CHAP. 62. —An ACT to incorporate the Big Stony railway com-
pany.

Approved January 16, 1892.
1. Be it enacted by the general assembly of Virginia,

That Frank Woodman, and A. E. Humphreys, of West
Virginia; James W. Marshall, F. B. Ohmer, J. W. Cald-
well, William A. French, and Ballard Watts, of Virginia,
and Robert Ballard, of Ohio, or such of them as may
accept the provisions of this act, and such other persons
and corporations as may hereafter become associated with
them, in the manner hereafter provided, shall] be, and they
are hereby, constituted a body corporate by the name of
the “ Big Stony railway company,” and by that name shall
have all powers, rights and franchises necessary and
proper to construct, equip, maintain and operate a rail-
road, to be known as the Big Stony railway company,
which may commence at some point on the Norfolk and
Western railroad, in the county of Giles or Pulaski, in the
State of Virginia, and thence by such route as the com-
pany may determine, to some suitable point in the county
of Giles or Craig, as the said company may determine.
And the said company shall have power to purchase and
hold mineral and timber lands, or any interest therein, in
order to furnish tonnage to its road, and to lease or sell
the same; but the said company shall not have the right
to hold at one time more than one hundred thousand acres
of land in this state.

2. The capital stock of the company shall not exceed
five hundred thousand dollars, to be divided into shares
of one hundred dollars each—each share being entitled to
one vote; and it shall be lawful for the persons herein-
before named, or any five of them, to organize the com-
pany by the election of a president and board of directors,
and such other officers as may be necessary; and there-
upon they shall have and exercise all the general powers
and functions of a corporation, and be subject to all the re-
strictions imposed by the laws of the state applicable to
internal improvement companies, except so far as the same
may be changed or modified by this act. But the said
company shall not commence the construction of the said
road until there is subscribed, by individuals or corpora-
tions, at least the sum of fifty thousand dollars, and at
least ten per centum thereof, actually paid in; and any
connecting railroad company which is authorized by its
charter to subscribe to works of internal improvement,
with the assent of this company, may subscribe to the
said stock, and subscriptions thereto may be made in
money, materials, or lands or any interest therein.

3. The board of directors shall have power to issue
bonds in sums of not less than one hundred dollars each,
bearing interest at not exceeding six per centum per
annum, the principal and interest payable at such times
and places as the board of directors may determine, and
may secure the same by one or more mortgages on the
road, franchises, incomes, and real and personal property
of the company (or the same may be guaranteed by other
railroad companies), or such parts thereof as may be
designated in the mortgages, and may lease or convey its
rolling stock, equipments, property and franchises, or any
of them, to any other company or companies.

Whentocom- 4, The said company is required to commence the con-

vraation struction of its road within two years from the first day
of April, eighteen hundred and ninety-two,'and to com-
plete the same within five years from that date. The
cities, towns, corporations and counties lying along the

owns right to line adopted by this company, shall have the right to sub-

capital stock. scribe to the capital stock thereof, to the extent, and in
the form and manner now provided by law.

ana be 5. The general assembly of Virginia reserves the right
to amend, repeal and alter this charter. ;

Commencem’t. 6. This act shall be in force from its passage.