Chap. 431.—An ACT to incorporate the Portsmouth, Pig’s Point, and Newport
News railway, ferry, and hotel company.

Approved February 26, 1896.

1. Be it enacted by the general assembly of Virginia, That Henry
Kirn, Joseph T. Duke, R. T. Hosier, R. H. Norfleet, D. W. Pratt,
C. R. Warren, George Barnes, P. O’Conner, K. R. Griffin, F. Wies-
dorf, R. P. Bunting, M. W. Dennis, J. F. Pace, John H. Bassett, and
W. B. Carney, of Virginia, or such of them as may accept the pro-
visions of this act, their associates, successors, or assigns, be, and
they are hereby, incorporated and made a body politic and corporate
under the name and style of the Portsmouth, Pig’s Point, and New-
port News railway, ferry, and hotel company, and as such are autho-
rized and empowered to locate, construct, equip, and operate a
railway, either by steam or electricity, as said company may deem
proper, of standard gauge, commencing at a point at or near the city
of Portsmouth, on the west side of Elizabeth river, state of Virginia,
running thence in a northwesterly direction through the county of
Norfolk to Pig’s Point, in the county of Nansemond, and from the
last named point, by a steam ferry, to the city of Newport News;
and for the use of said ferry it shall be lawful for the said company
to own, equip, lease, charter, and run one or more steamboats for
the transportation of freight, passengers, and vehicles; and in con-
nection with said railroad and ferry it shall be lawful for said com-
pany to construct and operate a hotel at Pig’s Point, and also to
erect and maintain bridges between the city of Portsmouth, in the
county of Norfolk, and Pig’s Point, in the county of Nansemond;
and to build and maintain wharves necessary for the purposes of
said company.

2. The said company shall have perpetual succession, and have
power to sue and be sued, plead and be impleaded, defend and be
defended in all courts, whether in law or in equity; and may make
and have a common seal, and alter and renew the same at pleasure ;
and shall have power and enjoy all the rights and privileges of a
corporation or body politic in the lands which it may acquire under
this act for the purposes of the company.

3. The capital stock of the said company shall not be less than
fifty thousand dollars nor more than eight hundred thousand dollars,
issued in shares, the par value of which shall not be less than one
hundred dollars each, as the board of directors shall from time to
time prescribe; and the directors may receive cash, labor, material,
real or personal property, in payment of subscription to the capital
stock, at such valuation as may be agreed upon between the direc-
tors and subscribers; and may make said subscriptions payable in
such manner or amounts and at such times as may be agreed upon
by the directors and subscribers.

4. It shall be lawful for said company to borrow money and issue
and sell its bonds from time to time for such sums and on such
terms as its board of directors may deem expedient and proper in
the prosecution of any of its works; and it may secure the payment
of said bonds by mortgages or deeds of trust upon all or any portion
of its property, real, personal or mixed, its covenants, contracts, and
privileges, and its chartered rights and franchises, including its
franchise to be a corporation; and it may, as the business of the
company may require, sell, lease, convey, and encumber the same.

5. The said company is authorized and empowered to locate and
operate lateral or branch roads from any point on its line to connect
the said railway and ferry with that of any other railroad, railway
or transportation company now or hereafter constructed or operated ;
and the said company may connect or unite its said railroad with
that of any other company, or consolidate or merge its stock, pro-
perty and franchise with those of any other company operating or
authorized to operate a connecting line of railroad, railway or trans-
portation company upon such terms as may be agreed upon between
the companies so uniting or connecting, merging or consolidating ;
and for that purpose power is hereby given to it, or such other com-
pany or companies, to make and carry out such contracts as will fa-
cilitate and consummate such connection, merger or consolidation,
provided that a copy of every such contract of consolidation and
merger shall be filed in the office of the board of public works.

6. The said company may acquire, either by purchase or condem-
nation, according to the laws of Virginia, the lands required for the
right of way of its railway, the necessary stations, depots and
wharves for its operation, and the construction and maintenance of
a hotel at Pig’s Point; provided that the lands so acquired shall not
exceed one hundred acres, exclusive of its roadway; provided, how-
ever, that no property belonging to any other transportation company
or work of internal improvement shall be condemned.

7. The said company shall be required to commence construction
within two years from the passage of this act, and to be in operation
within five years thereafter; otherwise the powers, privileges and
franchise hereby granted shall be void.

8. The persons first named in this act, or any five of them who
shall accept the provisions thereof, shall have the power and author-
ity of a president and board of directors for the purpose of organiza-
tion, and for all other purposes. They shall continue in office until
their successors shall be elected and qualified. Each stockholder in
the company shall at all meetings or elections be entitled to one vote
for each sharo of stock registered in his name.

9. The board of directors shall elect one of their members presi-
dent, and may fill any vacancy that may occur in said board, unless
by removal, in which case the same shall be filled by the stockhold-
ers in general meeting. Whenever the minimum amount of the cap-
ital stock shall have been subscribed and the board of directors shall
have elected a president, said company shall be considered legally
organized, and may proceed to the transaction of business.

10. It shall be lawful for the said company to establish offices and
agencies at such place or places as may be deemed proper, but the
principal office of the company shall be located in the city of Ports-
mouth, Virginia.

11. All taxes shall be paid in lawful money, and not in coupons.

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