Chap. 50.—An ACT to incorporate the Chester Lumber and Manufac-

turing company.
Approved January 30, 1888.

1. Be it enacted by the general assembly of Virginia, That
James R. Werth, G. M. Wilson, R. A. Dunlop, 8. P. String-
fellow, and M. F. Maury, their associates, assigns, and suc-
cessors, are hereby constituted a body politic and corporate
by the name of the Chester Lumber and Manufacturing
company, and shall have all the rights, powers, and franchises
necessary for the purpose of working, buying, and selling

articles made from wood or other material.
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2. Any four of the corporators hereinbefore named, may
organize the said company by electing a president and board
of directors, who may elect and appoint such other officers
and make such by-laws as may be necessary for the proper
management of the said company affairs; and thereupon the
said compary shall have and exercise all the general powers
and functions conferred upon chartered companies by chapter
fifty-seven of the Code of Virginia of eighteen hundred and
seventy-three, and amendments thereto shall be subject to all
its provisions, except as far the same are modified by or are
inconsistent with this act.

3. The capital stock of the said company shall not exceed
five hundred thousand dollars nor be less than twenty thou-
sand dollars, to be divided into shares of the par value of one
hundred dollars each. Each share of the stock shall be enti-
tled to one vote.

4, The said company shall have authority to hold five
thousand acres of land in any county within the common-
wealth: provided the total amount of land so held does not
exceed twenty thousand acres.

5. The principal office of the company shall be in the city
of Richmond. .

6. The directors of said company may open books for sub-
scription to the capital stock of said company from time to
time as they may deem expedient, and may receive in pay-
ment for any subscription of stock of said company, any prop-

erty adopted to the uses of the company or which or its pro-
ceeds may be useful ix carrying out the objects of the said
company.

7. The directors shall have power to issue bonds in sums
of one hundred dollars and multiples thereof, and may secure
the same by mortgages or deeds of trust.

8. All taxes, dues, or demands due the state or to become
due by this company to the state of Virginia, shall be paid in
lawful currency of the United States and not in coupons.

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