Chap. 101.—An ACT to incorporate the Morotock Manufacturing
Company.

Approved February 8, 1886.

Whereas the water-power of Dan river, at Danville, Vir-
ginia, is at present only partially utilized and developed; and
whereas C. G. Holland and F. X. Burton, the owners of valu-
able real and personal property, snd a considerable portion of
said water-power at Danville aforesaid, together with the water-
rights and water-privileges thereto attached, have already in-
vested large sums in erecting, equipping and operating a cot-
ton factory upon said water-power, and are desirous of further
developing said water-power, and of advancing the manufac-
turing and industrial iuterests of the town of Danville afore-
said, by the association of others with themselves under cor-
porate privileges—

1. Be it therefore enacted by the general assembly of Vir-
ginia, That C. G. Holland, F. X. Burton, and such other per-
sons as may be associated with them, be and they are hereby
incorporated and made a body politic and corporate, under
the name and style of the Morotock Manufacturing Company,
and by that name they may sue and be sued, and do all other
acts belonging and appertaining to corporations under the laws
of this commonwealth.

2. The chief business of said company shall be the manu-
facture of cotton cloths, cotton yarns, and cotton and woolen
fabrics of all kinds and descriptions, and said company may at
any time add thereto a general milling business, and the manu-
facture of ice, iron, paper, and such other articles of commerce
as may be allowed under the laws of this state.

3. The principal office of said company shall be at Danville,
in the state of Virginia.

4. The capital stock of said company shall not be less than
one hundred thousand dollars, nor more than one million dol-
lars, and shall be divided into shares of one hundred dollars
each: and said company may purchase and hold all real and
personal estate which may be necessary for the transaction of
its business.

5. Said company may issue common, preferred and guaran-
teed stock, and may borrow money on note, bond or mort-
gage, in such amount as may be deemed expedient to secure
the construction of its factory buildings, the proper develop-
ment’and equipment of its property, and the successful opera-
tion of its business.

6. Said company may receive in subscription to its capital
stock moneys, lands, real and personal estate, water-power
and water-rights attached thereto, factory buildings, factory
fixtures, and milling and manufacturing apparatus and ma-
chinery, at a valuation to .be agreed upon between said com-
pany and the subscribers to the capital stock thereof. And
said company shall be authorized and empowered to use, de-
velop, and utilize its property, water-powers and water- rights
in such manner and to such extent as may be most conducive
to its successful operation and best interests: provided, that no
dam or other structure shall be erected or constructed by said
company across Dan river which shall in any way obstruct the
free passage of fish up and down said river.

7. Any number of shares and any proportion of the capital
stock of said company may be held by any one or more of the
shareholders therein. ,

8. Said company shall be authorized to sell and convey to
other persons or corporations its property, franchises and
privileges, or any part thereof.

9. All taxes, debts and demands due the commonwealth
from said company shall be paid by said company in currency,
and not in coupons.

10. This act shall be in force from its passage.