Chap. 188.—An ACT to incorporate Copper Range Southern Railway Company.

Approved March 14, 1902.

1. Be it enacted by the general assembly of Virginia, That Alfred P.
Thom, Harrie C. Ansley, and Fairfax Harrison, their associates and suc-
cessors, or assigns, are hereby constituted a body politic and corporate
under the name of Copper Range Southern Railway Company, for the pur-
pose of constructing, equipping, and operating a railroad from a point of
connection with the line of railroad of the Atlantic and Danville Railway
Company, in Halifax county, Virginia, to be selected by the company
hereby incorporated ; thence in a general northerly direction, not exceed-
ing one hundred miles, upon such route as may be adopted by the com.

ny.

2. That the capital stock of said company shall be not less than ter
thousand dollars nor more than one hundred thousand dollars, and shal.
be divided into shares of one hundred dollars each; but the board of direc.
tors may, in their discretion, from time to time, increase the capital stock
to such an amount within the limits herein fixed, and may dispose of th
same at such prices and upon such terms as they may determine. Eael
share of stock shall be entitled to one vote at all mectings of the stock
holders, and the directors may receive real or personal property in pay
ment of subscriptions to the capital stock at such valuations as may b
agreed upon between the directors and the subscribers. The incorpora
tors above named, or a majority of them, may receive subscriptions t
the capital stock in such manner as they may deem best, and no advertise
ment of the time and place at which books will be opened for subscrip-
tions shall be necessary, and the terms of payment therefor shall be such
as the board of directors shall prescribe.

3. When the minimum amount of capital stock shall have been sub-
scribed, the subscribers may meet, upon such notice as the above named
incorporators or a majority of them may determine, and elect a president
and a board of directors and such other officers as they may deem best.
At such meeting each subscriber may, in person or by proxy, cast one vote
for each one hundred dollars of stock subscribed for by him. The board
of directors may consist of any number that the subscribers or stock-
holders may, from time to time, determine. After such election the said
company shall thereupon be deemed duly organized, and the board may
proceed to adopt by-laws for the conduct of the company, and take such
further action as the interests of the company may, in their judgment,
require.

4, The by-laws of the company, which may be changed at the discre-
tion of the board of directors, may prescribe the times and places for the
meetings of the stockholders, and also the time and method of giving
notice of such meetings, and the manner of serving the same.

5. Said company shall at any time after organization have power to
borrow money for its purposes, to issue its bonds or notes, bearing interest
not exceeding six per centum per annum, payable semi-annually, and to
secure the same bv mortgage or deed of trust on its works, property, and
franchises, or in any other manner it may deem best. It may also sell or
dispose of such bonds at such discount as its board of directors may deem
best for the interests of the company, and any bonds so sold or disposed
of at a discount shall be as valid and binding upon the company as if
sold or disposed of at par.

6. Said company shall have all the general powers conferred upon, and
be subject to all the general restrictions imposed upon, and to all the
provisions respecting corporations and chartered companies under the
laws of the State of Virginia, except in so far as the same are modified by
or are inconsistent with this act.

7. It shall be lawful for said company to consolidate with any other
railroad company heretofore incorporated or hereafter to be incorporated
in or out of the State of Virginia which owns or operates a line of road
connecting with the railroad hereby authorized to be constructed; and it
shall be lawful for the company hereby incorporated to lease or sell its
works, property, and franchises, or anv part of them, to any other such
company: provided, that no consolidation of the corporation hereby
created with any corporation chartered by another State, or any lease or
sale thereof, shall operate to prevent such consolidated company from
being a corporation of this State, or in any manner to impair the juris-
diction of the courts of this State in respect to the property and fran-
chises so leased or purchased.

8. This act is subject to the proviso that the work of construction
hereunder shall be begun, and at least five miles of road shall be con-
structed and put in operation, not later than five years from and after the
first day of July, nineteen hundred and two, unless the time therefor
hall be extended by the general assembly. All taxes or demands due or
lo become due by this company to the State of Virginia shall be paid in
awful currency of the United States, and not in coupons.

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