The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-02-16

- f,ompany, or any two or more ..
Rs.soau ,.n,es. or if any Of the ofncers =.
ssio So a,anrs Of said companies, Of guy y.
stochno u ,hen,. or any person or persons oh
e'tnes ,, tho interest of said companies,
oehah y. nt,tnr of them, shall become tue
or any % majority of the capital stock OF
o.. OWN n,ssmond, fredericksburg and Poto-
. ru railroad Company, or shall oy lease
contract, agreement, or otherwise, 90.
tain and enjoy the use of the roao
now owned and operated by the saio
Richmond, Fredericksburg and Potomac
Railroad Company, then and in that even.
the property SO acquired or controlled sna'l
he subject to the above at the same rates as
other railroad companies in the State not
exempted from taxation, and sub,ect also
to all the other provisions of this act herein
prescribed for the Richmond and Hash'ns-
ton Railroad Company. or those ciatn''"g
Under them "a aforesaid, rs well AZ 10 'h
general laws now existing, or when una!
be hereafter enacted for the government Vi
Enthusiastically and the said "ash.hg,
ton and Richmond Railway Company shall
he assessed with and shall pay the amount
of said fax to the proper officers of the
Commonwealth during the term of such
lease, contract, or agreement, and all the
property of said company shall be liable
therefor as fully and to the same extent as to
the tax assessed upon its own property and
the said Washington and Richmond Rail-
way Company shall be required, upon the
completion Of the said road, if the General
Assembly shall so determine, or whenever,
under the provisions of this section, the
property of the said Richmond, Freder-
icksburg and Potomac Railroad Company
shall become subject to taxation, pay to the
State of Virginia in current funds the then
market value of the States interest in the
Richmond, Fredericksburg and Potomac
Railroad Company, and have and hold the
same as Its own; provided such market
price shall not be under sixty cents in the
dollar of its par value. If said stock be
under 60 cents in the dollar at that time,
then said company shall pay the State for
said interest in stock at the rate Of 60 cents
on the dollar, the present price of said
stock. Or, at the option of the General
Assembly, the said Washington and Rich
mond Railroad Company shall be required
to redeem the States interest in the capt.
tai stock Of said Richmond, Fredel icks.
burg and Potomac Railroad Company at
par with the registered or coupon bonds Of
the State !; provided said States interest in
the Richmond, Fredericksburg and Poto'
mac Railroad Company shall not already
have been sold by the State.
A WISE PRovIso.
Mr.. HENsLEY offered the following addi
tional amendment, which was accepted by
the friends of the bill:
Strike oct in section of Roller substi
tute all down to the word "and," in nth
line, and insert the following:
"That if the said Washington and Rich
mond Railway Company, or the Baltimore
aud Potomac Railroad Company, or the
Northern Central Railroad Company, or
the Pennsylvania Railroad Company, or
any two or more of said companies, or il
any of the officers or stockholders OF
sud companies, or any or either OF
them, or any person or persons on
behalf or in the interest of said COM
panies, or any either Of them, shall
become the owner or owners of u majority
Of the capital stock of the Richmond.
Fredericksburg and Potomac Railroad
Company, or shall by lease, contract, agree
ment, or otherwise, obtain and enjoy the
use of the. road now owned and operated
by the said Richmond, Fredericksburg and
Potomac Railroad Company, then and in
that event the property so acquired or con-
trolled shall be subject to taxation at the
same rates as other railroad companies III
this State not exempt from taxation.
Mr.. WooDsON moved further to amend
by adding the following. to come after the
amendment just agreed to:
"And subject also to all the other prov-
sions Of this act herein prescribed for the
Richmond and Washington Railroad COM
pany, or those claiming under the aforesaid
as well as to all general laws now existing,
or which may be hereafter enacted for the
government of railroads generally"
This amendment also was accepted.
Mr.. BUDD suggested division of the Sec
ton amended, but afterwards withdrew
the suggestion.
Adjourned.