Chap. 40.—An ACT to incorporate the Falls Church and Potomac
railway company.

Approved January 24, 1888.

1. Be it enacted by the general assembly of Virginia, That
W. P. Graham, George B. Ives, N. F. Graham, Schuyler
Duryea, lsaac Crossmun, James M. Love, D. M. Chicester, O.
KE. Hine and Franklin Sherman, of Fairfax county; William
N. Febry, of Alexandria county, Virginia; Austin Herr,
George T. Dunlop and Arthur Cropley, of Georgetown, Dis-
trict of Columbia, and such other persons as may hereafter
be associated with them and their successors, are hereby con-
stituted a body, corporate and politic, to be known as the
Falls Church and Potomac railway company.

2. The capital stock thereof shall be twenty thousand dol-
lars, but the same may be increased, not to exceed one million
dollars, at thepleas f @lwajority of the holders of shares
representing a majority of the capital stock at the time such
meeting shall be held, and the majority of the whole issue of
stock be then present at such meeting. The capital stock
shall be in shares each of the par value of one hundred
dollars.

3. Whenever the sum of twenty thousand dollars shall be
subscribed to said capital stock of this company and two per
centum thereof paid upon each subscription in cash, lands,
property, or other thing of value, the subscribers to said
stock, who shall have made such or greater payment, shall
be stockholders in said company; then they shall meet in the
town of Falls Church, in Fairfax county, and organize this
company by electing from among the stockholders not less
than five nor more than nine persons, who shall be the board
of directors for and of this company; this board of directors
shall, from among their own number, select one of them to
be president of the company, and he shall also be president
of said board.

4, This corporation, through its board of directors, may
constitute sels offices as it sees fit, and may fill the same with
persons competent to discharge the duties appointed to be
performed, and it in like manner may appoint such agents,
attorneys, employees, servants and others as may by the
board be thought proper to carry on its affairs, purposes and
designs.

5. This company may receive from any person or corpora-
tion, voluntary donations of lands, bonds, stocks, money, or
other property or thing in aid of the construction and equip-
ment of its road,and may hold and useany such property as part
of its capital, and may sell, hypothecate or dispose of any real
or personal property it may acquire by deeds of conveyance,
mortgage, deed of trust, bill of sale or other form of convey-
ance or writing which the board of directors may direct to
be executed by the president and secretary: provided that
the right of way, road-bed and franchise shall not in any
manner be disposed of without the consent of a majority of
the stockholders.

6. It may also receive subscriptions to its capital stock in

‘real estate, labor, material, or property of any and every sort

from persons or individuals, towns, counties, or municipalities
within or without this state, and make such arrangements,
contracts and engagements as it may desire to effect or agree
upon, for, about, or touching the negotiation pledge, hypothe-
cation, sale, endorsement, purchase, exchange, or otherwise,
of any real or other property, right, franchise, or thing it
may own, possess, control, or have interest of any sort in, in
order to facilitate, complete and carry on its works and pur-
poses not inconsistent with the provisions in section five.

7. This company is hereby given power to locate, construct,
stock, equip, work and operate any wood or iron tramway or
railroad df any gauge the board of directors may elect or de-
termine, from a point at or near the Potomac river, in Alex-
andria county, opposite District of Columbia; thence through

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ssid county of Alexandria to or through the county of Fair-
fax and through the towns of Falls Church, Vienna, Fairfax
Courthouse, Great Falls of the Potomac, or to either or all
of said points, or to any other point or points in the counties
of Fairfax, Prince William, or Loudoun, that the board of
directors may deem advisable: provided that this act shall
not be construed to authorize the construction of a road to
Mount Vernon or upon the land owned by the Ladies’ Mount
Vernon Association.

8. Any county, municipality, or town, through or in which
the road of said company, or any branch thereof, may be |
located, may subscribe to the capital stock of said company
in the mode prescribed by law.

9. Said company shall have (subject to the general laws in |
force when the Code of eighteen hundred and eighty-seven |
goes into operation, not in conflict herewith) the right to
cross at grade over or under, intersect, join or unite its rail-
way with any other railway now built or constructed or here-
after to be built or constructed at any point on its route upon
the grounds of such railway company, with necessary turn-
outs, sidings, switches, and other conveniences in furtherance
of the ee of its construction. But the said railway com- |
pany shall not lay its tracks across the tracks of any other
railway company at grade, until the terms and plans of such
crossing have been agreed to by such other roads; and should
said railroads not be able to agree upon the terms and plans
of such crossing, the question shall be submitted to arbitra-
tion of persons, one selected by each party, and the arbitra-
tors failing to agree, they shall call in an umpire to decide
between them.

10. Whenever any part or portion of its line or road is:
built and ready, this company may equip and operate the
same as though the whole was completed, and it may provide
for transportation of passengers, freight, stock, and all other
things, and collect such charges and tolls therefor as are
proper or provided by law.

11. This company may issue shares of stock, and may from |
time to time declare such dividends thereon as may be in the
opinion of the directors wise and proper, and may direct that
tne same be paid in cash or in scrip, and to that end they
may issue scrip in payment thereof, redeemable as they may
determine. This company may issue bonds or other evidence
of indebtedness, bearing a rate of interest not in excess of six
per centum per annum, and secure the same by a-deed of
trust upon its real estate, properties, franchises, rights and
interests, and may negotiate and sell said bonds or evidence
of indebtedness, and it may sell the same for a less sum than
the face value thereof in order to raise money to carry on its
affairs and better its condition, and may make such terms and
arrangements concerning the payment of interest thereon,
and for use of moneys borrowed by it, as it may see fit.

12. This corporation shall be subject to the general pro-.
visions of the statutes in reference to chartered companies in
this state when not dd gondjet with this act.
13. This company shall make and use a common seal, and
shall have annual meetings of the stockholders, at which its
directors shall be elected, and such annual meetings shail
always be at the place where its central office, for the trans-
action of its general business is established, which shall be
within the state of Virginia.

14. This corporation shall begin operations and work upon
its road within two years from the date of the passage hereof,
and shall within five years thereafter have its road completed
and in operation from its starting point, as fixed herein, to at
least the town of Falls Church, in Virginia. If that be so
done within that time, then this act shall be forever opera-
tive: provided that after the completion of the said road
from the point of beginning to Falls Church, or Fairfax
Courthouse, it shall be optional with the said company in
regard to continuing the same to the other points named in
this charter: and provided further, that the failure to build
the same to Falls Church or Fairfax Courthouse shall in no-
wise affect this charter as applicable to. that portion con-
structed, but the same shall continue in force.

15. All taxes due the commonwealth by the said company
shall be paid in lawful money of the United States and not
in coupons.

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