Chap. 165.—An ACT to incorporate the Chesterfield railroad company.

Approved January 27, 1896.

1. Be it enacted by the general assembly of Virginia, That Augus-
tine Royall, I. P. Gilliam, George E. Gary, R. G. Wood, and M. A.
Cogbill, all of the county of Chesterfield, and such persons and cor-
porations as théy may associate with them, and their successors, be,
and they are hereby, constituted a body politic and corporate by the
name of the Chesterfield railroad company, and as such shall have
all the rights, powers, privileges, and immunities of a corporation
under the laws of the state of Virginia. ;

2. The said company may construct, equip, and maintain a rail-
road from Petersburg, or some point on the Appomattox river
opposite to or near the said city of Petersburg, to the city of Rich-
mond, or some point on Jamesriver opposite the said city of Richmond
or into the city of Manchester, or from the latter point to the city of
Petersburg, for the transportation of passengers and freight, or
either of them, by electrisity, steam, or any other power hereinafter
discovered that may be adapted to the uses of the company, and
for such transportation may charge fares or tolls.

3. A majority of the corporators hereinbefore named may organize
the said company by eleeting a president and board of directors,
who shall hold office for one year, or until their successors are
elected, and may elect and appoint such other officers as may be
necessary for the management of the company’s business and
affairs, and thereupon they shall have and exercise all the general
powers and functions of a corporation, but they shall provide for
the payment of taxes on charter and other expenses of organization
before the books of subscription are opened.

4, The directors of said company, elected as provided in the pre-
ceding section, shall have power to fix salaries or compensation
of the officers, to receive subscriptions and issue capital stock of
said company from time to time as they may deem expedient until
the said stock has been fully taken, and it shall be lawful for said
directors to accept in payment for such subscription, either in
whole or in part, money, services, labor, material, land, bonds, land
or other damages, or such other property as may be available for the
purposes of said company, or they may pay for the same in stock.

5. The capital stock of the said company shall not be less than
fifty thousand dollars, nor more than one hundred thousand dollars,
to be divided into shares of the par value of one hundred dollars
each, and every share shall be entitled to one vote,

6. It shall be lawful for the directors of the said company to issue
bonds or other evidences of debt, and to secure payment of the prin-
cipal and interest of the same by mortgages or deeds of trust upon
the franchises and property of said company; and the said com-
pany may have its bonds endorsed and guaranteed by trust compa-
nies to other corporations, and may pay for such endorsement and
guarantee in money or in stock of the said company, or both, as they
may elect.
7. The said company may consolidate with any other transporta-
tion, traction, or railroad company which is not a competing line,
and may construct, equip and maintain lateral branches of said rail-
road of not more than twenty miles in length to any coal mine,
manufacturing establishment, or to any dock on deep water in the
county of Chesterfield.

8. The construction of the railroad hereinbefore authorized shall
be commenced within two years and completed within five years
from the passage of this act.

9. All taxes and other demands due the state by said company
shall be paid in lawful money of the United States, and not in cou-

ons. ,
10. This act shall be in force from its passage.