Chap. 309.—An ACT to incorporate the Potomac and mineral belt railroad com-
pany.

Approved February 11, 1898.

1. Be it enacted by the general assembly of Virginia, That Lewis
D. Aylett, Samuel G. Wallace, Thomas Armstrong, F. W. Sims and W.
H. Urquhart, their associates, successors and assigns, be, and they are
hereby, created a body politic and corporate under the name and style
of Potomac and mineral belt railroad company, and as such shall have
all the powers, privileges, franchises and immunities applicable to, and
be subject to all the Jimitations and restrictions imposed upon corpora-
tions of like character under the laws of Virginia.

2. The said company shall have the right to construct, maintain and
operate a railroad, not exceeding one hundred and fifty miles in length,
from the mines or mineral properties in the counties of Buckingham,
Fluvanna, Cumberland, Powhatan, Goochland or Louisa, through the
counties of Orange, Culpeper, Spotsylvania, Stafford, Prince William or
Caroline to some point of connection with the Richmond, Fredericks-
burg and Potomac railroad or the Virginia midland branch of the South-
ern railway, together with such switches, sidings, yards, stations, offices
and other facilities as may be needed, said railroad to be operated by
steam, electricity or such motive power as the company may deem most
advantageous.

3. Said railroad shall have power to acquire a right of way for its
said railroad by the usual methods of purchase, gift, release or con-
demnation, and also such ground as may be needed for its uses in ter-
minal facilities, switches, yards, stations, offices, maintenance and
operation of its road.

4, The capital stock of said company shall not be less than ten thou-
sand dollars, but may be increased from time to time: provided, the
same shall not exceed five hundred thousand dollars par value, to be
divided into shares of one hundred dollars each.
5. Subscriptions to the stock of said company may be made or paid
In money, services, labor, stock, bonds or other securities of individuals
or other corporations, materials, machinery or other property, real or
personal, at valuation agreed on by the owners and corporators or the
company or otherwise, as may be determined; and it shall be lawful for
other corporations to subscribe to the capital stock of this company and
hecome holders of same and of the bonds or other securities thereof.
This company also shall have the power to hold the stock, bonds or

other securitics of other like companies.

6. The corporators, after giving ten days’ notice in a newspaper pub-
lished in Fredericksburg, Virginia, may, by themselves or under the
supervision of such persons as they may appoint, at such time and place
as may be fixed upon, open books for subscription to the capital stock
of said company, and, if necessary, shall keep the same open from day
to dav until the requisite amount of stock shall have been subseribed.
The said company may organize when ten thousand dollars shall have
been subscribed to its capital stock.

7. Said company shall have power to lease its said road, to borrow
money, to issue bonds or other evidences of debt, and to secure the
same by a mortgage or mortgages or otherwise, upon the right of wa:
roadbed, stations, rolling stock, franchises, revenues or other property
for the construction, repair, maintenance or operation of its said road.

8. Said company shall have the power to unite, consolidate or con-
nect with any railroad constructed or that may be constructed to or at
the termini, or on or across the line of the railway of this company,
and to make such contracts as may be necessary to carry out the pro-
Visions of this section.

9%. The principal office of said company may be located anywhere on
the line of said road or in the city of Richmond.

10. All taxes due by 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.

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