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
Law Body
Chap. 7.—An ACT to incorporate the Dunlop and McCance Milling
and Manufacturing Company.
Approved January 9, 1888.
1. Be it enacted by the Genoral Assembly of Virginia, That
Isaac Davenport, junior, E. O. Nolting, A. S. Buford, W. H.
Palmer, N. V. Randolph, John B. Purcell, and Thomas W.
McCance, and such other persons as they may associate with
them and their successors, be and they are hereby made and
constituted a body politic and corporate by the name of the
Dunlop and McCance milling and manufacturing company,
and shall have all the powers, rights, and franchises necessary
or proper for the purpose of conducting the business herein-
after described.
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2. Any five of the corporators named, may organize the
company by electing a president and board of directors; and
thereupon the said company shall have and exercise all the
eneral powers, and be subject to the general restrictions pro-
vided by the laws of tho state as to bodies politic and corpo-
rate, except so far as the same are modified by or are incon-
sistent with this act. °
3. The said company shall have authority in the prosecu-
tion of its business, to manufacture and sell flour, meal, and
all other kinds of cereal products for domestic and foreign
marketa, and, incidentally, to buy, sell, receive on storage,
deposit, consignment, or deal in any article, or carry on any
business whica can be conveniently or profitably done in con-
nection with the principal business of the company, or which it
is deemed will give profitable use or employment to the prop-
erties or facilities used by or belonging to the company; to
own or acquire by purchase or otherwise, trade-marks, patent
rights, and privileges of a like nature, in the United States or
any other cointry, for any purposes deemed to be profitable or
necessary in connection with the company’s business; to own,
erect, or acquire by purchase, all necessary or desirable mills,
elevators, zgranaries, warehouses, piers, other buildings and
structures, and all necessary lands with suitable machinery
and appliaaces; and to construct or have constructed tram-:
ways, side-tracks, or switches connecting thejr premises with
any linesof transportation in accordance with the municipal
or other regulations applying to such facilities: provided
however, that they shall not have power to condemn land or
material.
4, The principal office shall be in the city of Richmend.
5. The capital stock of this company shall not exceed five
hundrel thousand dollars nor be less than fifty thousand dol- |
lars, tobe divided into shares of the par value of one hun-
dred ddlars each, and said stock may be all common, or such
part orparts preferred, as the board of directors of said com-
pany my determine in receiving the original subscriptions
to the sock of the company, aus thereafter as may be deter-
mined fom time to time by the company. The preferred |
stock may be issued as first preferred and second preferred
stock, 0 either, in such proportions as may be determined
by the loard or the company. ach share of stock shall be
entitledto one vote, unless otherwise provided at the time its
issue isiuthorized. The said company may dispose of such
stock atsuch price and upon such terms and conditions as
may beagreed upon between the board of directors and the
subscribrs thereto.
6. Th: board of directors of said company may, with or
without iotice, open the books and receive subscriptions to
the stocl from time to time, as they may deem expedient,
antil thestock is fully taken, and all subscriptions to the
stock ofthe company shall be payable at such times and
places, a.d in such manner and amounts as said board of di-
rectors nay prescribe, and said board of directors, with the
consent of the holder or holders thereof, may from time to
time retire any of the capital stock of said company, as may
be deemed best for the interest of said company.
7. It shall be lawful for the said company to receive in full
or part payment of subscriptions to the capital stock of the
said company, as may be agreed on by its board of directors,
money, lands, leases, materials, stocks, bonds, claims, or other
property or interests therein, or other means deemed availa-
le for the purposes or adapted to the uses of said company,
or the proceeds of which by sale or exchahge may be con-
verted to the uses of said company; and such subscriptions
may be received from individuals, other associations or cor-
porations, and any corporation of this state is hereby author-
ized to subscribe to the stock of the company hereby incor-
porated ; or for any service, labor, means, or property of the
character described in this section received by tae company,
the board of directors may pay wholly or partly in the capi-
tal stock of said company, and the said company may sell,
lease, or otherwise dispose of any land or property acquired
under this section.
8. The board of directors shall have power to isue bonds,
either registered or coupon, or convertible the ont with the
other, in sums of one hundred dollars and multipks thereof,
and bearing interest not exceeding six per centun per an-
num, the principal and interest of which shall be payable at
such times and places as the board of directors msy deter-
mine, and may secure the same by one or more morgages or
deeds of trust on the franchises, incomes, and propery of the
company or such part or parts thereof as may be designated
in the mortgages or deeds of trust, and may sell such bonds
at such discount as may be thought best for the berfit of
the company. i
9. This charter shall be in force for ninety-nine yeas from
its passage, and all taxes, dues, and demands due the state,
or that may hereafter become due by this company ito the
state of Virginia, shall be paid in lawful money of theUnited
States, and not in coupons.
10. This act shall be in force from its passage.
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