Chap. 257.—An ACT to incorporate the James River Cement Company.

Passed February 21, 1867.

1. Be it enacted by the general assembly, That Charles H.
Locher, Edward McMahan, Nathaniel T. Pate, James G. Pax-
ton, John Kelly, and such other persons as may hereafter be
associated with them, their successors and assigns, shall be
and they are hereby incorporated and made a body corporate
and politic, by the name and style of The James River Ce-
ment and Transportation Company, for the purpose of min-
ing, manufacturing and transporting hydraulic cement, lime,
marble, stone, manganese, baritese, coal, iron and all other
minerals, and for the purpose of doing a general mining, manu-
factyring and transportation business; and the said company
shall be invested with all the rights and privileges conferred
by the Cotle of Virginia upon “other joint stock companies,
so far as they may*be applicable and not come in conflict
with the rights and privileges granted in this act.

2. The capital stock of said company shall not be less than
teu thousand dollars nor more than five hundred thousand
dollars, which is to be divided into shares of twenty-five dol-
lars each. Each stockholder shall be entitled to one vote for
each share of his stock; and the stockholders of this company
shall be responsible for the debts, torts, neglects or liabilities
of the said company, to the amount of their individual stock
and no more.

3. The said company shall have power to purchase and
hold such personal property as they may need in the exer-
cise and discharge of their business, and purchase, hold and
dispose of real estate: provided, that the said company does
not hold or own more than ten thousand acres at any one
time or place; and may use, lease, let, sell, mortgage, transfer
and convey any property that may belong to them, in any
legal manner that they may see fit.

“4. The said company shall have power to transport per-
sons, freight, passengers or property, by land or water, in
their own or hired or chartered boats, vessels, steamers,

wagons, cars and other conveyances, or they may contr act
with and cause to be carried the same over any roads or
waters in or under the control of the state of Virginia, or
they may create and organize agencies for the said purpose,
or form any arrangement, purchase or agreement with any
other transportation company, if the same, in their opinion,
may be advantageous to their interests and ‘the dev elopment
of the mining resources of the state, and to build, establish,
hire, lease or purchase storehouses and other buildings for
the ‘gatekeeping of their property, or property entrusted to
their care for transportation; and to build, lease, purchase
and hold such lands, wharves, docks and piers as they may
require for their business and shall have power to indemnify
themselves by insurance against loss or accident on any pro-
perty that they may own, hold, or be responsible for.

5. The said company shall have power to borrow money
at eifht per centum per annum, issue obligations, bills of ex-
change, and give their promissory or negotiable notes.

6. The principal office of this company shall be at Balcony
falls, Rockbridge county, state of Virgihia, unless the same
be changed to some other place by a vote of two-thirds 6f
the directors; .and the said company may éstablish as many
local offices as the president and board of directors may deem
necessary. |

7. 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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