CHAP. 448.--An ACT to incorporate the Fry’s Spring street rail-
road company.

Approved February 29, 1892.

1. Be it enacted by the general assembly of Virginia,
That from and after the passage of this act, E. L. Handy,
L. P. Maury, F. R. Welsh, Reuben Maury, J. Archer Har-
ris, and such other persons as they may associate with
them, their successors and assigns be, and are hereby,
created and declared a body politic and corporate, under
the name and style of the Fry’s Spring street railroad
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 in any court
of law and equity in this state or elsewhere, where their
rights may come in question; may have and use a com-
mon seal and the same use, renew 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 as are not in conflict with the general laws of
this state. And said corporation may acquire, purchase,
accept, hold, enjoy and convey any property, real or per-
sonal or mixed, that may be necessary or profitable for the
purpose of its incorporation, or which it may acquire in
the progress of its business. It shall have power to fix its
rates of toll, not exceeding the rate fixed by the general
law for the transportation of persons and property, and col-
lect the same, and in general shall have all such powers,
privileges, rights and franchises 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 émploy a line of railway, of such gauge as the
company may determine, to be operated by horses or
mules, or any other motive power, with single or double
tracks, upon and over any of the streets of the city of
Charlottesville, on which the corporate authorities of said
city have heretofore granted or may hereafter grant, the
right of way, subject to such restrictions and limitations
as said city has made; and also upon and over the high-
way leading from said city to or in the direction of Fry’s
Spring, or upon and over such other route, outside of said
city, as may be lawfully acquired by said company, or
upon and over such route within the grounds of the Uni-
versity of Virginia as the rector and board of visitors of
said university may prescribe: provided the said com-
pany shall keep the streets and highways occupied by it,
between the rails, and for one foot on each side of the
track in like good repair, as is the residue of the said street
or highway adjacent to said track: provided, however, no
such highway or public road shall be used or occupied by
said company, except with the consent of and subject to
such conditions and restrictions as may be prescribed by
the board of supervisors of Albemarle county, and the
same to be also approved by the county court of said
county: provided, also, that it shall not impair the rafety
or impede or endanger the operation of any railroad or
transportation company, or be injurious to the works of
the company to be crossed.

4, Be it further enacted, That should it be necessary for
the successful carrying on of the business of said company
to condemn any land for these purposes, it shall 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 fifty thousand dollars, divided into shares
of fifty dollars each, and said company shall have power
to issue bonds to the amount of twenty-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 open under
the superintendence of the persons named in the second
section of this act, or with the consent of a majority of
them, who shall be ex-officio directors until such corpora-
tion is organized, which shall be done within sixty days
after the passage of this act. Such organization shall be
perfected as soon as the sum of five thousand dollars shall

ave been subscribed to the capital stock.

7. Be it further enacted, That the corporate power 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 corporators,
or a majority of them, may determine, and annually there-
after by the stockholders of the c@mpany, each share of
fifty dollars being entitled to one vote. The by-laws here-
inbefore mentioned shall be drafted by the said board, and
certificates of stock shall be issued and transferable in
such manner as they determine.

8. Said Fry’s Spring street railroad company may carry
upon and over their line either passengers or freight, or
both, as the public wants and its interest may require:
provided that all the powers granted by this act shall cease,
unless said company shall, within three months from the
passage of this act, begin and continue bona fide opera-
tions. This act shall be subject to repeal, alteration, or
modification, at the pleasure of the general assembly.

9. All taxes payable by said company to the common-
wealth of Virginia shall be paid in lawful money of the
United States, and not in coupons.

10. This act shal] be in force from its passage.