(Senate Bill No. 6.) CHAPTER 110. ACT authorizing the union of the Chesapeake and Ohio Railway Company and the Glen Jean, Lower Loup and Deepwater Railroad Company, by purchase, consolidation or merger. [Passed February 7, 1901. In effect 90 days from passage. Approved Be it enacted by the Legislature of West Virginia: 1. Ohio Jean, Lower Deepwater chase or mer That it shall be lawful for the Chesapeake and Authorizing Railway Company and the Glen Jean, Lower the C. & O. Loup and Deepwater Railroad Company to unite with and Glen each other upon such terms for the purchase of the Loup & franchises, rights, privileges and property of the latter R. R. Co. to company by the former company, or for the consolida- unite by purtion of the said latter company with the said former ger. company, or the merger of said latter company into when and the former company, by deed, contract, resolution of how. stockholders, or otherwise, as may be approved by a majority in interest of the stockholders of said panies, com respectively, at any general, special or adjourned meeting, and in the event of such purchase, union, consolidation or merger the said Chesapeake and Ohio-what rights railway company shall be entitled to and shall have the C. & O to and Possess all the rights, privileges and property of the said Glen Jean, Lower Loup and Deepwater railroad company. 2. tion possess, etc. Surviving lawful debts, to what In the event of such purchase, union, consolidaOr merger, the said Chesapeake and Ohio railway company to company shall assume all of the lawful debts and ob- assume all ligations of said Glen Jean, Lower Loup and Deep- etc.; subject railroad company, and it shall be lawful for the rights. holders of such debts and obligations to enforce the directly against the said Chesapeake and Ohio water same railway company, subject, however, to the right of the make the road the said Chesapeake and to Ohio railway company merger not taken place. 3. and agreement or It shall be the duty of the said The Chesapeake Copy of Ohio railway company to file in the office of the resolution filed, where Secretary of tate, a copy of the terms of such pur- and when. What stock chase, union, consolidation or merger, or a certified copy of the resolutions of the stockholders of each company, respectively, within sixty days after the date thereof. 4. Pending such purchase, union, consolidation or merger, the Chesapeake and Ohio railway company C. & O. may is expressly authorized to hold the stock of the Glen Jean, Lower Loup and Deepwater railroad company, with all the rights of any stockholder. hold pending purchase. C. &. O. Rail Guyandot way Co., au chase, mer ger, etc. (Senate Bill No. 9.) CHAPTER 111. AN ACT authorizing the union of the Chesapeake and merger. or [Passed February 7, 1901. In effect 90 days from passage. Approved February 18, 1901.] Be it enacted by the Legislature of West Virginia: 1. That it shall be lawful for the Chesapeake and way Co., and Ohio railway company and the Guyandot Valley railValley Rail way company to unite with each other upon such terms thorized to for the purchase of the franchises, rights, privileges unite by pur- and property of the latter company by the former company, or for the consolidation of the said latter company with the said former company, or the merger of the said latter company into the former company, by when and deed, contract, resolution of stockholders, or otherwise, as may be approved by a majority in interest of the stockholders of said companies, respectively, at any general, special or adjourned meeting, and in the event of such purchase, union, consolidation or merger, the said Chesapeake and Ohio railway company shall be entitled to and shall have and possess all the pany to pos- rights, privileges, franchises and property of the said Guyandot Valley railway company. how. -what rights, etc., the C. & O. railway com sess. Surviving assume all 2. In the event of such purchase, union, consolidacompany to tion or merger, the said Chesapeake and Ohio railway sul debts, company shall assume all of the lawful debts and oblietc. subject gations of the said Guyandot Valley railway company, and it shall be lawful for the holders of such debts and to what rights. obligations to enforce the same directly against the said Chesapeake and Ohio railway company, subject, however, to the right of the said Chesapeake and Ohio railway company to make any and all defences in law or in equity which the said Guyandot Valley railway company would have had the right to make to the same, had such purchase, union, consolidation or merger not taken place. resolution to It shall be the duty of the said The Chesapeake Copy of and Ohio railway company to file in the office of the agreement or secretary of state a copy of the terms of such purchase, be filed, union, consolidation or merger, or a certified copy of when. the resolution of the stockholders of each company, respectively, within sixty days from the date thereof. or where and Pending pur C. & O. to 4. Pending such purchase, union, consolidation merger the Chesapeake and Ohio railway company is chase, etc., expressly authorized to hold the stock of the Guyan- hold what. dot Valley railway company, with all the rights of any stockholder. (Senate Bill No. 7.) CHAPTER 112. AN ACT authorizing the union of the Chesapeake and [Passed February 7, 1901. In effect 90 days from passage. Approved Be it enacted by the Legislature of West Virginia: way Co. and Railway Co. purchase; 1. That it shall be lawful for the Chesapeake and Ohio railway company and the Greenbrier railway C. & O. Railcompany to unite with each other upon such terms Greenbrier for the purchase of the franchises, rights, privileges union of, auand property of the latter company by the former com- thorized by pany, or for the consolidation of the said latter com- merger, etc. pany with the said former company, or the merger of said latter company into the former company, by deed, contract, resolution of stockholders or otherwise, as may be approved by a majority in interest of the stockholders of said companies, respectively, at any general, special or adjourned meeting, and in the event of such purchase, union, consolidation or merger, the -how and when. etc.. the C. what rights said Chesapeake and Ohio railway company shall be &Co. to pos- entitled to and shall have and possess all the rights, privileges, franchises and property of the said Greenbrier railway company. sess, etc. company to lawful debts, to what rights. -Surviving 2. In the event of such purchase, union, consolidaassume all tion or merger, the said Chesapeake and Ohio railway etc.; subject company shall assume all of the lawful debts and obligations of the said Greenbrier railway company, and it shall be lawful for the holders of such debts and obligations of the said Greenbrier railway company, and Chesapeake and Ohio railway company, subject, however, to the right of the said Chesapeake and Ohio railway company to make any and all defences in law or in equity which the said Greenbrier railway company would have had the right to make to the same, had such purchase, union, consolidation or merger not taken place. Copy of agreement to be filed, where and when. 3. It shall be the duty of the said The Chesapeake or resolution and Ohio railway company to file in the office of the secretary of state a copy of the terms of such purchase, union, consolidation or merger or a certified copy of the resolution of the stockholders of each company, respectively, within sixty days from the date thereof. C. & O. may merger, hold pending or What stock 4. Pending such purchase, union, consolidation the Chesapeake and Ohio railway company purchase; is expressly authorized to hold the stock of the Greenbrier railway company, with all the rights of any stockholder. (Senate Bill No. 80.) CHAPTER 113. AN ACT to amend and re-enact section two of chapter fifty of the acts of one thousand eight hundred and eighty-one, entitled "An Act to change the name of the Potomac and Piedmont Coal and Railroad Company, and to confer additional power thereon." [Passed February 1, 1901. In effect 90 days from passage. Approved February 8, 1901.] Be it enacted by the Legislature of West Virginia: relating to That section two of chapter fifty of the acts of one thousand eight hundred and eighty-one entitled "An Act amended act to change the name of the Potomac and Piedmont Potomac & coal and railroad company, and to confer additional Coal & R. R. powers thereon," be amended and re-enacted so read as follows: Piedmont as to Co. Authorized capital stock; 2. That the authorized capital stock of the said company shall be twenty-five millions of dollars, to be divided into shares of one hundred dollars each, and value of shall be considered as personal property, and shall be acter of, etc. transferable in such manner as may be provided for shares; char -new sub by the by-laws of said company, and each share there- -holders enof shall entitle the holder thereof to one vote in all titled to vote the meetings of the stockholders of said company, to and how. be given either in person or by proxy, and payment -payment may be made for the whole or any part of such capital of Capital stock, either in land or other property, or money, and stock. if land or other property, then at such price and valuation as may be agreed upon; the president and directors of said company shall have power at any time scriptions. thereafter, and without opening new books of subscription, to receive further subscription to said capital stock, and to augment the same to such extent as may be authorized and fixed at any general meeting of stockholders of said company, not to exceed twentyfive million dollars. And it may be lawful for all persons and bodies corporate or politic, whatsoever, to become subscribers for and owners of the capital stock of the said company. The capital stock so authorized may be used for the extension and construction of -who may subscribe. -for what purposes such branch and connecting lines of railroad as the stock used. stockholders may determine. |