Chap. 608.—An ACT to incorporate the River-Front railroad company.

Approved March 8, 1894.

1. Be it enacted by the general assembly of Virginia, That John
M. Wirgman, William H. Triol, J. Walter White, Frederick W.
Halsey, Charles Adamson and Joseph Lutz, or such of them as may
accept the provisions of this 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 River-Front railroad
company, and by that name shall be known in law, and as such are
authorized and empowered to locate, construct, equip and operate a
Tailroad, commencing ata point on or near the Elizabeth river, in
the city of Portsmouth, and running thence toa point in Norfolk
county on the line of the Norfolk and Western railroad company
between the Dismal Swamp canal and the Jerico canal, to be here-
after determined by the stockholders and directors of the River-
Front railroad company, with the right to extend the same, by such
Toute as may be deemed most advisable by the directors of the said
River-Front railroad company, to a point in Norfolk county on the
line of the Norfolk and Southern railroad company: provided that
where such extension of it shall be built crosses the said Dismal
Swamp canal and the southern branch of the Elizabeth river, the
crossings shall be made by means of draw-bridges above or south of
the bridges of the Norfolk and Western railroad, and with draws of
sufficient width and so located and constructed as to obstruct the
passage of, as little as possible, vessels and other traffic by water now
or at any time hereafter passing up or down the said canal and
branch, and that the said draw-bridges shall be constructed, main-
tained and operated at the expense of the said River-Front railroad
company.

2. 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 in law or in equity, and may make
and have a common seal and alter and 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 said company shall not be less than ten
thousand dollars, and may from time to time be increased to any
amount not exceeding one million dollars by issue and sale of shares,
preferred or common stock, or both, upon such terms and conditions
and under such regulations as the board of directors of said com-
pany shall prescribe, the par value of which shall] not be less than
one hundred dollars; and the directors may receive cash, labor, ma-
terial, bonds, stock, real or personal property in payment of sub-
scriptions to the capital stock at such valuation and at such prices
as may be agreed upon between the directors and the subscribers,
and may make such subscriptions payable in such manner or
amounts and at such times as may be agreed upon with the sub-
scribers; and whenever one hundred shares shall have been sub-
scribed to and the sum of one thousand dollars paid in cash, the
subscribers, under the direction of any five of the incorporators here-
inbefore 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 corporation 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 allor 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 shal] re-
quire, sell, lease, convey and encumber the same.

5. It shall be lawful for said company to subscribe to and hold shares
in the capital stock of any steamship, wharf, warehouse, manufac-
turing or other corporation, and any steamship, wharf, warehouse,
manufacturing or other corporation may subscribe to, guarantee or
hold the stock or bonds of the said company.

6. The said company is authorized and empowered to locate, con-
struct, equip and operate any lateral or branch roads or tramways,
not to exceed twenty miles in length, which a majority of its stock-
holders may determine toconstruct, maintain, equip and operate, and
by such route as may be determined by its board of directors; and
the said company may connect or unite its said road with that of
any other company or companies, 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, upon such terms and under such name as may be agreed
upon between the companies so uniting or connecting, merging or
consolidating; and for that purpose power is hereby given 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 consoli-
dation, or any lease or sale: provided that a copy of every such con-
tract of any consolidation and merger be filed in the office of the
board of public works.

7. The company may acquire by condemnation, according to the
laws of Virginia, the lands required for the right of way of its rail-
road and the necessary stations and depots for its operation.

8. The said company shall be required to commence the construc-
tion of the said railroad within two years from the passage of this
act, and to complete the same within five years thereafter, otherwise
the powers, privileges and franchises hereby granted shall be ipso
facto 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 president and board of directors of said company
may enact such by-laws, rules and regulations for the management
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
accept 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
any county adjoining another county through which such line passes,
may, pursuant to the general laws of Virginia, subscribe to the capi-
tal stock of the said railroad company, and the said company is au-
thorized to accept the same.

12. Whenever the corporation shall exercise any of the privileges
conferred by this act it shall be liable to the same taxes as may be
imposed by law upon other like corporations or persons exercising
like privileges, and all taxes due the commonwealth by said com-
pany shall be paid in lawful money of the United States, and not in
coupons.

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