Chap. 189.—An ACT to incorporate the Roanoke mineral belt-line railroad
company.

Approved February 9, 1894.

1. Be it enacted by the general assembly of Virginia, That G. W.
Crumpecker, M. K. Arnn, Wilson Wertz, E. B. Crabill and W. H.
Karnes, of Roanoke, Virginia, and such other persons as they may
associate with them, their successors and assigns, be, and they are
hereby, constituted a body politic and corporate under the name and
stvle of the Roanoke mineral belt-line railroad company, under
which name it may sue and be sued in all courts, whether in law or
equity, and shall have perpetual succession, may contract and be
contracted with, and may have a corporate seal, which it may alter
and renew at pleasure, and it may make by-laws, rules and regula-
tions for the due and orderly conduct of its business and affairs not
inconsistent with the provisions of this act and the laws of this state.

2. The said company is authorized and empowered to locate, con-
struct, build, equip, maintain and operate a railroad and telegraph
line from a point within the city of Roanoke, Virginia, passing
through the counties of Roanoke, Bedford, Franklin and Pittsylva-
nia, extending to the Richmond and Danville railroad at a point
between Rocky Mount and Franklin junction to be selected by said
company, with the privilege to said company of continuing its line
across said Richmond and Danville railroad, through Pittsylvania
county to the city of Danville, Virginia, along such route as may be
selected by said company, with such number of tracks as it may
deem necessary, and of standard gauge, and for that purpose it shal]
have the right to acquire a continuous strip of land one hundred feet
in width, upon which to construct its road, with such additional land
for depots, station-houses, water-tanks, freight yards, repair or ma-
chine shops as it may desire, not to exceed forty acres in any one par-
cel. In order to secure a continuous line of railroad from Roanoke to
said point on the Richmond and Danville railroad, and thence to Dan-
ville if they shall so elect, to be operated under one management, the
Faid Roanoke mineral belt-line railroad company may acquire by
purchase the rights, powers, privileges, franchises and properties of
other chartered railroad companies, or which may hereafter be char-
tered by this state, by exchanging its stock and other securities for
the stock and securities of the said other companies, or it may merge
and consolidate any of said railroad companies, their rights, powers,
privileges, franchises and properties hereby conferred upon or which
may be hereafter acquired by the Roanoke mineral] belt-Jine railroad
company, on such terms as may be agreed upon between the con-
tracting parties, acting through their respective boards of directors,
Fubject, however, to the approval of the majority of the stockholders
of each company; and the said railroad, or its successor, may adopt
another name for the company which may be formed by the coneoli-
dation of the rights, powers, privileges, franchises and properties of
the said company, or any of them, plenary power and authority being
hereby given to auch other companies to make and carry out the
consolidation and merger: provided that the consolidated company
shall be liable for all debts and liabilities of each and everv of the
said companies, and that all the rights, powers, privileges and fran-
chises which each and every of the said railroad companies are
possessed of at the date of consolidation shall be, and are hereby,
conferred upon and grauted to the said consolidated company to the
same extent as if each and every of the said powers, rights, privi-
leges and franchises were herein recited: and provided, further, that
should the said company or its successor ever consolidate its rights,
powers, privileges, franchises or properties with those of a foreign
corporation, the consolidated company shall always remain a Vir-
ginia corporation in the operation and management of its properties
in this state and as to the rights of suing and being sued.

3. The capital stock of said company, or company formed by the
consolidation or merger of said company with any other railroad
company or companies, shall not exceed three hundred thousand
dollars; said stock shall be divided into shares of one hundred dol-
lars each. The board of directors of the said company, or any com-
pany formed by the consolidation or merger of said company with
any other railroad company or companies, shall have the right to
issue bonds, secured by mortgage, upon its real and personal prop-
erty, rights, powers, privileges and franchises, not exceeding thirty
thousand dollars per mile for each mile of its trunk line.

4. To furnish a basis for raising capital, it shall be lawful for said
company, or its successors, to receive grants and subscriptions in
land at a fair valuation, and coal, iron, timber, materials and min-
eral rights, upon such terms as may be agreed upon with the board
of directors, or it may exchange jts stock or bonds therefor, and may
hold or sell the same at pleasure: provided the said company shal!
not hold the said land for more than fifteen years after the comple-
tion of its road.

5. The said company is authorized and empowered to locate, con-
struct, equip and operate lateral and branch roads by such route or
routes as may be necessary for the accommodation of the public and
to bring out the coal, iron, ores, minerals, timbers and the products
of the counties of Roanoke, Bedford, Campbell, Franklin and Pitt-
sylvania, or to connect with any other ‘road that is now or hereafter
may be constructed in or through any of said counties, not to exceed
for each branch or lateral line twenty miles in length.

6. The five persons first named in the first section of this act shall
constitute the first board of directors. They shall elect one of their
number president, appoint a secretary and treasurer, and adopt a code
of by-laws and perform all other acts proper for a board of directors
not inconsistent with the laws of the commonwealth. They shall
hold their office until the first meeting of the stockholders; may
open books of subscription at any time and place. When five thou-
sand dollars or more is subscribed they shall convene the atock-
holders at Roanoke city, Virginia, at which meeting the stockholders
shall reorganize the company by the election of a president and
board of directors, and transact any other business necessary and
proper to be done. Each stockholder shall be entitled to one vote
for each share of stock registered in his name. The stockholders at
the first meeting shall fix the number of directors and elect the
same; they shall elect a president and secretary, who shall certify
said organization on the books of the company, a copy of which.
duly attested by a notary public, shall be received as evidence of the
legal organization of the company.

7. No stockholder shall ever be held liable for the indebtedness
of said company in a sum greater than that due from him on stock
subscribed by him.

8. Said railroad company, or ite successors, shall begin the work
of construction of its railroad within two years, aud shall complete
the main line of the same within five years from the passage of
this act.

9. The principal office of said company shall be in the state of!
Virginia. |

10. This act shall be subject to amendment or repeal at any time
by the general assembly, and all taxes, dues or demands that may;
hereafter be assessed against this company shall be paid in lawfu
money of the United States, and not in coupons.

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