Chap. 151.—An ACT to incorporate the North Amherst railroad com-
pany.

Approved February 18, 1888.

1. Beit enacted by the general assembly of Virginia, That
James M. Taliaferro, James W. Henley, Edward A. Burks,
Jesse E. Adams, Taylor Berry, W. T. Watson, Joseph H.
Massie, and W. B. Henley, of the county of Amherst, and
such persons and corporators as they may associate with
them, shall be and they are hereby constituted a body cor-
porate and politic by the name of the North Amherst railroad
company, and by that name shall have all the right, powers, :
privileges and franchises necessary and proper to locate, con-
struct, equip, and maintain a railroad, either a narrow or a
standard gauge, from some point on the Richmond and Alle- |
ghany railroad at or near the mouth of Tye river in Nelson '
county, to some point on the same railroad, at or near the
Rope ferry in the county of Amherst, through the counties of
Nelson and Amherst, passing near Sandidge’s mill and up |
Puppies creek in the county of Amherst.

2. Said company shall have perpetual succession and a:
common seal, which it may renew or alter at pleasure, and |
may sue and be sued, plead and be impleaded, contract and
be contracted with, and make ordinances, by-laws, and regu-.
lations not inconsistent with the provisions of this act and
the laws of this state for the government of its affairs and |
the proper conduct of its officers.

3. It shall be lawful for the said North Amherst railroad.
company to issue bonds for the construction of its road, and
to secure payment of the principal and interest of the same
by mortgage or deed of trust upon its property, franchises,
and so forth.

4. Subscriptions to the capital stock of said company may
be paid in money, materials, or lands. Said company may
also acquire lands by gift or purchase, and shall have power
to hold and sell the same: provided, that the amount of land
so held at any one time shall not exceed five thousand acres.

5. The capital stock of said company shall not be less than |
twenty thousand dollars nor more than five hundred thou-
sand dollars, to be divided into shares of one hundred dol-
lars each, and each share of stock shall be entitled to one
vote.

6. The corporators herein mentioned, shall have the power
and authority of a president and board of directors for the
purpose of organization of said company, and for all other
purposes until a president and board of directors shall be
elected at a stockholder’s meeting, and such meeting shall be
held ree such notice as the corporators may deem proper.

7. It shall be lawful for any three of the corporators herein
mentioned, after giving ten days notice in some newspaper
of general circulation published in Virginia, to open books of
subscription to the capital stock of said company, and when
the minimum of the capital stock of said company shall have
been subscribed, the said corporators may elect one of their
number chairman, who shall have the power and authority of
president of said company, and in all matters a majority of
the stockholders of said company shall control.

8. The said company shall have power to cross, unite,
consolidate, or connect with any line of railway constructed
or which may be constructed in this state.

9. This act is subject to modification, amendment, and
repeal at the pleasure of the general assembly of Virginia;
and this corporation agrees to pay all debts, dues, and de-
mands to the state of Virginia in lawful money of the United
States and not in coupons.

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