Chap. 132.—An ACT to incorporate the Farmers and Mechanics Cotton
and Woollen Manufactory of Alexandria, Virginia.

Passed J anuary 29, 1867.

1. Beit enacted by the general assembly of Virginia, That
Samuel Brown, Oscar Stephens, Lewis W. Conner, Aaron
Fenton and Willard Pierce, and such other persons as may
hereafter be associated with them, are hereby incorporated
and made a body politic and corporate, by the name and
style of The Farmers and Mechanics Cotton and Woollen
Manufactory of Alexandria, Virginia.

2. The capital of the said company shall be tive hundred
thousand dollars, divided into shares of fifty dollars each.

3. Books of subscription may be opened in the city of
Alexandria by Willard Pierce, James F. Carlin, H. K. Brad-
shaw, Samuel Garwood and John H. Bryant—any three of
whom may act. Assoon as the sum of fifty thousand dollars
shall be subscribed in the manner provided in the first sec-
tion of chapter fifty-seven of the Code of Virginia, the said
company shall proceed to organize itself by the appointment
of a president and five directors of the said company—any
three of whom shall constitute a quorum for business.

4. The said company are hereby authorized to borrow
three hundrgd thousand dellars, and to issue bonds with con-
pons attached, bearing interest at the rate of seven and a
‘at per centum per annum, payable in the city of New

fork.

5. The business of the company shall be the manufacture
of cotton, woollen and other fabrics, and such other things
or articles as the stockholders may in general meeting deter-
mine, which it may sell by wholesale or retail.

6. The said company may purchase and hold real estate,
not exceeding two acres of land in the city, or fifty acres in
the county of Alexandria, and such other property as may
be deemed necessary for its business; and it may pay for the
same in its steck at its par value, if the purchaser is willing
to accept the same, and it may pay for the same in money or
its stock.

7. In all respects not herein provided for, the said company
shall have all the rights, powers and pr ivileges conferred by
chapters fifty-six and fifty- seven of the Code of Virginia, and
to be subject to all’ the limitations imposed by those chap-
ters, so far as they may not be in conflict with this act.

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