CHAP. 471.—An ACT to incorporate the Abingdon railway com-
pany.

Approved March 3, 1890.

1, Be it enacted by the general assembly of Virginia,
That G. V. Litchfield, James Greenway, James L. White,
William G. G. Lowery, T. P. Trigg, C. F. Trigg, R. M
Page, and F. T. Barr, and their associates and successors
be, and they are hereby, made a body politic and corpo.
rate under the name and style of the Abingdon street rail.
way company.

2. Be it further enacted, that said corporation, by said
name, shall have continuous succession, and in that name
may sue and be sued, plead and be impleaded unto in any
court of law and equity in this state, or elsewhere where
their rights may come in question; may have and use a
common seal, and the same use, review, and destroy at
pleasure; and may make, alter, and repeal such by-laws,
governing its own members, officers, attorneys, agents,
employees,-and persons dealing or having business with
it, as it considers proper, and are not in conflict with the
general laws of this state. And said corporation may ac-
quire, purchase, accept, hold, enjoy, and convey any prop-
erty, real, or personal, or mixed, that may be necessary or
profitable for the purposes of its incorporation, or which
it may acquire in the progress of its business. It shall
have power to fix its rates of toll for the transportation of
persons and property, and collect the same; and in gene-
ral shall have all such powers, privileges, rights, and fran-
chises as may be necessary to successfully accomplish and
carry on the purposes of its incorporation.

3. Be it further enacted, that said company shall have
power and authority to survey, lay out, construct, equip,
use, and employ a line of railway of such gauge as the com-
pany may determine, to be operated by horses or mules, or
any other motive power, except steam, with single or
double tracks, upon and over any of the streets of the
town of Abingdon on which the corporate authorities of
said town have heretofore granted, or may hereafter grant,
the right of way subject to such restrictions and limitations
as said town has made; and also upon and over the high-
way leading from said town, one mile east and west of the
corporate limits of said town: provided, the said company
shall keep the streets and highways between the rails and
for one foot on each side of the track in good repair.

4. Be it further enacted, that should it be necessary for
the successful carrying 9n of the business of said company
to condemn any land for these purposes, it shal] have the
right to enter, by its agents, and condemn any land needed
in the manner and under the regulations, conditions and
restrictions prescribed by law for the condemnation of
land for works of internal improvement.

5. Be it further enacted, that the capital stock of said
company shall be ten thousand dollars, divided into shares
of twenty-five dollars each; and said company shall have
power to igsue bonds to the amount of five thousand dol-
lars, and to pledge and bind, by mortgage or deed of trust
or otherwise, their corporate property and franchises, so
as to secure the payment of such bonds.

6. Be it further enacted, that the books of subscription
to the capital stock of said corporation may be opened
under the superintendence of the persons named in the
second section of this act, or with the consent of a ma-
jority of them, who shall be ex-officio directors until such
corporation 18 organized, which shall be dope within two
years after the passage of this act; such organization
shall be perfected as soon as the sum of two thousand
dollars shall have been subscribed to the capital stock.

7. Be it further enacted, that the corporate powers of
said company shall be vested in and exercised by a board
of directors, one of whom shall be president of the com-
pany, and by such other officers and agents as the board
may appoint. Said board of directors shall consist of not
more than seven stockholders, and the first board shall be
elected at such time and in such manner as the corpora-
tors, or a majority of them, may determine, and annually
thereafter by the stockholders of the company, each share
of twenty-five dollars being entitled to one vote. The by-
laws hereinbefore mentioned shall be drafted by the said
board, and certificates of stock shall be issued and trans-
ferable in such manner as they may determine.

8. Said street railroad company may carry upon and
over their line either passengers or freight, or both, as the
public wants and its interests may require. This act
shall be subject to repeal, alteration, or modification, at
the pleasure of the general assembly.

9. Said company shall pay its taxes to the state in
money and not in coupons.

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