Chap. 203.—An ACT to incorporate the Montgomery electric company.

Approved February 10, 1894.

1, Be it enacted by the general assembly of Virginia, That John A
Harman, Asher W. Harman, W. A. Chesterman and William F
Shunk. their associates. successors and aagraiona he and aro horahu
ncorporated and made a body politic and corporate under the name
ind style of Montgomery electric railway and power company, and
xy that name shall be known in law and enjoy and exercise all
ights, powers and privileges pertaining to corporate bodies and
ecessury for the purposes of this act.

2. The capital stock of this company shall not be less than thirty
hougand dollars, nor more than three hundred thousand dollars, and
hall be divided into shares of fifty dollars each.

3. The company, in payment for subscriptions to the capital stock,
nay receive money, land, materials, labor or any other article of
value at such prices as may be fixed by the board of directors, and
he board of directors of said company may, in their discretion, re-
eive real or personal ‘property or services in payment thereof, or
nay issue shares of stock from time to time to represent enhanced
ralues of its property.

4. The annual meeting of the stockholders of said company shall
ve held in the town of Christiansburg on the first Monday in May
f each year, or at such other time or place as the stockholders in
eneral meeting shall appoint, and in all meetings of stockholders
ne vote may be cast in person or by proxy for each share of stock by
he holders thereof.

®. The board of directors shall consist of five members, who shall
rom their number choose a president and elect and appoint such
ther officers and agents as they may deem necessary to conduct the
iffairs of the company, and prescribe their duties, salaries and the
imount of their official bonds, when bond is required.

6. The principal office of said company shall be in the town of
“hristiansburg, and said company shall have power and authority to
‘onstruct, equip, maintain, purchase, hold and operate street railways
nthe county of Montgomery and the towns of said county of Mont-
yomery. The cars upon said railways may be propelled by horses,
iteam, electricity or other motive power.

‘. Its railways, poles, wires and other parts of its plant necessary
to the running of its cars, may be laid and placed in the roads and
streets of the county of Montgomery and of the towns of said
county of Montgomery, and its cars and tracks may be run over said
railway when so laid: provided the consent of the county court and
board of supervisors of said county of Montgomery be first obtained
to such uses of its roads and streets, and the councils of the towns of
said county of Montgomery, respectively, for such uses of said roads
and streets in said towns; but where such consent has already been
granted by said courts and said councils to any individual or com-
pany from which this company may desire any railway, or any part
of the plant connected therewith, no further grant of such power
shall be requisite, and the transfer to this company of any such rail-
Way or plant shall convey with it all such rights, franchises and
privileges derived from said county or towns or private individuals
to construct and equip other street railways, and to purchase, hold,
lease, maintain and operate any other street railways which have
been or hereafter may be constructed in the county of Montgomery,
aud construct, equip, maintain, purchase, hold and operate arc and
incandescent electric light and power plants for the purpose of fur-
nishing light for street-cars and buildings and motive power for
manufactories and other enterprises ; to construct, own and maintain
such poles, wires and other apparatus as may be necessary and suit-
able for conducting the business of said company; to change its
corporate name whenever it may so desire, but such change of name
shall in no wise affect the relation of the company to its property or
to its debts and contracts; to condemn land for the purpose of lay-
ing its railway track, establishing depots, erecting poles, wires and
subways as may be necessary for the business of said company.
But in all such combinations it shall be controlled by the laws of
the state in such cases made and provided, and shall have no other
powers than those granted by such laws; to cross, unite or connect
with any other line of railway, constructed or to be constructed, and
to consolidate with any other joint stock company created for sim-
ilar purposes, and to invest in the stock of other joint stock com-
panies and hold, vote or otherwise exercise al] the rights of a stock-
holder in said company, and do all other matters and things perti-
nently connected with the objects aforesaid and pertaining thereto.

8. The said company may acquire and hold real estate, not to ex-
ceed one hundred thousand dollars in value, nor two hundred acres
in quantity, at one time, and may sell, lease or otherwise dispose of
the same.

9. That said company is authorized to transport passengers,
freightand express over its line or lines of railway at such legal
rates of fare as it may adopt, and may make, contract for and fur-
nish light for buildings, cars and streets and motive power for man-
ufactories and other enterprises by electricity, gas or steam for such
compensation as may be agreed upon by said company.

10. That the said company shall have the power to sell or lease its
lines of railway, plants or property, or any part thereof; to borrow
money for the use of said company; to issue bonds and sell the
same, and to secure any loan made to it or any bonds issued by it
by mortgage or deed of trust upon aJl or any part of its property,
franchise or income. It may also purchase, hold, use, enjoy, sell or
otherwise dispose of any and all kinds and classes of personal prop-
erty requisite and necessary for the use, development and purposes
of said company.

11. Said company shall commence work on its road within one
year after the passage of this act and shall complete the same within
five years thereafter.

12. The said company shall pay all taxes and other dues to the
state of Virginia in current money of the United States.

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