Chap. 181.—An ACT to incorporate the Danville and Riverside railway
company.

Approved, January 80, 1896.

1. Be it enacted by the general assembly of Virginia, That T. B.
Fitzgerald, John H. Schoolfield, James E. Schoolfield, R. A. School-
field, F. X. Burton, W. P. Bethell, R. A. James, C. G. Holland, James
G. Penn, B. F. Jefferson, J. N. Wyllie, R. I. Anderson, H. R. Fitz-
gerald and James P. Harrison, or such of them, not less than ten,
as may accept the provisions of this act, and such persons, natural
and artificial, ag may hereafter in accordance herewith become asso-
ciated with them be, and they hereby are, made and constituted a
body politic and corporate by and under the name of the Danville
and Riverside railway company, and by that nanie sball have all the
powers, rights and franchises of other like corporations under the
general laws of this state and shall have the right to locate, con-
struct, equip, maintain and operate a standard gauge railroad to be
operated by steam or electricity from a point in or near Danville or
Neapolis, Virginia, thence through the intervening territory to a
point or points on the line of North Carolina, Tennessee, Kentucky,
or West Virginia, west of Marion county, West Virginia.

2. The capital stock of said company shall not be less than twenty-
five thousand nor more than five million dollars to be divided into
shares of the par value of one hundred dollars each.

3. The said company shall be organized under this act within one
year from the passage, by the corporators aforesaid, or not less than
ten of them, after notice published for not less than fifteen days in
the columns of a daily paper published in Danville, Virginia, of the
time and place of meeting of such eorporators for the purpose, who
shall then, or if less than ten corporators be present at an adjourned
meeting, organize said company by electing a president and board of
directors of not less tban five nor more than nine members, exclusive
of said president, who shall be a member thereof ex-officio; anc
thereafter the general laws of this state in such cases made and pro.
vided in reference to incorporated and internal improvement com.
panies shall in all respects apply to this company, except in so fa
as inconsistent with the provision of this act, and the said organi
zation so affected shall continue for one year and until the first an
nual meeting of the stockholders thereafter.

4. The board of directors shall have the power to appoint a vice.
president, secretary, and treasurer, and such officers as may be
deemed necessary and beneficial to said company; to receive sub.
scriptions to the capital stock, and to make all requisite and prope!
arrangements to locate, construct, equip, maintain, and operate the
said railroad, and to conduct its affairs until the first annual meet-
ing of the stockholders according to law.

5. The said company may receive subscriptions to its capital stock
from persons, natural or artificial, public or private, and also may
receive in subscriptions to its capital stock or by donation or other-
wise, lands, mines, property, material, and labor, and may sell, lease.
or otherwise dispose of, all lands or other property so subscribed o1
donated; provided that not more than twenty thousand acres of
land shall be held by said company at any one time.

6. The said company may locate, construct, equip, maintain, and
operate branch and lateral roads not exceeding twenty-five miles in
length.

7. The said company may acquire by contract, lease, purchase, or
consolidation the property or franchises of any connecting railroad,
which is not a parallel or competing line, on such terms as may be
mutually agreed upon; and so the said company may sell, lease, or
transfer its franchises and property, in part or as a whole, to any
such connecting line of railroad.

8. The said company may borrow money, issue bonds or other evi-
dences of debt, and secure the same by one or more mortgages or
deeds of trusts or otherwise, upon its property, rights and franchises
or any part thereof.

9. The principal office of the said company shall be in Danville
or Neapolis, Virginia.

10. Work of construction of the said railroad shal] be begun within
one year, and completed within five years from the passage hereof.

11. All taxes assessed upon said company shall be paid in lawful
money of the United States, and not in coupons.

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