An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1895/1896 |
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Law Number | 233 |
Subjects |
Law Body
Chap. 233.—An ACT to incorporate the Herndon and Aldie railway company
Approved February 5, 1896.
1. Be it enacted by the general assembly of Virginia, That Jacot
W. Starr, John 8. Duffie, R. Allison Baker, Charles R. Starr, Frank
M. Ballou, F. P. Starr, Joel Grayson, Benjamin B. Detwiler, Benja-
min C. Garrett, W. Floyd Middleton, Edwin L. Detwiler, Enos L.
Garrett, R. Bradshaw, Andrew G. Hutchinson, Ferdinand D. Steph-
enson, Henry A. Johnson, of Fairfax county, Virginia; A. Leigh,
junior, Columbus Choate, Fred. W. Mitchell, Henry Garrett, Guy E.
Mitchell, and such other persons as may hereafter be associated with
them and their successors, be, and are hereby, constituted a body
corporate and politic, to be known as the Herndon and Aldie railway
company.
2. The capital stock thereof shall be one hundred thousand dol-
lars, but the same may be increased, not to exceed one-half million
dollars, at the pleasure of a majority of the holders of shares repre-
senting a majority of the capital stock at the time such meeting
shall be held, and the majority of the whole issue of stock be then
present at such meeting.
3. The capital stock shall be in shares, each of the par value of
one hundred dollars, and each share shall be entitled to one vote.
4. Whenever the sum of ten thousand dollars shall be subscribed
to said capital stock of said company, and two per centum thereof
paid upon each subscription in cash, lands, property or other thing
of value, the subscribers to said stock who shall have made such
or greater payment shall be stockholders in said company ; then they
shall meet in the town of Herndon, in Fairfax county, and organize
this company by electing from among the stockholders not less than
five nor more than nine persons, who shall be the board of directors
for and of this company, each share being entitled to one vote; this
board of directors shall, from among their own number, select one
of them to be president of the company, and he shall also be presi-
dent of said board.
5. This corporation, through its board of directors, may constitute
such offices as it sees fit, and may fill the same with persons compe-
tent to discharge the duties appointed to be performed, and it in like
manner may appoint such agents, attorneys, employees, servants
and others as may by the board be thought proper to carry on its
affairs, purposes and designs.
6. This company may receive from any person or corporation
voluntary donations of lands, bonds, stocks, money, or other property
or thing in aid of the construction and equipment of its road; and
may hold and use any such property as part of its capital; and may
sell, hypothecate or dispose of any real or personal property it may
acquire by deeds or conveyance, mortgage, deed of trust, bill of sale
or other form of conveyance or writing, which the board of directors
may direct to be executed by the president and secretary; provided,
that the right of way, road-bed, and franchise shall not in any
manner be disposed of without the consent of a majority of the
stockholders, representing a majority of the stock.
7. It may also receive subscriptions to its capital stock in real
estate, labor, material, or property of any and every sort from per-
sons or individuals, towns, counties, or municipalities within or
without this state, and make such arrangements, contracts, and en-
gagements as it may desire to effect or agree upon, for, about, or
touching the negotiation, pledge, hypothecation, sale, endorsement,
purchase, exchange or otherwise, of any real or other property, right.
franchise or thing it may own, possess, control, or have interest of
any sort in, in order to facilitate, complete, and carry on its worka
and purposes, not inconsistent with the provisions in section five.
8. This company is hereby given power to locate, construct, stock,
equip, work, and operate any wood or iron tramway or railroad of
any gauge the board of directors may elect or determine, with turn-
outs, sidings, switches, stations, depots, and such other conveniences
as may be deemed necessary, from a point on the Potomac river op-
posite the city of Washington, District of Columbia, or westward
thereof; thence through the towns of Herndon, Arcola (Gum
Spring), Aldie, and such other towns as may be deemed most advisa-
ble, to any point or points on the western, southwestern or southern
boundary line of the state of Virginia, either or all, not exceeding
twenty miles in length.
9. Any county, municipality, or town through or in which the
road of said company, or any branch thereof, may be located, may
subscribe to the capital stock of said company in the mode pre-
scribed by law.
10. Said company shall have the right to cross at grade, or over or
under grade, intersect, join, or unite its railway with any other rail-
way now built or constructed, or hereafter to be built or constructed,
at any point on its route upon the grounds of such railway company,
with necessary turnouts, sidings, switches, and other conveniences
in furtherance of the object of its construction; but the said rail-
way company shall not lay its tracks across the tracks of any other
railway company at grade until the terms and plans of such crossing
have been agreed to by such other roads; and should said railroads
not be able to agree upon the terms and plans of such crossing, the
question shall be submitted to arbitration of persons, one selected
by each party; and the arbitrators failing to agree, they shall call
in an umpire to decide between them.
11. Whenever any part or portion of its line or road is built and
ready, this company may equip and operate the same as though the
whole was completed; and it may provide for transportation of
passengers, freight, stock, and all other things, and collect such
charges and tolls therefor as are proper or provided by law.
12. This company may issue shares of stock, and may, from time
to time, declare such dividends thereon as may be in the opinion of
the directors wise and proper, and direct that the same be paid in
cash or in scrip, and to that end they may issue scrip in payment
thereof, redeemable as they may determine. This company may
issue bonds or other evidence of indebtedness, bearing a rate of in-
terest not in excess of six per centum per annum, and secure the
same by a deed of trust upon its real estate, property, franchises,
rights and interests, and may negotiate and sell said bonds or evi-
dences of indebtedness; and it may sell the same for a less sum than
the face value thereof in order to raise money to carry on its affairs
and better its condition; and may make such terms and arrange-
ments concerning the payment of interest thereon and for use of
moneys borrowed by it as it may see fit.
13. This corporation shall be subject to the general provisions of
the statutes in reference to chartered companies in this state when
not in conflict with this act.
14. This company shall make and use a common seal, and shall
have annual meetings of the stockholders, at which its directors
shall be elected; and such annual meetings shall always be at the
place where its central office for the transaction of its general busi-
ness is established, which shall be within the state of Virginia.
15. This corporation shall begin operations and work upon its
road within two years from the date of the passage hereof, and shall
complete the same within five years thereafter.
16. All taxes due the commonwealth by the said company shall be
paid in lawful money of the United States, and not in coupons.
17. This act shall be in force from its passage.