Chap. 539.—An ACT to incorporate Norfolk City and Suburban Railway Coim-
pany.

Approved April 2, 1902.

1. Be it enacted by the general assembly of Virginia, That Barton
Myers, W. C. Cobb, Caldwell Hardy, Aaron Milhado, .A. L. McClellan,
and their associates, successors, and assigns, be, and they are hereby, de-
clared to be a body corporate and politic by the name of the “Norfolk
City and Suburban Railway Company,” and by that name and style are
hereby invested with all the rights, powers, and privileges conferred, and
made subject to all the rules and regulations and restrictions imposed
by the Code of Virginia and all general laws applicable to such institu-
tions that are not inconsistent with this act.

2. The capital stock of said company shall not be less than ten thon-
sand dollars, and may, from time to time, be increased to any amount.
not exceeding three hundred thousand dollars, by the issue and sale of
shares of preferred or common stock, or both, upon such terms and con-
ditions and under such regulations, and at such price as the stockholders
or board of directors of said company shall prescribe, but the par value
of every share of stock shall be one hundred collars; and the directors
may receive cash, labor, material, bonds, stock, real or personal property
in payment of subscriptions to the capital stock at such valuation and at
such prices as may be agreed upon between the directors and the sub-
seribers, and may make such subscriptions payable in such manner or
amounts and at such times as may be agreed upon with the subscribers ;
and whenever one hundred shares shall have been subscribed to, and the
sum of one thousand dollars paid in cash, the subscriber, under the diree-
tion of the majority of the corporators hereinbefore named, who them-
selves shall be subscribers, may, without advertising the time and place
for receiving subscription to the stock thereof, organize the said company
by electing a board of directors, and providing for the election or ap-
pointment of such other officers as may be necessary for the control and
management of the business and affairs of said company, and thereupon
they shall have and exercise all the powers and Tunctions of a corporation
under their charter and the Jaws of this State.

3. It shall be lawful for said company to borrow money and issue and
sell its bonds, from time to time, for such sums and on such terms as its
board of directors may deem expedient and proper for any of the purposes
of the company, and may secure the payment of said bonds by mortgages
or deeds of trust upon all or any portion of its property—real or personal
and mixed—its contracts and privileges, and its chartered rights and
franchises, including its franchise to be a corporation, and it may, as the
business of the company shall require, sell, lease, convey, and encumber
the same, and it shall be lawful for said company to subscribe to and hold
the stock and bonds of other corporations, and such other corporations
may subscribe to, guarantee, and hold the stock and bonds of the said
company.

4. The said company shall have power to acquire, by gift, purchase, or
otherwise, and to hold real estate in or within twenty miles of the city of
Norfolk to an amount not to exceed two thousand acres at any one time,
and may grant and convey the same, cither by lease or by deed, in fee or
in trust. Said company may also lay off and beautify squares or parks,
to be open to visitors, upon such terms and under such regulations as
the company mav prescribe: and said company is also authorized to
adopt suitable rules and regulations to enforce the observance of good
order at such parks and squares, and may charge fees of admission to
the same or any part thereof.

5. Said company is authorized to construct and operate a street rail-
way, single or double track, to run over and through the streets of Nor-
folk, Virginia, upon such terms and conditions as may be prescribed by
the councils of said city, and for the purpose of connecting with such
park or parks, or other improvements as may be established; shall have
the right to extend, construct, maintain, and operate a railway, single
and double track: its cars or trains to be operated and moved by cither
horse or steam powcr, or by electricity, from Norfolk to Kempsville,
either north side of the eastern branch of the Elizabeth river or south
thereof, or on both sides thereof, or to any point within twenty miles of
said citv, in the counties of Norfolk, Princess Anne, or Nansemond; and
may build a bridge over the castern branch of the Elizabeth river: pro-
vided, that. such bridge shall not he located, erected, or constructed at a
point on the eastern branch of the Elizabeth river below a point three-
eighths of a mile cast of the present site of the Campostello bridge. The
said company may acquire, by condemnation, according to the laws of
Virginia, the lands required for the right of way of its railway. Said
company may connect its railway with other railways now existing or
hereafter incorporated. Said company may lease or sell the whole or
any part of its railway and appurtenances to any other connecting rail-
way, or may lease or acquire from the owners of such railway the whole
or any part of its railway or appurtenances. Said company is authorized
to transport over its line or lines of railway, at such rates as it may adopt,
passengers, express matter, packages, or other articles of merchandise
and produce or other commodities.

%. The board of directors shall be stockholders of said company, and
shall consist of such number as the stockholders may determine upon,
and shall be clected at the stockholders’ annual meeting, to be held on
such days as the by-laws of the company may direct, and shall continue
in office for the term of one year from and after the date of their elec-
tion, and until their successors are elected and accept the duties of the
office ; and they shall appoint one of their number president, and in case
of the death, resignation, or incapacity of any member of the board of
directors during his term of office, the said board shall elect his suc-
cessor for the unexpired term.

8. The charter is granted on the express condition that all taxes shall
be paid in lawful money of the United States, and not in coupons.

9. The principal and general offices of said company shall be in Vir-
ginia.

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

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