Chap. 260.—An ACT incorporating the Columbian Manufacturing Com-
pany in the City of Richmond.

Passed February 26, 1866.,

1. Be it enacted by the general assembly of Virginia, That
Lewis D. Crenshaw, William G. Crenshaw, L. D. Crenshaw,
unior, R. B. ‘Haxall, Philip Haxall, Bolling W. Haxall, Seth
4 French, George D. Fisher, John D. Harvey, John H.
Williams, A. F. Harvey, and their associates, are hereby in-
corporated and made a body politic and corporate, by the
name and style of The Columbian Manutacturing Company.

2. The capital of the said company shall be five hundred
thousand dollars, if s0 much be necessary, divided into shares
of fifty dollars each. .

3. The parties above named shall be commissioned to re-

ceive subscriptions to the said stock, but any three of them
may act; and as soon as the sum of one hundred thousand
dollars shall be subscribed in the manner provided in the first
section of chapter fifty-seven of the Code of Virginia, the
said company shall proceed to or ganize itself by the appoint-
ment of a president, vict-pr esident, and five other directors
of the said company, any three of whom shall constitute a
quorum for business.
_ 4. If the company shall be organized before the whole of
its capital stock is subscribed, the president and directors
may, from time to time, sell additional stock, as they may
find it necessary or expedient to do so, until the whole capital
is obtained, unless the stockholders in general meeting shall
otherwise direct, and direct books of subscription to be
again opened.

"5. 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 busi-
ness closed; and every director and stockholder who shall
wilfully violate this section, shall be lable out of his own
estate tor all 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 of the city of Richmond; and upon the trial of such
motion, the fact that a dividend of the capital has been made,
shall be taken as prima facie evidence that it was done wil-
fully; 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 inability to pay

6. The business of the company shall be the manutacture

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 purehase and hold as much‘real
estate, not exceeding one thousand acres. and other property,
asit may deem necessary for its business; and it may pay tor
the same in its stock at its par value. if the purchaser is will
ing to accept the same, or In money.

8. Inall respects not herein provided for, the said company
shall have all the rights. powers and privileges conferred by
chapters. fifty-six and fifty-seven of the Code of Virginia,
and be subject to all the limitations Imposed by those chap-
ters, except so far as they may be in conflict with this act.

9. This act shall be in force trom its passage, and shall be
subject to amendment, alteration, modification or repeal, at
the pleasure of the general assembly.

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Chap. 260.—An ACT incorporating the Columbian Manufacturing Com-
pany in the City of Richmond.

Passed February 26, 1866.,

1. Be it enacted by the general assembly of Virginia, That
Lewis D. Crenshaw, William G. Crenshaw, L. D. Crenshaw,
unior, R. B. ‘Haxall, Philip Haxall, Bolling W. Haxall, Seth
4 French, George D. Fisher, John D. Harvey, John H.
Williams, A. F. Harvey, and their associates, are hereby in-
corporated and made a body politic and corporate, by the
name and style of The Columbian Manutacturing Company.

2. The capital of the said company shall be five hundred
thousand dollars, if s0 much be necessary, divided into shares
of fifty dollars each. .

3. The parties above named shall be commissioned to re-

ceive subscriptions to the said stock, but any three of them
may act; and as soon as the sum of one hundred thousand
dollars shall be subscribed in the manner provided in the first
section of chapter fifty-seven of the Code of Virginia, the
said company shall proceed to or ganize itself by the appoint-
ment of a president, vict-pr esident, and five other directors
of the said company, any three of whom shall constitute a
quorum for business.
_ 4. If the company shall be organized before the whole of
its capital stock is subscribed, the president and directors
may, from time to time, sell additional stock, as they may
find it necessary or expedient to do so, until the whole capital
is obtained, unless the stockholders in general meeting shall
otherwise direct, and direct books of subscription to be
again opened.

"5. 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 busi-
ness closed; and every director and stockholder who shall
wilfully violate this section, shall be lable out of his own
estate tor all 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 of the city of Richmond; and upon the trial of such
motion, the fact that a dividend of the capital has been made,
shall be taken as prima facie evidence that it was done wil-
fully; 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 inability to pay

6. The business of the company shall be the manutacture

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 purehase and hold as much‘real
estate, not exceeding one thousand acres. and other property,
asit may deem necessary for its business; and it may pay tor
the same in its stock at its par value. if the purchaser is will
ing to accept the same, or In money.

8. Inall respects not herein provided for, the said company
shall have all the rights. powers and privileges conferred by
chapters. fifty-six and fifty-seven of the Code of Virginia,
and be subject to all the limitations Imposed by those chap-
ters, except so far as they may be in conflict with this act.

9. This act shall be in force trom its passage, and shall be
subject to amendment, alteration, modification or repeal, at
the pleasure of the general assembly.

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