Chap. 459.—An ACT to incorporate the Portsmouth and South Mills
railway company.

Approved March 5, 1888.

1. Be it enacted by the general assembly of Virginia, That
John T. West, F. M. Mullens, and William A. West, of Nor-
folk county; T. J. Barlow, John H. Hume, A. H. Lindsay,
and William H. Stewart, of Portsmouth city, their associates,
successors, and assigns, be and they are hereby declared a
body politic and corporate, by the name and style of the

{

Portsmoath and South Mills railway company, for the pur- |

pose of locating, constructing, equipping, maintaining, and
operating a railway from some suitable point on the Eliza-
beth river, at or near Portsmouth, in the county of Norfolk,
state of Virginia, to some suitable point at or near South
Mills in North Carolina.
2. Said company, may build its road by such route as it
. ~rAnole
may deem most advantageous and expedient, and shall have
the right to cross any navigable stream in its route: provided
a draw sufficient not to impede navigation is placed in its
bridges over such streams, and shall have the further right
to build branch tracks of twenty miles length through such
routes as said company may deem necessary for the success-
ful operation of its road.

3. Said company shall have (subject to the provisions of
section twenty-five, chapter fifty-six, Code of Virginia, eigh-
teen hundred and seventy-three,) the right to cross at grade
over or under, intersect, join, or unite its railway with any
other railway now built or constructed, or hereafter to be
built or constructed, at any point on its route upon the
grounds of such railway company, with necessary turnouts,
sidings, switches, and other conveniences in furtherance of
the object of its construction, the terms of said crossing to
be agreed upon by this company and the railway company
to be crossed.

4. The said Portsmouth and South Mills railway company
shall have perpetual succession and a common seal, which it
may renew or alter at pleasure, and it shall be entitled to alt
the rights’ and privileges conferred, and subject to all the
restrictions imposed by the laws of Virginia, as far as the
same are applicable and not inconsistent with this act.

5. It shall be lawful for said company to acquire in sub-

‘scription to the capital stock of said company, or by dona-
tion, money, land, or other damages, labor, work, material,
bonds, and other means available for that purpose; and to
receive subscriptions from individuals, other companies, asso-
ciations, or corporations: provided that corporations char-
tered under the laws of Virginia, and doing business within
the limits of this commonwealth, shall not 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: provided this section shall not be so con-
strued as to authorize said company to acquire, by purchase
or otherwise, in any county or corporation, more land than
is necessary for the operation of said company as a common
carrier.

6. It shall be lawful for any incorporated company to aid
in the construction of said railway, and for that purpose may
acquire the bonds of said company; and it may run, use, or
operate, by lease or otherwise, any railway or transportation
line upon such terms as may be agreed upon.

7. The capital stock of said company shall not be less
than one hundred thousand dollars, nor more than one mil-
lion dollars, divided into shares of one hundred dollars each.
In all meetings of the stockholders, each share shall be enti-
tled to one vote. Said company may, with the consent of a
majority of the stockholders, increase its capital stock, from
time to time, an amount necessary for constructing and ope-
rating such railway; such increase to be made at a regular
or called meeting for the purpose, and upon such notice as

marborgeny 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 interest at such rates per annum as the company
may determine. Said debentures may be expressed in dol-
lars or pounds sterling; and to secure the payment of such
loan or loans, said company may execute one or more mort-
gages or deeds of trust on the whole or any part of its prop-
erty, real, personal, and mixed, its charter rights, franchise,
and income.

9. 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
selected at a stockholders’ meeting; and such meeting shall
be held after such notice, as the said incorporators may deem

roper. The said incorporators may elect one of their num-

er chairman, who shall have all the powers and authority
of president of said company, and in all matters a majority
of said incorporators shall control.
_ 10. The said Portsmouth and South Mills railway com- |
pany shall commence work under this act within two years, |
and complete the same within five years from the passage of
this act, otherwise this act shall be null and void.

11. This charter shall, at all times hereafter, be subject to :
amendment or repeal at the pleasure of the general assem-
bly; and it is agreed that said corporation takes and accepts
this charter of incorporation upon the express understand-
ing 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.

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