Chap. 13.—An ACT to incorporate the Virginia Gold Belt Company.

Approved April 5, 1882,

1. Be it enacted by the general assembly of Virgina, That
John T. Goolrick, George E. Chancellor, E. S. Ruggles,
Josiah Hazard, W.S. White, and E. D. Cole, of Fredericks-
burg, Virginia, their successors and assignees, and such
others as may be associated with them, shall be and they are
hereby created a body politic and corporate by the name of
The Virginia Gold Belt Company, and by that name shall
have perpetual succession, may sue and be sued; may have,
make, and use a common seal, and the same alter or change
at pleasure, may make, ordain, alter, or change such by-
laws, ordinances, or regulations concerning and yoverning
all points of organization and business not herein specially
provided for as may be thought wise; and generally may do
every act and thing necessary to carry into effect this act or
to promote the objects and designs of the corporation: pro-
vided that such ordinances, by-laws, regulations, or acts be
not in conflict with the laws of this state or the United
States.
2. The said corporation and company shall have the fran-
chise, power, and authority to purchase, hold, sell, exchange,
or otherwise dispose of, or encumber the same in such quan-
tities as may be deemed proper, real estate, including farm-
ing, mineral, timbered lands, and any other real estate in the
state of Virginia not exceeding at any time five hundred
thousand dollars in value, and to farm, prospect, mine, im-
prove, or develop the same.

3. The capital stock of said corporation or company shall
be such as the board of directors of said company shall fix
and determine on: provided the same sball not at any one
time be of greater value than five hundred thousand dollars ;
said capital stock shall be in such shares and of such par
value, and payable at such times and in such manner as the
board of directors shall fix and determine.

4. The said company shall have, own, hold, and dispose of
such personal or other property as it may acquire by pur-
chase or otherwise, for the purposes of its corporation or for
any other purposes, which shall not at any time be of greater
value than five hundred thousand dollars.

5. That all of the property, real, personal, or mixed, held,
owned, or acquired by the said company, shall form a com.
mon stock, and be divided into a convenient and equitable
number of sbares, and apportioned by the said company
among the subscribers, incorporators, or shareholders, accord-
ing to their respective interests, for which certificates of
stock shall or may be issued, and be assignable and transfer-
able in such a way and subject to such conditions as the said
company or board of directors may prescribe; and the said
shares of stock shall be deemed and treated as personal
estate.

6. The said company shall have the right, franchise, and
power to lay out, construct, build, equip, operate, and main-
tain a railroad or railroads in any county in this state in
which it may own, operate, or develop any timbered, farm-
ing, or mineral lands, with one or more tracks from these
lands, or any portion of the same, for the purpose of con-
necting said lands or portions of the same, or to connect the
same with any railroad or highway or other internal
improvement company now or which hereafter may be con-
structed at any point they may select for such connection or
connections, with full power and authority to enter upon,
take, occupy, and use in survey, construction, and operation
of such road or roads such lands as may be deemed neces-
sary and expedient, paying a full and just compensation
therefor: provided that the said lands be not purchased,
given, or owned for the purpose of building or constructing
a railroad or railroads otherwise than for transporting the
products of such lands: and provided that where such rail-
road or railroads are constructed beyond the line of such
lands owned and operated by said company for the purposes
aforesaid, the consent of the owners of such land or lands
through which the roads will pass shall first be obtained :
and provided further, that the length of ary or each of such
rallroads so made and built by the said company shall not
exceed the distance between the lands of said company
owned for said purposes, from which they start, and the
railroad, highway, or other internal improvement company
with which such connection is sought to be made: and pro-
vided further, that before the said railroad or railroads to be
built by the said company shall make or form any connec-
tion with any other railroad, highway, or other internal
improvement company, the consent of such railroads, or the
officers and authorities of such railroads, highways, or other
internal improvement companies shall be first obtained
before any steps are taken to form such connection: provided
further, that no road built by said company shall exceed
twenty miles in length.

7. That the said company may borrow money or create
indebtedness for the purposes of its business or such other
purposes as said company or its board of directors may pre-
scribe, and may issue and negotiate stock, bonds, orders, and
other evidences of indebtedness as may be deemed proper,
and may issue the same in the purchase, payment, exchange,
or mortgage of any property, real, personal, or mixed, mate-
nial, labor, or services, and in such form or manner and pay-
able in such place or places as may be deemed proper; and
to secure the same in such form and manner as may be
deemed proper, the company may issue bonds and secure
the same by mortgages or otherwise on its mines or lands,
railroads, or other property, real, personal, or mixed, and on
the franchises at the time owned or controlled, held or there-
after acquired, or to be acquired, or any part thereof, and
shall have the right to dispose of its bonds or evidences of
indebtedness at less than par value, and such transactions
shall not be usurious.

8. The liability and responsibility of the stock or share-
holders of said company shall be only to the extent of the
stock held and paid for by them, and for no more and to no
greater extent.

9. The principal office of the said company shall be at
Fredericksburg, Virginia, but the board of directors shall
have the power to establish other offices at such place or
places as it may determine. ,

10. Each member, share, or stockholder of said company
shall have one vote and no more.

11. The officers and directors of the said company for the
twelve months ending March first, eighteen hundred and
eighty-three, and thereafter, until their successors shall be
duly elected and qualified, shall be—for president, John T.
Goolrick ; vice-president, E. S. Ruggles; secretary, Josiah
Hazard ; treasurer, E. D. Cole; board of directors, John T.
Goolrick, E. 8. Ruggles, Josiah Hazard, George E. Chan-
cellor, E. D. Cole, W. 8S. White.

12. This act shall be in force from its passage; but the
legislature reserves to itself the power to alter, amend, or
repeal this charter at any time it may deem proper.
Chap. 13.—An ACT to incorporate the Virginia Gold Belt Company.

Approved April 5, 1882,

1. Be it enacted by the general assembly of Virgina, That
John T. Goolrick, George E. Chancellor, E. S. Ruggles,
Josiah Hazard, W.S. White, and E. D. Cole, of Fredericks-
burg, Virginia, their successors and assignees, and such
others as may be associated with them, shall be and they are
hereby created a body politic and corporate by the name of
The Virginia Gold Belt Company, and by that name shall
have perpetual succession, may sue and be sued; may have,
make, and use a common seal, and the same alter or change
at pleasure, may make, ordain, alter, or change such by-
laws, ordinances, or regulations concerning and yoverning
all points of organization and business not herein specially
provided for as may be thought wise; and generally may do
every act and thing necessary to carry into effect this act or
to promote the objects and designs of the corporation: pro-
vided that such ordinances, by-laws, regulations, or acts be
not in conflict with the laws of this state or the United
States.
2. The said corporation and company shall have the fran-
chise, power, and authority to purchase, hold, sell, exchange,
or otherwise dispose of, or encumber the same in such quan-
tities as may be deemed proper, real estate, including farm-
ing, mineral, timbered lands, and any other real estate in the
state of Virginia not exceeding at any time five hundred
thousand dollars in value, and to farm, prospect, mine, im-
prove, or develop the same.

3. The capital stock of said corporation or company shall
be such as the board of directors of said company shall fix
and determine on: provided the same sball not at any one
time be of greater value than five hundred thousand dollars ;
said capital stock shall be in such shares and of such par
value, and payable at such times and in such manner as the
board of directors shall fix and determine.

4. The said company shall have, own, hold, and dispose of
such personal or other property as it may acquire by pur-
chase or otherwise, for the purposes of its corporation or for
any other purposes, which shall not at any time be of greater
value than five hundred thousand dollars.

5. That all of the property, real, personal, or mixed, held,
owned, or acquired by the said company, shall form a com.
mon stock, and be divided into a convenient and equitable
number of sbares, and apportioned by the said company
among the subscribers, incorporators, or shareholders, accord-
ing to their respective interests, for which certificates of
stock shall or may be issued, and be assignable and transfer-
able in such a way and subject to such conditions as the said
company or board of directors may prescribe; and the said
shares of stock shall be deemed and treated as personal
estate.

6. The said company shall have the right, franchise, and
power to lay out, construct, build, equip, operate, and main-
tain a railroad or railroads in any county in this state in
which it may own, operate, or develop any timbered, farm-
ing, or mineral lands, with one or more tracks from these
lands, or any portion of the same, for the purpose of con-
necting said lands or portions of the same, or to connect the
same with any railroad or highway or other internal
improvement company now or which hereafter may be con-
structed at any point they may select for such connection or
connections, with full power and authority to enter upon,
take, occupy, and use in survey, construction, and operation
of such road or roads such lands as may be deemed neces-
sary and expedient, paying a full and just compensation
therefor: provided that the said lands be not purchased,
given, or owned for the purpose of building or constructing
a railroad or railroads otherwise than for transporting the
products of such lands: and provided that where such rail-
road or railroads are constructed beyond the line of such
lands owned and operated by said company for the purposes
aforesaid, the consent of the owners of such land or lands
through which the roads will pass shall first be obtained :
and provided further, that the length of ary or each of such
rallroads so made and built by the said company shall not
exceed the distance between the lands of said company
owned for said purposes, from which they start, and the
railroad, highway, or other internal improvement company
with which such connection is sought to be made: and pro-
vided further, that before the said railroad or railroads to be
built by the said company shall make or form any connec-
tion with any other railroad, highway, or other internal
improvement company, the consent of such railroads, or the
officers and authorities of such railroads, highways, or other
internal improvement companies shall be first obtained
before any steps are taken to form such connection: provided
further, that no road built by said company shall exceed
twenty miles in length.

7. That the said company may borrow money or create
indebtedness for the purposes of its business or such other
purposes as said company or its board of directors may pre-
scribe, and may issue and negotiate stock, bonds, orders, and
other evidences of indebtedness as may be deemed proper,
and may issue the same in the purchase, payment, exchange,
or mortgage of any property, real, personal, or mixed, mate-
nial, labor, or services, and in such form or manner and pay-
able in such place or places as may be deemed proper; and
to secure the same in such form and manner as may be
deemed proper, the company may issue bonds and secure
the same by mortgages or otherwise on its mines or lands,
railroads, or other property, real, personal, or mixed, and on
the franchises at the time owned or controlled, held or there-
after acquired, or to be acquired, or any part thereof, and
shall have the right to dispose of its bonds or evidences of
indebtedness at less than par value, and such transactions
shall not be usurious.

8. The liability and responsibility of the stock or share-
holders of said company shall be only to the extent of the
stock held and paid for by them, and for no more and to no
greater extent.

9. The principal office of the said company shall be at
Fredericksburg, Virginia, but the board of directors shall
have the power to establish other offices at such place or
places as it may determine. ,

10. Each member, share, or stockholder of said company
shall have one vote and no more.

11. The officers and directors of the said company for the
twelve months ending March first, eighteen hundred and
eighty-three, and thereafter, until their successors shall be
duly elected and qualified, shall be—for president, John T.
Goolrick ; vice-president, E. S. Ruggles; secretary, Josiah
Hazard ; treasurer, E. D. Cole; board of directors, John T.
Goolrick, E. 8. Ruggles, Josiah Hazard, George E. Chan-
cellor, E. D. Cole, W. 8S. White.

12. This act shall be in force from its passage; but the
legislature reserves to itself the power to alter, amend, or
repeal this charter at any time it may deem proper.