Chap. 604.—An ACT to incorporate the Culpeper, Rappahannock and Madison
railway company.

Approved March 8, 1894.

1. Be it enacted by the general assembly of Virginia, That C.
I. Rixey, W. P. Hill, J. Messinger, C. B. Cline, Robert Booten, W.
W. Chelf, S. L. Cooper, R. W. Miller, S. Russell Smith, John F.
Rixey, H. C. Burrows, C. M. Waite, David Karn, Charles Forbes, S.
S. Bradford, W. E. Coons, I. F. Brooke and I. W. Coons, of Culpeper
county; R. E. Miller, H. M. Smith, H. M. Miller and P. H. O’Ban-
non, of Rappahannock county; William J. Cave, James Hay, Joseph
N. Neiler, J. F. P. Kite, J. C. Utz and William Early, of Madison
county, or such of them as may accept the provisions of this act,
their associates, successors and assigns, be, and they are hereby, in-
corporated and made a body politic and corporate under the name
and style of the Culpeper, Rappahannock and Madison railway com-
pany, and by that name shall be known in law, and as such is au-
thorized and empowered to locate, construct and operate, by steam,
electricity or other motive power, a line of railroad commencing at
a point within the corporate limits of the town of Culpeper, in Cul-
peper county, Virginia, and running thence to such points in Rap-
pahannock and Madison counties, and by such routes as may be
deemed suitable by the board of directors of the said compary.

2. That 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 the courts, whether in law or in equity, and may
make and have a common seal, and alter and renew the same at
pleasure, and shall have and possess and enjoy all the rights and
privileges of a corporation or body politic and necessary for the
purposes of this act.
3. The capital stock of the said company shall not be less than
one hundred thousand dollars nor more than two millions of dollars,
divided into shares, the value of which shall not be less than fifty
dollars per share, under such regulations as the board of directors of
the said company sha]! from time to time prescribe ; the directors may
receive cash, labor, material, real and personal property, suited to the
business of the company, in payment of subscriptions to its capital
stock at such valuation as may be agreed upon with the subscribers.

4. It shall be lawful for the said company to acquire, by donation
or purchase, lands for right of way, depots, stations, shops and other
purposes necessary for the successful construction and operation of
its road in any of the counties through which it is authorized to con-
struct its line of road or branches thereof.

5. It shall be lawful for said company to borrow money, or issue
and sell its bonds from time to time for such sums and upon such
terms as its board of directors may deem expedient and proper, and
to secure the payment of such bonds by mortgages or deeds of trust
upon all or any portion of its property, railroads and franchises. ~

6. The said company is authorized and empowered by such route
as it may select, to locate, construct, equip and operate lateral or
branch roads as may be necessary for the accommodation of the pub-
lic and to bring out the products of the counties before mentioned,
or to connect with any road that is now or may hereafter be con-
structed, not to exceed twenty miles in length.

7. The said company may acquire by condemnation, according to
the laws of Virginia, the lands required for the right of way of ita
railroads and the necessary stations, depots and shops for its opera-
tion, and may connect or unite its railroads with that of any other
railroad company now or hereafter constructed, and may consolidate
or merge its stock, property or franchises with that of any other con-
necting railroad company, and may subscribe to the stock of any
connecting railroad now or hereafter to be constructed, upon such
terms as may be agreed upon by the directors of the companies so
uniting or consolidating, and for that purpose power is hereby given
and granted to it and to such other company or companies to make and
carry out such contracts as will facilitate and consummate such
connection, merger or consolidation: provided that a cepy of every
such contract of consolidation or merger be filed in the office of the
board of public works.

&. That the said company shall be required to commence the con-
struction of said railroad within two years from the commencement
of this act, and to complete the construction of its main line within
five years thereafter, or otherwise the powers and privileges and
franchises hereby granted shall be annulled and become void.

9. That W. P. Hill, S. Russell Smith, J. A. Brooke and David
Karn, for Culpeper county; R. E. Miller and Charles Greene, for
Rappahannock connty, and James Hay, for Madison county, or such
of them as shall accept the provisions of this act, shall have power
and authority of a president and board of directors for the purpose
of organizing and all other purposes. They shall constitute the
board of directors for the first year. and shall continue in office until
their successors shall be elected and qualify. Each stockholder in
the company shall at all meetings or elections be entitled to one
vote for each share of stock registered in his name.

10. The board of directors shall be stockholders of the said com-
pany. They shall appoint one of their members president and may
fill any vacancies that may occur in said board, unless by removal,
in which case the same shall be filled by the stockholders in general
meeting.

11. Whenever ten per centum of the capital stock shall have been
subscribed and the board of directors shall have elected a president,
and the proper tax on this charter has been paid, the said company
shall be considered legally organized and may proceed to the trans-
action of business.

12. No stockholder in the said company shall be held liable or
made responsible for its debts and liabilities in a larger or further
sum than the amount of any unpaid balance due the said company
for stock subscribed for by said stockholder.

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

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

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