Chap. 376.—An ACT to amend the charter of the Mercantile publishing com-
pany, of Norfolk city.

Approved February 18, 1896.

1. Be it enacted by the general assembly of Virginia, That the
second section of an act approved March third, eighteen hundred
and ninety, entitled an act to incorporate the Mercantile publishing
company, of Norfolk city, be, and is hereby, altered and amended to
read as follows:

§ 2. The capital stock of said company, for purposes of organiza-
tion, shall not be less than five thousand dollars, divided into shares
of one hundred dollars each. Said company may, with consent of
a majority of the stockholders, increase the minimum capital stock
from time to time to such an amount, or amounts, as may be deemed
expedient, such stock to be in such proportion of common and preferred,
and to be issued and sold in such manner by the treasurer on the
order of the board of directors, as the stockholders, in meeting assem-
bled, may by resolution direct when authorizing such increase, pro-
vided the capital stock shall not exceed two hundred and fifty thou-
sand dollars; and the said company may, at any time, with the consent of
a majority of the stockholders, buy in its common stock and redeem its pre-
ferred stock, with cumulative interest at the rate of six per centwm, after
deducting all dividends which have been paid on the same; but the capital
stock must not be reduced below fifty thousand dollars after that amount
has been subscribed and paid in. In all meetings of the stockholders
each share shall be entitled to one vote, which vote may be cast in
person or by proxy.

2. And be it further enacted by the general assembly of Virginia,
that the fifth section of an act approved March third, eighteen hun-
dred and ninety, entitled an act to incorporate the Mercantile pub-
lishing company, of Norfolk city, be, and is hereby, altered and
amended to read as follows:

§ 5. The said company may acquire whatever real estate may be
necessary for its purposes in the city of Norfolk, and may invest a
part of its capital stock in a building in which to transact all its business,
and to contain offices and halls for professional and commercial purposes,
with authority to let, rent, and lease the same.

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