Chap. 83.—An ACT to incorporate the Wythe and Speedwell Mining
and Manufacturing Company.

Approved February 5, 1886.

1. Be it enacted by the general assembly of Virginia, That
N. P. Oglesby, John W. Robinson, William H. Wren, James
S. Crockett and M. B. Tate, or such of them as may accept
the provisions of this act, their associates and successors, be
and they are hereby incorporated and made a body politic and
corporate, under the name and ‘style of the Wythe and Speed-
well Mining and Iron Manufacturing company.

2. The said company may, by or under its corporate title,
make and use a corporate seal, which it may alter or renew at
its pleasure, and may sue and be sued, plead and be im-
pleaded, contract and be contracted with, and make by-laws,
rules and regulations, consistent with existing laws of the state,
for the government of all under its authority, the management
of its estates and properties, and the due and orderly conduct
of its affairs.

3. The capital stock of said company shall not be less than
twenty thousand dollars, and may be increased to any amount
not exceeding two hundred thousand dollars, by issue and sale
of shares thereof, not less than one hundred dollars each, from
time to time, under such regulations as the board of directors
of said company shall, from time to time, prescribe; and the
directors may receive real or personal property in payment for
subscriptions to the capital stock, at such valuations as may be
agreed upon between the directors and the subscriber.

4. The said company is authorized and empowered to pur-
chase, own, hold, lease, and control in any manner, sue, grant
and convey real and personal estate: provided, that such com-
pany shall not hold less than eight thousand acres, nor more
than twenty-five thousand acres of land at any one time; to
mine and dig for iron ores, coal, marble, stone, slate and other
minerals and metals, and to manufacture iron, steel, coke, fire-
brick, glass and any articles composed_,either wholly or in part
of wood, iron, steel, stone, slate or any metal or mineral, and
may market and sell any of its products. It may erect furnaces,
rolling-mills, forges, mills; fixtures and appurtenances, and any
machinery necessary for the operation of its business, and
operate the same. It may lay pipes, cut canals, and erect
water-works, build and operate roads, tramways and railroads,
and may connect any of its lands, works or property with its
other lands, works or property by tramways and railways, and
may connect them with any railroad: provided, it shall be
authorized to construct a railroad only for the purpose of de-
veloping its property: and provided further, that it shall not
be authorized to construct any railroad or water line,the whole
length of which shall exceed ten miles; and it shall not be
authorized to construct any railroad which shall extend be-
yond the limits of Wythe county. In constructing and ope-
rating its tramways and railroads, it shall be entitled to the
benefit, and subject to all the penalties, of the general laws of
this state in regard to railroad and internal improvement com-
panies: provided that it shall be the duty of this company to
transport the products of, and passengers to and from, the
farms through which said railroad shall pass, at stations not
more than five miles from each other, and it may lay out man-
ufacturing sites, streets and alleys, grade streets, erect houses
and gas works, and sell or use the same. It shall have its
principal office at Graham’s Forge, in Wythe county, Virginia.

5. It shall be lawful for any railroad company, and incorpo-
rated company, to subscribe to the capital stock of said com-
pany; and they may acquire its bonds, full power being hereby
given such companies for that purpose; and it shall be lawful
for any stockholder of said company to hold the stock of said
company, in any sum not prohibited by the by-laws of said
company, and to cast one vote for each share of stock owned
by him.

6. It may issue jts bonds, and sell the same upon such terms
as the board of directors may prescribe, and may secure said
bonds by deed of trust or mortgage upon its franchises and
property, or any part of its property.

7. No stockholder shall be held lable or made responsible
for the debts or liabilities of said company in a sum beyond
any balance due from said stockholder to said company, on
stock subscribed by said stockholder.

8. The directors of said company shall be stockholders, and
they shall elect one of their number president. Their number
shall be not less than five, and they shall be elected by the
stockholders in their annual meetings. They shall serve until
their successors are elected and qualified, and they may fill
any vacancy in their board. For the purpose of organizing
said company the five persons named in this act shall constt-
tute its first board of directors, any three of whom may act.
They may receive subscriptions to the capital stock at any
time and place without advertising, and when the sum of
twenty thousand dollars or more is subscribed, they shall con-
vene the stockholders and organize said company, and certify
such organization on the books of the company, and such cer-
tificate, or a copy thereof, when ‘attested by a notary public,
shall be received as evidence of the legal organization of such
company. But such organization shall be had within one year
after the passage of this act.
9. This act shall be subject to repeal, amendment or modifi-
cation at any time by the general assembly, and all taxes, dues
or demands, due or to become due by this company to the
state of Virginia, shall be paid in the lawful currency of the
United States, and not in coupons.

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