Chap. 143.—An ACT to incorporate the Fairfax, Potomac, and Washingto:
electric railway company.

Approved February 14, 1901.

1. Be it enacted by the general assembly of Virginia, That J. Floyc
King, Robert EX. Doan, and Charles H. Coons, of Washington, District
of Columbia; William Bristow, of Falls Church, Virginia, and P
Thornton Marye, of Newport News, Virginia, and such other person:
as may hereafter be associated with them and their successors, are
hereby constituted a body, corporate and politic, to be known as the
Fairfax, Potomac and Washington electric railway company.

2. The capital stock thereof shall be twenty-five thousand dollars.
The capital stock shall be in shares each of the par value of one hun-
dred dollars.

3. Whenever the sum of twenty-five thousand dollars shall be sub-
scribed to said capital stock of this company and two per centum
thereof paid upon each subscription in cash, lands, property, work, or
other thing of value, the subscribers to said stock, who shall have made
such or greater payment, shall be stockholders in said company ; then
they shall meet in the town of Fairfax, in Fairfax county, and organize
this company by electing among the stockholders not less than five nor
more than nine persons, who shall be the board of directors for and of
this company. This board of directors shall, from among their own
number, select one of them to be president of the company, and he shall
also be president of said board.

4, This corporation, through its board of directors, may constitute
such offices as it sees fit, and may fill the same with persons competent
to discharge the duties appointed to be performed; and it in like manner
may appoint such agents, attorneys, employees, servants, and others as
may by the board be thought proper to carry on its affairs, purposes, and
designs.

5. This company may receive from any person or corporation, vol-
untary donations of lands, ties, rock, water power, and labor, bonds,
stocks, money, or any other property or thing in aid of the construc-
tion and equipment of its road, and may hold and use any such prop-
erty as part of its capital, and may sell, hypothecate, or dispose of any
real or personal property it may acquire by deeds of conveyance, mort-
gage, deed of trust, bill of sale, or other form of conveyance or writing
which the board of directors may direct to be executed by the president
and secretary: provided, that the right of way, road-bed, and franchise
shall not in any manner be disposed of without the consent of a majority
of the stockholders.

6. It may also receive subscriptions to its capital stock in real estate,
labor, material, or property of any and every sort from persons or
individuals, towns, counties, or municipalities, within or without this
state, and make such arrangements, contracts, and engagements as it
may desire to effect or agree upon, for, or touching the negotiation,
pledge, hypothecation, sale, endorsement, purchase, exchange, or other-
wise, of any real or other property, right, franchise, or thing it may
own, possess, control, or have interest of any sort in, in order to facill-
tate, complete, and carry on its works and purposes, not inconsistent
with the provisions in section five.

This company is hereby given power to locate, construct, stock,
equip, work, and operate any wood or iron tramway or railroad of any
gauge the board of directors may clect or determine, from a point at
or near the Potomac river, in Alexandria county, opposite District of
Columbia; thence through said county of Alexandria to or through
the county of Fairfax and through the towns of Falls Church, Vienna,
Fairfax Courthouse, or to either or all of said points, or to any other
point or points in the counties of Fairfax, Prince William, or Loudoun,
that the board of directors may deem advisable: provided, that this act
shall not be construed to authorize the construction of a road to Mount
Vernon or upon the land owned by the Ladies’ Mount Vernon associa-
tion.

8. Any county, municipality, or town, through or in which the road
of said company, or any branch thereof, may be located, may subscribe
to the capital stock of said company in the mode prescribed by law.

9. Said company shall have (subject to the general laws now in force
not in conflict therewith) the right to cross at grade over or under, in-
tersect, join, or unite its railway with any other railway now built or
construeted, or hereafter to be built or constructed, at any point on
its route upon the grounds of such railway company, with necessary
turnouts, sidings, switches, and other conveniences in furtherance of
the object of its construction. But the said railway company shall not
lay its tracks across the tracks of any other railway company at grade,
until the terms and plans of such crossing have been agreed to by such
other roads; and should said railroads not be able to. agree upon the
terms and plans of such crossing, the question shall be submitted to
arbitration of persons—one selected by each party—and the arbitrators
failing to agree, they shall call in an umpire to decide between them.

10. Whenever any part or portion of its line or road is built and
ready, this company may equip and operate the same as though the
whole was completed, and it may provide for transportation of passen-
gers, freight, United States mails, express matter, stock, and all other
things, and collect such charges and tolls therefor as are proper or
provided by law.

11. This company may issue shares of stock, and may, from time
to time, declare such dividends thereon as may he in the opinion of the
directors wise and proper, and may direct that the same be paid in cash
or in scrip; and to that end they may issue scrip in payment thereof,
redeemable as they may determine. This company may issue bonds or
other evidence of indebtedness, bearing a rate of interest not in excess
of six per centum per annum, and secure the same by a deed of trust
upon its real estate, properties, franchises. rights, and interests, and
may negotiate and sell said bonds or evidence of indebtedness, and it

may sell the same for a less sum than the face value thereof in order to
Taise money to carry on its affairs and better its condition, and may
make such terms and arrangements concerning the payment of interest
thereon and for use of moneys borrowed by it as it may see fit.

12. This corporation shall be subject to the general provisions of the
chrinies in reference to chartered companies in this state when not in
contlict with this act.

This company shall make and use a common seal, and shall have
annual mectings of the stockholders, at which its directors shall be
elected, and such annual meetings shall always be at the place where its
central office for the transaction of its general business is established,
which shall be within the state of Virginia.

14. ‘This corporation shall begin operations and work upon its road
within two vears from the date ‘of the passage hereof, and shall within
five years thereafter have its road completed and in operation from its
starting point, as fixed herein, to at least the town of Falls Church, in
Virginia. If that be so done within that time, then this act shall be for-
ever operative: provided, that after the completion of the said road from
the point of beginning to Falls Church or Fairfax Courthouse, it shall
he optional with said company in regard to continuing the same to the
other points named in this charter: and provided further, that the
failure to build the same to Falls Chureh or Fairfax Courthouse shall
in no wise affect this charter as applicable to that portion constructed.
hut the same shall continue in force.

15. This railway may be operated by means of electricity, compressed
air, liquitied air, or any other motive power now in use or which may
hereafter be discovered and legalized.

16. All taxes due the commonwealth by the said company shall be
pe in lawful money of the United States and not in coupons.

_ This act shall be in foree from its passage.