CHAP. 13.—An ACT to incorporate the Marion and Rye Valley
railroad company.

Approved December 17, 1891.

1. Be it enacted by the general assembly of Virginia,
That Philip S. Swain, Charles T. Darling, Earle C. Bacon,
and J. V. A. Craighead, of the state of New York; John
S. Apperson, John P. Sheffey, W. C. Pendleton, H. B. Hall,
James T. Porter, A. M. Dickenson, B. F. Buchanan, G. D.
H. Killinger, Joseph Atkins, and George W. Richardson,
of Smyth county, Virginia, or such of them as may accept
the provisions of this act, their associates, successors and
assigns, be, and they are hereby, incorporated and made a
body politic and corporate under the name and style of
the Marion and Rye Valley railroad company, and by
that name shall be known in the law, and as such are author-
ized and empowered to locate, construct, stock, equip, work
and operate a line of railroad, commencing at Marion,
Smyth county, Virginia, or at some other point in said
county, on the line of the Norfolk and Western railroad,
and running thence southwardly to a point on the head
waters of either branch of Staley’s creek, and by such
route as may be deemed suitable by the board of directors ;
and said company may, in like manner, extend its line of.
railroad into Rye Valley, in said county, and through the
same in either direction to the county line by such route
or routes as may be determined upon by the board of
directors; and may also connect with any other line of
railroad either now or hereafter built, and operated either
in Smyth, Wythe, or adjacent counties, by extending its
line or lines in any direction, and by any route deemed
suitable by its board of directors.

2. The said company shall have perpetual succession,
and have power to sue and be sued, plead and be implead-
ed, defend and be defended in all courts, whether in law
or equity, and may make and have a comthon seal, and
alter or renew the same at pleasure, and shall have and
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.

3. The capital stock of said company shall not be less
than one hundred thousand dollars, and may, from time
to time, with the consent of a majority of its stockholders,
be increased to an amount not exceeding five hundred
thousand dollars, by issue and sale of shares, the par value
of which shall be not less than one hundred dollars, from
time to time, under such regulations as the board of di-
rectors of said company shall prescribe; and the directors
may receive cash, labor, material, real and personal prop-
erty suited to the business of the company, in payment of
subscriptions to the capital stock, at such valuations as
may be agreed upon between the directors and the sub-
scribers; and may make such subscriptions payable in
such manner or amounts, at such times as may be agreed
upon with the subscribers.

4. It shall be lawful for said company to acquire by
donation or purchase, land for right of way, depots, sta-
tions, and other purposes necessary for the successful
construction and operation of its road in any of the coun-
ties through which it is authorized to construct its line.

5. It shal] be lawful for said company to borrow money
or issue and sel] its bonds from time to time for such sums,
and on such terms as its board of directors may deem ex-
pedient and proper, and to secure the payment of said
bonds by mortgages or deeds of trust upon all or any por-
tion of its property, railroads and franchises.

6. It shall be lawful for said company to guarantee or
hold the stock or bonds of any mining, manufacturing or
other corporation of this state, and mining, manufactur-
ing or other corporations may guarantee or hold the stock
or bonds of the said company.

7. The said corporation is authorized and empowered,
by such route or routes as it may select, to locate, con-
struct, equip and operate lateral or branch roads, not to
exceed fifty miles in length, as may be necessary for the
accommodation of the public, and to bring out the iron ores
and other minerals and products in the county or counties
through which it may run, or to connect with any other
railroad that is now or hereafter may be constructed in or
to any of said counties.
8. The said company may acquire by condemnation.
according to the laws of Virginia, the lands required for
the right of way of its railroad, and the necessary sta-
tions and depots for its operation, and may connect and
unite its railroad with that of any other railroad com-
pany now or, hereafter constructed in or to any of the
counties hereinbefore mentioned, or consolidate or merge
its stock, property or franchises, with those of any com-
pany operating or authorized to operate a connecting line
of railroad not a competing line, upon such terms as may
be agreed upon by the board of directors of the compa-
nies so uniting 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 contracts as will
facilitate and consummate such connection, merger or con-
solidation: provided that a copy of every such contract,
consolidation and merger be filed in the office of the
board of public works.

9. The said company shall be required to commence
the construction of said railroad within two years from
the passage of this act, and to complete the construction
of the main line within five years thereafter, or otherwise
the powers, privileges, and franchises hereby granted
shall be annulled and become void.

10. The persons named in this act, or such of them as
shall accept the provisions thereof, shall have the powers
and authority of a president and board of directors for the
purpose of organizing and all other purposes. They or
any five of them may constitute the board of directors for
the first year, or until their successors shall be elected and
qualified. They shall elect one of their number president
pro tempore. They shall open books of subscription to
the capital stock of said company at such times and
places as they may see proper. When ten thousand dol-
Jars or more are subscribed they may convene the stock-
holders and organize the company. Each stockholder
shall be entitled to one vote for each share of stock sub-
scribed for and paid on by him. At the first meeting of
the stockholders the president pro tempore appointed by
the corporators shall preside. The stockholders at the
first meeting shall fix the number of directors and elect
them. The said board of directors shall elect a permanent
president and other officers and secretary, who shall cer-
tify said organization on the books of said company, a
copy of which, duly attested by a notary public, shall be
received as evidence of the legal organization of said com-
pany. The board of directors shall be stockholders of
said company, and they may fill any vacancy that may
occur in said board.

11. The board of directors may establish offices and
agencies at such places as they may deem proper, but the
principal office of the company shall be located at some
point within the state of Virginia.

12. The said corporation.is hereby granted a right of
way sixty feet wide through the tracts of land in said.
county belonging to the state of Virginia and now used,
occupied and controlled by the Southwestern lunatic asy-
lum—the line of said railroad to be so located and con-
structed as that, in the opinion of the board of directors of
said asylum, it will not interfere with or impede the ope-
rations of said asylum, and so as not in anywise to inter-
fere with or injure any spring or source of water supply
belonging to said asylum, upon condition that said rail-
road company, or its assigns, erect and keep in repair a
switch or siding, one bundred feet long, for the use of said
asylum, at some point along its line and on said asylum
lands, to be designated by the superintendent, chairman
of the board of directors and steward of said asylum, and
transport and convey over said road from the Norfolk and
Western railroad to said asylum switch all unbroken car
loads of freight for said asylum and return the empties to
said Norfolk and Western railroad free of charge, so long
as said road shall be operated.

13. All taxes due the commonwealth by said company
shall be paid in lawful money of the United States, and
not in coupons.

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