Chap. 169.—An ACT to incorporate the Virginia Publishing company.

Approved February 23, 1888.

1. Be it enacted by the general assembly, That Thomas
Potts, T. William Pemberton, F. R. Scott, B. B. Munford, L.
C. Younger, A. W. C. Nowlin, A. 8. Buford, and such persons
as may be associated with them and their successors, are
hereby created a body politic and corporate by the name and
style of the Virginia publishing company, and by such name
shall have perpetual succession, may contract and be con-
tracted with, sue and be sued, make and use a common seal,
and alter the same at pleasure, and make and maintain such

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by-laws, rules and regulations for the government of said cor-
poration and the conduct of its business as may be deemed
necessary, not in conflict with the laws of this state or of the
United States.

2. The capital stock of said company shall not be less than
thirty thousand dollars, to be divided into shares of one
hundred dollars each, and the same may, from time to
time, be increased by additional subscriptions or the issue
and sale of shares to an amount not exceeding one hundred
thousand dollars. The said company may receive subscrip-
tions to its capital stock, or payment for its shares so om
scribed or issued, in money or property upon such terms as
shall be agreed or authorized by the board of directors.

3. The corporators herein above named, or any three of
them, may receive subscriptions to the capital stock of said
company, and when the minimum capital of thirty thousand
dollars shall have been subscribed, the said subscribers may
organize said company by the election of five directors, of
whom they shall elect one as president, to remain in office
one year, and until their successors are elected, unless sooner
removed by the stockholders. After organization as afore-
said, the stockholders, at any general meeting, may change
the number of directors, and may provide for the proper gov-
ernment of the corporation by such by-laws as they may
deem fit and proper as hereinbefore authorized. The board
of directors may appoint such subordinate agents and officers
of the company as they may deem necessary and proper for
the proper dispatch of the business of the company.

4. The said company is hereby authorized to carry on the
business of printing and publishing in the state of Virginia,
newspapers, books, pamphlets, and all other printed material
usual in a printing establishment. It may sell its bonds, from
time to time, for such sums and on such terms as its board of
directors may deem proper in the prosecution of its business,
and may secure the payment of the principal and interest
thereof by mortgage or deed of trust upon all or any portion
of its property, rights and franchises, including its franchise
to be a corporation. Hach stockholder in said company shall
be entitled to one vote for each share of stock held by him,
and no stockholder shall be held individually liable for the
debts or liabilities of the company in any larger or further
sum than such amount as may be dué and unpaid severally
upon his stock subscription. There shall be no limit except
as the by-laws of the company may prescribe, upon the num-
ber of shares of stock which any stockholder may hold, and
four-fifths of the capital stock of the company may become
the property of less than five persons, and a majority of the
stock may for more than six months be the property of one
person.

5. The acceptance of this charter and organization there-
under shall be deemed a waiver by said company of any right
to pay taxes or dues, or assessments hereafter made from said
company to the mae of ‘eamepinitn, in coupons of this state,

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and shall be taken as an agreement on the part of said com-
pany to pay all of said dues, taxes and assessments in lawful
money of the United States.

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