Chap. 369.—An ACT to incorporate the Hinton, New river and western railway
company.

Approved February 18, 1896.

1. Be it enacted by the general assembly of Virginia, That James
T. McCreery, James H. Miller, J. C. James, R. R. Flanagan, and J.
Alexander Parker, and such other persons as may be associated with
them, and their successors, are hereby created and declared to be a
body politic and corporate by the name and style of the Hinton, New
river and western railway company, and by such name shall have
perpetual succession, and may contract and be contracted with, sue
and be sued, make and use acommon seal and alter the same at plea-
sure, and make such by-laws, rules, and regulations for the govern-
ment of said corporation and the conduct of its business as may be
deemed necessary, not in conflict with the constitution and laws of
this state or of the United States.

2. The capital stock of the said company sball not be less than
five thousand dollars, to be divided into shares of fifty dollars each,
and the same may be increased from time to time by additional sub-
scriptions to such amount, not exceeding one hundred thousand dol-
lars, as the stockholders, at any general or special meeting, may
authorize or prescribe. The said company may receive subscriptions
to its capital stock, or payment for its shares to be issued, in money,
material, work, labor, or otherwise, land or other property, upon such
terms as shall be agreed upon or authorized by the board of direc-
tors, and may give preference to a portion of its capital stock over
the residue thereof, or to dividends and the payment thereof.

3. The corporators herein above named, or any three of them, may
receive subscriptions to the capital stock of said company, and when
the minimum capital of five thousand dollars shall have been sub-
scribed, the subscribers thereto may organize said company by the
election of five directors, of whom they shall elect one as president,
to remain in office one year or until their successors are elected.
After organization, as aforesaid, the stockholders, at any general
meeting, may change the number of directors, and may provide for
the proper government of the company by such by-laws as they may
deem fit, as herein above authorized. The president may appoint
such subordinates, agents, and officers as he may deem necessary
and proper to the conduct of the business of the company.

4. The said company is hereby authorized and empowered to
locate, construct, build, equip, operate, and maintain a line of rail-
way to any point on the Norfolk and western railroad between Glen
Lyn and the town of Pearisburg, in the county of Giles, from a
point on the line between the states of West Virginia and Virginia,
on the bank of New river, at the terminus of the line of the Hinton,
New river and western railway company, as authorized under the
charter of the said railway company granted by the state of West
Virginia on the fifteenth day of April, eighteen hundred and ninety-
five, and to connect the same with any line of railroad now built or
authorized to be built, and shall have the right by a majority vote
of the stockholders to consolidate, merge its property and franchises
into any other railroad in either of said states, and shall have
power to execute contracts for the purpose of such connections,
merger, or consolidation, and any other company so formed by such
merger or consolidation, and under such name as it may adopt and
set forth in the contract of consolidation so executed, shall be enti-
tled to all the property, rights, and franchises, and be subject to the
liabilities of the companies so consolidated, and the said named
company shall have power to subscribe to the capital stock or
endorse the bonds of any railroad company or other incorporated
company.

5. The said company shall have power to borrow money to any
amount not exceeding one hundred thousand dollars, to issue and
negotiate bonds and to secure the payment of the same by mortgage,
deed of trust, or otherwise upon the whole or any part of its prop-
erty and franchises, or either. It shall be Jawful for said company
to sell its bonds from time to time for such sums and upon such
terms as its board of directors may deem expedient for the prosecu-
tion of the work and business of thecompany. No stockholder shall
be held individually liable for any of the debts or liabilities of the
company in any further or larger sum than the anfount that may be
due and unpaid upon his stock subscription.
6. It shall be lawful for the said company to acquire, by donation
or purchase, Jands for the right of way, depots, stations, shops, and
other purposes necessary for the successful construction and opera-
tion of its road in any of the counties through which it is authorized
to construct its line of road or branches thereof.

7. The said company is hereby invested with all the powers con-
ferred by the general law of the state applicable to railroad corpora-
tions, and shall be subject to aljl the restrictions of said laws, ex-
copt so far as the same are modified or changed by the provisions of
this act. .

8. The said company, by its acceptance of this charter, thereby
agrees to pay all public dues, demands, and taxes due, or to become
due, the state of Virginia in lawful money of the United States, and
not in coupons.

9. This act is subject to the proviso that the work of construction
hereunder shall be begun within two years and completed within
five years after the passage of this act, unless the time therefor shall
be extended by the general assembly.

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