Chap. 279.—An ACT to incorporate the Norfolk and Newport News ferry com-
pany.
Approved February 11, 1896.

1. Be it enacted by the general assembly of Virginia, That L.
H. Shields and L. D. Smith, of Norfolk, Virginia; John B. Kimber-
ley, of Old Point, Virginia; J. L. Marye, junior, of Newport News,
Virginia, and Samuel D. Davis, of Richmond, Virginia, or any five of
them, their associates and successors, are herehy constituted_a body
politic and corporate by the name of the Norfolk and Newport News
ferry company, and as such shall have all the franchises, rights,
privileges, and immunities of a corporation under the laws of the
state of Virginia.

2. The said company shall have the right to purchase, lease, hold,
equip, furnish, and operate two or more steamboats or other vessels
for the purpose of establishing and maintaining a ferry between the
city of Norfolk and the town of Newport News, and between Old
Point, Willoughby Spit, Norfolk, and intermediate points, and may
convey and transport passengers, teams, vehicles, freight, and all
other things and persons which in the opinion of the board of direc-
tors may be desirable; and the said company shall have the right to
charge and collect by due process of law such reasonable tolls, rates,
or charges for such conveyance or transportation as the board of
directors may prescribe.

3. The capital stock of the said company shall not be less than
ten thousand dollars, nor more than one hundred thousand dollars,
and each share shall be of the par value of one hundred dollars, and
entitled to one vote.

4, A majority of the corporators above named may organize said
company by electing a president and board of directors, who shal!
hold office for one year, or until their successors are elected, and may
elect or appoint such other officers as may be necessary for the man-
agement of the company’s business, and thereupon they shall have
and may exercise all the powers and functions of acorporation ; and
it shall be lawful for the said board of directors to receive subscrip-
tions to the capital stock of the company and accept in payment
therefor, either 1n whole or in part, money, services, labor, or mate-
rials, or such other property or thing as may be available for the
purposes of the company, and to issue said stock as the same shal!
be paid for.

5. The said company may acquire and hold, by lease, purchase,
condemnation, or otherwise, such real estate at its several termini,
respectively, as may be needed for its purposes, and may build there-
on such docks, wharves, warehouses, or other structures, as may be
necessary or proper: provided that no real estate or other property
belonging to any work of internal improvement company shall be
taken by condemnation; and may borrow money, and for that pur-
pose may issue bonds, secured by mortgage or deed of trust on its
franchises and property, and may sell, lease or otherwise dispose of
its franchises, rights and property to any other person or persons.
6. All taxes or other demand due the commonwealth by the said
company shall be paid in lawful money of the United States, and
not 1n coupons; and the said company shall carry out the provisions
of this act within three years from its passage.

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