CHAP. 682.--An ACT to incorporate the Machapungo bridge company.

Approved March 3, 1898.

1. Be it enacted by the General Assembly of Virginia, the Benjamin T. Eichelberger, L. Thomas LeCato, George W. James, R. Lee James and Thomas B. Quimby, their associates, successors and assigns be, and they are hereby, created and constituted a body politic and corporate by the name of Machapungo bridge company, with perpetual succession and a common seal, and with full and adequate powers to locate, construct, own and maintain a bridge across the headwaters of Machapungo creek, in the county of Accomac, from a point in Bradford's neck
, on the lands of Miss Cordelia LeCato, to a point on the western side of said stream on the lands of Mistress Mary S. Flemming; and to acquire by lease, purchase or condemnation, by due process of law, as much land as may be necessary for the construction and operation of said bridge.

2. The capital stock of said company shall not be less than five hundred dollars and not more than five thousand dollars, and shall be divided in shares of twenty-five dollars each. The above-named incorporators, or any three of them, are hereby created a commission and authorized to receive subscriptions to the stock of said company in such manner as they may deem necessary, and keep the same open until the minimum capital has been subscribed. Thereafter they may call a meeting of the stockholders, who may organize the company. As soon as the said bridge has been completed the said company may demand and receive such reasonable tolls as may be prescribed by its by-laws, not to exceed four cents per barrel on trucks and other packages, whether of produce or merchandise, in proportion; passengers on foot five cents, one-horse teams ten cents, and two horse teams, fifteen cents: provided, that where charge are made on produce or merchandise no extra charge shall be made on the carriage thereof.

3. It shall be lawful for said company to borrow money and issue and sell its bonds from time to time for such sums and on such terms as its board of directors may deem expedient and proper for any of the purposes of said company, and may secure the payment of said bonds by mortgages or deeds of trust upon all or any portion of its property, real or personal and mixed, its contracts and privileges, and its chartered rights and franchises; and it may, as the business of the company shall require, sell, lease, convey and encumber the same.

4. It shall be lawful for said company to subscribe to and hold shares in any transit company or telephone line hereafter chartered to operate over the line of its bridge; and any manufacturing, railroad, or other corporation may subscribe to, guarantee or hold the stocks or bonds of the said company.

5. The taxes accruing from the said corporation shall be paid in lawful money of the United States and not in coupons.

6. This act shall be in force from its passage, but the general assembly of Virginia reserves to itself the right to alter or repeal this act at any time hereafter.

CHAP. 682.--An ACT to incorporate the Machapungo bridge company.
Acts and Joint Resolutions Passed by the General Assembly of Virginia During the Session of 1897-1898
Richmond, Virginia
March 1, 1898
1 page, p. 730