Chap. 324.—An ACT to extend the charter and franchises of the
Southern improvement company.

Approved March 1, 1888.

1. Be it enacted by the general assembly of Virginia, That
the Southern improvement company, a corporation created
and acquiring its franchises under certain acts of the said
general assembly, approved February fourteenth, eighteen
hundred and eighty-two, March thirtieth, eighteen hundred
and eighty-seven, and May fifth, eighteen hundred and eighty-
seven, be and the said company is hereby authorized to is-
sue, a8 preferred or guaranteed stock, so much of its capital
stock as its directors may from time to time determine upon;
and the directors may prescribe the terms and conditions
upon which any such preferred or guaranteed stock may be
issued, and how the same shall be disposed of. Said com-
pany may have its stock and bonds guaranteed by other cor-
porations, and may itself guarantee the stocks and securities
of other corporations. '

2. The said company may acquire and hold by purchase,
lease, or otherwise, and may, on their own behalf, and for and
on behalf of other corporations, conduct, manage, operate,
and maintain railroads and tramways; and may also sell,
lease, or otherwise dispose of any railroads and tramways
which it may own or acquire. And the said compeny may
unite and consolidate with any other corporation upon such
terms and conditions, and under such corporate name as may
be agreed upon by the stockholders of the two companies
respectively, in general meeting, without impairing any of
the rights and franchises of either of such companies; and
any such consolidation so made and entered into with any
other corporation, shall be in all respects, lawful, valid, and
binding. A counterpart of any such contract of consolida-
tion shall be filed in the office of the secretary of the com-
monwealth, and a copy thereof, certified by such secretary,
shall be evidence of the consolidation therein set forth, with-
out any proof of handwriting.

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