The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-02-08
me same may he appliqatla to such cor
Cannot Parallel Road.

l DOTHtiON.
Cannot Parallel Road.
| such entire surrender of tho old char
| ter aud the acceptance of the new char
ter, wien authorized by vote of two
I birds of the stockholders present or rep
| resented, and voting ut meeting (Which
| two-thirds shal amount to at least
! 1rajority OF the capital stock Of the cor-
| pcrntop) may be applied for by writing
! conforming as near rs may be to the
| form of the articles of association pre-
| acribed under section a. one Of chapter
two of the said "act concerning coipor,i-
| tons which became a law ON May
| twcnty-first, nineteen hundred and three,
! and any amendments thereto. signed In
| the name, of the corporation by Its presi-
| dent. or by one OF It's vice.
| presidents. under its corporate seal,
attested by its secretary, and
acknowledged by tho officers signing
| the same before any person authorized
| by the law of this State to take ac-i
| acknowledgements of deeds. and when so
signed and acknowledged the said writ
ing, together with the receipts for the
| payment of any fee to the State that
may be imposed thereon by law. may be
presented TO the state corporation COM
| mission, which shall ascertain and declare
| whether the applicants have, by comply
| lHR Wltil the requirements OF the law,
| surrendered their old charter and rtitled
themselves to such new charter under
the general laws of this State, and shall
issue or refuse the same accordingly. II
the same be issued the said application
with the order thereon of the state cor
poration commission, shall forthwith be
certified to the secretary of the Common
wealth, as required by law. and by the
last named officer recorded in the charter
records OF his office. who shall thereupon
endorse thereon the fact of its recordatlon
and return the same to the State corpora
ton commission to be logged and preserved
In the office of its clerk. And when the
said writing. with the endorsements and
order OF the State corporatinl commits
sion thereon. shall be lodged in the Office
OF the secretary of the Commonwealth.
such legislative charter of said railroad
corporation shall entirely cease and de-
termine, and such amendment OF new
charter shall, to all lntents and purposes, /
Immediately become the entire charter OF
said railroad corporation and be effec-
tive from and after that time, unless
different time be fixed In said writing for
the commencement thereof, In which lat,
ter event such new charter shall begin
at the time SO fixed A copy of such APP
plcation and order. duly certified by the
secretary of the Commonwealth under the
seal of the State, shall be evidenced in
In stated and of the surrender of the
old charter and of the granting OF such
new charter.
1t is specifically stated in the act, that
no railroad company heretofore or here
after Incorporated. or whose charter may
have been Or may, hereafter be amended.
shall have power to build any railroad
parallel TO the line Of the Richmond, Fred
ericksburg and Potomac Railroad.
AS already indicated the provision made
| for the State under the new plan meets
with the approval of the treasury OFF,
Gals. The third bill amply safeguards
the Commonwealth It provides that the
| board of sinking fund commissioners OF
the State OF Virginia shall be authorized
and empowered to exchange all of the
shares of the capital stock and all of the
| dividend obligations now held by the
| State III. the Richmond. fredericksburg
| and Potomac Railroad Company. for new
or other shares which the company may
| hereafter issue under any newsor amend
ed charter which the company may effect
and accept according to law: provided,
! however. that the proportion of stock
allotted TO the State Of Virginia. under
| such new or amended charter shall bear
| the same relative proportion to all the
| stock to lbe issued under such new on
amended charter as the present stock of
! the State of Virginia bears to the entire
present stock; and5ithe shares of stock
Issued to the State of Virginia in leu
| of It's said dividend obligations shall bear
| the same relative proportion to all the
stock of said company issued inlieu of
its said dividend obligations as the
! number of dividend obligations now own
ed by the State of Virginia bears to the
entire number of dividend obligations of
said company. and provided, further,
that such guaranteed stocks as said com.
pany may issue in lieu of its present
| guaranteed stocks shall bear no greater
guarantees as to principal or interest than
the existing guaranteed stock of said
| company.
The act further recites that should the
Richmond, Fredericksburg and Potomac
Railroad Company hereafter become law
| fully merged into any other corporation
under the laws of the State of Virginia,
1t shall be lawful for the board of sink
ing fund commissioners of the State of
Virginia. by and with the written con-
sent and approval of the Governor AMI
| encouragement of the State of Virginia
to surrender all of the stocks and divi-
dend obligations now held by tho State
of Virginia in the Richmond. Fredericks-
burg and Potomac Railroad Company,
and to accept in lieu thereof the stocks
of such new company created by such
merger, or OF such company into which
said railroad company may be merged
and the board of sinking fund commits
sfoners, with the written approval OF the
Governor and encouragement OF this
State. are authorized and empowered
to do Mi acts which. in their Judgment
are necessary and proper in order to
effect such exchange OF such stocks and
dividend obligations.
G|0WEG G0Ee