Chap. 437.—An ACT to incorporate the Peninsula railway company.

In force February 21, 1898.

1. Be it enacted by the general assembly of Virginia, That W. A.
Post, Frank Lee, W. E. Cottrell, A. L. Parker, L. P. Stearnes, J. A.
Willet and John G. Livezey, and their associates, successors and assigus
be, and they are hereby, incorporated and made a body politic and cor-
porate under the name and style of the Peninsula railway company, in
which name it shall have perpetual succession and a common seal, may
sue and be sued, plead and be impleaded, contract and be contracted
with, and shall have and exercise all the rights, powers and privileges,
and be subject to all the duties and obligations of corporations of a like
character under the laws of the state of Virginia.

2. The capital stock of the said company shall not be less than ten
thousand dollars nor more than two hundred thousand dollars, and shall
be divided into shares of one hundred dollars each. The company may
receive subscriptions to its capital stock, or payment for its shares, In
money, land, or other property or services upon such terms as may be
authorized by the board of directors, and said company may give a
preference to a portion of its capital stock over the residue thereof as to
dividends and the payment thercof.

3. The above-named incorporators, or any three of them, are hereby
authorized to receive subscriptions to the capital stock of the said com-
pany, and for that purpose may open books of subscription and keep
the same open until at least the minimum capital stock shall have been
subscribed, whereupon they shall convene the subscribers to the said
capital stock, who in such meeting may organize the said company and
elect a board of directors and adopt by-laws, rules and regulations for
the conduct of the affairs of the company. The board of directors so
elected shall consist of not less than five nor more than nine members.

4. The said company shall have the right to locate, construct, equip
and operate a line of railway commencing at a point in the city of New-
port News, Virginia, and running thence to a point on or within two
hundred yards of the Briarfield road; thence on, over or within two
hundred yards of the said Briarfield road to or within two hundred
yards of its junction with the Scones Dam road; thence on, over or
within two hundred yards of the said Scones Dam road to or near New-
market school-house; and thence to a point in the town of Hampton, or
in the immediate vicinity thereof, by such route as the directors may
select, and may operate the said railway by electricity or other motive
power, as may seem most expedient; and may intersect, join or connect
its tracks with any other railroad upon such terms as may be agreed
upon by said company and the company whose lines are so intersected
or joined: provided, however, that no street in the city of Newport
News shall be used without the consent of the common council of said
city; no street shall be used in the town of Hampton without the consent
of the council of said town; no public road in the county of Warwick
shall be used without the consent of the supervisors of said county, and
no public road in the county of Elizabeth City shall be used without
the consent of the supervisors of said county.

5. The said company shall have power and authority to transport
passengers, baggage, freight and mail of the United States, and to charge
and collect fares and tolls for the same.

6. The said company may acquire by condemnation, according to the
laws of Virginia, or by gift or purchase, or may receive in payment for
its cipital stock, the lands required for the right of way for its railway,
stations, yards, side tracks, shops, power-houses, and terminal and ope-
rating facilities, and shall also have the right to acquire and hold, by
gift or purchase, other lands not exceeding five thousand acres at any
one time, and may sell or lease such lands, or otherwise dispose of the
same, In such manner as may seem most advantageous to the company.

7. The company may, from time to time, issue its bonds as may be
deemed necessary by its board of directors for the construction and
equipment of its railway and the proper prosecution of its business, and
mnay sell such bonds on such terms and for such sums as the board of
directors may deem expedient, and may secure payment of such bonds
by one or more mortgages or deeds of trust upon its property, rights and
franchises.

8. The company may, by its by-laws, designate what officers are to
manage, regulate and conduct its affairs, and prescribe the duties of
such officers, and make such other and further regulations for the con-
duct of its business as it may see fit, not in conflict with the laws of this
commonwealth.

9. The company may organize under the provisions of this act at any
time within three months from its passage, and shall commence the
construction of its railway within one year from the passage of this act.

10. Subject to the general laws of this state, the said Peninsula rail-
way company shall have the right to cross any other railroad: provided,
that the said company shall not cross the yards of the Chesapeake and
Ohio railway company at grade.

11. All taxes due the commonwealth by the said company shall te
paid in lawful money of the United States and not in coupons.

12. This act shall be in force from its passage.