Chap. 79.—An ACT to incorporate the Buckingham Slate Company of Virginia.

Passed January 17, 1867.

1. Be it enacted by the general assembly of the state of
Virginia, That John E. Mulford, Albert Ordway and Phineas
A. Davis, and: their associates and successors, or a majority
of them, are hereby created and constituted a body politic
and corporate, by and under the name and style of Bucking-
ham Slate Company of Virginia, and as such may have per-
petual succession, for the purpose of quarrying slate in the
county of Buckingham, i in the.state of Virginia, and manu-
facturing the same for roofing or other purposes.

2. And be it further enacted, That the said company may
contract and be contracted with, sue and be sued, plead and
be impleaded, in all courts and places ; shall have a seal, and
all the rights and privileges of a corporation, and be subject
to all the rights, regulations and restrictions imposed by the
Code of Virginia in relation to joint stock companies, so far
as they are applicable to and not inconsistent with the pro-
visions of this act.

3. And be it further enacted, That the minimum capital
stock of said company ‘shall be not less than one hundred
thousand dollars, nor shall its maximum exceed one million
dollars, to be divided into shares of one hundred dollars
each ; .and the board of directors shall have power to increase
the amount of the capital stock to the limit aforesaid.

4, And be it further enacted, That the company shall
have power to make such by-laws and ‘regulations as may be
deemed necessary for the government of its affairs. The by-
laws may prescribe the number of, and the manner in which
the directors, officers and agents shall be appointed, and may
prescribe their several terms of service, and their powers,
duties and compensation; and in all meetings of the share-
holders, each share represented i in person or by proxy shall
be entitled to one vote. The meetings of this company may
be held in the city of Richmond, Virginia, or elsewhere, as
the board of directors may determine.

do. And be it further enacted, That the said company may
purchase, lease or by any lawful means acqUire and hold es-
tate, personal or real, and the same may use, lease, sell, mort-
gage, transfer and convey, and make available their property:
provided, however, that the said company shall not, at any
one time, own real estate in the state of Virginia exceeding
five thousand acres in the county of Buckingham, and one

acre in the county of Henrico.

_ .6. This act shall be in force from its passage, a and subject
to modification, alteration or repeal, in the discretion of the
general assembly of Virginia.