Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1846-04-30

to interfere with the James river canal,
or the line of the J. r. and K. Compa-
ny's improvement as aforesaid. The
capital ofthe company is So, COO, 900.
| The roadls to be commenced at that
point at or above Lynchburg at which
itshall touch or most nearly approx
mate the James river, and TO be COM
| pletedt to its Western terminus of the
road at the same time. The company
may expend rot exceeding two millions
of dollars in the purchase Of property,
and have the right of buying. selling
and improving unsettled and waste
lands west of the Blue Ridge, and of
carrying on manufactures ofiron, wool,
cotton and other articles, and Of mi
ming for, coal, iron and lead; but the
western section of their road is to be
completed before they can appropriate
any part of their capital to manufactu-
ring or mining purposes. Their priv
ileges are restricted to the distance of
twenty miles from the line of their
road, and they are prohibited from ves-
! ting in real property more than $780,
900. They have the power to con-
struct lateral railroads Of twenty miles
in length in any direction, if they do
no, interfere with any existing line Of
Improvement Books for subscriptions
to be opened within six months from
the passage of the act, and when the
whole, or one fourth part of the capi-
tai is subscribed, general meeting is
to be called to choose president and
directors. The act exempts the capt.
( tai and dividends of the company from
taxation, unless the nett income shall
exceed six per cent, in which case
the dividends may be taxed as divi-
dends of other companies at the time
are taxed. The company are to COM
mence their work within two years,
and place under contract not less than
eighty miles Of their road, and com
:plete and put III operation after the ex
piration of three years from the pas
sage ofthe act not less than fifty miles
annually OF the same, under penaty of
forfei'ing any portion of the road that
may not have been commenced. When
three millions have been subscribed,
and one million actually paid into the
Bank of Virginia or Farmers Bank, of
Virginia, to the credit of the company,
and the residue thereof is fully secured
to bepaid in, the company are to be
vested with all their corporate powers,
and are authorized to borrow money to
aid in the construction fthe road, and
to issue its bonds therefor, and to pledge
any unsubscribed stock of The compa-
ny as security for such loans, with the
privilege of converting the same into
stock; the amonnt to be borrowed to
be limited by the amount of stock ac-
tually paid in or secured as aforesaid.
The State have the right after thirty
years, and every three years thereafter,
to purchase the capital stock of the
company invested in the main line of
the road at par, and such interest as
shall make good to the company six
per cent. upon the stock from the time
of paying in the same, in case the
stockholders have received . less sum
in dividends. The maxium toll for
passengers on the road is limited al
four cents per mile. IL 4 5iH9f
An act supplementary to an act en-
titled, an act Incorporating, the. Presi-
dent and Directors of the Southwes-
tern Turnpike Road, and for other pur-
poses. Vests in the State the fee sim :
pie title to the land upon which the
road is located, with the lots obtained
for tolhouses, and other necessary pur-
:. poses. Prohibits the company in lay
ing out their road from invading the
dwelling house, yard or garden of any
proprietor, without his assent, unless
the cost of constructing the road shall
thereby be increased to an extent dis
proportioned to the value oftEe proper
ty invaded. If any person or corpora
ton shall deem himself or themselves
aggrieved by the location Of the road,
or the works Of the company, they are
allowed twelve months to file sug-
gest;ony of the injury complained of,
and for which damages are claimed,
before the County or Curcit Court, and
the Court may cause jury to be i'm
pannelled to assess the. damages, and
the Courts are required to raise the ne
cessary funds for paying such damages,
by assessment on all property subject
to taxation under the State law. In
fants ale allowed six months to assert
their right to damages after attaining
legal age. In locating the road, the
Engineer is required to pass by Chris
tiansburg or Bladensburg, as he may
prefer. Repeats SO much of the ninth