Chap. 470.—An ACT to incorporate Virginia transportation company.

Approved February 21, 1900.

1. Be it enacted by the general assembly of Virginia, That P. H.
Lash, J. V. Borum, Jack Kramer, S. Bosley, W. V. Hart, and J. B.
Lindsay, their associates, successors, and assigns be, and are hereby,
constituted and declared a body, politic and corporate, by the name and
style of the Virginia transportation company, with power to own,
police, and operate steamships, steamboats, barges, lighters, and other
vehicles of transportation, propelled in whole or in part by steam, gas,
electricity, air, naphtha, or other motive power, on water between any
and all ports in the state of Virginia, or to and between any ports outside
of the same. It shall be at liberty to establish, own, lease, rent, touch
at, maintain, and operate wharves, docks, landings, and locations for
shipping, at such points as it may desire on the Chesapeake bay, James
river, Nansemond river, Elizabeth river, Hampton Roads, or their
branches and tributaries, for the purpose of transporting to, from, and
between the same, such passengers, parties, goods, wares, and merchan-
dise, as may from time to time be offered it for transportation.

2. The company so organized, shall be entitled to all rights and
privileges provided for transportation companies under the general laws
of the state, ineluding the right to issue bonds, unite, or merge with.
lease, or operate other companies: provided, that no authority granted
under this act shall be construed as extending to the said transpor-
tation company the privilege of running a ferry in opposition to the
ferry now existing between the cities of Norfolk and Portsmouth and
the town of Berkley. Any company with which it may desire to unite,

merge, or consolidate is hereby empowered to make such merger, lease,
or consolidation.

The capital stock of said corporation shall not be less than six thou-
sand dollars nor more than ten thousand dollars. The corporators
above named are hereby appointed commissioners, any three of them
being delegated, and fully authorized to open books of subscriptions.
When the minimum amount shall have been subscribed the subscribers
may proceed to organize by electing a board of not less than five
directors from their own number. The board of directors so elected
shall elect a president and vice-president and may elect or appoint
such officers as shall be deemed necessary for the management of its
affairs. The company so organized shall thereupon acquire all the
powers and privileges conferred upon the persons named as corporators
in the first section of this act.

3. Work under this charter shall be begun in two years, and its prin-
cipal office shall be located in the state of Virginia.

4, The said corporation shall pay taxes in lawful money of the United
States and not in coupons.

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