Chap. 89.—An ACT to anthorize the Richmond and Alleghany Rail-
road Company, or its successor company to issue preferred stock and
to facilitate the reorganization thereof.

Approved November 22, 1884.

1. Be it enacted by the general assembly of Virginia, That
the Richmond and Alleghany railroad company, or the pur-
chasers of the railroad of the said company, under foreclosure
or otherwise, whenever they shall have constituted and
named themselves a railroad corporation under the laws of
this state, may issue and create in addition to the stock
already created by said company, preferred stock, in shares
of one hundred dollars each, to an amount not exceeding five
million dollars, for the purpose of retiring, adjusting, or pay-
ing the second mortgage bonds, and other indebtedness of the
said company, or for the purpose of carrying into effect any
plan for the reorganization of the said company, or the
organization of its successor company.

2. The said preferred stock shall have co-ordinate or equal
voting power with the common stock, but may be preferred
to the common stock as to dividends at such a rate not exceed-
ing six per centum per annum, and may have such other
preferences, and may be divided into such classes as may be
prescribed by the terms of any agreement for the reorgani-
zation of the said company, or the organization of its succes-
sor company; such stock in other respects to be created
according to the provisions of sections forty-four and forty-
five of chapter sixty-one of the Code of Virginia.
3. The act approved March seventh, eighteen hundred and
eighty-four, entitled an act to authorize the Richmond and
Alleghany railroad company to issue preferred stock, is
hereby repealed.

- 4, This act shall be in force from its passage.