Chap. 220.—An ACT to amend and re-enact. sections 2, 3 and 4 of an act approved
March 8, 1894, entitled an act to incorporate the Saltville and Mendota railroad
company, as amended by an act approved February 7, 1896, and to legalization
of said company.

Approved February 7, 1898.

1. Be it enacted by the general assembly of Virginia, That sections
two, three and four of an act entitled an act to incorporate the Saltville
and Mendota railroad company, approved March eighth, eighteen hun-
dred and ninety-four, as amended by an act approved February seventh,

eighteen hundred and ninety-six, be amended and re-enacted so as to
read as follows:

§ 2. The capital stock of said company shall not exceed five hundred
thousand dollars, to be divided into shares of one hundred dollars each,

each share being entitled to one vote; and it shall be lawful, when ten
thousand dollars of stock shall be subscribed, for the persons hereinbe-
fore named to organize said company by the election of a president and
board of directors and such other officers as may be necessary, and
thereupon thev shall have and exercise all the general powers and func-
tions of a corporation, and be subject to all the restrictions imposed by
the laws of the state of Virginia applicable to internal improvement,
except as the same mav be changed or modified by this act.

§ 5. Said company shall, at any time after organization, have power
to borrow money for its purposes, to issue its bonds or notes not exceed-
ing twenty-five thousand dollars per mile, bearing interest not exceeding
six per centum per annum, payable semi-annually, and to secure the
same by mortgage or deed of trust on the works, property and fran-
chises, or in any other manner it may deem best. It may also sell or
dispose of such bonds, secured as aforesaid, from time to time, on such
terms and at such price as the board of directors may deem expedient
and proper.

§ 4. The said company shall commence the construction of its roads
within two vears from the passage of this act and complete it within
two years from that date.

2. The organization of said Saltville and Mendota railroad company
had at Saltville, Virginia, on the day of December, eighteen hun-
ave and ninety- -seven, is hereby legalized.

. This act shall be in force from its passage.