CHAP. 320.—An ACT to incorporate the Newport News, Old Point
‘Comfort and Norfolk ferry company.

Approved February 22, 1890.

1. Be it enacted by the general assembly of Virginia,
That W. J. Nelms, W. A. Post, I. E. White, C. B. Orcutt,
and John G. Livezey, and their associates and successors,
are hereby created and constituted a body politic and cor-
porate by the name and style of the Newport News, Old
Point Comfort and Norfolk ferry company, for the pur-
pose of establishing and operating a steam ferry between
Newport News, Hampton, Old Point Comfort, Norfolk, and
Portsmouth, and intermediate points; and by that name
and style shall have perpetual succession, may sue and be
sued, contract and be contracted with, plead and be im-
pleaded, have a common seal, and change the same at
pleasure; and shall have all the rights and privileges of
a corporation, and be subject to all the rules, regulations,
and restrictions imposed by the code of Virginia relating to
joint stock companies, so far as they are applicable to and
not inconsistent witb the provisions of this act.

2. The said company shall have power to establish,
maintain, and operate a steam ferry between Newport
News, Hampton, Old Point Comfort, Norfolk, and Ports-
mouth, and intermediate points, but nothing in this act
shall be construed as authorizing said company to con-
struct, maintain, or operate by lease or otherwise, a ferry
between the cities of Norfolk and Portsmouth and the
town of Berkeley, or either of said points, in competition
with the ferry now in operation between said points: pro-
vided, that in running said ferry no ferriage shall be
charged between Norfolk, Portsmouth, and Berkeley, or
either of said points, for the transportation and ferriage
of persons, vehicles, cattle, and merchandise, and tocharge
tolls therefor, and to purchase or lease a steamboat or
steamboats and outfit, and to lease and own wharves for
its purpose and general regulations; and the said com-
pany shall have power to acquire real estate at such of its
landings by purchase, gift, or lease.

3. The capital stock of said company shall not be less
than ten thousand dollars nor more than one hundred
thousand dollars, divided into shares of one hundred
dollars each, and the capital stock shall be considered
personal property, and shall be transferable as may be
provided for by the by-laws, and each share shall entitle
the holder thereof to one vote in all meetings of the stock-
holders, to be given in person or by proxy; and for the
purpose of obtaining subscriptions to said capital stock
the said corporators may receive subscriptions to said
stock in money, and when ten thousand dollars shal] have
been received for stock the organization of said company
shall be deemed perfected; and thereupon the persons
named in the first section are hereby constituted directors
thereof till other directors shall have been elected; and
in case of the decease of one or more of said persons, or
of their refusal to act as directors, the remaining persons
shall have power to elect other directors in their stead for
the time being: provided, all directors shall be stock-
holders.

4. The principal office of said company shall be at New-
port News, Virginia.

5. The said company may by a two-third vote of the
board of directors issue bonds not exceeding two hundred
thousand dollars in amount, and secure the same by a
deed of trust or mortgage upon all or part of the property
and franchises of the company.

6. The officers of this company shall be five directors,
one of whom shall be president, one vice-president, one
secretary, and one treasurer. A bond, with approved se-
curity; in such sum as the board of directors shall pre-
scribe, shall be executed by the treasurer for the faithful
performance of his duties. A majority of the directors
shall constitute a quorum.

7. The said company shall pay all taxes and dues to
the commonwealth in lawful money of the United States
and not in coupons.

8. This charter is granted upon condition that within
two years from the passage of this act the said company
shall commence operations and continue the same there-
after without intermission, otherwise all rights hereunder
shall cease, determine, and be void.