Chap. 48.—An ACT authorizing the Ohio river and Charleston railway com-
pany, as the successor of the Ohio river and Charleston railroad com-
pany, to complete the construction of and operate its road; prescribing
the terms thereof; and authorizing a change in the name of the company.

Approved February 8, 1901.

Whereas the Ohio river and Charleston railroad company, a body cor-
porate under the laws of the state of Virginia, the Ohio river and Charles-
ton railway company of Tennessee, a body corporate under the laws of
the state of Tennessee, have heretofore, under the provisions of the ehar-
ter of the said Ohio river and Charleston railroad company, been con-
solidated under the name of the Ohio river and Charleston railway com-
pany; and

Whereas the said Ohio river and Charleston railway company proposes
to complete the construction of its road already in part commenced, and
it is desirable to specify and prescribe its rights and privileges with
respect to the same: now, therefore,

1. Be it enacted by the general assem ly of Virginia, That said Ohio
river and Charleston railway company shall he the successor of the said
Ohio river and Charleston railroad alp and may, in the manner as
heretofore provided in the charter of the lattercompany. construct, operate
and maintain a railroad from a point on the state line of ‘Tennessee by the
most practicable route through or across the state of Virginia to some
point on the state line of Kentucky, at or near the breaks of Big Sandy.
and to that end may enter upon lands and survey its route and condemn
terms for its purposes in the mode preseribed by law.

. That said Ohio river and Charleston railway company, its succes-
sors or assigns my further have perpetual succession and a common seal:
may contract and be contracted with, sue and be sued, may construet and
operate telegraph and telephone lines along its line, or contract with
other persons or corpor: ations to construct and operate the same; may
construct branch railroads, in the mode prescribed by law, at any time,
none of which shall exceed fifty miles in length: and by order of its
board of directors may consolidate or merge with any other railroad
company chartered hy this or any other state with which its line may
connect : provided, however, that such consolidated company shall always
rcmain a Virginia corporation so far as the right of sueing or being sued
is concerned; and a counterpart of said contract of consolidation or
merger shall be recorded in the office of the secretary of the common-
wealth of Virginia, and a certified official copy of such contract shall ba
evidence of such consolidation or merger without proof of handwriting.

3. The said Ohio river and Charleston railway company shall succeed
to and be vested with each, all and every of the works, property, rights,
privileges, easements and franchises of the said Ohio river and Charles-
tion 1a??road company, and shall perform all duties which would or should
have been performed by said last-named company, except so far as said
rights or franchises may be herein extended, or such duties herein be
modified.

4+. The capital stock of the said Ohio river and Charleston railway
company, as provided in the said original charter, shall not be less than
seven hundred thousand dollars, which may be increased by the board of
directors from time to time to an amount not exceeding fifteen million
dollars, and shall be divided into shares of the par value of one hundred
dollars each. Said company, through its board of directors, shall have
the power to issue its stock of one or more classes or kinds and in one or
more series or grades with such preferences, conditions and voting power
as shall be provided in its by-laws, and may sell its stock and bonds from
time to time upon such terms and at such prices as its board of directors
miy preseribe. And said company may subscribe for and hold stock in
other corporations and other corporations may subscribe for and hold
stock in said company, and said company is further granted the power
and right to acquire or guarantee the bonds of anv other company or
corporation, public, private or municipal, and said railway company may
have its bonds guaranteed by any other corporation. .

5. The board of directors of said company last elected shall continue
in oflice until their successors are appointed and such board shall consist
of not less than seven nor more than fifteen members, who shall from
th 1r number choose a president, and may also from their number appoint
an executive committee of not Jess than three members, to whom may bea
delegated such of the powers of the board as the said board may deem
proper.

6. The said Ohio river and Charleston railway company shall begin
the further construction of its road within two vears, and complete the
same within five vears from the passage of this act: provided. however,
that for the formation of a continuous line of railway the said company
shall Le authorized, by and with the consent of the Virginia and South-
western railway company, its sucecssors or assigns, to use a portion of the
latter company’s track, upon such terms and conditions as may hereafter
be agreed upon between the two companics. and the said Virginia and
Southwestern railway company may use the tracks of said Ohio river and
Charleston railway company, by and with the consent of the latter com-
pany, upon such arrangement as to the joint use of the latter eompany’s
tracks as may be agreed upon between the two eompanies: provided.
further, that if the Ohio river and Charleston railway company shall.
within the two vears aforesaid, complete its road from the Tennessee
state line, so much as fifty miles within the state of Virginia, as aforesaid,
then the same shall be deemed a sullicient complianee with the provisions
of this act, and of the charter of the company, without its fully com-
pleting its road to the Kentucky line. In the event said fifty miles of
road is constructed within the two years, said company shall have an
additional period of three vears to complete its road to the Kentucky line.

7. It shall be lawful for the circuit court of the city of Richmond,
upon petition of the board of directors of the said company, to order a
change in the name of the company, but any such change of name shall
be without prejudice to the rights of any creditor or to the exercise of any
of the powers and privileges of the company granted by this or anv
previous act.

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