Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1870-06-17
VOL. Y.

I
they are hereby constituted a board o
commissioners, a majority acting. I,
effect the organization of the Atlantic
Mississippi and Ohio railroad COMPANY
n provided by the terms of this act.
2, That the said Atlantic, Mississippi
and Ohio railroad company NAV hav,
capital stock of twenty-five millions
OF dollars, such part to be made com
mon, such part preferred and such par
and interest guaranteed stock as tho
president and board of directors of th,
said company may prescribe-all, how,
ever, TO be rated at one hundred dol
lars per share, par value.
3. That 1t shall be the duty of tn c
commissioners above named, actina
directly, or by their agent or agents, &c
10 arrange with the stockholders, Other
than the State, of the Norfolk and
Petersburg, Southside, Virginia and
tennessee, and Virginia and Kentucky
railroad companies, as to the relative
value of their stocks. and to receive
subscriptions to the capital stock OF
the said Atlantic, Mississippi and Ohio
railroad company, to be paid i'm the
stock of the said Norfolk and Peters
qurg, Southsidc, Virginia and Tennes-
see and Virginia and Kentucky rail-
roads, at such rate or valuation as may
have been agreed upon :'provided, that
such valuation shall allow to each
stakeholder of the Norfolk and Peters
burg, Southside, Virginia and Tennes-
see railroad companies, subscribing to
the capital stock of the said Atlantic,
Mississippi and Ohio railroad company
at least as many shares as such stock
holder now holds In the aforesaid COM
panies, and for the purpose the moro
rca,iily of arriving at such valuation,
it shall he lawful for the Stockholders.
other than the State, of the said Nor
folk AMI Petersburg, Southside, Vir-
glnia and Tennessee, and Virginia and
kentucky railroads, TO hold n Joint
meeting at such time and place as the
aforesaid commissioners may desig-
nate; and it shall be competent for q
majority of the stockholders assembled
at such meeting, each company acting
separately, to agree upon such valua-
ton provided, that no stakeholder
in any one of the said companies shall
be required to subscribe or merge his
stock in the capital stock of The said
Atlantic, Mississippi and Ohio railroad
company without his consent, or ex-
cept on terms agreed to by such stock
holder.
4. That whenever il shall appear to
the satisfaction of such commissioners
that a majority of the stock, as to
share, held in the said Norfolk and
Petersburg, Southsid, Virginia and
Tennessee and Virginia and Kentucky
railroads, or of that held in a majority
of the said companies, by others than
the State, has been subscribed to the
capital stock of the said Atlantic, Mis-
sissippi and Ohio railroad company, a
general meeting of The stockholders,
so subscribing to the capital stock of
the said Atlantic, Mississippi and Ohio
railroad company, shall be held at such
time and place is may he designated
by the said Commissioners notice of
the same to be given by publication in
one or more newspapers published in
the cities OF Norfolk, Petersburg, Rich
tu0nd and Lynchburg and in the town
~ BristOi-GOodson, unless il shall APP
pear vt the joint meeting provided TO
be held by the terms OF the preceding
section OF this act, that such amount
of stoca has been subscribed, i'm which
event it shall be competent to proceed
then and there to organize the said
Atlantic, Mississippi ana Ohio rail-
road company, as provided by the
le'mS of this act.
5. That the Stockholders of the said
Atlantic, Mississippi and Ohio railroad
company may, at the general meeting
hereinbciore provided, a majority of
the stock subscribed being so rcpres-
ented, proceed. under the supervision
of the said commissioners, TO organize
the said Atlantic, Mississippi and Ohio
psti lrf gfA oil hnp
things in furtheiance of the objects of
this act as may I've lawful to be done;
and finally, upon the organization of
the said company, so authorized, the
functions of the said commissioners
shall determine, and the said Atlantic,
Mississippi aud Ohio railroad company
shall be IA body cooperate and polite,
vested with all the rights and privil-
eyes conferred by the laws OF the Com
monwealth, and subjected to such rs
apply to the railway corporations
thereof generally.
@. That in the primary organization
of the said Atlantic, Mississippi, and
Ohio railroad company, as herein pro-
vided, and in all subsequent meetings
of the same, each stockholder shall be
entitled to cast, in person or 10y proxy,
one vote for each share of stock held
in the said company; and Mt such pri-
mary organization it shall be compe-
tent TO elect such number of directors
as the stockholders may see fit, and 10
determine the mode of electing pres
ident and directors.
Z. That the said Atlantic, Mississippi
and Ohio railroad company, at any
time after its examination, shall have
authority, should it 80 desire, to ar
range with the Norfolk and Peters
burg, Southside, Virginia and Tennes-
see and Virginia and Kentucky rail-
road companies, or with any of the
said companies, by lease or otherwise,
for the use Of the franchise and pro-
perty of the same, upon such terms as
may be agreed upon by their stock
holders in any general meeting.
s. That the said Atlantic, Mississippi
aud Ohio railroad company, acting by
such agent or agents as may be app
pointed by its president and board of
directors, shall be entitled to represent
In all meetings of die stockholders of
the said NoriolN and Petersburg,
SOuthside, Nirginiaand Tennessee and
Virginia and kentucky railroad COM
panies-so long as there shall remain
any such distinctive organizations.
from the failure ;f a majority of tie
Stockholders thereof to subscribe or
merge their stock In the capital stock
of the said Atlantic, Mississippi and
Ohio railroad company as herein pro-
vidod--all the stock OF the said com
panics which shall have been sub
scribed TO the capital stock of the said
Atlantic, Mississippi and Ohio rail-
road company, casting the same num-
.f Tf.s lff. L..
map have SO subscribed to the capital
stock of the said Atlantic, Mississippi
s;oclIhOlder would be entitled To cast
by law, If such subscription and trans
fer had not been made.
8. That upon the formation of the
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