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Acts of the General Assembly of the State of Virginia 1861-1862 |
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| Chap. 47 -- An Act to provide for the Construction of a
Rail Road Connection between the Orange & Alexandria and Manassas Gap
Rail Roads and the Richmond, Fredericksburg &Potomac Rail Road |
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Passed February 19, 1862 |
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Whereas it is of great importance to the military defence
and to the internal commerce of the state, that a rail road
connection be constructed between the junction of the Orange &
Alexandria and the Manassas gap rail roads and the existing rail
road from Richmond to Acquia creek: |
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1. Be it enacted by the general assembly, that the
Richmond, Fredericksburg & Potomac raid road company be and they are
hereby authorized, under the provisions of their charter, to extend
their rail road from some point on the same, between Fredericksburg
and Acquia creek, so as to form a junction of their rail road with
the Orange & Alexandria and Manassas gap rail roads, at the junction
of the said two last named rail roads, and passing through or with a
branch of the said connection, extending to Evansport, or the mouth
of Quantico creek {approximately 30 miles}. |
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2. For the purpose of effecting the object of this act,
the Richmond, Fredericksburg & Potomac rail road company are hereby
authorized to increase their capital stock in such manner as they
may deem most advisable, to the extent of seventy-five hundred
shares in addition to its capital hitherto authorized; or the said
company, to such an extent as they may deem advisable to do so, may
borrow money at a rate of interest not exceeding eight per centum
per annum, and issue proper certificates or evidences of debt
therefor, and make the same convertible into stock at the pleasure
of the holder; and may secure the punctual payment of the principal
and interest of such loans by a deed of trust on all or any portion
of the property and franchises of the said company: provided, that
the aggregate amount of stock and convertible loan issued under the
authority of this act shall not exceed the sum of seven hundred and
fifty thousand dollars: and provided further, that no
certificate of loan convertible into stock, or creating any lien on
or mortgage on the property of the company, shall be issued by the
said company unless the expediency of making a loan on such terms
and of issuing such certificates shall have first been determined on
at a general meeting of the stockholders, by two-thirds of the votes
which could be legally given in favor of the same, and that no
certificates of debt issued under this act shall be sold at less
than eighty per cent. of the par value thereof: and provided
further, that the said company shall not build any bridge across
Acquia creek, or any other creek below the head of tide water,
without sufficient drawbridges or openings thereon to admit of the
complete navigation of such creek. |
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3. The common councils of the city of Richmond and the
town of Fredericksburg are hereby authorized to subscribe for an
amount not exceeding one thousand shares each of the said increased
stock, or to take an amount equivalent, at its par value, of such
convertible loan: provided, however, that no such subscription shall
be made by either of the said common councils, until the expediency
thereof shall have been submitted to the vote of those persons
qualified to vote at the election of members of said common
councils, and shall receive the assent of three-fifths of the voters
actually polled, after ten days' public notice of the time and place
of opening polls for the purpose. |
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4. If the said Richmond, Fredericksburg & Potomac rail
road company shall not, within four months from the passage of this
act, bona fide commence the construction of said extension of their
road, or shall fail so far to complete the same, within fifteen
months from such commencement, as to admit through transportation
thereon, or shall neglect, at any time after such commencement, for
two months to prosecute the construction of said extension to
completion, unless prevented by the exigences of the war, then the
provisions of said charter, so far as they exempt the property of
said company from taxation, shall be held and deemed inapplicable to
the stock and property created and acquired under the provisions of
this act. |
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5. In all respects, except as to said exemption from
taxation, the rights and franchises hereby granted shall be subject
to the provisions of chapters fifty-six, fifty-seven and sixty-one
of the Code of Virginia, and to such further modifications as the
general assembly may hereafter determine. |
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6. If the Richmond, Fredericksburg & Potomac rail road
company shall not, within three months from the passage of this act,
accepted the provisions thereof (notice of which acceptance shall be
forthwith communicated to the governor of this commonwealth), and
commence the work within four months from the passage of this act,
or shall neglect the prosecution of said work for two months, as
herein before provided, then, in any of these events, either the
Manassas gap rail road company or the Orange & Alexandria rail road
company shall be at liberty to accept the same within one month
thereafter (notice whereof shall be given in like manner): and upon
such acceptance by either of said companies, the company first so
accepting shall thereupon have authority to construct said rail road
connection, in like manner, and with the same privileges, and under
the same restrictions as are herein prescribed in reference to the
said Richmond, Fredericksburg & Potomac rail road company, except
that such company so accepting said provisions, shall have one month
from the date of such acceptance to commence the construction of
said work. |
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7. And if the said Manassas gap rail road company or the
Orange & Alexandria rail road company shall, as herein before
provided, accept the provisions of this act, and enter upon the
construction of said extension, all the work done in the partial
construction of said extension by the Richmond, Fredericksburg &
Potomac rail road company, shall be deemed to have been done by the
said Orange & Alexandria rail road company or the Manassas gap rail
road company so accepting and entering upon said construction, and
shall be held by it as its own property, upon payment therefor, to
the said Richmond, Fredericksburg & Potomac rail road company, of
such amount of money as the board of public works shall determine to
be the value thereof. |
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8. This act shall be in force from its passage. |
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