Chap. 343.—An ACT to incorporate the Mineral belt railway and tramway com
pany.

In force February 15, 18y8.

1. Be it enacted by the general assembly of Virginia, That Rowland F.
Till, Frederick Kernochan, William Mann, W. WH. Adams, and W. E.
Bibb, and any other person or persons that they may associate with them,
their successors and assigns be, and they are hereby, incorporated anc
made a body polite and corporate under the namie and stvle of the
Mineral belt railway and tramway company, and as such are authorized
and empowered to locate, construct and equip and operate a railway o1
tramway; to use steam, electricity or any other motive power, con.
mencing at a point at or near Mineral City, on the Chesapeake and Ohic
railway in Louisa county, thence to a terminus at or within twenty miles
of Aquia creek, in Stafford county, by such route as may be deemed
most advisable by the directors of said company; and hy that name shal’
be known in law.

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

3. The capital stock of the said company shall not be less than five
thoaeand dollars, and from time to time may be increased to any amount,
not exceeding fifty thousand dollars, by issue and sale of shares, the par

value of which shall not be less than fifty dollars, under such regula-
tions as the board of directors of said company shall from time to time
prescribe; and the directors may receive cash, labor, material, real or
personal property, In payment of subscriptions to the capital stock, at
such valuation as may be agreed upon between the directors and ‘the
subscribers, and may make such subscriptions payable in such manner
or amounts, and at such times, as may be agreed upon with the sub-
seribers.

4. Jt shall be lawful for said company to borrow money and _ issue
and sell its bonds from time to time for such sum and on such terms as
its board of directors may deem expedient and proper, in the prosecu-
tion of any of its works, and may secure the payment of said bords by
morteages or deeds of trust upon all or any portion of its propertv—
real, personal or mixed—its covenants, contracts and privileges, and its
chartered rights and franchise, including its franchise to be a corpora-
tion; and it may, as the business of the company may require, sell,
lease, convey and encumber the same.

5. It shall be lawful for said company to subscribe to and hold shares
in the capital stock of any mining cr manufacturing corporation; and
any nuning or manufacturing or other corporation may lease or operate
the road and property of the said company, or guarantee or hold the
stock or bonds of the said company.

The said company is authorized and empowered to locate, con-
struct, equip and operate lateral or branch railways or tramways from
any point on its line of railroad to any timber, ore-banks, mines, or
other operations in the counties of Louisa, Spotsylvania, Orange, Cul-
peper and Stafford, or to connect the said line with any other tramway
or railroad now built or hereafter to be constructed in or to cither of the
sald counties; and the said company may connect or unite its said road
with that of any other company, or consolidate or merge its stock and
franchises with those of any other company operating or authorized to
operate a connecting line of tramway, upon such terms as may be agreed
upon between the companies so uniting or connecting, merging or con-
solidating, and for this 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.

7. The said company may acquire by condemnation, according to the
laws of Virginia, the lands required for the right of way of its railroad
and the necessary stations and depots for its operation, and may connect
or unite its road with that of any other company. Said company may
cross any railroad track, but not at grade, by proper brides, tunnels and
appliances to fully protect from any danger.

8. The said company shall be required to commence the construction
of said road within two vears from the passage of this act and to com-
plete the construction of its main line within five years thereafter. The

said company may mine ore and other minerals from land received by
it in payment of subscriptions to its capital stock.

9. The persons first named in this act, or such of them as shall aceept
the provisions thereof, shall have power and authority of a president
and board of directors for the purpose of organization and for all other
purposes. They shall continue in oflice until their successors shall be
elected and qualified. Each stockholder in the company shall at all
meetings or elections be entitled to one vote for each share of stock
revistered in his name.

10. The board of directors shall be stockholders of said company.
They shall appoint one of their number president, and may fill any
vacancy that may oceur in said board, unless by removal, in which case
the same shall be filled by the stockholders i in general necting. W hen-
ever ten per centum of the capital stock shall have been subscribed and
the board of directors shall have elected a president, said company shall
be considered legally organized and may proceed to the transaction of
business,

11. The board of directors may establish offices and agencies at such
places as they may deem proper, but the principal office of the company
shall be located at some point within the limits of the state of Virginia.

12. Whenever the corporation shall exercise any of the privileges
conferred by this act it shall be lable to the same taxes as may be imn-
posed by law upon other like corporations 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.

13. This act shall be in force from its passage, but the general as-
sembly of the state of Virginia reserves to itself the right to modify,
alter or repeal this act at any time hereafter.