CHAP. 276.—An ACT to incorporate the Savenbunor street rail-
way company.

Approved February 16, 1892.

1. Be it enacted by the general assembly of Virginia,
That Samuel E. Wheatley, George T. Dunlop, Frank T.
Glasgow, R. R. Witt, Alexander P. Moore and J. P. Moore,
or such of them as may accept the provisions of this act,
their associates, successors, or assigns, be, and they are
hereby, incorporated and made a body politic and corpor-
ate, under the name and style of the Savenbunor street
railway company, and by that name sha)! be known in
law, and as such are authorized and empowered to locate,
construct, maintain and operate a street railway on any
streets, or highways, or lands in orin the vicinity of
Buena Vista, Rockbridge county, Virginia, for public use
for the conveyance of passengers or freight, the same to
be propelled by means of horse, steam, cable, electric, or
any other power, and to collect tolls and fares on the
same.

2. Such street railway shall not be located or con-
structed except with the consent first had and obtained
of the local authorities having control of the streets or
highways to be used, but such railway shall not be loca-
ted or constructed except with the consent of and under
such regulations as may be imposed by the loca! authori-
ties having control of the streets or highways to be used;
and where said company desires to use any streets or
highways laid out or opened by or at the expense of the
corporation of Buena Vista, or under its control, the con-
sent and approval of the corporation of Buena Vista, in
writing, under its corporate seal, sanctioned by the proper
authorities thereof, must also be previously had and ob-
tained, and the terms and conditions of such consent and
approval accepted and complied with; and if said com-
pany shall desire to lay its tracks and operate upon the
lands of any person or company, it may do so: provided it
first obtains the written consent of said person or com-
pany.

3. The road-way and tracks of said company shall be
constructed, operated and maintained by it in such map-
ner as not to unreasonably interfere with or obstruct the
ordinary use of the streets or highways used by it, and
the said company shall] at all times keep its road-bed in
good order and repair.

4. The said company shall have perpetual succession,
have power to sue and be sued, plead and be impleaded,
defend and be defended in all courts, whether in law or
In equity, and may make and have a common seal, and
alter and renew the same at pleasure; and shall have,
possess and enjoy all the privileges of a corporation or
body politic in the law necessary for the purposes of this
act.
5. The capital stock of said company shall not be less
than five thousand dollars, and may, from time to time,
with the consent of a majority of the stockhoders, be in-
creased to an amount not exceeding five hundred thous-
and dollars, by issue and sale of shares, the par value of
which shall not be less than ten dollars, from time to time,
under such regulations as the board of directors of said
company shall prescribe; and cash, Jabor, materials and
property, real or personal, may be received in payment of
subscriptions to the capital stock, at such valuations as
may be agreed upon, and may make such subscriptions
payable in such manner or amounts, at such times as
may be agreed upon; and the stock issued may be com-
mon, or partly common and partly preferred.

6. Said company shall have power to acquire by lease,
purchase, or donation, rights of way, mineral rights, water-
power, and real and personal property: provided it shall
not hold more than one hundred acres at any one time. It
shall have power to contract with other corporations or in-
dividuals for materials and power to construct, equip, or
operate its line.

‘Go gle
7. It shall be lawful for said company’ to borrow
money, or issue or sel] its bonds, from time to time,
‘or such sums and upon such terms as its board of direc-
ors or stockholders may deem expedient and proper, and
‘© secure the payment of said bonds by mortgages or
leeds of trust upon all or any portion of its property,
railroads, and franchises, and at any time may make sale
>f and transfer the same to other corporations or individ-
oals.

8. The persons first named in this act, or such of them
a8 shall accept the provisions thereof, shall have the pow-
er and authority of a president and board of directors for
the purpose of organizing, and all other purposes, until
their succesors are elected and qualified, which the stock-
holders may proceed to do any time after organization of
the said company.

9. The said company shall have power to hold stock in
other companies and enjoy all the privileges and rights of
the other stockholders in such other companies.

10. Upon written notification of the time and place the
incorporators named in this act may meet, or such of them
as will accept the terms and conditions thereof, and open
books of subscription; and may organize said company
when five thousand dollars of the capital stock shall have
been subscribed and one dollar per share thereon paid.

11. The said company shall be required to commence
the construction of said railroad within two years from
the passage of this act, or otherwise the powers, privileges,
and franchises hereby granted shall be annulled and be-
come void.

12. All taxes and other demands due, or to become due,
to the commonwealth of Virginia by said company shall
be paid in lawful money of the United States, and not in
coupons.

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