Chap. 802.—An ACT to incorporate the Saltville and Mendota railroad com
pany.

Approved March 8, 1894.

1. Beit enacted by the general assembly of Virginia, That George W
Palmer, T. B. Hobbs, C. F. Palmer, James L. White and B. F. Bucha
nan, and such other persons as may become associated with them ir
the manner hereinafter provided, shall be, and they are hereby, con.
stituted a body corporate by the name of the Saltville and Mendots
railroad company, and by that name shall have all the powers, right:
and franchises necessary and proper to construct, equip and maintair
a railroad to be known as the Saltville and Mendota railroad, and tc
run from Saltville, in the county of Smyth, through the counties o!
‘Smyth and Washington, by the most practicable route, to a point on
the South Atlantic and Ohio railroad at or near Mendota, in Wash-
ington county. |

2. The capital stock of said company shal! not exceed one million
dollars, to be divided into shares of one hundred dollars each, each
share being entitled to one vote; and it shall be lawful, when ten
thousand dollars of said stock shall be subscribed, for the persons
hereinbefore named to organize said company by the election of a
president and board of directors and such other officers as may be
necessary, and thereupon they shall have and exercise all the general
powers and functions of a corporation and be subject to all the re-
strictions imposed by the laws of the state of Virginia applicable to
internal improvement, except as the same may be changed or modi-
fied by this act.

3. The board of directors shall have power to issue bonds in sums of
not less than one hundred dollars each, bearing interest at not ex-
ceeding six per centum per annum, the principal and interest pay-
able at such times and places as the board of directors may deter-
mine, and may secure the same by one or more mortgages on the
road, franchises, incomes and real and personal property of the com-
pany, or such parts thereof as may be designated in the mortgages,
and may lease its rolling stock and equipments to any other com-
pany, and may lease from any other company such rolling stock and
equipments.
4. The said company shall commence the construction of its road
within two years from the passage of this act and complete it within
five years.

5. All taxes and dues to the commonwealth shall be paid in money,
and not in coupons.

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