The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-02-28

of acres of land, in payment for sub
scriptions of stock, or by purchase; pro
YIded, however, IL shall not be law full
for said company at the expiration of
ten years affer the completion of their
road, to hold more land than shall be
necessary for the use of the road IIT'E
81 Said company, may elect such
number of directors, and provide for
the election or appointment OF such
officers and agents as 1t may decide to
be necessary for the management ofits
affairs. -na -a71G s1 lii1 r.
10. Each stockholder shall have one
vote in the meetings of the stockhold-
ers for every share ofstock held by him.
IL. should vacancy at any time oc-
cur in the board of commissioners of
the Covington and Ohio Railroad from
the death, resignation, or disability to
act, of any of its members ,tit shall be
the duty of the Governor OF the State
in which such member resided, to I'LL
the vacancy by . new appointments. p
II. II shall be lawful for the commits
siouers 10 cause books of subscription
to the stock of the CoVington and Ohio
Railroad Company TO be opened lat
such places and under the direction OF
such agents as they may appoint, with
the view of organizing a Company. to
accept the charter of the Covington and
Ohio Railroad, and construct said rail-
road 7-i s 1--1s~ a.-F- -.l' 10
Is. The said Chesapeake and Ohio
Railroad Company shall have the
right, at any time within two years
after its organization, to purchase the
stock held by the State OF Virginia at
the date of the purchase in said com
pany, by transferring 10 the board of
public works ofVirginia, bonds of the
State of Virginia for an amount equal
to the stock proposed to be purchased,
and also to pay any debt which il NAV
owe to the State of Virginia at the date
of the payment on account of loans
made TO any of the companies which
may have consolidated, by surrender
ing to the board OF public works of
Virginia, State bonds for an amount
equal to the debt proposed TO be paid,
ana may also purchase the right Of the
State or Virginia in and to the Blue
Ridge Railroad by the surrender of
State bonds TO an amount equal to the
value of said road at the time of DUR
chase, under the contract with the Vir-
ginia Central Railroad Company, said
amount to be ascertained by the COM
missioners ofthe Covington and Ohio
Railroad 1t shall also be lawfnl for
any stockholder in the Chesapeake and
Ohio Railroad Company to purchase a
part or the whole of the stock held by
the state of Virginia at the time of the
purchase, in the company of which he
Is a stock holder, by transferring TO the
board ofPublic works of Virginia, State
bonds equal in amount 10 the stock
proposed to be purchased. But moth
ing in this act contained shall be held
TO bind the State of West Virginia for
any part of the debts of Virginia.
II. The Virginia Central Railroad
Company and the West Virginia Cen
tral Railway Company, or either of
them, may contract with the Covington
and Ohio Railroad Commissioners for
the construction of the railroad from
Covington TO the Ohio river. and in the
event such contract be made, the said
Virginia Central Railroad Company or
West Virginia Central Railroad Com
pany shall be known as the Chesapeake
and Ohio Railroad Company, and shall
be entitled to all the benefits of the
charter of the Covington and Ohio Rail-
road; and TO all the rights, interests and
privileges which by this act are con-
terred upon the Chesapeake and Ohio
Railroad Company when organized.
15. 1t shall be lawful for the board of
supervisors of any county TO take the
sense of the qualified voters of their
county upon the question of subscrip-
ton to the stock OF any company which
may be authorized to construct the
railroad from Covington, in the State
of Virginia, to the Ohio river; and
should Ihree-tifths of the persons who
may vote on such question vote in
favor of the proposed subscripti on, the
said board of supervisors shall appoint
an agent to subscribe for the amount
OF stock which may have been author
lied by the vote of the county, and also
an agent to negotiate a loan or loans in
the name of the county, at a rate of in
terest not exceeding ten per cent per
annum, for the purpose of paying such
subscription of stock, and said board
of supervisors shall be authorized 10
issue the bonds, coup or registered
OF the county Tor the amount of such
loans; and said board of supervisors
shall, from time to time, assess and
collect taxes upon the taxable subjects
of their county sufficient TO pay the in
terest upon such loans and the final
extinction of the principal thereof.
10. James Burley, n. d. Ramsdell,
Harrison Hagans, Joel Mcpherson and
John S. Cunningham, are hereby ap-
pointed commissioners on behalf of
West Virginia in lieu of the commits
sioners appointed by the act passed LIST
of March, 1866, entitled an act "to in
corporate the COvington and Ohio Rail-
road Company" with all the powers
vested in the former commissioners by
said act, and said commissioners NAV
act conformity with the commissioners
of Virginia, or may act separately. But
no act of the said commissioners wheth-
er acting by themselves or in conjunc-
tion with the commissioners appointed
by the State of Virginia, shall be valid
or efectual unless approved of or voted
for by at least three OF the commission
ers appointed by this act.
IL. 1t shall be the duty of the COM
pany which may be formed under this
act, to file within thirty days after their
organization, with the Board of Public
Works of Virginia and West Yirginia,
duly certified and correct copy of the
terms of consolidation.
FROM W1.mTNaTox.