An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1889/1890 Private Laws |
---|---|
Law Number | 410 |
Subjects |
Law Body
Chap. 410.—An ACT to incorporate the Richmond, Manchester
and Petersburg electric railway company.
Approved March 3, 1890.
1. Be it enacted by the general assembly of Virginia,
That Augustine Royall, M. A. Cogbill, T. J. Cheatham,
Leonidas Wells, William M. Robinson, William I. Clop-
ton, A. J. Bradley, H. C. Beattie, George E. Gary, James
F. Bradley, E. W. Weisiger, A. L. Adamson, W. W. Baker,
Ben. P. Owen, junior, R B. Taylor, George Mason, R. W.
Traylor, Edward P. Rose, C. H. Cuykendall, J. J. Quantz,
Pyle and De Haven, Ferdinand Schwenck, Ashton Starke,
L. T. Brown, W. L. Fleming, and Horace E. Grash, or such of
them as may accept the provisions of this act, their associ-
ates, successors and assigns, be, and the same are hereby, in-
corporated a body politic and corporate under the name and
style of the Richmond, Manchester and Petersburg electric
railway company, and as such are empowered to locate,
construct, equip and operate an electric railway commenc-
ing ata point in or near the city of Richmond or Man-
chester, and running through the streets of said cities or
either of them, and the county of Chesterfield, to a point
in or near the city of Petersburg, as may hereafter be de-
termined by the stockholders and directors of the Rich-
mond, Manchester and Petersburg electric railway com-
pany, provided the consent of the councils of said cities
shall be obtained for the use of said streets.
2. The said company shall have the right to acquire
lands along the route of said railway by donation, purchase
or in any other legal manner, not to exceed two thousand
acres, to use, sell or hold the same; and shall have the
further right, with the consent of the board of supervisors
of Chesterfield county, to use as a road-bed for said rail-
way a portion or side of the road known as the Manches-
ter and Petersburg turnpike, which portion of said turn-
pike shall be selected by the board of supervisors, or to
select any other route as to the stockholders and directors
of said company may seem advisable and which may here-
after be selected: provided, however, that said company
shall acquire lands on the James river, or east of the Man-
chester and Petersburg turnpike from Manchester to where
said turnpike crosses Kingsland creek and down said
creek to its mouth only by gift, purchase or contract and
not by condemnation, and then only in sufficient quantity
for actual occupation for railroad terminal uses.
3. The company may acquire by condemnation, accord-
ing to the laws of Virginia, the lands required for the
necessary stations, depots, and power plants for its opera-
tion, not to exceed two acres at any one point, and, should
it not use the turnpike as the road-bed, the right of way of
one hundred feet in width for its railway.
4, Said company shall have the right to build bridges
over the James river, Appomattox river and intermediate
streams which may be necessary for ity railway, and may
acquire by condemnation or purchase the lands necessary
therefor, or to contract with corporations or managers of
bridges spanning said streams for the use of such bridges,
and with the consent of the city councils of Richmond,
Manchester, and Petersburg, may use such streets as may
be agreed upon by said councils.
5. The said company shall have the right to use dummy
engines and cars in lieu of electric cars at any time the
directors may deem it necessary or advisable to do so.
6. The said company shall have perpetual succession,
and have power to sue and be sued, plead and be im-
pleaded, defend and be defended in all courts, whether in
law or in equity, and may make and have a common geal,
and alter or renew the same at pleasure, and shall have,
possess and enjoy all the rights and privileges of a cor-
poration or body politic in the law and necessary for the
purposes of this act.
7. The capital stock of said company shall not be less
than one hundred thousand dollars, and may from time
to time be increased to any amount not exceeding five
millions of dollars, by issue and sale of shares, preferred
or common stock or both, upon such terms and conditions
and under such regulations as the board of directors shall
prescribe, the par value of which shall be one hundred
dollars; and the directors may receive cash, labor, mate-
rial, bonds, stocks, real or personal property in payment
of subscriptions to the capital stock at such valuation as
may be agreed upon between the directors and subscribers,
and may make such subscriptions payable in such man-
ner and amounts and at such times as may be agreed upon
with the subscribers; and whenever one hundred shares
shall have been subscribed and the sum of ten thousand
dollars paid in cash, the subscribers under the direction
of any five of the incorporators hereinbefore named, who
shall be subscribers, may organize said company by elect-
ing a president and board of directors and providing for
the selection of such other officers as may be necessary
for the control and management of the business and
affairs of the company; and shall have and exercise all
the powers and functions of a corporation under their
charter and the laws of the state.
8. It shall be lawful for said company to borrow money
and issue and sell its bonds from time to time for such
sums and on such terms as its board of directors may
deem expedient and proper for any of the purposes of the
company, and may secure the payment of said bonds by
mortgages or deeds of trust upon all or any portion of its
property, real, personal, or mixed, its contracts and privi-
leges, including 1ts franchise to be a corporation, and it
may, as the business of the company shall require, sell,
lease, convey, and encumber the same.
9. It shall be lawful for said company to subscribe to
and hold shares in the capital stock of any other railway
corporation whose lines may conneet therewith, and for
any other such corporation to subscribe to, guarantee, or
hold the stock or bonds of said company.
10. The company is authorized and empowered fo locate,
construct, equip, and operate any lateral or branch roads
or tramways which a majority of its stockholders may
determine upon, and by such route or routes as may be se-
lected by its board of directors; and said company may
connect or unite its road with that of any other company
or companies, or consolidate or merge its stock, property,
and franchises with and into any other company or com-
panies, operating or authorized to operate a connecting
railway or railways upon such terms and under such name
as may be agreed upon between the companies so uniting,
or connecting, merging, or consolidating; and for that
purpose power is hereby given to it, and to such other
company or companies to make and carry out such con-
tracts as will facilitate and consummate such connection,
merger, or consolidation, or any lease or sale: provided,
that a copy of every such contract of consolidation and
merger be filed in the office of the board of public works.
11. The said company shall be required to commence
the construction of its railway within one year from the
passage of this act, and to complete the same within three
years thereafter; otherwise the powers, privileges, and
franchises hereby granted shall be void.
12. The principal office of said company shall be lo-
cated in Richmond, Manchester, or Petersburg, as may
hereafter be determined upon by the stockholders in gen-
eral meeting assembled.
13. Each stockholder in the company shall, at all meet-
ings or elections, be entitled to one vote for each share of
stock registered in his name, and the president and board
of directors of said company may enact such by-laws,
rules, and regulations for the management of the affairs
of said company as they may deem proper and expedient.
14. The board of directors shall be stockholders of said
company, and shall consist of such number as the stock-
holders may determine upon, and shall be elected at the
stockholders’ annual meeting, to be held on such days as
may be named in the by-laws of the company, and shal]
continue in office for the term of one year from and after
the date of their election and until their successors shall
have been elected and accepted the duties of their office,
and they shall elect one of their number president; and
in case of the death, resignation, or incapacity of any
member of the board of directors during his term of office,
the said board shall elect his successor for the unexpired
term.
15. Any county, town, or city along the line or at the
termini of said railway may, pursuant to the general laws
of Virginia, subscribe to the capital stock of said railway
company, and the company is authorized to accept the
same.
16. Whenever the corporation shall exercise any of the
privileges conferred by this act, it shall be liable to the
same taxes as may be imposed by the Jaw upon other cor-
porations or persons exercising like privileges, and all
taxes due the commonwealth by said company shall be
paid in lawful money of the United States and not in
coupons.
17. This act shall be in force from its passage, but the
general assembly of the state of Virginia reserves to itself
the right to alter or repeal this act at any time hereafter.