Chap. 7.—An ACT to incorporate the Old Dominion Oi, Coal, Iron, Plaster
and Gold Mining and Manufacturing Company,

Passed March 13, 1807,

1 Be it enacted by the general assembly, That Paul
Gregory, John Powell, Josey: h Thornton, John &. Powell, E.
M. Lowe, hk. W. Hoeans, W. OH. Mellam, D. F. Dulaney,
George C. Powell and Wm. II. Dulaney y, and others, their
associates, suecessors and assigns, are hereby constituted a
corporation, under the name and style of The Old Dominion
Oil, Coal, Iron, Plaster and Gold Mining and Manufacturing
Company.

2. The object and purposes of the above named company
shall he to mine for oil, coal, iron, plaster and gold, and to
mannifacture and make available any minerals or other pro-
duets of any lands that may be at any time owncd or leased
by said company.

3. And for the purposes of carrying into effect the objects
and intents above mentioned, said company shall have power,
and they are hereby authorized to purchase or lease, in the
counties of Fairfax, Adexandria, Prince William and Lon.
doun, cither by themselves or such trustee or trustees as they
may appoint, all such personal and real estate as they may
deem requisite thereto for the purposes aforesaid, and to sell,
agsien and convey, or otherwise dispose of the same in their
discretion: provided said company shall not hold real pro-
perty in either county, by lease or purchase, exceeding en
thousand acres; to enter into and make all such arrangre-
ments, contracts, deeds and obligations as may be requisite
and proper in the prosecution of the business’ of’ said m-
pany; or to do, or cause to be done, any and every other
lawtul act or thing appropriate to the accomplishment of the
objects herein contemplated and intended, not inconsistent
with the laws of this state or of the constitution of the
United States. It shall be capable of suing and being sued,
and may have a common seal.

4. The capital stock of said company shall he five hundred
thousand dollars, with the privilege of increasing the same,
from time to time, as the company deem requisite to the
proper prosecution of its business, to any amount not ex-
ceeding two millions of dollars. Said stock shall be divided
into shares of one hundred dollars each; which said shares
shall be represented by proper certificates of scrip, and shall
be deemed personal property, transferable by assignment or
otherwise, as may be provided in the by-laws of said com-
pany.

5. The business, property and affairs of said company shall
be managed and gontrolled by a board of five directors
chosen from the stockholders, at such times and under such

regulations as shall be prescribed by the by-laws of said com-
pany, each stockholder being entitled to give, at every such
election, as many votes as he holds shares of stock; said
directors to hold’ their offices one year, or until others be

chosen in their stead: provided, however, that in case a va-
cancy in said board shall occur in the Intervals of any elec-
tion by the stockholders, said board of directors may tile the
same: and provided, also, that the first board of directors
under this act shall be chosen as hereinafter provided. <At
any annual meeting of the stockholders, they may increase
the number of directors to seven or nine.

6. The said board of directors (a majority of whom shall
at all times be a quorum for the transaction of business,) shall
have power and they are hereby authorized to direct, manage
and control the whole property, business and affairs of the
corporation hereby created, and for that purpose may do and
exercise all and every power, authority, act or deed author-
ized to be done and executed within the intent and meaning
of this act. It shall be their duty to make all requisite by-
laws and rules for the regulation of their own proceedings,
and for conducting the business and affairs of such company
for the safekeeping and proper disposition of its property
and effects, and for the just division and distribution among
the stockholders, from time to time, of all moneys or other
proceeds therefrom resulting. They shall elect from their
own body a president, vice president, secretary and treasurer,
and prescribe their duties and compensations, and may re-
move the same at their discretion. They shall likewise pre-
scribe the time and manner of payment of the subscriptions
to the capital of said company, and may enforce the same by
suit at law or otherwise, at their discretion.

7. The corporators hereinbefore named shall be commis-
sioners to procure subscriptions to the capital stock of said
company, and it shall be the duty of said commissioners,
whenever two hundred and fifty thousand dollars of the said
capital stock of five hundred thousand dollars shall be sub-
scribed, to call a meeting of the subscribers of said stock at
Alexandria, in the state of Virginia, or at any other place
Within this state or the District of Columbia, deemed most
convenient by said commissioners, and upon such notice as
they may deem adequate and proper, for the election of the
first board of directors, either in person or by proxy, being
entitled to as many votes in said election as he may have
subscribed shares of stock, and for the transaction of such
other preliminary proceedings as may be requisite to the
proper organization of said company.

x. Be it further enacted, That the said company may con-
struct a railroad, to connect with the line of any railroad, not
exceeding five miles in length, for the transportation of any
products of said company through their own lands or other
lands, with the consent of the owners of said lands.

4. 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.