Chap. 169.—An ACT to incorporate the Point Comfort Beach railway company.
In effect January 31, 1898.

1. Be it enacted by the general assembly of Virginia, That Francis
Seymour, George W. Fulton, Albert D. Winfield, William W. Fulton,
Joseph Deeks, George Lancer, and L. EK. Winson, and such other per-
SONS aS MaY he associated with them. he. and they are herehv. consti-
tuted a body politic and corporate by the name and style of the Point
Comfort Beach railway company.

2. The capital stock of the said company shall be not less than
twenty thousand dollars nor more than two hundred thousand dollars,
to be divided into shares of one hundred dollars each.

3. The said company shall have the power and authority to locate,
construct, maintain, equip and operate a railroad from any point in the
town of Phoebus, Elizabeth City county, Virginia, to be determined
upon by the said company, to a point on the Chesapeake bay, at or
near Point Comfort Beach, Elizabeth City county, by such route or
routes as the said company may adopt. The said company is author-
ized and empowered to locate, construct and operate an extension from
any point of its said road, by such route as it may determine upon, to
Fox Hill, in said Elizabeth City county. The said company may use
the streets of the town of Phabus and the roads of Elizabeth City
county, with the consent of the board of supervisors of said county,
upon making compensation to the abutting landowners in the manner
provided by law.

4. The said company shall have power and authority to transport
passengers, baggage, freight, and mails of the United States, and to
charge and collect fares and tolls for the same, and it may use horses,
mules, steam or electricity, or any or all of said means, to propel its
cars.

The said company shall have power and authority to commence
the construction of its road at any point on its route which it may de-
termine upon, and it may use and operate the same from the time it
shall have been commenced; it shall have power and authority to cross
any other railroad, now or hereafter constructed, upon the terms and in
the manner prescribed hy the general law for one work of internal im-
provement crossing another, and it may unite or connect with any rail-
road, now or hereafter constructed, upon such terms as may be agreed
upon with said railroad.

G. The said company shall have the power and authority to acquire
by purchase, lease, or condemnation according to law, and to hold and
improve all lands which it may deem necessary for rights of way for its
road, and for stations, depots, power-house, and terminal facilities, and
also for any other purposes than those above mentioned which it may
deem necessary and proper and advantageous to its welfare: provided,
that in no ease shall it own more than five hundred acres of land.

«. The said company shall have the power and authority to lease its
said road, or any part thereof; to borrow money for the uses of the cor-
poration, to issue its bonds or notes for the same, and to secure the
payment thereof by deeds of trusts or mortgages on any or all of its
property and franchises.

8. The said incorporators, or any five of them, may, at any time and
place which they may deem proper, and with or without a previous ad-
vertisement thereof, receive subscriptions to the capital stock of the said
company. Subscriptions to said capital stock may be paid in cash, real
or personal property, services, leases, options, or rights of way, at ‘such
valuation as may be determined upon by the incorporators and the sub-
scriber. When the minimum amount of the capital stock shall have
ycen subscribed, the subscribers and incorporators shall meet, at any
Hime and place convenient to themselves, and elect such officers as may
he necessary, in their opinion, for the condnct of the business of the
rompany, and thereupon they shall have and exercise all the powers
and functions of a corporation under this charter and the laws of this
commonwealth.

The said company shall commence the construction of its road
within two years and complete the same within five years from the
passage of this act.

10. All taxes due by the said company shall be paid in lawful money
of the United States and not in coupons,
11. This act shall be in force from: its passage.