Chap. 117.—An ACT to authorize the issue of bonds and stock by the
Chesapeake and Ohio railway company.

Approved February 13, 1888.

1. Be it enacted by the general assembly of Virginia, That
the Chesapeake and Ohio railway company, or the purchas-
ers of the property and franchises thereof under foreclosure,
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, classes of preferred, common and other stock in
shares of one hundred dollars each, to such amount and in
such manner as may be requisite for the purpose of retiring,
adjusting, or paying the mortgage bonds and other indebted-
ness of the company, or for the purpose of carrying into effect

, any plan for the re-organization of said company, or the or-
ganization of its successor company. That all of said pre-
erred 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, and may have such other pre-
ferences, and may be divided into such classes, and be issued
for such purposes, as may be prescribed by the terms of any
agreement for the re-organization of said company, or the
organization of its successor company. ;

2. That for the purpose of carrying into effect any plan for
the re-organization of said company, or the organization of
its successor company, the Chesapeake and Ohio railway com-
pany, or its successor company, may acquire by purchase,
consolidation or construction western connections within or
without ee state, and bonds may he, issued, and a deed or

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deeds of trust on the property and franchises of the company,
wherever located, created to secure the same, on the terms
and for the purpose prescribed by said plan, and such bonds
may provide for the right on the part of the company, or on
the part of the bondholders, to convert the same into stock
of the company as may be agreed upon in such plan.

3. Should the said corporation avail itself of the provisions
of this act, it is agreed that it will always pay its taxes in’
lawful money of the United States, and not in coupons.

4. This act shall be in force from its passage. |