Chap. 447.—An ACT to incorporate the Lexington street railway, light and power
company.

Approved February 28, 1898.

1. Be it enacted by the general assembly of Virginia, That Augus-
tine Royall, J. R. Williams, W. S. Hobkins, William A. ‘Anderson, W.
T. Poague, and J. T. W ilson, and their associates and successors be, and
they are hereby, constituted a body corporate, under the name and style
of the Lexington strect railway, light and power company.

2. The said company shall have power and authority to construct,
equip, maintain, and operate a strect railway along the streets of the
town of Lexington; also to construct, equip, maintain and operate an
electric plant for the purpose of furnishing light, heat, and power, with
the consent of the council of said town, and to any point in the county
of Rockbridge, with the consent of the county court thereof; and the
said company may acquire, by contract or condemnation, such land or
other property, or rights of way as may be necessary for theconstruc-
tion of its line or lines of railway, proceedings for such condemnation
to be in accordance with chapter forty-six of the code of Virginia, edi-
tion of eighteen hundred and eighty-seven, and the acts amendatory
thereto.

3. It shall be lawful for the said company to transport passengers,
freight and baggage over its line of railway, and to collect fares and tolls
for the same, and may use horses, mules, electric, steam, or any power
hereafter discovered, to propel its cars; to receive subscriptions and issue
capital stock of said company from time to time, as they may deem ex-
pedient, until the said stock has been fully taken, and it shall be lawful
for said directors to accept in payment for such subscription, either in
whole or in part, money, services, labor, material, land, bonds, land, or
other damages, or such other property as may be available for the pur-
poses of said company, or they may pay the same in stock.

4. The capital stock of said company shall not be less than five thou-
sand dollars nor more than fifty thousand dollars, to be divided into
shares of one hundred dollars each, and as soon as the minimum is sub-
scribed the company may organize, and shall be authorized to proceed to
the construction of the said railway and to furnish light and power.

5. It shall be lawful for the directors of the said company to issue bonds
or other evidences of debt, and to secure the payment of the principal
and interest of the same by mortgages or deeds of trust upon the fran-
chises and property of said company; and the said company may have
its bonds endorsed and guaranteed by trust companies to other corpora-
tions, and may pay for such endorsement and guarantee in money or in
stock of the said company, or both, as they may elect.

6. The raid company may consolidate with any other street, traction
or railroad company which is not a competing line, and may construct,
equip, and maintain lateral branches of said railroad of not more than
twenty miles in length. The said company is authorized to operate
within, open or vestibule cars on its line.

7. The construction of the railroad hereinbefore authorized shall be
commenced within two years and completed within five years from the
passage of this act.

8. All taxes and other demands due the state by said company shall
he paid in lawful monev of the United States and not in coupons.

, This act shall be in force from its passage.