CHAP. 715.—An ACT to incorporate the Virginia Central rail-
road and navigation company.

Approved March 4, 1892.

1. Be it enacted by the general assembly of Virginia,
That Thomas F. Barrett, Julian H. Miller, John S. John-
son, William W. Flemming, and Martin H. Bunn, their
ssociates, successors and assigns, be, and they are hereby,
ncorporated and made a body politic and corporate under
he name and style of the Virginia Central railroad and
1avigation company, for the purpose of constructing,
quipping and operating railroads and transporting freight
snd passengers on the Chesapeake bay and its tributaries,
.nd as such are authorized and empowered to locate, to
-onstruct, equip and operate a railroad commencing at the
,own of Hampton, or near there at deep water, and run-
ning thence to West Point, and from thence to Orange
sourt-house and Harrisonburg, through the counties of
Elizabeth City, York, James City, New Kent, King Wil-
tam, Hanover, Caroline, Louisa, Spotsylvania, Orange,
Culpeper, Madison, Greene, and Rockingham, or any of
them, as the said company may determine after they have
surveyed the route in accordance with the best interests of
the company, and as such are authorized to locate, ope-
rate and equip a line of water transportation by means of
steamboats, sail vessels, ferry boats and such other floats
as the said company may deem advisable.

2. The said company shall have perpetual succession,
have power to sue and be sued, to plead and be implead-
ed, defend and be defended in all courts, whether at law
or in equity, and they may make and have a common geal,
alter and renew the same at pleasure, and to have posses-
sion and enjoy all the rights and privileges of a corpora-
tion or a body politic in the law, and necessary for the
purpose of this act.

3. The capital stock of this company shall not be less
than five thousand dollars, and may, from time to time, be
increased to any amount not exceeding five million dol-
lars, by issuing certificates of shares under such regula-
tions as the board of directors shall decide, the par value
of which shall not be less than one hundred dollars each;
and subscriptions to the capital stock of said company
may be made in money, labor, material, bonds, stocks, real
estate or personal property, at such valuation as may be
agreed upon between the directors and the subscribers,
and such subscriptions may be made payable in such man-
ner and amounts and at such times as may be agreed upon
with the subscribers; and whenever fifty shares shall have
been subscribed to, the subscribers, under the direction of
any five of the incorporators hereinbefore named, who,
themselves, shall be subscribers, may organize the said
company by eleeting a president and board of directors,
and by electing or providing for the appointment of such
other officers as may be necessary for the control and man-
agement of the business and affairs of said company, and
thereupon they shall have and exercise all the powers and
functions of a corporation under their charter and the
laws of this state.
4. It shall be lawful for said company to borrow money
and issue and sell bonds from time to time for such sums
and on such terms as its board of directors may deem ex-
pedient and proper in the prosecution of any of its work ;
and may secure the payment of said bonds by mortgages
or deeds of trust upon all or any of its property, real, per-
sonal and mixed, its contracts and privileges, and its char-
tered rights and franchises, including its franchises to be
& corporation; and it may, as the business of the company
shall require, sell, lease, convey and encumber the same.

5. The said company shall have power to lease or pur-
chase boats, barges and vessels, either steam or sail, and
any mining, manufacturing or other corporation may sub-
scribe to, guarantee or hold the stock or bonds of said
company. .

6. The said company is authorized and empowered to
locate, construct, equip and operate any lateral or branch
roads or tramways, not exceeding twenty miles in length,
which a majority of its stockholders may determine to
construct, maintain, equip and operate, and by such route
as may be determined by its board of directors; and the
said company may connect or unite the said route with
that of any other company or companies other than a com-
peting line, or consolidate and merge its stock, property
and franchises with those of any other company, or com-
panies operating, or authorized to operate, a connecting
line, other than a competing line, upon such terms and
under such name as may be agreed upon between the com-
panies so uniting or connecting, merging or consolidating ;
and for that purpose power is hereby given to it and to
such other company or companies, to make and carry out
such contracts as will facilitate and consummate such con-
nection, merger or consolidation: provided that a copy of
every contract of consolidation and merger be filed in the
office of the board of public works. The company may
acquire by condemnation, according to the laws of Vir-
ginia, the lands required for the right of way of its rail-
road and the necessary stations, landings and depots for
its operations.

7. Each stockholder in the company shall, at all meet-
ings or elections, be entitled to one vote for each share of
stock registered in his name, and the president and board
of directors of said company may enact such by-laws,
rules and regulations for the management of the affairs of
said company as they may deem proper and expedient.

8. The board of directors shall be stockholders of said
company and shall consist of such number as the stock-
holders may determine upon, and shall be elected at the
stockholders’ meeting to be held on such day as the by-
laws of the company may direct, and shall continue in
office for the term of one year from and after the date of
heir election and until their successors are elected and
.ccept the duties of the office, and they shall appoint one
»f their number president. And in case of the death, re-
signation or incapacity of any member of the board of di-
rectors during his term of office, the said board shall elect
nis successor for the unexpired term. ’

9. All taxes and dues to the commonwealth by said com-
pany shall be paid in lawful money of the United States,
and not in coupons. And this charter may be altered or
amended upon the application of the board of directors of
said company.

10. Work of construction under this charter shall be
commenced within two years and completed within five
years from the passage of this act, in default of which all
rights hereunder shall cease and terminate.

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