The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1870-03-30
on,,,ne of the consolidation Bill.


Section appoints commissioners to or
canizc the company.
Section = authorizes a capital stock oil
$4,000, GOA in shares of 500 each.
Section ,. The commissioners arc to ar
range with the private stockholders OF the
Norfolk and Petersburg, southside, and
Virginia and Tennessee railroads, as to the
relative value of their stocks, such stocks to
lie receivable for subscript ons to the con-
sulidated company at rate 10 DC aSreco
upon; n joint meeting of all these STOCK
holders may he held, and maJorlty-each
Comrany acting scparatcly-may nN suci
valuation. No stockholdcr is to be required
tn merge his stock in the new company
without his consent.
Section 4. When majority Of the shares
held hy private stockholders IN these ola
companies, or in any two OF them, mas
been subscribed to the stock Of the new
company, tkcn the new company may be
organized.
Section ) provides for general meeting
cf the stockholders, TO proceed under the
provisions Of the act, and subjects the new
CORPORATION to such rights as apply to rail-
way corporations generally.
section 6. Each share of stock to have
one vote.
Section /. Authority given to arrange
with the old companies, or any OF them, by
purchase or otherwise, for the use OF their
franchises and property.
Section & gives the new company repre-
scnt,tion in meetings Of stockholders OF
,bc old co:nranies. casting the same vote
which all Of the stockholders who have
,o,, IL.
could have cast, in the aggregate, IN the
old companies. :.
Section Q. When the Atlantic, Mississippi
md Ohio Railroad Company is thus formed,
the Board Of Public Works shall sell to the
now company all the stock of the State IN
tic four old companies (and upon that
stock the new company may vote IN the
stockholders meetings OF the old compa-
mes a. the State could have voted), and
Shall also sell AL the Claims OF the State
against the old companies 10 the new COM
pany.
section 70. Tie State to be absolvcd from
Ltr subscription to the Virginia and Ken
t,.cty railroad and on the completion of
tha; road (Which shall be finished in six
ycSis) 10 collect, as she now collects, dues
irom railroad companies, an annual tax OF
Per cent. on the gross or net receipts
of the new company, which is the considc-
ration for Tic sale of the stock of the State,
and the debts due the State mentioned in
t!ir proceeding section.
Section IL. Authorizes additional sub
ftrip,ions in lands, bonds, or stocks, and
subscriptions by certain cities and counties,
aftcr a vote Of qualified voters is taken.
Section - authorizes holding and selling
subscribed lands.
Section Is authorizes issuing bonds, etc.
Section Il, as stock in the old companies
is absorbed by the new company, the rights
ot franchise and property pass, provided
that separate accounts shall he kept, so as
10 protect the rights Of stockholders, bond
holic~s, and all creditors, 20 long as any OF
the oh companies remain distinct.
Section - Jircs permission to CONSOLE
date with any railroad from Richmond to
E.ynshburg, or to arrange for interchange
OF passengers and freight and cars without
discrimination Of any sort.
Section IL provides for through bills and
certain pro rata charges on freight over
the canal coming from or going to Rich
lncnd.