Chap. 185.—An ACT to incorporate the Virginia Mineral-Belt Rail-
road Company.

Approved February 20, 1886.

1. Be it enacted by the general assembly of Virginia, That
John G. Bohannan, F. N. Fleming, J. J. A. Powell, Thomas S.
Taliaferro and W. E. Bibb, their associates, successors and as-
signs, he and they are hereby made and declared a body politic
and corporate, by the name of the Virginia Mineral-Belt rail-
road company, for the purpose of locating, constructing, equip-
ping, maintaining and operating a railroad from some suitable
point between the mouths of the Rappahannock and York
rivers, running through the counties of Mathews, Gloucester,
King and Queen, King William and Caroline, and on either
side of the North Anna river, through the counties of Hanover
and Spotsylvania, to a point in Louisa county north of Tolers-
ville, and then through Louisa, Goochland and Fluvanna
counties, to a point on the James river at or near Columbia or
New Canton.

2. Said company may build its road by such route as it may
deem most advantageous and expedient, and shall have the
right to cross any navigable stream or canal in its route: pro-
vided, a draw sufficient not to impede navigation is placed in
its bridges over such streams or canals.

3. Said company shall have the right to cross at grade, over
or under, intersect, join or unite its railroad with any other
railroad now built or constructed, or hereafter to be built or
constructed, at any point in its route upon the grounds of such
railroad company, with the necessary turnouts, sidings, switches
and other conveniences, in furtherance of the object of its con-
struction.

4. The said Virginia Mineral-Belt railroad company shall
have perpetual succession, and a common seal, which it may
renew or alter at pleasure, and it shall be entitled to all the
rights and privileges conferred, and subject to all the restric-
tions imposed by the laws of Virginia, so far as the same are
applicable, and not inconsistent with this act. ,

5. It shall be lawful for said company to acquire, in subscrip-
tion to the capital stock of said company, or by donation,
money, lands, Jand or other damages, labor, work, material
bonds, or other means available for their purpose, and to re-
ceive subscriptions from individuals, other companies, associa-
tions or corporations authorized by their charter so to do:
provided, that corporations chartered under the laws of Vir-
ginia, and doing business within the limits of this common-
wealth, shall be allowed to make such subscriptions; and the
said company may sell, lease, or otherwise dispose of, any
lands or properties acquired under this section.

6. It shall be lawful for any incorporated company to aid in
the construction of said railroad, and for that purpose may ac-
quire the bonds of said company, and it may run, use or ope-
rate, by lease or otherwise, any railroad .or transportation line
upon such terms as may be agreed upon.

7. The capital stock of the said company shall be one million
dollars, divided into shares of one hundred dollars each. In
all meetings of the stockholders, each share shall be entitled to
one vote. Said company may, with the consent of a majority
of its stockholders, increase its capital stock, from time to time,
to an amount necessary for constructing and operating said
railroad, such increase to be made at a regular called meeting
for the purpose, and upon such notice as may be necessary
and proper. — ;

8. Said company shall have power to borrow money to such
an amount as it may deem proper and necessary, and to issue
for any loan debentures or bonds of the company, bearing in-
terest at such rates per annum as the company may determine.
Said debentures may be expressed in dollars or pounds sterling,
and to secure payment of such loan or loans, said company
may execute one or more mortgages or deeds of trust on the
whole or any part of its property, real, personal and mixed,
its charter rights, franchises and income.

g. The corporators herein mentioned, and those that may be
associated with them, shall have the power and authority of a
president and board of directors, for the purpose of organiza-
tion of said company, and for all other purposes, until a presi-
dent and board of directors shall be selected at a stockholders’
meeting, and such meeting shall be held after such notice as
the said incorporators may deem proper. The said corpora-
tors may elect one of their number chairman, who shall have
all the power and authority of president of said company, and
in all matters a majority of said incorporators shall control.

10. This charter shall, at all times hereafter, be subject to
amendment or repeal at the pleasure of the general assembly;
and it is agreed that said corporation takes this charter of in-
corporation upon the express understanding and condition,
that the said corporation will pay all taxes, dues and demands
due the state at any time hereafter in lawful money of the
United. States, and will not tender or pay coupons therefor.
11. The said Virginia Mineral-Belt railroad company shall
commence work under this bill within two years, and complete
the same within ten years from the passage of this act; other-
wise this act shall be null and void. |

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