Chap. 569.—An ACT to incorporate the Southern improvement and terminal
company.

In force March 2, 1896.

1. Be it enacted by the general assembly of Virginia, That Levi
Woodburry, C. F. Norment, A. T. Britton, John Callahan, and Odell
S. Smith, their associates, successors, and assigns, be, and they are
hereby, declared a body politic and corporate by the name and style
of the Southern improvement and terminal company, for the pur-
pose of improving lands, constructing and operating wharves, ware-
houses, or hotels, and to do a general wharf and warehouse business
in the city of Norfolk, Virginia, or at any point or points on the
Elizabeth river, Chesapeake bay, or Potomac river, within the state
of Virginia.

2. It shall be lawful for the said company to operate steamships,
steamboats, tugs, or barges for the transportation of freight or pas-
sengers to or from any of the said points within the state of Vir-
ginia, and to any point or points within any state or district on the
waters of the Atlantic ocean or the tributaries thereto outside the
limits of the state of Virginia; and for the purpose of developing
their property the said company may construct and operate lines of
railroads, to be operated by steam or electricity, not to exceed one
hundred miles in length from such point or points where the said
property may be located to any point that they may deem most ad-
vantageous for their purposes.

3. The said company shall have perpetual succession and a com-
mon seal, which it may renew or alter at pleasure, and shall be en-
titled to all the rights and privileges conferred and subject to all the
restrictions imposed by the laws of Virginia as far as the same may
be applicable to and not inconsistent with this act.

4. It shall be lawful for the said company to acquire, in subscrip-
tion to its capital stock or by donation, money, land, or other dam-
ages, labor, material, bonds, or any other means available for their
Purposes, and to receive subscriptions from individuals, other com-
panies, associations, or corporations; and it may run, use, and
operate, by lease or otherwise, the equipments of any other company
upon such terms as may be agreed upon ‘by the party or parties
owning the same.

5. The capital stock of the said company shall not be less than
fifty thousand dollars, divided into shares of fifty dollars each, and
may be increased from time to time with the consent of the majority
of its directors to an amount necessary for the conducting of their
business.

6. Said company, with the consent of a majority of its directors,
shall have the power to borrow money to such an amount as they
may deem proper and necessary, and to issue for any such loan
debentures or bonds of the company, bearing interest at such rates
per annum as the said company may determine; and to secure pay-
ment of such loan or loans said company may execute one or more
mortgages or deeds of trust on any part of its property—real, per-
sonal, and mixed—its charter rights, franchises, and income.

7. The corporators herein mentioned, or any two of them, are
authorized to open books of subscription to the capital stock of said
company at such times and places and upon such notice as they
may determine. Meetings of corporators, stockholders, or directors
may be held at any point in Virginia or the District of Columbia.

8. The said company shall pay all taxes due or to become due to
the state of Virginia in lawful money of the United States, and not
in coupons.

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