Chap. 828.—An ACT to incorporate the Blue Ridge railroad company.

Approved March 5, 1896.

Be it enacted by the general assembly of Virginia, That Wil
Smith, O. H. Dolph, Winfield Scott, J. W. Williams, J. B. Haw.
W.T. James, S. Scott and B. G. Howard, or such of them as
accept the provisions of this act, and such other persons and
rations as they may associate with them, and their successors
288igns, shall be, and they are hereby, constituted and ordained
dy corporate and politic by the name of Blue Ridge railroad
any; shall have all the powers, rights, privileges and franchisee
pnient or necessary to locate, construct, maintain, equip and
ute a railroad, to be known as the Blue Ridge railroad company.
ay be narrow or standard gauge, operated by steam or electri-
from some point on the Norfolk and Western railroad from the
of Roanoke to Radford, and such route as deemed suitable by
oard of directors of said company through Roanoke, Montgom-
Floyd and Carroll counties, or either Roanoke or Montgomery
ties, through Floyd county to Floyd; thence westward to Hille-
_in Carroll county; thence westward to Independence, Grayson
ty. The road may run along parallel across and upon state
3 and turnpikes, if they deem it proper in said counties, by and
the consent of the county judge of the county or the board of
rvisors of the county over the county roads in their county, by
with the consent of the land-owners, with such compensation
ay be agreed upon between the land-owners and the railroad
any, or such as may be fixed by law; and by the name of the
Ridge railroad company shall be known in law.
The said company shall have perpetual succession, and have
r to sue and be sued, plead and be impleaded, defend and be
ided in all courts, whether in law or equity, and may make and
a common seal, alter or renew the same at pleasure, and shall
possession and enjoy all the rights and privileges of corpora-
or body politic in the land and all that is necessary for the
oses of this act.
Capital stock of said company shall not be less than five thou-
dollars, and may from tfme to time be increased not exceeding
nillion dollars, divided into shares of one. hundred dollars each,
suing and sale of shares from time to time for such sums and
3, under such regulations as the board of directors of said com-
shall from time to time prescribe; and the directors may re-
cash, labor, material, real or personal property, loans, work or
‘means available for its purpose in payment of subscription to
al stock, at such valuation as may be agreed upon between the
tors and subscribers, and may make such subscriptions payable
ch manner or amounts and at such times as may be ag
with directors and subscribers. It shall be lawful for said
any to borrow money and issue and sell! its bonds from time to
for such sums and on such terms as its board of directora may
2©mm expedient and proper in the prosecution of any of its works,
mad may secure the’ payment of said bonds by mortgages or deeds of
“ust upon all or any of its property, real and personal and mixed,
“8 covenants, contracts and privileges, and its chartered rights and
ra@mnchises, including its franchise to be a corporation, and it may as
me business of the company may require, sell, lease, convey and en-
aarmber the same. The said company is authorized and empowered
® locate, construct, equip and operate lateral or branch roads or
ramways from any point on its line of railroad, not exceeding
wenty miles in length, to any springs or ore banks, mines or other
yperations in said county or counties adjacent thereto, or to connect
he said line with that of any other railroad now or hereafter to be
-Onstructed in or to any of said counties; and the said. company
may connect or unite its said road with that of any other company, or
-onsolidate or merge its stock, property and franchises with those of
zny other company, operating or authorized to operate a connecting
ane of railroad, upon such terms as may be agreed upon between the
sompany so uniting or connecting, merging or consolidating; and
for that purpose authority is hereby given to it and to such other
company or companies to make and carry out such contracts as will
facilitate and consummate such connection, merger or consolidation ;
provided that a copy of every such contract of consolidation and
merger shal! be filed in the office of the board of public works.

4. That any county, town or city along the line of said railroad,
or any county, town or city adjacent to another county through
which the line passes, or any county, town or city benefited by
said railroad, may subscribe to the capital stock of said Blue Ridge
railway company an amount not to exceed two hundred thousand
dollars. Notwithstanding it will require more than one-fifth of the
capital stock, and it will require an imposition of an annual tax in
excess of twenty cents on the one hundred dollars, as provided in
the code of eighteen hundred and eighty-seven, section twelve hun-
dred and forty-three, the aforesaid section twelve hundred and forty-
three of the code, as to the amount of capital stock subscribed and
the limitation of annual tax of twenty cents on the one hundred
dollars, shall not be applicable to any election held under this act,
or bond issued for stock under this act. The principal of said bonds
shall be payable by said county or town in a period not later than
forty years from date of same, and the interest thereof shall be six
per centum, shall be payable annually, and there shall be attached
to the said bonds coupons for the interest aforesaid, which shall be
receivable at the office of the treasurer of said county, city or town in
payment of all county, city and town taxes and levies due said county,
city or town by the bearer at and after maturity of the coupons re-
spectively. The said corporation is hereby granted the authority
and power to cross the railroad of any other corporation at grade or
otherwise, not unnecessarily hindering or impeding the free opera-
tion of such railroad. The said corporation shall have the right and
power to construct its railway upon and through any land in the
state of Virginia along the route indicated in section one, and the
right of way for said railway is hereby fixed, not exceeding fifty feet
906 ACTS OF ASSEMBLY.

on either side of the centre of the roadbed of said railway, togethe:
with the right of eminent domain, and take timber, stone, earth anc
material from any land adjoining said right of way, making compen
sation for the same.

5. The said company shall be required to commence the construc.
tion of said railroad within two years from the passage of this act anc
to complete the construction of its main line within five years after
otherwise the powers, privileges and franchises hereby granted shal
be, ipso facto, void.

6. The persons first named in this act, or such of them as shall ac
cept the provisions thereof, shall have the power and authority of
president and board of directors for the purpose of organization ;
open books and receive subscriptions to the capital stock; and by
giving five days’ notice to subscribers, the time and place of meeting
to organize, shall proceed at the time and place to organize, and for
all other purposes. They shall continue in office until their succes-
sors shall be elected and qualified. Each stockholder in the com-
pany shall, at all meetings or elections, be entitled to one vote for
each share of registered stock in his name.

7. The board of directors of said company shall appoint one of
their number president, and fill any vacancies that may occur in said
board, unless by removal, in which case the same shall be filled by
the stockholders in general meeting. Whenever ten per centum of
the capital stock shall have been subscribed, and the board of direc-
tors shall have elected a president, said company shall be considered
legally organized, and may proceed to the transaction of the business.

8. No stockholder in said company shall be held liable or made
responsible for its debts and liabilities in a larger or further sum
than the amount of any unpaid balance due the said company for
stock subscribed for by said stockholder.

9. The board of directors may establish offices and agencies at such
places as they may deem proper, but the principal administration
offices of the company shall be located at some point within the state
of Virginia.

10. The said company, by the acceptance of this charter, hereby
agrees to pay all taxes, dues and demands due the state that may
hereafter be lawfully assessed against it in lawful money of the
United States, and not in coupons.

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