Chap. 382.—An ACT to incorporate the Virginia underground electri -
cal conduit company.

Approved March 2, 1888.

1. Beit enacted by the general assembly of Virginia, That
Andrew Pizzini, junior, John P. Branch, William 8S. Gunn,
A. L. Wilkinson, George A. Burt, Sol Cutchins, and such
others as may be associated with them, and their successors,
be and they are hereby constituted a body politic and corpo-
rate under the name of the Virginia underground electrical
conduit company, and as such may sue and be sued; may
have, make and use a common seal and the same alter or
change at pleasure; and have, enjoy and exercise all the
rights, powers and privileges pertaining to corporate bodies
under the laws of Virginia necessary for the purposes of this
act; and make al) by-laws, rules and regulations consistent
with the laws of this state for the government of all under
its authority, and the management of its estates and proper-
ties and the due and orderly conduct of its affairs.

2. The said corporation shall have power and authority to
manufacture, construct, maintain and operate, purchase, sell
or lease underground conduits for telegraph and telephone
wires, and electrical conductors of all kinds and descriptions.

3. There shall be a meeting of the said corporators at such
place and time, after the passage of this act, as the above
named parties, or a majority of them, shall appoint, for the
purpose of choosing a board of directors and such officers as
they may deem proper to manage the affairs of said company
for one year thereafter, and until a new election shall take
place and their successors are qualified.

4. The capital stock of said company shall be not less than
ten thousand nor more than two hundred thousand dollars,
to be divided into shares of one hundred dollars each; and
said company shall have power to take in payment of such
stock all such patent rights and grants concerning, and privi-
leges relative to and necessary for the interest and conduct
of the business of said company as its board of directors may
deem to be to the advantage thereof.

} 5. No stockholder in said company shall be liable for its
debts or obligations in any larger sum than the amount of
unpaid balance due for stock subscribed for or held by said
stockholders.

6. All taxes due the commonwealth‘by the company, shall
be paid for in lawful money of the United States, and not in
coupons.

7. This act shall be in torce from its passage.