Richmond and Danville Railroad to lease the railroad line between Richmond, Virginia and West Point, Virginia. Under this authority, the Richmond, York River and Chesapeake Railroad was leased to the Richmond and Danville Railroad on July 9, 1881, for a term of 999 years for payment of the principal and interest on the two issues of mortgage bonds and 6 per cent interest on the stock of the Richmond, York River and Chesapeake. The lease also conveyed to the Richmond and Danville 1,251 shares of the capital stock of the Baltimore, Chesapeake and Richmond Steamboat Company which the Richmond, York River and Chesapeake had acquired in 1874. Under the Clyde interests, the Richmond and Danville Railroad Company had incorporated the Richmond and West Point Terminal Railway and Warehouse Company on March 8, 1880, to acquire lines to which the Richmond and Danville did not connect or lines in other States. Although the Richmond Terminal Company, as it was often referred to, was organized as a holding company for the acquisition of other lines by the Richmond and Danville Railroad, the holding company came to control the Richmond and Danville and several other companies which were leased to the Richmond and Danville. Bankruptcy; reorganization; Southern Railway Company By 1891, the Richmond Terminal Company was insolvent and in December 1891 a committee was appointed to prepare a plan of reorganization. Two plans were presented and rejected by the securities holders in May 1892. The Richmond and Danville and other railroads controlled by the Richmond Terminal Company went into bankruptcy along with the Richmond Terminal Company in June 1892. Temporary receivers were appointed for the Richmond and Danville on June 16, 1892, and a receiver was appointed for the Richmond Terminal Company on June 22, 1892. The securities holders then asked Drexel, Morgan and Company, soon to be J.P. Morgan & Co., to prepare a plan of reorganization for the Richmond Terminal Company and the companies in which that company had an interest. The Richmond Terminal Reorganization Committee, Charles H. Coster, George Sherman and Anthony J. Thomas, presented an agreement dated May 1, 1893, modified February 20, 1894, in which the old securities would be deposited with the committee, who would form a new corporation to issue new securities and establish a cash fund for the repair and renewal of the properties. Under an act of the Virginia General Assembly of February 20,