PETERSBURG RAILROAD COMPANY.

HISTORY.

The Petersburg Railroad Company was organized 1830, under laws of Virginia and North Carolina. Original charter granted by Act of the General Assembly of the State of Virginia, passed February 10, 1830, and by the General Assembly of the State of North Carolina at its session of 1830. Amendatory Acts were passed by the Legislature of Virginia as follows: 1830, 1831, 1832, 1833, 1834, 1836, 1840 and 1843.

The charter expired by limitation in 1891. A renewal of the same was granted by the Legislature for two years, by Act ratified the 9th day of March, 1891. The Legislature refused to renew for a longer period than two years, because the Wilmington and Weldon Railroad Company claims exemption from taxation, not only for its main line, but for its branch roads as well, and had, in the mean time, become the owner by lease of the Petersburg Road. This right of exemption from taxation was not acquiesced in by the Legislature, and suits are now pending to subject the branch roads to taxation. In the meantime the Legislature, for these reasons, thought it wise to renew the charter for only a short period.