The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-01-09
NORFOLK AND WESTERN ExrEN.
SION COMPANY.
The Bin Pending In the senate and
Now on It's Engrossm

The Bi1I Pending In the senate and
Now on Its Engrossment.
The following is Senate bin No. 81, "to
incorporate the Norfolk and Western
Extension Company."-[Patr0n, Mr..
Trout, ]-reported by Committee on Roads
without amendment
| 1. Be IL enacted by the General Assembly
| Of Virginia, That John w. Robinson, NJ.
b. Tate, p. l.. Terry, f. J. Kimball, f. w.
Clark, Il. A. Rollins, John c. Bullitt, e..
ii. Clark, Joseph l. 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 q
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 privi-
leges pertaining to corporate bodies and
necessary for the purpose Of this act.
| 2. The capital stock OF said company
shall not be less than 100000, but may be
increased at any meeting OF the stock
holders called for that purpose. not less
than three ffths OF the stockholders voting
therefor, by issue and sale OF the shares
thereof, not less than 800 each. under
such regulations as the Board OF Directors
OF said company shall from time to time
prescribe; and the directors may receive
real estate, bonds, stock, or personal pro-
perty in payment for subscriptions to the
capital stock at such valuation as may be
agreed upon between the directors and the
subscribers.
3. The said company is authorized and
empowered to purchase, hold, own, lease,
and control in any manner, grant, bar
gain, sell, mortgage, convey, and other
wise dispose Of real and personal estate in
this State or elsewhere, and lay ont said
lands, or any part thereof, into parcels or
lots OF convenient size, with intervening
road, lanes, streets, and alleys, and to de-
yelop, work, improve, and cultivate, or
otherwise dispose OF the same, in such
manner and upon such terms rs the said
company may think proper; and may pur-
chase, lease, hold, use, operate, and main
tain any work OF public or private i'm
provement in this State or elsewhere
| (whether now or hereafter constructed or
au.horized), with the right and power TO
| lay out and construct any roads and rail-
roads from a point on the Norfolk and
Western railroad between Seven-M Mile Ford
and Bristol, to point on the New River di-
vision OF the Norfolk and Western railroad
at or near Speedwell Furnace, on Cripple
creek, in Wythe county, with one on more
branches extending into the mineral dis
tricts OF East Tennessee and Western
North Carolina Prouided, That nothing
in this section shall be construed as eX-
empting the said company from the pro-
visions of chapter 61 OF the Code of 1873,
| II it shall engage in constructing any such
work OF public improvement In this State,
and any company or companies OF this
State with which It may desire to contract
or connect for any OF the purposes OF this
section shall have full power to make and
carry ont any such contract or make such
connection.
4. The said company is authorized and
empowered to mine and quarry coal, iron,
and other minerals, and prepare and man.
uiacturc the same for use and for sale in all
manner OF forms it may adopt; and to
manufacture and prepare for market and
sale lumber and other products OF its lands
and for this purpose may erect and operate
all kinds OF furnaces, mills, manufactures,
| coke-ovens, works, and machinery necessa-
ry for the enjoyment OF the privileges
herein granted to the fullest and most am
| pie extent. The said company shall also
have power and may manufacture, pur-
chase, sell, ship, and deal in goods. wares.
and merchandise, and may loan money on
minerals and other products, store goods,
wares, and merchandise. and grant certiii-
Gates therefor in such form and under such
rules and regulations as the said company
may from time to time bv bylaws pre-
scribe.
3. The persons named in this act, or such
OF them as may accept its provisions and
participate in the organization OF the COM
pany. shall constitute the first board OF
directors OF the said company, and shall
continue in Office until the first meeting OF
the stockholders thereof. At such first
meeting, and at every annual meeting, so
many directors shall be elected rs may be
prescribed by the bylaws and regulations
OF said company who may beremoyed by
the stockholders in general meeting; shall
continue in Office until their successors
shall be elected and qualified.
g. The Board OF Directors shall be stock
holders of said company. They shall alj-
point one OF their number president, and
may fill any vacancy that may occur in said
board unless by removal; in which case
the same shall be filed by the stockholders
in general meeting. The board shall ap-
point, to hold during its pleasure, the sub
ordinate officers and agents OF the said
company, prescribe their compensation.
and take from them such bonds, with such
security rs they may deem tit.
:. The Board OF Directors may establish
offices and agencies at such places as they
may deem proper, but the principal office
OF the company shall be located at Abing-
don or at some other point within the linz
its of the State OF Virginia, as the stock
holders may from time to time by resolu-
ton prescribe, at which place The annual
meeting OF the stockholders OF the said
company shall be held on the first We'd |
nesday in May OF each year, or on such
other day rs the stockholders may by resO
luton prescribe. A general meeting OF
the stockholders Of said company may be |
held at any time, as provided for by the |
Sth section OF chapter 81 OF the Code OF !
Virginia, edition of 1873. Each stock |
holder in the said company shall at all
meetings or elections be entitled TO one |
vote for each share OF stock registered in |
his name.
s. The said company shall issue certiti- |
Gates OF stock In said company to the sub
scriDers thereof, in shares OF not less than
800 each, signed by the president and
countersigned by the secretary OF said COM
pany. The said certificates shall be trans
ferabe only on the books Of the company
by the stockholders, their personal repre-
sentatives or duly-autborized attorney: and
the said certificates when so transferred as
shall be returned to the said COM
pany and cancelled. and new certificates OF
stock shall be issued in lieu thereof to the
person entitled thereto for number Of