Chap. 13.—An ACT authorizing the Lynchburg and Durbam
railroad company to lease its railroad, property, and franchisee.

Approved December 19, 1889.

1. Be it enacted by the general assembly of Virginia.
That the Lynchburg and Durham railroad company, with
the authority or approval of a meeting of its stockholders.
may lease its railroad, property and franchises to any raul-
road operating or authorized to operate a connecting line
of railroad in North Carolina or Virginia, upon such terms
as may be agreed upon by the board of directors of the
company so contracting; and for that purpose, power is
hereby given to the Lynchburg and Durham railroad com-
pany and to such other railroad company, to make and
carry out such contracts as will facilitate or consummate
such lease: provided, however, that no power herein con-
tained shall authorize any lease to any company owning,
operating, or controlling a parallel or competing line.

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

CHaP. 14—An ACT to authorize the county of Powhatan to
change the form of the bonds subscribed to the Farmville and
Powhatan railroad company.

Approved December 19, 189.

Whereas the county of Powhatan has subscribed forty
thousand dollars to the capital stock of the Farmville and
Powhatan railroad company, and has paid such subscrip-
tion in conditional bonds, as authorized by an act of as-
sembly, approved February fifth, eighteen hundred and
eighty-six, entitled “ An act to authorize a subscription by
the counties of Cumberland and Powhatan to the stock of
the Farmville and Powhatan railroad company:” there-
fore,

1. Be it enacted by the general assembly of Virginia,
That on the completion of the Farmville and Powhatan
railroad, as proposed, across the said county, the said con-
ditional bonds issued by the said county in payment of ita
subscription aforesaid shall, in the discretion of the board
of supervisors of said county, be exchanged for and sub-
stituted by coupon bonds of said county, stating that the
sum due is for value received, aggregating an equal amount
with like conditions as to rate of interest, but said princi-
pal and interest to be made payable at the first national
bank, in the city of Richmond, Virginia.

2. This act shall be in force from the date of its passage.
CHaPp. 15.—An ACT authorizing the Lynchburg and Durham
railroad to modify, alter or amend the terms of the articles of
consolidation under which the said company was formed.

Approved December 1%, 1889.

1. Be it enacted by the general assembly of Virginia,
That the Lynchburg and Durham railroad company may,
from time to time, with the approval or authority of a ma-
jority of its stockholders, make any modifications, altera-
tions, or amendments deemed advisable in the terms of
the articles of consolidation under which the Lynchburg
and Durham railroad company was formed, and in so
doing the said company may, with such approval and au-
thority, establish its principal offices either in the state of
Virginia or North Carolina, or change the number or quali-
fications of its directors.

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

CHAP. 16——An ACT to incorporate the American tobacco
company.

Approved December 19, 1889.

1. Be it enacted by the general assembly of Virginia,
That Lewis Ginter, John Pope, Thomas F. Jeffries, Milton
Cayce, and James N. Boyd, their associates, successors
and assigns, are hereby constituted and declared to be a
body politic and corporate under the name of “the Ameri-
can tobacco company,” for the purpose of curing leaf
tobacco and of buying, manufacturing and selling tobacco
in all its forms in this state or elsewhere, or both, and of
establishing factories, agencies and depots for the sale and
distribution thereof in this and foreign countries, and of
transporting, or causing the same to be transported, as an
article of commerce in this and other states and countries,
and for such purposes the company shall have all the
rights, powers and privileges conferred upon corporations
by section one thousand and sixty-eight, chapter forty-six
of the code of this commonwealth, as such section now
exists, for the period of fifty years, and without amend-
ment or repeal hereof.

2. The capital stock of the company shall be one mil-
lion of dollars, and may be increased at the pleasure of
its stockholders, and may be issued in payment and as full
paid stock for real or personal property, or for cash or
other valuable consideration in such classes, in such form
upon such conditions, and with such voting power and of
such par value as may be prescribed by the ordinances.
by-laws and regulations of the company.

3. The company shall have the right to borrow monev.
to issue bonds and secure the same by mortgage or deed ot
trust on its corporate property and franchise; and also th
right to purchase, acquire and hold the stock and bonds ut
other corporations, foreign and domestic, and to vote uper
and to dispose of the same and to pay therefor in its stock.
as hereinbefore provided by section two of this act.

4. There shall be a board of directors of the company.
which shall] consist of not less than five members, all o1
whom shall be stockholders of the company, and one o!
their number shall be chosen as president, and the board
of directors is hereby empowered to make, alter, amen
and repeal such ordinances, by-laws and regulations as IL
their judgment they may deem neceasarv for the interni’
constitution of the company; the management and con-
duct of its business and affairs; the management and dis-
position of its stock and the price thereof; the meeting-
of its directors and stockholders and the quorums and re-
cords thereof; the election of its directors and officers, and
prescribing their official terms, duties and salaries: the
declaration of dividends and as to publication thereof:
the appointment and salaries of agents and emplovees and
for the execution of and carrying into etfect the powers ot
the company.

5. The principal office of the company shall be in the
city of Richmond, or at such place in the county of Hen-
rico as may be designated by the board of directors, bu'
offices may be established and meetings of directors and
stockholders may be held at such other places in or eut of
the state and at such times and upon euch notice as may be
prescribed by the ordinances, by-laws and regulations ot
the company.

6. All taxes, debts and demands due to the common-
wealth shall be paid only in lawful money of the United
States.

7. This act shall be in foree from its passage.