Chap. 310.—An ACT to incorporate the Phoebus and Fox Hill railroad company.

Approved February 12, 1898.

1. Be it enacted by the general assembly of Virginia, That E. M.
Tennis, S. Gordon Cumming, H. L. Gordon, J. J. Routten, Robert Paul,
R. H. Watson, and Frank Walton, their associates, successors, and as-
signs be, and are hereby, incorporated and made a body politic and cor-
porate, under the name of the Phoebus and Fox Hill railroad companv;
and as such are authorized and empowered to construct, equip, main-
tain, and operate a railroad in the county of Elizabeth City, state of
Virginia, from any point at or near Phebus Junction, on the Chesapeake
and Ohio railway, thence running by the most practicable route to Fox
Hill; thence through the community known as Fox Hill, ending at the
bay shore on Chesapeake bay on or near the land now owned by Robert
Paul, with like power and authority to construct, equip, maintain, and
operate a branch road from its main line through the lands known as
the Buckroe tract to Chesapeake bay, on or near the Buckroe beach.

2. The said company shall have perpetual succession, and shall have
power to sue and be sued, plead and be impleaded, defend and be de-
fended in the courts of this commonwealth; and may make and have a
common seal, and alter or renew the same at pleasure; and shall have,
possess, and enjoy all the rights and privileges of a corporation and body
politic in the law and necessary for the purposes of this act.

3. The capital stock of the said company shall not be less than ten
thousand dollars nor more than one hundred thousand dollars, to be
divided into shares of not less than ten nor more than one hundred dol-
lars each; and the directors may receive cash, services, materials, bonds,
notes, and personal or real property in payment of subscriptions to the
capital stock, at such valuation and at such prices as may be agreed
upon between the directors and the subscribers; and may make such
subscriptions payable in such manner and amounts, and at such times
as may be agreed upon with the subscribers; and whenever the sum of
ten thousand dollars shall have been subscribed the subscribers, under
the direction of any three of the incorporators hereinbefore named, may
organize the said company by electing a president and board of direc-
tors, and by electing or providing for the appointment of such other
officers as may be necessary for the control and management of the busi-
ness and affairs of the said company, and thereupon they shall have
and exercise all the powers and functions of a corporation under their
charter and the laws of this commonwealth.

4, The said company shall have power to acquire by gift, purchase,
lease, or condemnation according to law, all lands required for a right
of way for its railroad and for its stations, depots and terminal facilities
for its operation; borrow money for its use, issue bonds and notes there-
for, and secure such bonds and notes by deed or deeds of trust, or mort-
gage or mortgages on any part or all of its property—real or personal
and 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 en-
cumber the same.

.5. The said company shall have power to cross any other railroad
upon the terms and in the manner prescribed by the general law for
one work of internal improvement crossing another, or may unite or
connect with any other railroad now built or constructed, or hereafter
to be built or constructed upon such terms as may be agreed upon with
said railroad; and with the consent of the board of supervisors of the
said county, and upon making adequate compensation to the abutting
landowners may use the public road in the said county along its route
heretofore designated in this act.

6. The said company may also acquire, purchase, accept, hold and
enjoy such other property—real and personal or mixed—as mav be
necessary or advantageous for the purposes of its business: provided,
that it shall not acquire or hold real estate in excess of three hundred
actes.
7. The said company shall have the power and authority to begin the
construction of the said railroad at any point along its proposed route,
and may use and operate the same from the time it shall have been com-
menced,

5. It shall be lawful for the said company to transport passengers,
freight and baggave, and collect fares and tolls therefor; and to use in
the propulsion of its cars on its road either horses, mules, steam or
electricity; and in general have all such other powers, privileges, rights
and franchises that may be necessary for the accomplishment of the pur-
poses of its incorporation which are conferred by the laws of Virginia
upon works of internal improvement.

J. The said company shall commence the construction of the said
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.

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