Chap. 325.—An ACT to authorize the Richmond and Alleghany Rail-
road Company to issue referred stock.

Approved March 7, 1884.

1. Be it enacted by the general assembly of Virginia, That
the Richmond and Alleghany railroad company may, when
authorized by a vote of two-thirds of the stockholders, at any
general or special mecting, issue preferred stock, in shares of
one hundred dollars cach, not to exceed five million dollars
in amount for the following purposes: First, for exchange
to the extent of four million dollars of said stock, at par, for
the second mortgage bonds of the company. Second, the re-
maining one million dollars of said stock to be disposed of at
not less than fifty dollars per share, the proceeds to be ap-
plied to the payment of the floating debt.

2. The said stock to be preferred as to dividends at the
rate of six per centum per annum, and whenever dividends
at the same rate have been declared and paid upon the com-
mon stock, the preferred and common stocks to share equally
any further dividends. The preferred and common stock to
have co-ordinate voting power.

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