CHAP. 645.—An ACT to incorporate the Norfolk and Newport
News ferry company.

Approved March 3, 1892.

1. Be it enacted by the general assembly of Virginia,
That Manning C. Staples, William Marshall, junior,
Samuel D. Davies, Edmund R. Morris, and F. DeFuniak,
or any three of them, their associates and successors, are
hereby constituted a body corporate and politic by the
name of the Norfolk and Newport News ferry company,
and as such shall have all the franchises, rights, privi-
leges, and immunities appropriate to a corporation under
the laws of the state of Virginia.

2. The said company shall have the right to purchase,
lease, hold, equip, furnish, and manage two or more steam-
boats or other vessels for the purpose of establishing and
maintaining a ferry between the city of Norfolk and the
town of Newport News, and between Old Point and Wil-
loughby Spit, Norfolk, and intermediate points, and may
convey and transport passengers, teams, vehicles, freight,
and all other things and persons which, in the opinion of
the board of directors, it may be desirable to convey and
transport; and the said company shall have the right to
charge and collect, by due process of law, such reasonable
tolls, rates, or charges for such conveyance or transporta-
tion as the board of directors may prescribe.

3. The capital stock of the said company shall not be less
than twenty-five thousand dollars nor more than five hun-
dred thousand dollars, and each share shall be of the par
value of one hundred dollars and entitled to one vote;
and the board of directors may, at any time, by a majority
vote, increase the capital stock to any amount between the
aforesaid minimum and maximum as to them may seem
advisable; and subscriptions for the capital stock may be
paid in money, labor, services, or any other property or
thing which the board of directors may deem valuable for
the purposes of the company, at such valuation as they
may accept.

4, The said company may acquire and hold by lease,
purchase, condemnation, or otherwise, such real estate at
each of its said termini as may be needed for its purposes,
and may build thereon such docks, wharves, warehouses,
and other structures as may be necessary or proper; and
may borrow money, and for that purpose may issue bonds
or other evidences of debt secured by deed of trust or
mortgage upon its franchises, rights, and property; and
may sell, lease, or otherwise dispose of its franchises,
rights, and property to any other person or persons: pro-
vided, however, that said company shal! not establish any
wharf or landing place within four hundred yards of any
terminal of any other ferry or transportation line now in
operation, and said company shall not have the power to
condemn the property of any company owning any such
ferry or transportation line.

5. The said company shall carry out the provisions of
this act within three years from its passage.

6. The general assembly reserves the right to amend,
alter, or repeal this act at pleasure.

7. All taxes 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.

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