The governor authorized to control the re ment and safe library CHAP. 57.-JOINT RESOLUTION Authorizing the Governor to direct and control all Arrangements Necessary to the Removal, &c., of the Public Library, and Providing that the Removal shall not take place until some other place has been Provided for the Safe Keeping and use of said Library. Approved February 20, 1874. Resolved (the house of delegates concurring), That in order the better to secure the preservation of the public library moval, arrange from injury by reason of the removal thereof, as provided for keeping of state in the joint resolution, adopted by the two houses of the general assembly, on the twelfth day of February, eighteen hundred and seventy-four, the governor of this commonwealth is hereby authorized and empowered to direct, superintend and control all arrangements necessary to accomplish the removal, arrangement and safe keeping of said library: Removal not to provided, that such removal shall not be commenced until some other place has been provided by law, for the safe keeping and use of the library. be commenced until other place has been provided Preamble The Richmond ghany railway porated CHAP. 58. An ACT to Incorporate The Richmond and Trans-Alleghany Railway Company. Approved February 20, 1874. For the purpose of constructing, equipping, maintaining and operating a narrow-gauge railway from or near the city of Richmond, Virginia, through or near the counties of Henrico, Chesterfield, Powhatan, Cumberland, Buckingham, Appomattox, Campbell, Bedford, Franklin, Floyd, Bland, Giles, Tazewell, Russell, Scott and Lee, or Buchanan and Wise, to the state line, by such route as may be found most advantageous and expedient for the development of the agricultural, mining and manufacturing resources of the country traversed by the road, and with a view to connections beyond the limits of this state 1. Be it enacted by the general assembly of Virginia, That and Trans-alle- John D. Imboden, Robert H. Maury, Franklin Stearns, George company incor- A. Barksdale, and Charles S. Mills, of Richmond city; Beverly A. Davis, of Pittsylvania; William M. Perkins, of Buckingham; Morton Pannill, of Campbell; James Calloway, of Franklin; Joseph L. Howard, of Floyd; Henry B. Harman, of Tazewell; Thomas C. M. Alderson and Dale Carter, of Russell; Samuel Graham, of Buchanan; and Dr. Hiram Riggs, of Wise county, Virginia; and Thomas Cummings Davis, Henry George Houghton, Thomas B. Edwards, F. Lionel Toms, and David T. Ansted, of London, England, or any five of them, and such other persons as they may associate with them, be and they are hereby made and declared a body politic and corporate, by the name and style of The Richmond and Trans-Alleghany Narrow-Gauge Railway Com- General powers pany. Said company shall have perpetual succession and a common seal, which it may renew or alter at pleasure, and may sue and be sued, plead and be impleaded, contract and be contracted with, and make ordinances, by-laws and regulations, not inconsistent with the provisions of this act, the laws of this state, or of the United States, for the government of its officers and agents, and the proper conduct of its affairs. tained 2. The capital stock of the company shall be six millions Capital; when of dollars, and may be increased at any time, and from time and how obto time, by the shareholders, at any regular meeting, or at a meeting called for that purpose, by a vote of the owners and representatives present, of a majority of the shares, to a sum not exceeding twelve millions of dollars, for its main line, to be divided into shares of one hundred dollars each, to be subscribed for or otherwise acquired under the direction of any five of the persons herein named, or of the temporary officers of the company, or of such agent or agents as they, or the company hereby incorporated, may hereafter appoint for that purpose, and at such place or places, and upon such notice as they may deem necessary. by counties, towns incorporated 3. It shall be lawful to receive subscriptions to said capi- Subscriptions tal stock from any county, city or town, or incorporated cities or towns, company in this state, two-thirds of the stockholders of said or by state companies; how to company assenting thereto, payable in money, or in the be made and bonds thereof, having twenty years to run, bearing not over paid for eight per centum interest, payable yearly or half-yearly, as the subscribers may authorize. Such subscriptions shall be Laws to regulate subscripauthorized and made by and on behalf of cities, counties and tions by countowns, under and in conformity with the general laws of this ties, cities and state, regulating and providing for the same. Subscriptions, Limitation on however, by counties shall be limited to a sum not exceeding subscription by five thousand dollars per mile of said railway, located within counties their respective limits. Any corporation engaged in mining, Regulations for manufacturing or other business, in this state or elsewhere, subscriptions by other than a railroad company, may subscribe for and hold companies stock in said company; and any person or such corporation holding or owning lands in this or any adjoining state, may donate the same to, or subscribe for stock in said company, payable in land, for which certificates of stock, full paid and unassessable, may be issued, at such fair price as may be agreed on between said company, and the owners and subscribers of such lands; and it shall be lawful for said com- Power to repany to receive and hold the title to all lands so acquired, or ceive and hold which it may purchase, and to possess, occupy, manage, im- lease, sell, mortprove and develope the same as fully as a natural person umber them could lawfully do; or to lease, sell and convey at pleasure, or mortgage and incumber its said lands, upon such terms and for such objects as the interests and business of said company may require. The court of any county making a sub- Bonds of counscription, as aforesaid, payable in its bonds, shall cause said ties; how enbonds to be endorsed with the condition that the amount so lands and to gage and in dorsed pended in limits scribing subscription ney to be refunded be raised fund Money to be ex- subscribed, by such county, shall be expended in the conof county sub- struction of said railway within the limits of such county, and a failure on the part of the company to comply with this condition, within the period limited for the construction What to operate of the main line, shall operate a release and revocation of as revocation of such subscription, and said company shall be liable to repay and when mo- to such county all interest theretofore paid by said county on its subscription. And every county so subscribing to the Sinking fund of stock of said company shall, annually, levy two per centum county; how to of the amount of its subscription, as a sinking fund for the Who to manage payment of said bonds, to be applied under direction of the judge, county treasurer and commonwealth's attorney of said county, as an annual payment on the principal thereof. 4. The corporators herein before named, or as many as may company; how assemble, after ten days notice of the time and place of meeting has been given, in some newspaper published in Richmond, may meet for the purpose of effecting a temporary organization; which temporary organization shall continue in force and perform all the duties and have all the powers of a regular board, for two years, unless a permanent organization shall be sooner effected, as hereinafter provided. A president, Di- president, vice-president, five directors, and such other officers under tem-cers as may be deemed essential, at the meeting of corporaporary organi- tors, shall constitute the temporary organization aforesaid. Route of rail- 5. Said company shall be and is hereby authorized and way; how to be empowered to survey, locate, construct, equip, maintain and Temporary organization of long to continue President, vice rectors and offi zation constructed operate a line of railway, of any narrow-gauge it may adopt, of not less than two feet six inches nor more than three feet six inches, with a single or double track, from or near the city of Richmond, through or near the counties named in the preamble to this act, to any point or points in any of the counties mentioned, bordering on the states of West Virginia, Kentucky or Tennessee; and to that end the said comis invested with all the powers conferred by the Code pany posed therefor and general laws of the state, and subjected to all the restrictions of the same, relating to railway companies, and not inconsistent with this act. Powers con ferred and restrictions im Power to bor to secure the loan 6. Said company shall have power to borrow money to row money and such an amount as it may deem proper, not exceeding in the aggregate twenty-five thousand dollars per mile for its single track, and thirty-five thousand dollars per mile for its double track; and to issue for any loan, debentures or bonds of the company, bearing interest at such rate not exceeding eight per centum per annum, as the company may determine by Where interest resolution or establish in its by-laws. Said debentures or bonds, with coupons attached, may be expressed in the alternative sums of one hundred pounds sterling, or five hundred dollars gold, or multiples thereof, with interest payable in New York, or London, England, at the fixed rate of exchange of four shillings and two pence sterling per dollar. To secure the payment of such loan or loans, principal and Mortgages and interest, said company may execute one or more mortgages or deeds of trust on the whole or any part of its property, on debt to be paid deeds of trust tee to convey property mort rations, city, county, or town terest real, personal and mixed, its charter, rights, and franchises, and may lawfully include in any such mortgage or deed of trust the whole or any part of its lands, and the whole or any part of the corporation, city, county or town bonds held and owned by it, and if so included, the mortgage or deed of trust shall invest the trustee or trustees therein named with Powers of trusthe full, complete and perfect legal title to said lands and bonds, rights, franchises and estate aforesaid, for the purpo- gaged ses of the trust created by such mortgage or deed of trust; and said trustee or trustees shall have power to convey to any purchaser or purchasers of the whole or any part of the mortgaged property, assets and franchises, as full, complete and perfect title thereto as was held and possessed by said company, should any sale thereof be made as provided for in such mortgage or deed of trust. Any corporation, city, Bonds of corpocounty or town subscribing to the capital stock of said company may execute, at the option of said company, one single bond for the whole amount of its subscription, and providing on its face for the payment of interest, and embodying an agreement on the part of such corporation, city, county, or town that the said bond may be mortgaged as a part of the property and assets of said company for the security of its own bonded debt proper, as herein authorized. Any bond Security or bonds so mortgaged and pledged shall be held by the trustee or trustees as collateral security and indemnity to the holders of the debentures or bonds of said company; and the Payment of insaid trustee or trustees shall have full power, under such regulations as the said company may prescribe, to collect and receive from such corporation, city, county or town, the interest on such bond or bonds, and apply the same as may be required by the terms of the mortgage or deed of trust; and How enforced to enforce payment thereof, in the event of default on the part of any corporation, city, county or town, in meeting its obligations, said trustees shall have the same remedies that said company would have as the original obligee and holder of such bond or bonds, and may enforce the same in any court having proper jurisdiction of the subject, either in their own names as trustees, or in the name of the company, at the option of said trustees or a majority of them. Any receipt or acquittance given by said trustees, or their duly authorized agent or attorney, for any and all payments on account of the bonds aforesaid, for principal, sinking fund or interest, to the proper officers of such corporation, city, county or town, shall be a full and complete release and discharge for so much as is paid to said trustees, their agent or attorney; and it shall not be obligatory on the part of any Company to be such corporation, city, county or town to see to the proper adelity of trusresponsible for application of such payments under the mortgage, the whole tees responsibility for the fidelity of the trustees aforesaid being hereby imposed upon said company and its creditors. Said Cumulative company shall provide, in any mortgage or deed of trust it upon mortgaged may execute as aforesaid, for a cumulative sinking fund of at debt least two per centum per annum upon its mortgage debt, for the sinking fund off payment of its debentures or bonds at par in sterling or gold dollars, in the proportion of one pound sterling to five gold When to be paid dollars, and may apply such sinking fund by allotment or annual drawings, to commence on the first of January, eighteen hundred and seventy-eight, and to pay off in this manner the whole of said debt by the first day of January, eighteen hundred and ninety-eight. Such drawing to be provided for and regulated under the by-laws of the company. Company au thorized to dis pose of capital not subscribed 7. It shall be lawful for said company to dispose of any portion of its share capital not taken up by the subscriptions aforesaid, in such manner as its board of directors may determine in furtherance of the objects and interests of the company; and it may issue therefor at any time, and from time to time, certificates full paid and unassessable, and in all respects similar to shares previously issued to subscribers Power to declare to the capital stock; unless, in the judgment of said company, such share pre- it may become expedient to declare a portion thereof a preference stock, which may lawfully be done by a majority of shareholders at any legal meeting, regular or called, held under this charter. ference stock Branch roads authorized; cated 8. It shall be lawful for said company, in addition to its where to be lo- main line from Richmond to the Clinch river valley, and beyond, to construct, equip, maintain and operate in the counties of Patrick, Washington, Smythe and Carroll, or Grayson, branches of the same guage as the main line to any coal, iron, gypsum, salt, copper, lead, or other mineral deposit, or any quarry in any of said counties, within fifty miles of the main line, and a branch from any point on its line to tidewater anywhere between Richmond and Norfolk ; or to connect with any other railroad leading to tidewater; Increase of cap- and for the construction and equipment of any of such branches said company may, from time to time, increase its capital stock beyond the maximum herein before authorized to an amount not exceeding twenty-five thousand dollars per mile of such branch or branches, and obtain subscriptions thereto, and borrow money thereon separately, or on the general credit of the company to the same proportional amount as herein provided for the main line, by indentures, bonds, and mortgage or deed of trust. ital to construct branches, or may borrow money therefor Connections with other railroads terchange of cars 9. Said company shall provide for a fair and equitable connection with all other railroads it may intersect in this state, without discriminating against such roads in the interchange of freights and passengers, where such roads consent to reReciprocal in- ciprocate and pro rate with said company; and where the guage permits, said company shall provide for a reciprocal interchange of cars upon equal and indiscriminating pro rata terms with any such intersecting or connecting road in this Disagreement state. Any dispute or disagreement arising under this secnecting lines to tion which the parties cannot settle, may, by their agreement, be referred to and determined by the board of public works of Virginia. between con be settled by board of public works 10. After the main line of said railway shall have been |