CHaP. 322.—An ACT to incorporate the Atlantic Improvement Com-
pany.

Approved March 7, 1884.

1. Be itenacted by the general assembly of Virginia, That
L. R. Watts, J. H. Gayle, W. H. Taylor, J. L. Minnis, Louis
McLane, Charles Poe, and James Moore, and their associates
and successors, be and they are hereby constituted and made a
body corporate and politic by thename and style of the Atlantic
Improvement Company, and by that name and style shall
have all the rights and powers and privileges conferred, and
be subject to all the provisions of chapters fitty-six, fifty-
seven and sixty-one of the Code of cighteen hundred and
seventy-three, so far as the same my be applicable toand are
not inconsistent with the provisions of this act.

2. The capital stock of said company shall not be less than
one hundred thousand dollars, divided into shares of one
hundred dollars, but the same may be increased trom time to
time to an amount not exceeding one million dollars, and
issued at such price as the board of directors may determine;
and for the purpose of obtaining subscriptions to said capital
stock, any three of the persons named in the foregoing sec-
tion may open books of subscription at such times and places
an they may appoint.

3. The annual meetings of the stockholders of said com-
pany shall be held at the city of Portsmouth on such day as
the stockholders in general meeting may appoint, and in all
meetings of stockholders, subscribers who have paid all ealls
on their stock theretofure 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 company is hereby authorized and empowered
to erect and construct, at or near the city of Portsmouth or
Norfolk, wharves, piers, docks, basins, varechouses, elevators,
cotton presses, suitable for the accommodation of steamships,
vessels and boats, and for the convenient loading, unloading,
shipping, receiving and storing of all kinds of ‘merchandise
and personal property for safe Keuping, and may conduct the
business usually transacted by warehousemen, wharfingers
and lightermen, and may charge and collect compensation for
the storage, dockage. whartase and lighterage, and for all
labor incident thereto, including the expense of weighing,
suring, keeping and delivering such merchandise or per-
sonal property at such rates and on such terms as may be
agreed upon between it and its customers, and for any advan-
ces made by it on any merchandise or property stored or
deposited with it for shipment, and for all its charges and
expenses incident thereto, the said company shall bave the
same lien on said merchandise and property which is now
conferred upon common carriers and warchousemen.
3. That for convenience of access to such improvement, the
said company shall also have authority to construct, equip
and operate one or more railways, with all necessary sidings
and branches, trom any of said structures to such point or
points of convenient connection with each or any line of rail-
way terminating either at or near the city of Portsmouth or
Norfolk, Virginia, as the said company shall determine; but
said company shall not construct a railroad more than fifteen
miles in length, and for that purpose may acquire title in the
mode prescribed by law, to a continuous line of one hundred
feet in width of land, and such additional lands as may be
necessary for the use of said roads and tracks, and for the
buildings and works of said company.

6. The said company shall have power to unite, consoli-
date, or connect with any other one line of railway con-
structed, or which is in prospect of construction to the port
of Norfolk or Portsmouth, or some point on deep water near
them, upon such terms as may be agreed upon between it
and such other railroad company, and for this purpose, power
is hereby granted to it, and to any railroad company incor-

orated by this state, to make and carry out such contracts,
by lease, purchase or otherwise, as will facilitate and con-
summate such conviction or consolidation.

7. Any railway, steamship, or navigation company incor-
porated by the laws of this or any other state, is hereby
authorized to acquire by subscription, purchase, or other-
wise, any portion of the capital stock or bonds of this com-
pany, and this company may, in like manner acquire by sub-
scription, purchase or otherwise, any portion of the capital
stock or bonds of any railway, steamship, or navigation com-
pany incorporated by the laws of this or any other state.

8. The said Atlantic improvement company is also autho-
rized, 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 interest at a rate 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 conveying its property and franchises,
in whole or in part.

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