Chap. 23.—An ACT tore-instate and amend the charter of the Atlantic, Staun-
ton and West Virginia railroad company.

Approved December 19, 1895.

Whereas a charter was heretofore conferred upon the Atlantic,
Staunton and West Virginia railway company, at the instance of
the chamber of commerce of the city of Staunton, by an act of the
general assembly of Virginia, approved February the fifteenth, eigh-
teen hundred and ninety-two, and was amended by an act approved
February the twelfth, eighteen hundred and ninety-four, but when
the corporators designated proceeded to organize it was found that
the period of ninety days, limited therefor by an act approved Jan-
uary the twenty-second, eighteen hundred and ninety-four, requiring
payment into the state treasury within that time of the fee upon its
charter, had expired; and whereas they are still desirous to pay said
fee and proceed to complete their organization and begin operations,
upon being assured of their rights in the premises; and whereas it
is deemed proper that the charter powers of said company shall be
revived, under the circumstances, in the manner prescribed by the
constitution ; now, therefore,

1. Be it enacted by the general assembly of Virginia, That Henry
Hutcheson, O. K. Lapham, P. H. Trout, T. D. Ranson, Reeves Catt,
J. W. Bodley, and Isaac Witz, their associates, successors, and assigns,
be, and they are hereby, constituted and declared a body politic and
corporate, by the name and style of the Atlantic, Staunton and West
Virginia railway company, with all the rights and privileges per-
taining to corporations under the laws of this state.

2. The capital stock of said company shall be fifty thousand doi-
lars, divided into shares of one hundred dollars each; and said capi-
tal stock may, from time to time, be increased by the board of direc-
tors to any amount not exceeding fifteen million dollars.

3. It shall be lawful for any county, city, town, or individual to
subscribe to the capital stock of said railway company, or any branch
thereof, in the manner the law prescribes.

4. The said Atlantic, Staunton and West Virginia railway com-
pany is hereby authorized, empowered, and permitted to locate, con-
struct, equip, and operate a railroad of standard gauge, with one or
more tracks, having for beginning any point it may select on the
Potomac, York river, or Chesapeake bay, between the York and Poto-
mac rivers; thence running west, by any route the directors may select,
to Staunton, in Augusta county, Virginia; thence west, by any route
they may select, to the West Virginia state line; tooperate the same
with steam, electricity, or any other mechanical power, for the trans-
portation of passengers, freight, baggage, or mails, for fares or tolls.
To establish and maintain on or near its line one or more electric
plants for the purposes of said road, and to erect and operate tele-
graph and telephone lines along its route, and to acquire any pro-
perty or rights needful for the successful conduct of its business.

5. Subject to the general railroad law of this state, it shall be
lawful for the said company to cross at grade, over or under, any
other railroad now constructed, or which shall be hereafter con-
structed, within this state; to construct lateral or branch roads not
exceeding twenty miles each in length, subject to the same limita-
tions and restrictions as the main line; but as to gauge, may be of
such gauge as to the company seems best. It may unite its roads
with any other roads in this state, or that may hereafter be built;
may enter the grounds of such railroads with the necessary sidings,
switches, turnouts, conveniences and facilities as will aid in the fur-
therance of the construction of the said railway, or facilitate the
exchange or handling of passengers and freight between the said
ralway and other railways in this state; but in all cases in which
the said railway company shall subject the real estate of any other
company to its uses, or acquire any of the same, it shall be in the
mode prescribed by law.

6. The said company shall have power to issue and sell bonds at
such times and on such terms as to the directors may seem expe-
dient, or to borrow money in such sums as they may deem necessary
to carry on its work; and in order to secure the payment of its
bonds, or the repayment of the money so borrowed, may create
mortgages or deeds of trust on its chartered rights, franchises and
property. And the said company may receive as subscriptions to
itg capital stock any real or hersonal property that may be agreed
on between the said company and the subscribers, and may exchange
ita bonds for such property, and such property may be chartered
rights and franchises; and it may hold, sell, improve or convey, in
such manner as to the company may seem best, any real estate so
acquired: provided that it shall not hold real estate not needed for
the purpose of the corporation longer than a period of thirty years
from the date of the grant to it of said land.

7, Subject to the laws of this state, the said railroad company
may consolidate, lease, purchase and acquire the franchises, works,
privileges and property of any other railroad company now existing
in this state, or hereafter built, not a parallel or competing line; or
it may consolidate with, lease, purchase or acquire the franchises,
works, privileges and property of any other railroad without this
state whose lines will be thereby made to connect with, or be operated
in connection with, the railway hereby authorized to be built; and
any railroad company heretofore incorporated in this state, the line
of which connects with, or will connect with, the railway hereby in-
corporated and authorized to be constructed, or which lies along its
toute, and could be utilized as a part of its lines, or in lieu of such
branch roads as this company may construct, is hereby authorized
to sell, to lease or convey its works, property, privileges and fran
chises to the Atlantic, Staunton and West Virginia railway company
on such terms as the stockholders of the respective corporations, o
the legally constituted authorities of said respective corporation:
shall agree: provided that in such consolidation, sale, or any othe
manner, this corporation shall never lose its identity or cease to be.
domestic corporation, subject to the jurisdiction of the courts an
laws of this state.

8. The incorporators named in this act shall constitute the boar
of directors for the first year, and shall continue in office until thei
successors shall be elected and qualified. They shall have the powe
and authority of a president and board of directors for the purpos
of organization, and for all other purposes incident thereto. The
shall elect one of their number president of the board, and may ap
point such officers as they deem proper. They shall fill any vacanc
that may occur in the board, or in the office of president, and ma
receive subscriptions to the capital stock of the company.

Whenever ten thousand dollars of the capital stock shall have bee:
subscribed, the board of directors shall proceed to organize the com
pany by the election of a president, a vice-president, secretary, treas
urer and such other officers and agentsas may be required. Thesai
company shall be then considered legally organized, and shall have a!
the general powers conferred upon corporations and chartered compa
nies by the laws of this state, and shall be subject to all the provision
thereof, except in so far as the same are modified by or are incon
sistent with this act.

9. The board of directors of this company is authorized at an
meeting, when the majority of the directors are present, if they deer
it advisable, to change the name of this company.

10. All taxes which may be assessed against said company shal
be paid in lawful money of the United States, and not in coupons.

11. The construction of the said road shall be begun within tw
years from the passage of this act, and the main line shall be com
pleted in this state within five years from the passage of this ac
And unless said company be organized by the appointment of
president and directors within two years from the passage of this ac
its corporate rights and privileges shall cease.

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