The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-02-20
NORFOLK AND wEsTERN.
Proposed Substitute for the Pending.
ELL 90 Incorporate she Norfolk
and Western Extension
Company.

Printed copies of the following were
distributed is the Senate yesterday. sub
stitute for Senate bill 81
WESTERN EXTENSION COMPANY.
1. BE ii enacted 6y the General ASSEMBLY
of Virginia, That John w. Robinson, NJ.
3. Tate, =. L. Terry, f. j. Kimball. L,
w. Clarke, L. A. Rollins, John C.. Bullitt,
c. ii. Clark, Joseph i. Doran, or such OF
them as may accept the provisions OF this
act, their associates and successors, be, and
they are hereby, incorporated and made a
| body polite and corporate under the name
and STYLE OF the Norfolk and Western EX.
tension Company, and by that name shall
be known in law, and shall have perpetual
succession, and shall have, enjoy, and eX-
ercise all the rights, powers, and priyi-
| leges pertaining to corporate bodies and
necessary for the purpose OF this act.
| 2. The capital stock of aaid company shall not
be less than 100000. but may be Increased TO any
| amount not exceeding Sl0,OU0,OuO,a lat any meet
| ing of the stockholders called for that purpose,
not less than three ths Of the stockholders voting
therefor, by Issue anc sale of the shares thereof,
4 not less than 500 each, under such regulations as
| the Board of Directors of said company shall from
time 10 time prescribe; and the directors may re-
eelye bonds. stock or personal property In pay
meut OF subscriptions 20 the camtal stock at such
| valuation as may be agreed upon between the d.
| rectors and the subscribers.
| 3. The said company Is authorized and empow-
cred To purchase, hold, Own lease, aud control In
any manner, grant, bargain. sell, mortgage, con-
vey, and otherwise dispose OF personal estate In
| this state or elsewhere, and may purchase, lease
hold. use, operate, and maintain any work Of pub
lie or private improvement In this State or else
| where whether now or hereafter constructed OF
| authOriZPdl with the right and power TO lay Oul
and construct any roads and railroads from point
| on the Norfolk and Western railroad between
| Seven-Alile ford and Bristol 10 point on The
| New-River division Of the Norfolk and Western
railroad at or near Speedwell furnace, on Cripple
| creek. IN Wythe county. with one or mOrt
branches extending into the mineral districts o
| East Tennessee aud western North Carolina
provided, that nothing in this section shall b.
| construed us eNfmpting the said company from
| the provisions of chapter 81 of the Cod
| Of 1873 If 10 shall engage In constructing an'
| such work Of public improvement In this State
and any such company or companies of this state
| with which IL may desire to contract or connect
for any OF the purposes of this section, shall have
| full power 10 make and carry out any such con-
| tract or make such connection: ana provided
| also that the said company shall begin the con-
siructiOn OF such work OF public improvement
within three wears and complete the construction
Of the same within ten years from the passage OF
this act and provided further. that IN their rea-
tion as carriers there shall be no Discrimination
against the citizens Of the counties through which
the road lies either to rate or transportation IA
cilities.
4. The persons named in this act, or such OF
them rs may accept It's provisions and participate
| in the organization OF the company shall consti
tute the first Board of Directors Of the said com
pany, and shall continue in office until the iirs
| meeting Of the stockholders thereof
| 3. IL hall be lawful for the said company tc
issue and sell its bond, from Time TO line. suci
| terms ITS Board OF Directors may deem expe-
denI and proper In the prosecution of any Of IL
works, and 10 secure the payment of said bonds by
mortgages or deeds of trust upon all or any pOr-
ton of It's property and franchises. And IL shall
be lawful for said company to acquire by subscrip
| fiOn. uuFpnagp. otherwise. guarantee
portion of the bonds or capital stock of any rail-
| road corporation: provided, IL shall not acquire
subscribe to- own any OF the capital stock, or 10
own or guarantee any Of the bonds other oblIga-
| tlons of any OTHER railroad company incorporated
under The laws of this State, ise line OF which does
not connect with or is parallel 10 or competing
| line with its own line
q The company hereby incorporated shall pay
| all taxes assessed against II In lawful money OF
| the United States, and not In virginia coupons.
| Z. This act shall be In force from its passage
but the General Assembly OF the state Of Virginia
reserves TO itself the right TO modify alter, or re-
| peal this act at sny lime hereafter.