Chap. 508.—An ACT to incorporate the Virginia Beach Canal Com-
pany.

Approved March 17, 1884.

1. Beit enacted by the general assembly of Virginia, That

‘Marshall Parks, Warren G. Elliott, H. W. Page, of the cit

of Norfolk, and F. M. Whitehurst, J. M. Keeling and John J.
Woodhouse, of the county of Princess Anne, are hereby ap-
pointed commissioners, any three of whom may act, to re-
ceive subscriptions to the capital stock of a joint stock com-
pany to be known as the Virginia Beach Canal Company.

2. The capital stock of said company shall not be less than
ten thousand dollars nor more than two hundred and fifty
thousand dollars, divided into shares of one hundred dollars
each, and in all meetings of the company each shareholder
shall be entitled to one vote for every share of the stock held
by such shareholder.

3. As soon as the minimum amount of the capital stock is
subscribed for, the subscribers, their associates, successors
and assigns, shall be a body politic and corporate under the
name of the Virginia Beach Canal Company, and shall have
all the general powers and be subject to all the general re-
strictions provided by the laws of this state in regard to in-
corporated companies.

4. The said company shall have the power to open and
construct a canal between the waters of Lynnhaven river,
or Lickhorn bay and Back bay, in the county of Princess
Anne, Virginia, and to that end may acquire land, not ex-
ceeding three hundred feet in width, in the manner pre-
scribed by chapter fifty-six of the Code of Virginia, edition
of eighteen hundred and seventy-three, by any route which
it may deem most practicable, and may deepen or alter the
course of any river, creck or bay with which it may connect,
and when tho said canal has been opened it may be used for
sanitary or commercial purposes, and such reasonable charges
and tolls as are deemed proper by the said company may be
charged and collected for its use; and it shall have all the
general powers, rights, privileges and franchises which are
now enjoyed by other similar works of internal improve-
ment in this state.

5. The Norfolk and Virginia Beach Railroad and Improve-
ment Company, or any other incorporated company in this
state, shall have the right to subscribe to and hold shares in
the capital stock of the said company.

6. The said company shall have the right to issue and sell
its bonds, either coupon or registered, to any amount not ex-
ceeding its capital stock, and to secure the payment of the
same by one or more mortgages on its property and fran-
chises.

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