Chap. 690.—An ACT to incorporate the Culpeper and Fredericksburg railway
company.

Approved March 5, 1894.

1. Be it enacted by the general assembly of Virginia, That John
F. Rixey, A. G. Willis, L. G. Johnson, C. Jones Rixey, G. 8. P. Tup-
lett, G. B. W. Nalle, David Karn, John S. Barbour, St. George R.
Fitzhugh, George W. Shephard, Charles E. Hunter, L. O. Magrath,
Horace F. Crismond, Terrence McCracken, Isaac Hirsh, M. B. Rowe,
and their associates and successors, be, and they are hereby, incorpo-
rated and made a body politic and corporate under the name and
style of the Culpeper and Fredericksburg railway company, in which
name it shall have perpetual succession and a common seal; may
sue and be sued, plead and be impleaded, contract and be contracted
with, and shall have and exercise all the right, powers and privi-
leges, and be subject to all the duties and obligations of corporations
of a like character under the laws of the state of Virginia, with
power to construct, equip, maintain and operate a railroad line from
the town of Culpeper, in the county of Culpeper or its vicinity, to
the city of Fredericksburg or its vicinity, upon such route as may
be adopted by said company, and to use such motive power and to
construct such line of railway of such gauge as it may prefer: pro-
vided that said railroad shall be commenced within two vears and
completed within five years from the passage of this act.

2. The capital stock of the said company shall be not less than
fifty thousand dollars nor more than five hundred thousand dollars,
divided into shares of fifty dollars each. Each share of said stock
shall entitle its holder to one vote in all meetings of the stock-
holders. :

3. At any time within two years after the passage of this act, a
majority of the corporators heretofore named, after any three of them
shall have first given notice of the time and place of such meeting
by publication once a week for two successive weeks in a newspaper
published in the city of Fredericksburg and in the town of Culpeper,
may meet together and organize the company by electing a board of
directors of not less than five nor more than fifteen persons in num-
ber, who shall hold office for two yearéand until their successors
are chosen, and who shall choose a president, a vice-president and a
secretary and a treasurer, of whom the first two named shall be
chosen from the members of the board of directors. The board of
directors may fill any vacancy in their own body or the offices of
president, vice-president, secretary or treasurer, caused by death or
otherwise, and shall elect such other officers as may be necessary to
carry on the business of the company, all of whom shall be remova-
ble at the pleasure of the board of directors, and shall fix the com-
pensation of the president, secretary and treasurer, and other officers.

4. As soon as the company is organized by the selection of the
board of directors, president, vice-president, secretary and treasurer,
the company shall open books for subscription to the capital stock
of the said company, in such places and under such regulations and
provisions, and upon such terms as to payments, and so forth, as the
board of directors may prescribe; and when fifty thousand dollars
is subscribed to the capital stock, and a sum of money equal to five
per centum of the same is paid into the treasury of the said com-
pany, the company shall be thereupon fully organized for the trans-
action of business, and may adopt by-laws for the government of the
company, and take such further action as the interests of the com-
pany may require. The by-laws of the said company shall pre-
scribe the times and places for the meetings of the stockbolders, and
the elections of directors to succeed those first chosen, the method and
manner of calling special meetings of the said stockholders, and
also the time, method and manner of giving notice of such regular
or special meetings; but the said by-laws, as well as the number of
directors, may be changed at the discretion of the board of directors,
with the assent of the majority of the stock voting in a regular or
special meeting assembled.

5. The said company shall have the power to receive personal
property, rights of way, services, franchises or other privileges
necessary for its use,and land in payment for subscriptionsof stock,
except for the five per centum on the first subscription of fifty thou-
sand dollars, mentioned in section four hereof, which shall be paid
in cash; such lands, personal property, rights of way, services, fran-
chises or other privileges to be received at such valuations as the
board of directors or their duly authorized agents may assent to.
The said company shall have power to borrow money for its pur-
poses, and to secure the same by mortgage upon its works, franchises
and income, or other estate, real or personal; and it shall have au-
thority to receive subscriptions to its capital stock from the counties
and municipalities through or into which its line of road is located,
but such local subscriptions shall be limited to four thousand dol-
Jars per mile of track in counties, and twenty per centum of the as-
sessed value of property in incorporated cities and towns, and by a
majority vote of the stock voted in by duly authorized, regular or
special meeting of the stockholders, may be authorized to sell any
unsold shares of stock at a price less than par, upon such terms as
may be prescribed by the stockholders.

6. The said company shall be authorized to cross any line of rail-
road now constructed, or which may be hereafter constructed, at a
grade, upon condition that it unite with the company or companies
whose lines it so crosses in employing such watchmen as it may be
necessary to keep stationed at such crossing to avoid accidents or
collisions; and it shall also be authorized to acquire such water
rights on the Rapidan or Rappahannock rivers, or on any stream in
Culpeper, Orange, Stafford or Spotsylvania counties, as it may re-
quire in operating its said line of road, and for this purpose may
build dams across or in any of or all of said streams at such places
as shall be necessary or convenient for the purposes of the said com-
pany, and erect and maintain races for the purpose of utilizing such
water power in the manner prescribed by law for condemning land
for mill dams, mill sites, races, and so forth, and for ascertaining
the damage of adjacent land-owners, and shall be authorized to buy,
sell or lease water rights and power for- mining, manufacturing,
lighting or heating purposes. -

7. Said company shall also have power to hold, by purchase or
gift, real estate, in fee for one year or for life, in Culpeper, Spotsyl-
vania, Orange or Stafford counties, or in the city of Fredericksburg,
including its right of way, and to sell or encumber or lease real
estate so held, to erect buildings or other improvements thereon,
either for dwelling, mercantile or manufacturing purposes, and to
operate, sell or lease the same.

8. Said company shall have authority to build a branch line or
branch lines from such points along its main line as the board of
directors may think best: provided, however, that none of such
branch lines shall exceed ten miles in length.

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