An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1887/1888 |
---|---|
Law Number | 126 |
Subjects |
Law Body
Chap. 126.—An ACT to incorporate the Petersburg Manufacturing
company.
Approved February 14, 1888.
1. Be it enacted by the general assembly of Virginia, That
George A. Mainine, R. F. Hobbs, J. M. West, G. L. Tarr, W.
8S. Phillips, Augustus Wright, Harrison Waite, G. B. Eanes,
Asa Rogers, and John J. Cocke, with such other persons as may
be hereafter associated with them, be and are hereby consti-
tuted a body corporate, under the name and style of the
Petersburg Manufacturing company; and under that name
shall have perpetual succession and a common seal, which
they may alter or amend at pleasure; shall sue and be sued,
implead and be impleaded, contract and be contracted with,
and have and exercise all the powers and privileges of a cor-
poration granted by the general laws of this commonwealth
not inconsistent with the terms of this act.
2. The capital stock of said company shall not be less than
fifty thousand dollars, which may be increased to one hun-
dred and fifty thousand dollars, in shares of one hundred
dollars each, and the directors of said company may receive
real or personal property in payment for subscriptions to the
capital stock of said company at such valuation as may be
agreed upon.
3. The said company is authorized and empowered to pur-
chase, hold, own, lease and control in any manner, suebh real
estate as may be necessary for the purposes of its business,
not to exceed ten thousand acres in any one county, and to
manufacture any articles or wares in wood or metal or both,
and erect the necessary buildings, machinery, and fixtures,
and shall have the right to build tramways or railroads to
connect their timber lands or works with the nearest railroad
or navigable waters.
4. The above-named corporators or a majority of them,
may act as commissioners to receive subscriptions to the capi-
tal stock of said company, from individuals or from other
corporations or associations, in money, machinery, fixtures,
lands or other valuable considerations, and whenever fifty
thousand dollars shall have been subscribed, and five per
centum thereon paid in, the subscribers may at the call of
said commissioners, meet in person or by proxy in the city of
Petersburg, and organize by electing seven directors. Each
stockholder shall be entitled to cast one vote in every meet-
ing for, eaghesbare of stock held.
5. The board of directors shall select a president and vice- |
president, and appoint a secretary and treasurer, which two
latter may be filled by the same person. The board shall
have authority to manage and control the affairs of the com-
pany, and to adopt such by-laws and regulations as may be
enacted by the stockholders; and the time, place, and manner
of holding meetings of the stcckholders, the declaration of
dividends and the mode of conducting the business, shall be
fixed by the by-laws to be established by the stockholders.
6. The said company is authorized to issue bonds to be!
secured by mortgage or deed of trust on their lands, build-
ings, machinery, fixtures, franchises, rents and income of said
company, and is invested with the powers conferred by the
general laws of this state relating to incorporated companies.
7. This act shall be in force from its passage. _ i