Chap. 196.—An ACT to amend and re-enact sections 5 and 10 of an
act entitled an act to incorporate the Virginia and Kentucky rail-
road company, approved March 3, 1884, and to authorize the said
company to consolidate with, lease its lines to, or lease the lines of
any railroad connected with it.

Approved May 12, 1887.

1. Beit enacted by the general assembly of Virginia, That
the fifth and tenth sections of an act entitled an act to incor-
porate the Virginia and Kentucky railroad company, ap-
proved March third, eighteen hundred and eighty-four, be
amended and re-enacted so as to read as follows:

§5. That at any time after the passage of this act, any
three or more of the aforenamed corporators may open books
at such time and at such place or places as they may elect
for the purpose of securing and receiving subscriptions to the
capital stock of this company, and it shall be lawful to re-
ccive such subscriptions to said stock from any connecting
railroad company, or from any mining, manufacturing, or
real estate investment company, or from any county or coun-
ties in Virginia that may be interested in the construction of
said railroad; and the said company may receive subscrip-
tions to the capital stock or payment in part or in whole of
such subscriptions in any property, real or personal, and
upon such terms and at such rate‘and value as shall be
agreed upon by a majority of the stockholders ofthe com-
pany; and the said company may acquire by purchase or
grant, mineral or other lands at any point within twenty
miles of its line of road, or any of its connecting roads, and
may dispose of the same by deed, or may devolup and mine
the same.

§10. The said company may, from time to time, borrow
such sums of money as may be necessary for its purposes,
and to secure such loans may issue its bonds, bearing in-
terest ata rate not exceeding six per centum per annum,
and may sell, exchanve, and hypothecate said bonds on such
terms as its president and board of directors may deem ad-
visable, and may secure said bonds and the interest thereon
by deed or deeds of trust or mortgage conveying its prop-
erty ard franchises, in whole or in part: provided however,
that a lien of not more than forty thousand dollars per mile
of single track on its main line and branches shall be created
under the authority of this section; and said company may
and it is hereby authorized to consolidate its line with that
of any other connecting railroad company, or lease its lines
to or lease the lines of such connecting company whenever,
and upon such terms as a majority of its stockholders shall
approve; and to this end full power and authority is hereby
granted to such connecting road for that purpose: provided
this company shall always remain a Virginia corporation so
far as the right of suing and being sued is concerned. This
company sball not have the exclusive 1ight of any mountain
pass, run branch roads until the main line is completed, or
acquire rights of way for any branch road until the main
line is completed to a connection west of New river.

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