CHAP. 99.—An ACT to incorporate the Potomac and Great falls
railroad company.

Approved January 26, 1892.

1. Be it enacted by the general assembly of Virginia,
That R. W. Moore, B. F. Mackall, S. R. Donohoe, J. M.
Love, and D. S. Mackall, of Virginia; and Henry Wise
Garnett, and S. P. Fickline, of the District of Columbia,
and such other persons as they may associate with them,
and their successors and assigns, are hereby constituted
a body politic and corporate, in the name and style of the
Potomac river and Great falls railroad company, for the
purpose of constructing, equipping, and operating a rail-
road, either by steam or electricity, from the Great falls,
in Fairfax county, Virginia, to such other point in said
county as may be selected, to such point as may be se-
lected on the Potomac river between the Great falls and
the city of Alexandria.

2. The capital stock of said company shall not be less
than twenty-five thousand dollars, nor more than five hun-
dred thousand dollars. The’ par value of each share is-
sued shall be one hundred dollars. Subscriptions to the
stock shall be received under and according to such reg-
ulations as the directors may see fit to make, and in pay-
ment of subscriptions they may take labor, material and
property, real and personal, as well as cash.

3. The said company, in addition to the land which it
may acquire under section one thousand and seventy-
three of the code of Virginia, is empowered to acquire
real estate in the counties of Fairfax and Alexandria, but
shall not hold at any one time more than fifty thousand
acres of real estate.
4, The said company shall have the right to borrow
money, and to that end, to issue bonds and secure the
payment of the same by ‘deed of trust or mortgage on any
or all of its property and franchises; to improve and sell
its real estate and to lease its franchises and property.

5. The said company shal]l have the right to connect or
ubite its railroad with the line of any other railroad, now
or hereafter to be built; to consolidate or merge its stock,
property and franchises with that of any other corpora-
tion, and to subscribe to the stock of any other corpora-
tion.

6. The persons named in the first section hereof, shall
constitute the board of directors for the first year after
this act goes into effect, and shall as soon as may be or-
ganized by electing from their number or other persons,
a president, secretary, and treasurer, and such other offi-
cers as it may deem necessary, and shall, from time to
time, make such regulations as may be needful for receiv-
ing subscriptions to the stock of the company, and they
shall have the right to fill all vacancies. Upon the sub-
scription of the minimum capital stock, and the payment
of two per centum thereof, the said company shall be
considered and deemed fully organized, and the directors
shall adopt all by-laws necessary for the interest of the
company, and take such further action as its business
may require.

7. The said directors for the first year after this act
goes into effect, shall exercise all the powers of the com-
pany, and do whatever might be authorized by the stock-
holders; but there shall be a general meeting of the
stockholders within twelve months from the date when
the payment of two per centum of the minimum capital
stock is completed, at such place and time as the direct-
ors shall appoint, when a new board of directors shall! be
elected, and such changes made in the by-laws as the
meeting shall think proper; and there shall be such other
meetings of the stockholders as the by-laws may require.

8. The said company shall commence the construction
of its railroad within two years and complete its con-
struction of its main line within five years from the pas-
sage of this act.

9. The said company shall pay its taxes in lawful
money of the United States, and not in coupons.

10. The general assembly of Virginia reserves the right
to alter or repeal this act at any time hereafter.

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