Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1867-02-21
orange, Alexandria & M G. Railroads.


having passed both branches of the Legis-
lature is now a law. This, we think, is
the best. arrangement that could have been
made. certainly much better than either
of the other propositions submitted to that
body. The following is a copy Of the bill
as it passed:
Wbereas-a petition has been presented
to the General Assembly by the president
Of the Manassas gap railroad company.
setting forth thata contract is being ne
gotiated between said company and the
Orange and Alexandra railroad company,
whereby the charter, franchises and all the
property of the Manassas gap railroad
company shall be transferred to and be
vested in the Orange and Alexandra rail
roa company, and also, whereby all the
stock held in said company, whether held
By the state, by the city Of Alexandra, by
counties, or individuals, shall, with the
consent OF the stockholders, be transferred
to and be merged in said Orange and Al
exanlria railroad company. upon the said
last mentioned company complying with
and performing the terms, stipuations and
conditions herein set forth, to wit: That
the Orange aud Alexandria railroad com
pany shall commence the rebuilding and
construction of the Manassas gap railroad
within four months from the passage of
this act, and complete ii 10 IIarvisonburg
within two years from said Date, ami that
said Orange and Alexandria railroad com
pany shall assume the payment Of all debts
due by said Manassas gap railroad compa
ny, whether bonded Or float. nr, an w,iettl .
er now ascertainea or to be ascertaiaad,
and that the charges for transportation Of
LEGAL freights and passengers shall be the
same, pro rata. on the lines OF the Nanas-
sas gap and Orange @ld Alexandria rail
road, ana that two directors be added to
the board of the Orange aud Alexandria
railroad company as now constituted, to be
elected By the stockholders, of whom one
shall be taken, from the Piedmont and the
other from the Valley counties on the line
of the Manassas gap road, and that all
the property rights, charter, franchises
and stock granted and transferred to the
said Orange and Alexandria railroad com
pany by the contract shall be forfeited and
revert to the Manassas gap company and
its stockholders, on the failure Of the said
Orange and Alexandria railroad company
to comply with and perform the stipulations
and conditions Of said contract AMI
whereas said petition sets forth that it is
necessary in order to give validity to said
contract. and to carry it into effect, that
an act of assembly authorizing it. to be en-
tered into shall be obtained and further,
that to enable the said Orange and Alex
anlria railroad company to obtain the
money to complete and equip the said Ma
nassas gap railroad it should be authoriz
ed by law to borrow sun not EXCEEDING
two millions dollars, to issue the bonds Of
said company and to mortgage both it's
o.zu road and the newl acquired Manas-
sas gap road to secure the payment of said
loan, and it is deemed expedient by the
the said General Assembly that the prayer
Of petitioners be granted: Now, therefore,
/. Be it enacted That the said compan-
les be and they are hereby authorized and
empowered to enter into contract contain
ing substantially the provisions above set
forth, ana with the conditions and restric-
tons above recited.
2. That when the proposed agreement
between the two companies is effected and
confirmed by the stockholders of both COM
panics, the charter, franchises Except the
right given to the Manassas gap railroad
company by act Of Assembly passed Feb
ruary I'd, 1866, to construct a railroad be-
tween Strasburg and Winchester). the
road, and the property and rights of the
Manassas gap railroad company be trans
ferred to and the title to the same be vest
ed in the said Orange and Alexandria rail
troad company.
3. That when the transfer Of charter is
determined upon by the respective compan-
les, the Orange and Alexandria railroad
company may assume and be known by
the name of the Orange, Alexandria and
Manassas railroad company.
4. That for the purpose Of rebuilding
and equippng the line from Manassas
junction to Harrisonburg, the Orange, al.
exandria and .Manassas railroad company
shall have power to. increase the capital
stock OF. the said company FIVE hundred
thousand dollars, and to issue its stock for
the same, and shall have authority to bor-
row two million dollars, issue the bonds
ana mortgage the lines of the Orange. Al
exandria and Manassas railroad for the
~
5. The said company shall have the
right, with the consent Of the Valley Rail-
road Company, to extend their road from
Harrisonburg to the terminal point as fix
ed in its charter, and for this purpose shall
have all the powers conferred by the Code
and laws Of Virginia and may increase its
capital stock not exceeding two million
dollars and make part thereof preferred
stock and borrow such sums Of money as
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