Chap. 402.—An ACT to incorporate the Salisbury coal mining and
manufacturing Company.

Approved May 23, 1887.

1. Beit enacted by the general assembly of Virginia, That
Joseph W. Johnston, George A. Ainslio, M. Rosenbaum,
Charles P. Stokes, T. William Pemberton, or such of them as
may accept the provisions of this act, their associates or suc-
cessors, are hereby constituted a body politic and corporate,
by the name of the Salisbury coal and mining and manufac-
turing company, and as such may have all the privileges,
franchises, and immunities applicable to such corporation
under the laws of Virginia.
2. The capital stock of said company shall not be less than
one hundred thousand dollars, or more than three million
dollars, divided into shares of one hundred dollars each, and
each share of stock shall be entitled to one vote; and for tho
purpose of obtaining subscription to the capital stock, any
three persons named in the first section, may open books of
subscription at any time and place, of which they shall give
ten days’ notice in a newspaper published in the city of Rich-
mond, Virginia.

3. Said company shall have power to purchase, hold, lease,
and scll real estate and personal property; to mine, manufac-
ture, and transport or distribute coal, coke, or gas, or other
mincrals and metals and their products; to give and receive;
to secure loans by mortgages or deed of trust; to build dams,
mills, and furnaces; to bore for natural gas; to run pipe lines,
tram roads, and railroads connecting its mines or works, and
from any of its lands to any work of internal improvement
or navigable stream, and operate the same; and for this pur-
pose shall have all the privileges and powers, and be subject
to all the conditions prescribed by the laws of Virginia: pro-
vided that no such road shall be more than twenty miles in
length.

4. The capital stock of said company shall be private prop-
erty, and transferable on the books of the company; and
lands or materials or securities, as well as money, may be re-
ceived on stock subscription.

5. No stockholder in said company shall ever be held lia-
ble, or made responsible for its debts and liabilities in a larger
or further sum than the amonnt of any unpaid balance due
to the said company for stock subscribed by said stockholder.

6. The said company may hold lands not exceeding twenty
thousand acres in any one county, and its principal opera-
tions shall be located in the county of Chesterfield, State of
Virginia. Its principal office shall be located in the city of
Richmond, Virginia. * |

7. That the president and directors of said company may
enact such by-laws and regulations for the management of
affairs of said company as they may deem expedient. In all
meetings of the stockholders a majority shall rule.

8. This charter is granted on condition that said corpora-
tion shall pay all taxes and ducs to the commonwealth in
currency and not in coupons.

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