Chap. 106.—An ACT to amend and re-enact an act approved March
10, 1884, entitled an act to amend an act approved January 18, 1884,
entitled an act to incorporate the Lynchburg, Halifax and North
Carolina Railroad Company.

Approved February 12, 1886.

1. Be iteenacted by the general assembly of Virginia, That
an act entitled an act to incorporate the Lynchburg, Halifax
and North Carolina Railroad Company, approved January the
eighteenth, eighteen hundred and eighty-four, be and the same
is hereby revived, amended and re-enacted so as to read as fol-
lows: ,

Be it enacted by the general assembly of Virginia, That
John D. Holt, Jacob H, Franklin, John W. Daniel, C. M.
Blackford; J. W. Watts, William H. Wingfield, J. R. Clark,
G. H. Nowlin, John A. Lee, James A. Ford, T. N. Davis, M.
H. Payne, Thomas Whitehead, R. W. Withers, Adam Clem-
ent, M. B. Haythe, J. H. Hobson, J. W. Clay, James Frank-
lin, Thomas Hubbard, J. M. Lawson, F. Saunders, Ed. Irvine,
Thos. T. Fauntleroy, W. D. Adams, C. E. Moorefield, S. H.
Hudnall, R. R. Noblin, John A. Phillips, S. C. Perrow, E. B.
Ballow, Henry Edmunds, W. J. Jordan, R. W. Watkins, H.
A. Edmondson, J. W Riely, N. T. Green, R. E. Jordan, W.
W. Coats, James T. Williams, William Hurt, John Baldwin,
J. W. Easley, W. E. Owens, Wood Bouldin, Jr., J. V. Brooks,
Thomas B. Clark and Paul C. Edmunds, or such of them as
may act, and such persons as may become associated with them
under the provisions of this act, shall be and are hereby made
a body politic and corporate, by the name and style of The
Lynchburg, Halifax and North Carolina Railroad Company,
and by that name shall have all the rights, powers and fran-
chises of other like corporations under the general laws of the
state; and shall have the right to locate, construct, equip and
maintain a standard or narrow-gauge railroad, from a point at
or near the city of Lynchburg, through the county of Camp-
bell, to Staunton river, crossing said river somewhere between
a point two miles above Pannell’s bridge and the line of the
county of Charlotte, near Red Hill; thence through the county
of Halifax, by Halifax court-house and South Boston, toa point
on the boundary line between the states of Virginia and North
Carolina, within the county of Halifax. |

2. The capital stock of said company shall not be less than
one hundred thousand or more than two million of dollars, to
be divided into shares of one hundred dollars each.

3. Within one year from the first of January, eighteen hun-
dred and eighty-six, the said corporators shall assemble in fhe
city of Lynchburg, upon the call of such of said corporators
as reside in the city of Lynchburg, and shall elect a president,
vice-president, and ten directors, in whom shall thereafter vest,
until they be superseded, as herein afterward provided, all the
powers, rights, privileges and franchises of said corporation,
and to whom shall attach all the powers, duties and obligations
of such officers in like corporations, and who shall perform, in
addition, the duties and trusts herein prescribed.

4. The call to be made by the said corporators residing in
the city of Lynchburg, shall be by notice, published once a
week for four successive weeks, in a newspaper published in
the city of Lynchburg, and another published in the county of
Halifax. At said meeting of corporators, one-third of the en-
tire number being present in person or by proxy, shall consti-
tute a quorum; and. when said corporators have elected a pre-
sident, vice-president and board of directors, as prescribed in
the last section, the functions and powers of said corporators
shall cease.

5. The board of directors, in which term is included the pre-
sident and vice-president, shall continue in office until super-
seded by the board for which provision is hereinafter made,
and it shall have power to prescribe rules and regulations for
its government, to fill vacancies, to delegate its powers to an
executive committee of its members, to select its officers and
its employees, and to do such other acts, and exercise such
other powers, as are usually vested in like bodies.

6. Immediately after its election, a meeting of said board
shall be called-by its president, and it shall forthwith take steps
to.open books of subscription to the capital stock of said com-
pany, at such places, under such supervision, and upon such
terms, as it may deem advisable.

7. As soon as one hundred thousand dollars, or more, has
been subscribed to the capital stock of said company, and as
much; as one-fifth of that sum has been paid, it shall be the
duty of said board to call a general meeting of the stockholders
of said company, to be held in the city of Lynchburg, upon
such day and at such place as it may designate; said call to be
published once a week, in a newspaper in the city of Lynch-
burg, and another in the county of Halifax.

8. The board of directors shall report their proceedings dur-
ing their term of office to this meeting of stockholders; and
said stockholders, at said meeting, shall elect a president, vice-
resident, and ten directors, who shall thereafter constitute the

ard of directors of said company, and shall hold office and

have the powers and duties of like boards, as prescribed by the
general laws of the state and the terms of this act.

9. The board of directors may, from time to time, fix the
amount of the capital stock of said company: provided it shall
be within the limits herein prescribed.

10. The said company shall have power to issue, from time
to time, and sell, for its purposes, coupon bonds, and to exe-
cute one or more mortgages on the whole or any part of its
property and franchises to secure the payment of the same.

11. The said company shall have power to enter into any
contract which may be agreed upon between it and any other
railroad company, by which it and-said other company may
unite or connect their respective lines.

12. The chief office of said company shall be in the city of
Lynchburg, and at least two-thirds of its board of directors
shall be citizens of the state of Virginia. 1

13. It shall be lawful for said company to receive subscrip-
tions to its capital from any city, county or town, upon its pro-
posed route, or from any railroad company with which it may
unite, or from any mining, manufacturing or other company
authorized by its charter so to subscribe; and subscriptions
may be received, payable in money, labor, land, timber, stone
or other property, material or supplies, and said company shall
have power to sell and convey the land so subscribed.

14. The city of Lynchburg, the counties of Campbell and
Halifax, and any incorporated town upon the proposed line of
the said railroad, may subscribe to the capital stock of said
company. The subscription by said city shall not be less than
two hundred thousand dollars, nor more than three hundred
thousand dollars. The subscription by each of said counties
shall not be less than one hundred thousand or more than two
hundred thousand dollars, and the subscription which may be
severally made by said towns shall be such as said towns may
determine. Said subscriptions of said city, counties and towns,
are authorized and empowered without regard to the limita-
tions of amount contained in the general law of the state as to
subscriptions by counties and municipal corporations to works
of internal improvement. Subscriptions by the said city, coun-
ties and towns, may be paid in bonds of said city, counties and
towns, respectively, at par. |

15. The question whether said city and counties shall sever-
ally subscribe to the capital stock of said company, shall be
submitted. by the council of said city, and the county court of
each of said counties, respectively, to the vote of the qualified
voters thereof, at such time as the board of directors of said
company may request: provided, said request be made within
two years after the organization of said company under the
third section of this charter... ce

16. The order making such submission to said voters shall,
in each case, designate the amount of the subscription which it
is proposed said city, or each of said couuties, shall severally
make to the stock of said company. The amounts respectively
named in said several orders of submission, shall be within the
limits, in each case, set forth in the fourteenth section of this
act; and said order shall severally set forth the days upon which
said election shall be held, and the terms and conditions upon
which said subscriptions shall be respectively made. In other
respects than those specifically provided for in this act, the elec-
tions shall each be held and conducted as provided in such
cases by the general laws of the state.

17. If, at the first submission to its qualified voters, said city,
or either of said counties, shall not subscribe the maximum
amount permitted to it by this act, then, at any time thereafter,
whether said two years have elapsed or not, there may be an-
other submission to the voters of said city, or said counties,
respectively, to decide whether there shall be a further subscrip-
tion to the eapital stock of said company: provided, that in no
case shall the total subscription of said city, or either of said
counties, exceed the maximum amount herein prescribed: and
provided further, that said second submission and election shall
be as herein prescribed for the first.

18. In making said submission, the council of said city may
attach to the subscription submitted, a condition that it shall
be void, unless the subscription voted on in one or both of the
said counties shall be adopted; and each of the courts of said
counties, in making the submission, may, in like manner, attach
a condition that the subscription shall be void unless the sub-
scription voted on by said city, or by one or both of said coun-
ties, shall be adopted.

19. If at such election three-fifths of the qualified voters who
may vote, and a majority of the freeholders who may vote,
shall vote in the affirmative, the vote of the city or county so
voting, shall be declared to be in favor of such subscription,
and such subscription shall be made; otherwise it shall be de-
clared to be in the negative, and such shall not be made.

20. An act entitled an act to amend an act, approved Janu-
ary eighteenth, eighteen hundred and eighty-four, entitled an
act to incorporate the Lynchburg, Halifax and North Carolina
railroad, approved March tenth, eighteen hundred and eighty-
four, and all other acts and parts of acts inconsistent herewith,
are hereby repealed. This charter is granted upon condition
that the said company, its successors or assigns, shall pay all
its state taxes in legal tender currency of the United States.
The general assembly reserves the right to repeal, alter or
amend this charter. The construction of this road shall be
commenced within two years and completed within ten years
from the passage of this act.

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