Chap. 201.—An ACT to incorporate the Danville, Wytheville, and
Southwestern construction company.

Approved May 12, 1887.

1. Be it enacted by the general assembly of Virginia, That
C. G. Holland, J. D. Blair, J. F. Rison, KB. F. Acree, W.N.
Ruffin, M. P. Jordan, A. S. Buford, J. Wilcox Brown, Wn.
Diffendal, C. H. Conrad, B. B. Gordan, D. W. Thom, their
associates, assigns and successors, are hereby incorporated
and constituted a body politic and corporate of this State,
under the name and style of the Danville, Wytheville, and
Southwestern construction company.

2. That said company is hereby authorized and empowered
to construct, improve, and equip railroads, bridges, tunnels,
depots, section houses, and other structures proper to the use
and operation of railroads; to contract with any railroad
company or companies heretofore incorporated or hereafter
to be incorporated; to construct, improve, and equip rail-
roads, bridges, tunnels, depots, section bouses, and_ other
structures proper to the use and operation of railroads, and
o take and receive in payment therefor shares of the capital
tock of such company or companies, bonds secured by mort-
rage or otherwise, that may be issued by such company or
‘Om panies, and any other bonds or sccuritics, real and per-
onal property, moneys, and valuable considerations, which
uch railroad company shall have tho right lawfully to dis-
rose of, and as shall be agreed between the contracting par-
les; and to. bargain, sell. use, or otherwise dispose of the
ame as it may deem ‘best for its interests.

3. The said company may commence operations as soon as
yne bundred thousand dollars of capital stock may have been
subscribed for, and certificates therefor, in shares of one hun-
dred dollars each, issued under such regulations as the board
of directors may prescribe; which capital stock may from
ime to time be increased by the board of directors to an
amount not exceeding five hundred thousand dollars, without
the unanimous consent of the stockholders in general meet-
ng, and with such consent the capital stock may be increased
to a sum not exceeding two million five hundred thousand
dollars.

4. The said company shall have the power to borrow
moncy and secure the saine by mortgage on its tranchises
and property or any part thereof. .

5. Said company shall have all the general powers con-
ferred upon chartered companies by chapter fifty-seven of tho
Code of Virginia of eighteen hundred and seventy-three, and
shall be subject to all its provisions, except as far as the same
are modified by or inconsistent with this act.

6. The corporators named in the first section of this act
shall constitute the board of directors for the first: year, or
until otherwise constituted or appointed by the stockholders
at any general mecting of the company; one of whom shall
be chosen by them as president of the board and of the com-
pany, but the board of directors may at any time fill a va-
cancy in its own body or in the office of the president,
whether such vacancy occur by death, resignation or other-
wise. |

7. The board of directors may mect as soon as practica-
ble after the passage of this act, and if at such mecting the
minimum capital stock of one hundred thousand dollars shall
bo subscribed, the company shall thereupon be deemed or-
ganized, and the board shall proceed to adopt by-laws for the
conduct of the company, appoint such officers as may be
necessary, and take such further action as the interest of
the company require. The by-laws shall prescribe the time
and place of holding the annual meeting of stockholders, as
well as the notice of such meetings, and “the manner of serv-
ing the same. But the by-laws may at any time be changed
by the board of directors or any general, meeting of the
stockholders.

8. This charter shall be subject to amendment or repeal at
any time by the general assembly; and all taxes, dues, or
demands due or to become due by this company to the State
of Virginia, shall be paid in lawful currency of the United
States and not in coupons.
9. This act shall be in force from its passage.