CHAP. 183.—An ACT to incorporate the Lynchburg-Edison elec-
tric company.

Approved February 5, 1892.

1. Be it enacted by the general assembly of Virginia,
That Peter J. Otey, Watkins L. Moorman, R. L. Miller, G.
Woodville Smith, R. Taylor Gleaves, C. C. Dunn, junior,
Jerry D. Sullivan and Frank P. Christian, their associ-
ates, successors and assigns, be, and are hereby, incorpor-
ated and made a body politic and corporate, under the
name and style of “ Lynchburg-Edison electric company,”’
and by that name shall be known in law, and enjoy and
exercise all rights, powers and privileges pertaining to
corporate bodies, and necessary for the purposes of this
act.

2. The capital stock of said company shall not be less
than thirty thousand dollars, nor more than three hun-
dred thousand dollars, and shall be divided into shares of
twenty-five dollars each.

3. The company, in payment for subscriptions to its
capital stock, may receive money, land, materials, labor,
or any other article or value, at such prices as may be
fixed by the board of directors, and the board of directors
of said company may, from time to time, increase the
capital stock until the said maximum is reached, and for
that purpose, may issue shares of stock and sell the same
at such price as may be fixed and agreed to by them, and
may, in their discretion, receive real or personal prop-
erty or services in payment thereof, or may issue shares
of stock, from time to time, to represent enhanced values
of its property.

4, The annual meeting of the stockholders of said com-
pany shall be held in the city of Lynchburg on the first
Monday in April in each year, or at such other time or
place as the stockholders in general meeting shall ap-
point, and in all meetings of stockholders one vote may
be cast, in person or by proxy, for each share of stock
by the holders thereof.

5. The board of directors shall consist of seven mem-
bers, who shall from their number choose a president, vice-
president, and elect and appoint such other officers and
agents as they may deem necessary to conduct the affairs
of the company, and prescribe their duties, salaries, and
the amount of their official bonds, when bond is required ;
but the stockholders at any general meeting shal] have
power to increase the number of directors.

6. The principal office of said company shall be in the
city of Lynchburg, and said company shall have power
and authority to construct, equip, maintain, purchase, hold
and operate street railways in the counties of Campbell
and Bedford, and in the city of Lynchburg. The cars
upon said railways may be propelled by horses, steam,
electricity, or other motive power.

7. Its railway, poles, wires, and other parts of its plant,
necessary to the running of its cars, may be laid and
placed in the streets and roads of the city of Lynchburg,
and the streets and roads of the counties of Campbell and
Bedford, and its cars or tracks may be run over said rail-
way when so laid: provided the consent of the council of
the city of Lynchburg be first obtained to such uses of its
streets and roads, and the county courts of said counties
of Campbell and Bedford respectively, for such uses of
said roads and streets in said counties; but where such
consent has already been granted by said council and said
courts to any Individual or company from which this com-
pany may desire any railway, or any part of the plant
connected therewith, no further grant of such power shall
be requisite, and the tranefer to this company of any such
railway or plant shall convey with it all such rights, fran-
chises, and privileges derived from said counties, city, or
private individuals; to construct and equip other street
railways, and to purchase, hold, lease, maintain and oper-
ate any other street railways, which have been or may
hereafter be constructed, and construct, equip, maintain,
purchase, hold and operate, arc and incandescent electric
light, heat and power plants, for the purpose of furnishing
light for streets, cars and buildings, heat for buildings,
and motor power for manufactories and other enterprises;
to construct, own, and maintain such poles, wires and other
apparatus, as may be necessary and suitable for conducting
the business of said company; to change its corporate
name whenever it may so desire; but such change of name
shall in no wise affect the relation of the company to its
property, or to its debts and contracts; to condemn land
for the purpose of laying its railway track, establishing
depots, erecting poles, wires, subways, as may be necessary
for the business of said company. But in all such com-
binations, it shall be controlled by the laws of the state
in such case made and provided, and shall have no other
powers than those granted by such laws. To cross, unite,
or connect with any other line of railway, constructed or
to be constructed, and to consolidate with any other joint
stock company created for similar purposes, and to invest
in the stock of other joint stock companies, and hold, vote,
or otherwise exercise all the rights of a stockholder in
said company, and to do all other matters and things per-
tinently connected with the objects aforesaid and pertain-
ing thereto.

_ 8. That said company may acquire and hold real estate
not to exceed fifty thousand dollars in value, nor one hun-
dred acres in quantity, at one time, and may sell, lease, or
otherwise dispose of the same.

9. That said company is authorized to transport passen-)
gers, freight, and express, over its line or lines of railway,
at such legal rate of fare as it may adopt, and may make,
contract for and furnish light for buildings, cars, and
streets, heat for buildings, and motive-power for manufac-
tories and other enterprises, by electricity, gas, or steam,
for such compensation as may be agreed upon by said
company.

10. That said company shall have power and authority
to sell or lease its lines of railway, plants, or property, or
any part thereof; to borrow money for the use of the said
company; to issue bonds and sell the same, and to secure
any loan made to it, or any bonds issued by it, by mort-
gage or deed of trust upon all or any part of its property,
franchise, or income. It may also purchase, hold, use,
enjoy, sell, or otherwise dispose of any and all kinds and
classes of personal property requisite and necessary for
the use, development, and purposes of said company.

11. The said company shall pay all taxes and other dues
to the state of Virginia in current money of the United
States, and not in coupons.

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