, east of the town of Suffolk,
to any point or points at or near the harbor of Norfolk, or at
tide-water on any branches of the Elizabeth river, and for that
purpose may acquire title in the mode prescribed by law toa
continuous line of one hundred feet in width of land, and such
additional lands as may be necessary for the use of the said
road and for the buildings and works of said company.

5. The said company is also authorized to construct at such
terminus as it may select, at or near the city of Norfolk or at
tide-water on any of the branches of the Elizabeth river,
wharves, piers, docks, basins, warehouses, elevators and cotton
presses suitable for the accommodation of steamships, vessels
and boats, and for the convenient loading, unloading, shipping,
receiving and storing all kinds of merchandise and personal
property ; and said company may conduct a general dock,
wharf and lighterage business, and may acquire, by lease or
purchase, such real and personal estate as it may deem neces-
sary or convenient for its purposes, and may build, purchase
or hire lighters, boats and vessels and other appliances used in
the business. It may receive on storage or deposit all kinds of.
merchandise and property for safe-keeping, and may conduct
any business usually transacted by warehousemen, wharfingers
and lightermen, and may charge and collect compensation for
storage, dockage, wharfage and lighterage, and for all labor
incident thereto, including the expense of weighing, insuring,
keeping and delivering such merchandise or personal property
Preferred lien tween it and its customers or their agents, and for any advances
made by it on merchandise or property stored or deposited
with it for shipment, and for all its charges and expenses inci-
dent thereto, said company shall have a preferred lien on said
merchandise or property, which shall be paid before said com.
pany can be required to deliver the same.

Powertocon- 6, The said company shall have power to unite, consolidate

Solidate with or connect its railway with any other line of railway con-
structed or which may be constructed in this state, upon such
terms as may be agreed upon between it and such other rail-

May lease, &c., Way company; and for this purpose power is hereby granted

otherroads to it, and to any railway company incorporated by this state,
to make and carry out such contracts, by lease, purchase or
otherwise, as will facilitate and consummate such connection
or consolidation.

Connecting 7. Any railway, steamship or navigation company with which

roads mio Said Norfolk and Portsmouth Terminal Railway, Wharf and

capital stock Warehouse company may connect is hereby authorized to sub-
scribe to the capital stock of this company, and as to the stocks
so subscribed shall have the same privileges and powers and
be subject to the same conditions and regulations as other
stockholders therein.

Cityof Norfolk 8. The city of Norfolk is hereby authorized to subscribe to

empowered to the capital stock of said company for such amount, not. exceed-

capital steck, ing one hundred thousand dollars, as the council of said city
ondstherefor may determine, and for that purpose may issue the bonds of
the said city to the amount of said subscription; said bonds
to be used and taken at par in paying for the capital stock so

Subscription subscribed, and for no other purpose whatever, and the amount

re ororeity Of bonds issued for said subscription shall not be taken into

debt account in estimating the indebtedness of the city of Norfolk

Proviso as prescribed and limited by its present charter: provided,
however, that no bonds hereby authorized shall be issued until
the sense of the qualified voters of said.city shall have been
taken upon the question in conformity with the provisions of
the city charter and the laws of the state, nor unless it shall
appear that a majority of the qualified voters of said city have
voted in favor of the proposition.

City of Peters. 9. The city of Portsmouth is hereby authorized to subscribe

burg author- to the capital stock of said company for such amount, not ex-

scribe to capi- ceeding one hundred thousand dollars, as the council of said
ial Btocw and city may determine, and for that purpose may issue the bonds
therefor, but of the said city to the amount of said subscription ; said bonds
countedas. to be used and taken at par in paying for the capital stock so
pany of city subscribed, and for no other purpose whatever, and the amount

of bonds issued fur said subscription shall not be taken into

account in estimating the indebtedness of the city of Ports-

Proviso mouth as prescribed and limited by its present charter: pro-
appear that a majority of the qualified voters of said city have
voted in favor of the proposition.

10. Said Norfolk and Portsmouth Terminal Railway, Wharf
and Warehouse company is hereby authorized to subscribe to
the capital stock of any railroad company chartered by this
state or by North Carolina, Tennessee, Kentucky, Georgia,
Alabama, or Mississippi, which may have been constructed or
may be hereafter constructed. It is also authorized to acquire,
by purchase or otherwise, stock or bonds of any such railroad
company.

11. The Norfolk and Portsmouth Terminal Railway, Wharf
and Warehouse company is also authorized, from time to time,
to borrow such sums of money as may be necessary for its
purposes; and for such loans to issue its bonds bearing inter-
est at arate not exceeding seven per centum per annum, to
sell, exchange and hypothecate said bonds on such terms as it
may deem advisable, and to secure the payment of said bonds
and the interest thereon by deed of trust or mortgage conveys
ing its property and franchises in whole or in part.

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