Chap. 584.—An ACT to incorporate the Graham-Bluefield electric railway
company.

Approved March 3, 1894.

1. Be it enacted by the general assembly of Virginia, That John
H. Dingee, Walter “Graham, John Graham, junior, Howard 8. Gra-
ham and William J. Haines, or such of them as may accept the pro-
visions of act, their associates, successors and assigns, be, and they
are hereby, incorporated and made a body politic and corporate under
the name and style of the Graham-Bluefield electric railway com-
pany, and as such are authorized and empowered to locate, construct,
equip, maintain and operate a railroad for public use in the convey-
ance of persons and property by the power and force of electricity,
steam or animals, or by any mechanical power, commencing at or
near the Norfolk and Western passenger station in the town of Gra-
ham, in the county of Tazewell, and running\ thence by the most
practicable route to a point in the boundary line of the said county
of Tazewell, which is also a point in the state lime between the states
of Virginia and West Virginia.

9. The said company shall have. perpetual succession, and have
power to sue and be sued, plead and be impleaded, defend and be
defended in all courts, whether at law or in equity, and may make
and have a common seal, and alter or renew the same at pleasure,
and shall have, possess and enjoy all the rights and privileges of a
corporation or body politic in the law and necessary for the purposes
of this act.

3. The capital stock of the said company shall not be less than five
thousand dollars, and may from time to time be increased to any
amount not exceeding two hundred thousand dollars by the issue and
sale of shares of preferred or common stock, or both, upon such terms
and conditions and under such regulations as the board of directors
of said company shall prescribe, the par value of which shall be not
less than one hundred dollars each; and the directors may recelve
cash, labor, materials, bonds, stock, real or personal property, rights
of way and other rights in payment of subscriptions to the capital
stock, at such valuation and such prices as may be agreed upon be-
tween the directors and the subscribers, and may make such sub-
scriptions payable in such manner or amounts and at such times as
may be agreed upon with the subscribers; and whenever fifty shares
shall have been subscribed to, and the sum of five hundred dollars
paid in cash, the subscribers, under the direction of the incorpora-
tors hereinbefore named, who themselves shall be subscribers, may
organize the said company by electing 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 management
of the business and affairs of said company; and thereupon they
shall have and exercise all the powers and functions of a corpora-
tion under their charter and the laws of this state.

4. It shall be lawful for said company to borrow money and issue
and sell its bonds from time to time for such sums and on such terms
as its board of directors may deem expedient and proper for any of
the purposes of the company, and may secure the payment of said
bonds by mortgages or deeds of trust upon all or any portion of its
property, real or personal and mixed, its contracts and privileges
and its chartered rights and franchises, including its franchise to
be a corporation ; and it may, as the business of the company shall
require, sell, lease, convey and encumber the same.

5. It shall be lawful for said company to guarantee, subscribe to
and bold shares in the capital stock of or the bonds of any railroad,
mining, manufacturing or other corporations chartered under the
laws of the state of Virginia or any other state; and any such rail-
road, mining, manufacturing or other corporation may subscribe to,
guarantee or hold the stocks or bonds of the said company.

6. The said company is authorized and empowered to locate, con-
struct, equip, maintain and operate any lateral or branch roads or
tramways, not to exceed twenty miles in length, which a majority of
its stockholders may determine to locate, construct, equip, maintain
and operate, and by such route as may be determined by its board
of directors; and may locate, construct, equip, maintain and operate
its railroad and branches, poles and wires over, along and through
public streets, highways and roads upon obtaining the consent of
the parties having control thereof; and the said company may con-
nect or unite its said road with that of any other company or com-
panies, or consolidate and merge its stock, property and franchises
with and into those of any other company or companies operating
or authorized to operate a connecting line of railroad, not a compet-
ing line, in this state or in the state of West Virginia, 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 such other company or
companies to make and carry out such contracts as will facilitate
and consummate such connection, merger or consolidation, or any
lease or sale: provided that a copy of every such contract of any
consolidation and merger be filed in the office of the board of public
works.

7. It shall be lawful for the said company to acquire by donation
or purchase or by condemnation, according to the laws of this state,
land for right of way, depots, stations and other purposes necessary
for the successful construction and operation of its road, including
the condemnation of the use of land for erecting thereon poles and
wires along the line of the road, or elsewhere, as may be necessary or
desirable, in order to transmit and distribute electricity to motors or
cars along its line and to connect its road with a plant or plants from
which the said company may desire to derive electric power, and to
contract with other corporations for the supply of power which it
may require for the operation of its road.

8. The said company shall be required to commence the construc-
tion of said railroad within two years from the passage of this act,
and to complete the construction of the same within five years there-
after, or otherwise the powers, privileges and franchises hereby
granted shall be annulled and become void.

9. Each stockholder in the company shall, at all meetings or elec-
tions, be entitled to one vote for each share of stock registered in his
name. And the stockholders 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.

10. The board of directors shall be stockholders of said company,
and shall consist of such number as the stockholders may determine
upon, and shall be elected at the stockholders’ annual meeting, to be
held on such days 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 their election, and until their successors are elected and ac-
cept the duties of the office, and they shall appoint one of their
number president; and in case of the death, resignation or inca-
pacity of any member of the board of directors during his term of
office, the said board shall elect his successor for the unexpired
term. .

11. Any county, town or city along the line of said railroad or its
branches, or any county adjoining another county through which
such line or its branches may pass, may, pursuant to the general
laws of Virginia, subscribe to the capital stock of the said railroad
company, and the said company is authorized to accept the same.

12. The board of directors may establish offices and agencies at
such places as they may deem proper, but the principal office of the
company shall be located in the state.

13. All taxes due the commonwealth by said company shall be
paid in lawful money of the United States, and not in coupons.

14. This act shall be in force from its passage, but the general
assembly of the state of Virginia reserves to itself the right to
modify, alter or repeal this act at any time hereafter.