Chap. 124.—An ACT to amend sections 1, 5, and 6 of the charter of the Ameri-
can development company of the United States, approved January 29, 1898.

Approved February 14, 1901.

1. Be it enacted by the general assembly of Virginia, That sections
one, five, and six of an act entitled an act to incorporate the American
development company of the United States, approved January twenty-
ninth, eighteen hundred and ninety-cight, be amended and re-enacted
so as to read as follows:

§$ 1. Be it enacted by the general assembly of Virginia, That Tazewell
illett, A. A. Johnston, J. W. Percival, Clyde W. Saunders, Royal Ben-
nett Bradley, and George W. Wynant, all of the city of Richmond, state
of Virginia, or such of thein as may accept the provisions of this act,
their associates, successors, heirs or assigns be, and they are, hereby
incorporated, instituted, and made a body, politic and corporate, under
the name, title, and style of the American development company of the
United States, and by that name shall be known in law, and as such are
authorized and empowered to purchase, own, occupy, develop, improve,
use, farm, sell, lease, rent, buy, hold, grant, and convey at pleasure any
real, personal, or mixed property in South America and adjacent islands,
and more especially to buy, lease, sell, rent, operate, and generally to
own and develop any concession, grant, or franchise of street railways,
bonded warchouses, coaling and supply stations, cattle-packing, cold-
storing and shipping, railroads, telegraph and telephone lines, or any
other grant, concession or franchise that the said company may acquire
in any country, republic, or dependency in South America and adjacent
islands; and to establish, operate, own, perpetuate, and generally to work
or cause to be worked or operated any mines, mills, factories, furnaces,
electric plants, or any other commercial, mercantile, transportation, nav-
igation, industrial, or manufacturing enterprise of whatever kind or
nature in South America and adjacent islands. In the state of Virginia,
South America and adjacent islands, the company shall have the power
to do a general banking business, and for these purposes the company
shall have the authority to buy, hold, sell, lease, or otherwise dispose of
any real or personal property necessary to the proper prosecution of its
business; the real estate in Virginia not to exceed two acres, and may,
in South America and adjacent islands, build or lease, in connection with
the use or improvement of any of its properties, tramways or railways
operated by horse, steam, or electric power.

$5. Tt shall be lawful for the said company to guarantee or hold the
honds or stock of any other financial, industrial, or manufacturing cor-
poration in South America and adjacent islands, subject to the general
laws of said countries, or any mining, railroading, financial, manufac-
turing, or municipal corporations in South America and adjacent
islands: and may euarantce the honds or stock of said company.

§ 6. The said company may own and hold as much land as may be
suitable and necessary for its purposes, and may purchase or otherwise
acquire by condemnation proceedings or otherwise, such land in any
republic or dependency in South America and adjacent islands, but shall
not hold more than two acres at any one time in the state of Virginia,
and shall not have the right of condemnation in said state.
2. This act shall be in force from its passage.