Chap. 255.—An ACT incorporeting the Warwick Manufacturing Company
In the City of Rictimond,

Passed January 24, 18465.

1. Be it enacted by the ¢eneral assembly of Virginia, That
Abraham Warwick, Robert J. Barksdale. Randolph Barks-
dale, George A. Barksdale, James Lyons, James Galt. Folin
Freeland, Willian). Caibson, Prank lin Stenens, William Cur-
ric, Isene Davenport, junior, John AL Warwick, Peter C.
Warwick, William Watts, and thotr associates, are hereby
incorporated and yi ade a body pole and corporate, hy the
name and sivle of The Warwick Aiantheturing Company.

2. The capital of the said company shall be one million of
dollars. currency, if so much be neeessary, divided into shares
of fifty dollars each.

3. Phe parties above named shall be commissioned to re-
celve subscriptions to the said stoek, but any three of theim
may act; and as soon as the sain of one hundred thousand
dollars shall be subscribed in the manner provided in the
first section of chapter filty-seven of the Code of Virginia,
the said company shall proc eed to oryanize itself by the ap
pointment of a president, vice: ‘president and five other dirce:
tors of the said company, any three of whom shall constitute
a quorum for business.
=

+. If the company shall be organized betore the whole of
its capital stock is subscribed, the president and directors
may, from time to time, scll additional stock, as they may
find it necessary or expedient to do so, until the whole capi-
tal is obtained, unless the stockholders in general meeting
shall otherwise direct, and direct books of subseription to be
avain opened.

The said company may, from time to time, declare divi-
dends of its net profits, but it shall not divide any portion of
Its capital until all its debts have been paid and its business
closed; and every direetor and stockholder who shall wilfully
Violate this section, shall be hable, out of his own estate, for
ail the debts then due by the company, if it shall be unable

»to pay them: and such debts may be recovered of them

“jointly, by motion. upon ten days notice, in the circuit court

rof the city of Richmond; and upon the trial of such motion,
the tact that a dividend of the ‘apital has been made, shall
be taken as prima facie evidence that it was done wilfully ;
and the fact that the company has refused to pay any debt
due at the time of such dividend, shall be taken as prima
facie evidence of its mability to pay.

G. The business of the company shall be the manufacture
of cotton, woollen, silk and other fabrics, and such other
things or articles as the stockholders may in general meeting
determine; which it may sell by wholesale or retail.

7. The said company may purchase and hold as much real
estate, not exceeding one thousand acres, and other property,
as it may deem necessary for its business: and it may pay for
the same in its stock at its par value, if the purchaser is
Willing to accept the same, or im money.

8. In all respects not herein provided for, the said com-
pany shall have all the rights, powers and priv ilocos conferred
by chapters fifty-six and fitty-seven of the Code of Vi Irginia,
and be subject to all the limitations imposed by those chap-
ters, exeept so far as they may be in conflict with this act.

t 9. This act shall be in force trom its passage, and shall be

subject to amendment, alteration or modification, at the
pleasure of the general assembly.

Chap. 255.—An ACT incorporeting the Warwick Manufacturing Company
In the City of Rictimond,

Passed January 24, 18465.

1. Be it enacted by the ¢eneral assembly of Virginia, That
Abraham Warwick, Robert J. Barksdale. Randolph Barks-
dale, George A. Barksdale, James Lyons, James Galt. Folin
Freeland, Willian). Caibson, Prank lin Stenens, William Cur-
ric, Isene Davenport, junior, John AL Warwick, Peter C.
Warwick, William Watts, and thotr associates, are hereby
incorporated and yi ade a body pole and corporate, hy the
name and sivle of The Warwick Aiantheturing Company.

2. The capital of the said company shall be one million of
dollars. currency, if so much be neeessary, divided into shares
of fifty dollars each.

3. Phe parties above named shall be commissioned to re-
celve subscriptions to the said stoek, but any three of theim
may act; and as soon as the sain of one hundred thousand
dollars shall be subscribed in the manner provided in the
first section of chapter filty-seven of the Code of Virginia,
the said company shall proc eed to oryanize itself by the ap
pointment of a president, vice: ‘president and five other dirce:
tors of the said company, any three of whom shall constitute
a quorum for business.
=

+. If the company shall be organized betore the whole of
its capital stock is subscribed, the president and directors
may, from time to time, scll additional stock, as they may
find it necessary or expedient to do so, until the whole capi-
tal is obtained, unless the stockholders in general meeting
shall otherwise direct, and direct books of subseription to be
avain opened.

The said company may, from time to time, declare divi-
dends of its net profits, but it shall not divide any portion of
Its capital until all its debts have been paid and its business
closed; and every direetor and stockholder who shall wilfully
Violate this section, shall be hable, out of his own estate, for
ail the debts then due by the company, if it shall be unable

»to pay them: and such debts may be recovered of them

“jointly, by motion. upon ten days notice, in the circuit court

rof the city of Richmond; and upon the trial of such motion,
the tact that a dividend of the ‘apital has been made, shall
be taken as prima facie evidence that it was done wilfully ;
and the fact that the company has refused to pay any debt
due at the time of such dividend, shall be taken as prima
facie evidence of its mability to pay.

G. The business of the company shall be the manufacture
of cotton, woollen, silk and other fabrics, and such other
things or articles as the stockholders may in general meeting
determine; which it may sell by wholesale or retail.

7. The said company may purchase and hold as much real
estate, not exceeding one thousand acres, and other property,
as it may deem necessary for its business: and it may pay for
the same in its stock at its par value, if the purchaser is
Willing to accept the same, or im money.

8. In all respects not herein provided for, the said com-
pany shall have all the rights, powers and priv ilocos conferred
by chapters fifty-six and fitty-seven of the Code of Vi Irginia,
and be subject to all the limitations imposed by those chap-
ters, exeept so far as they may be in conflict with this act.

t 9. This act shall be in force trom its passage, and shall be

subject to amendment, alteration or modification, at the
pleasure of the general assembly.