Chap. 95.—An ACT to incorporate the Potomac river power company.

Approved January 21, 1896.

1. Be it enacted by the general assembly of Virginia, That R.
Lancaster Williams, of Richmond, Virginia; R. Walton Moore and
B. F. Mackall, of Fairfax county, Virginia; E. L. McClelland, of
Alexandria county, Virginia; Horace S. Cummings, of Washington,
District of Columbia; Henry L. Townsend, George G. Pierie and
Powell Evans, of Philadelphia, Pennsylvania, and Wilson Wadding-
ton, of New Haven, Connecticut, or such of them as may accept the
provisions of this act, their associates and successors, be, and they
are hereby, incorporated and made a body politic and corporate
under the name and style of “ Potomac river power company,” and
by that name shall be known in law, and shall have perpetual suc-
cession, 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, enjoy and exercise all the rights,
powers and privileges pertaining to corporate bodies and necessary
for the purposes of this act, and may make by-laws, rules and regu-
lations consistent with the existing laws of the state of Virginia for
the government of all under its authority, the management of its es-
tates and properties, and the due and orderly conduct of its affairs.

2. The said company is authorized and empowered to supply to
the public, including both individuals and corporations, within the
counties of Fairfax and Alexandria and elsewhere in the state of
Virginia, and within the state of Maryland and District of Colum-
bia, power in the form of electric current and hydraulic, pneumatic
and steam pressure, or any of the said forms, and in any or all other
forms, for use in driving machinery, and for light, heat and all other
uses to which the power so supplied can be made applicable; and to
fix, charge, collect and receive rates and tolls therefor; and for the
purpose of enabling the company to supply power as aforesaid, the
company is authorized and empowered to buy or otherwise acquire,
generate, develop, store, use, transmit and distribute power of all
kinds, and to locate, acquire, construct, equip, maintain and operate
from a point on the Potomac river in Fairfax or Alexandria county,
by the most practicable route, to be determined by the board of
directors of the company, to such point in the county of Alexandria
as they may select, a line for the transmission of power by wires, on
poles or underground, and by cables, pipes, tubes, conduits, and all
other convenient appliances for power transmission, with such branch
lines in said counties and elsewhere as a majority of the stockhold-
ers of the company may locate or authorize to be located, for receiv-
ing, transmitting and distributing power; and as appurtenances to
the said line of power transmission and its branches, the company
may acquire, own, hold, sell or otherwise dispose of water power and
water privileges in the state of Virginia and elsewhere, and may locate,
acquire, construct, equip, maintain and operate all necessary plants
for generating and developing by water, steam or any other means, and
for storing, using, transmitting, distributing, selling and delivering
power, including dams, gates, bridges, sluices, tunnels, stations and
other buildings; boilers engines, machinery, switches, lamps, motors,
and all other works, structures and appliances, in the state of Vir-
ginia and in the state of Maryland, and the District of Columbia;
provided that the amount of land which the company may at any
time hold within the state of Virginia, for its water powers, and
other works, as well as the land flowed or submerged with the water
accumulated by its dams, shall not exceed five thousand (5,000)
acres, exclusive of right of way.

3. The capital stock of the said company shall be not lessthan
one hundred and fifty thousand dollars, and may, with the consent
of a majority of its stockholders, be increased from time to time to
any additional amount, not exceeding three million dollars, by the is-
sue and sale of shares.of preferred or common stock, or both, upon
such terms and conditions and under such regulations as the board
of directors, with the approval of the majority in interest of the
stockholders of said company, shall prescribe, but the par value of
every share of stock shall be fifty dollars; and the directors, with
like approval of the stockholders, may receive cash, labor, material,
bonds, stock, contracts, real or personal property in payment of sub-
scriptions to the capital stock, and may make such subscriptions
payable in such manner or amounts, and at such times. as may be
agreed upon with the subscribers; and whenever three thousand
shares shall have been subscribed to and the sum of three thousand
dollars paid in cash, the subscribers, under the direction of a ma-
jority of the corporators hereinbefore named, who themselves shall
be subscribers, may organize the said company by electing a board
of directors, and providing for the election or appointment of such
other officers as may be necessary for the control and management
of the business and affairs of said company; and thereupon they
shall have and exercise all the powers and functions of a corpora-
tion under their charter and the laws of this state.

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 for
any of the purposes of the company, and 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 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 shall
require, sell, lease, convey and encumber the same; and it shall be
lawful for said company to subscribe to and hold the stock and bonds
of manufacturing or other corporations, and any manufacturing or
other corporation may subscribe to, guarantee and hold the stock
and bonds of the said company.

5. The said company may connect or unite its lines for the trans-
mission of power with those of any other company or companies, or
consolidate and merge its stock, property and franchises with and
into those of any other company or companies incorporated under
the laws of this state, or of any other state or of the United States,
operating or authorized to operate lines for the transmission of elec-
tric or other power, upon such terms.and under such name as may
be agreed upon between the companies so uniting or connecting,
merging or consolidating, or may acquire the said property and fran-
chises of such other company or companies by lease or purchase ;
and for that purpose power 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,
lease or purchase; 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 in the counties of Alexandria
and Fairfax, by condemnation in the same manner that railroad
companies may, under the laws of Virginia acquire land for their
works, strips of land, not exceeding twenty-five (25) feet in width,
with necessary additional width in deep cuts and fillings, required
by the company for its power transmission lines and all other lands,
not exceeding one thousand (1000) acres exclusive of right of way,
necessary for the construction and operation of its works, as well as
all necessary water, including in the land and water thus described,
water powers, water privileges and land flowed or submerged with
water accumulated by the company’s dams.

7. The said company shall be required to commence the construc-
tion of its works within two years from the passage of this act;
dtherwise the powers, privileges, and franchises hereby granted shall
be forfeited.

8. Each stockholder in the said Company shall at all meetings
and elections be entitled to one vote for each share of stock regis-
tered in his name, and the stockholders of said company may enact
such by-laws, rules and regulations for the management of, said
company as they may deem proper and expedient.

9. The board of directors shall be composed of stockholders of
said company and shall consist of such number as the stockholders
may prescribe from time to time by the by-laws and shall be elected
at the stockholders annual meeting, to be held on such days as the
by-laws of the company may direct, and shall continue in office for
the term of one year from and after the date of their election, and
until their successors are elected and accept the duties of the office
and they shall choose one of their number president, and in case 0
the death, resignation or incapacity of any member of the board o
directors during his term of office, the said board shall choose hi
successor for the unexpired term.

10. No stockholder in the said company shall be held liable o
made responsible for its debts and liabilities in a larger or furthe:
sum than the amount of any unpaid subscription upon his stock.

11. The general assembly of Virginia reserves the right to alter
amend or repeal this charter, and whenever the corporation shall ex
ercise any of the privileges conferred by this act, it shall be liable
to the same taxes as may be imposed by law upon other like corpo
rations or persons exercising like privileges, and all taxes due the
commonwealth by said company shall be paid in lawful money of the
United States, and not in coupons.

12. The principal office of this company shall be located in the
county of Alexandria, state of Virginia.

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