Chap. 569.—An ACT to authorize the Vinton land, loan, and
building company to subscribe for, acquire, hold, and dispose
of stock and bonds of other corporations.

Approved March 4, 1800.

1. Be it enacted by the general assembly of Virginia,
That the Vinton land, loan, and building company be, and
the same is hereby, authorized to subscribe for, acquire,
hold, and dispose of the stock and bonds of other corpo-
rations. °

2. All taxes and assessments due, or to become due, to
the state of Virginia shall be paid in lawful money of
the United States and not in coupons.

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

CuaP. 570.—An ACT to incorporate the Northwest and South-
east railroad company.

Approved March 4, 1890.

1. Be it enacted by the general assembly of Virginia,
That it shall be lawful for the following named persons,
namely: George W. Palmer, D. P. Graham, J. Buchanan,
Charles F. Palmer, W. O. Moore, John Roper, John B. Bar-
rett, William Davis, W. O. B. Tilson, O. Barrett, Joseph
W. Caldwell, and John B. Barrett, junior, as commis-
sioners, any five of whom acting, to proceed to and effect
the organization of an incorporated company to be known
:nd entitled the Northwest and Southeast railroad com-
pany, which said company, upon the formation thereof in
Joe manner herein prescribed, shall be authorized to con-
truct, maintain, and operate a railroad from some point
yn the North Carolina line, in or west of Pittsylvania, in
ither of the counties of Patrick, Floyd, Grayson, or Car-

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roll, in a northwardly direction through either of the
counties of Tazewell or Buchanan to the West Virginia
line, in a northwesterly direction to the Kentucky line.

2. The capital stock of said Northwest and Southeast
railroad company shall not exceed seven million dollars,
to be divided into shares of one hundred dollars each,
each share subscribed to be entitled to one vote in all
meetings of said company, and twenty-five thousand dol-
lars shall be taken as a minimum subscription on which
said company may be organized.

3. That the commissioners aforesaid, or any five of
them, may proceed in such manner as they deem most
expedient, to obtain subscriptions to the capital stock of
said company, and it shall be lawful for any railroad com-
pany of the state of Virginia to subscribe to and hold
stock in the Northwest and Southeast railroad company,
if such company be so authorized by the charter. It shall
also be lawful for any of the counties through which said
railroad may be located, or into which any branch thereof
may extend, in their corporate capacities to subscribe
to the capital stock of said Northwest and Southeast
railroad company whenever such subscription shall be
authorized by a vote of the people of such county, as pro-
vided by the laws of the state of Virginia; and to make
payment of such subscriptions so authorized it shall be
lawful for the said counties to issue bonds and to secure
payment of interest and principal of the same by a spe-
cific tax upon such subjects as are taxable by the state of
Virginia sufficient to pay current interest thereon and to
provide a sinking fund adequate to the ultimate discharge
of the principal thereof at maturity.

4, The Northwest and Southeast railroad company shall
have the privilege of constructing, maintaining and ope-
rating such branch roads as may be necessary as limited
by statute, to bring out coal, iron, and other ores, timber
and agricultural products, plaster, salt, and all other
minerals from the counties of Pittsylvania, Henry, Frank-
lin, Floyd, Carroll, Patrick, Grayson, Wythe, Smyth,
Washington, Scott, Lee, Buchanan, Russell, Tazewell, and
Bland, and shall be entitled to all the privileges and
rights conferred by the laws of Virginia upon railroad
corporations, and as such shall have perpetual succession.

5. The president and board of directors of said com-
pany shall be elected 1n such manner and for such terms
of office, and the number of directors shall be such as the
stockholders may prescribe, and said company shall
always have their principal office in Virginia: provided,
however, that all meetings of stockholders shall be held
in Virginia.

6. It shall be lawful for the Northwest and Southeast
railroad company to issue bonds for an amount not ex-
ceeding twenty-five thousand dollars per mile of single
track, and to secure payments of the interest and princi-
pal of the same by a mortgage upon the property, fran-
chises, and so forth.

7. Subscriptions to the capital stock of said company
may be made in money, materials or lands: provided, that
the amount of land so held at any one time shall not ex-
ceed two hundred thousand acres; and provided, such
lands shall not be held by said company for a longer time
than ten years.

8. Work on the Northwest and Southeast railroad shall
be commenced within two years and completed within
ten years from the passage of this act, else this charter
shall be void.

9. This act shall be in force from its passage; but the
general assembly reserves the right to amend, alter, or
repeal this charter.

10. All taxes of said company shall be paid in lawful
money of the United States.

CHAP 571.—An ACT to amend and re-enact section 2 of an act
approved March 17, 1884, entitled an act to change the name of
the town of Gish’s, in the county of Roanoke, to Vinton, and
to incorporate the same.

Approved March 4, 1890

1. Be it enacted by the general assembly of Virginia,
That section two of an act approved March seventeenth,
eighteen hundred and eighty-four, entitled an act to change
the name of the town of Gish’s, in the county of Roanoke, to
Vinton, and to incorporate the same, be amended and re-
enacted so as to read as follows:

§2. The boundaries of said town shall be: Beginning
on the northwest line of said town at two sassafras trees
by the road through J. W. Vinyard’s land, which is at
present the corporate line of said town; thence westerly
a straight line to the corner of J. W. Vinyard’s and Mid-
way land company’s lands; thence with the northern
boundary of said company’s lands and through the lands
of the Roanoke land and improvement company a straight
line to the centre of Tinker creek, a little distance above the
Crozer furnace; thence with the centre of said creek south,
southeast and east to where a large branch comes into said
creek from the lands of the Glade creek company; thence
following said branch northeast to the line of N. J. Vin-
yard’s land; thence with said Vinyard’s line to the sum-
mit of the hill near an old house; thence across a corner
of said Vinyard’s land (a new line) till the straight line
strikes said Vinyard’s line again, and continuing along
said Vinyard’s line till it strikes the Pedigo addition to
the town of Vinton; thence with the line of said addition,
and including the same, to a corner to the lands of Pedigo
and Preston, near the brick-yard; thence a straight line
to the mouth of Preston’s lane, on the Bedford road; thence
a straight line to the corner of Routt’s land, at the mouth
of Ruddell’s lane; thence northwest with said road to its
intersection with the Bonsack’s road; thence a straight
line to the beginning: provided, however, that should the
said town of Vinton be relieved at any time from the pay-
ment of county levies the lands taken in by reason of the
extension of the corporate limits under this act shall not
be exempt from liability to pro rata taxation for the pay-
ment of a subscription of two hundred thousand dollars,
or any part thereof, made by the county of Roanoke to the
Valley railroad company, and a debt of nine thousand
dollars due by the county, which lands were outside the
corporate limits of said town, and were liable to such tax-
ation at the time the said subscription was made.
2. This act shall be in force from its passage.