Chap. 37.—An ACT to incorporate the Virginia Marble Company.

Approved March 30, 1870.

1. Be it enacted by the general assembly of Virginia,
That B. F. Carter, B. P. Noland, J. E. Reeside, R. W. N.
Noland, John W. Wright, John D. Defrees, Frederic P.
Stanton, Job W. Augus, J. E. Lewis, Clinton Loyd, and Wil-
liam E. Niblack, owners of certain marble and other stone
quarries on the waters of Goose creek, Loudoun county, and
their associates and successors, are hereby constituted a body
corporate, by the name of The Virginia Marble Company,
with power by that name to have perpetual succession, to sue
and be sued, to have a common seal, and to alter the same at
their discretion. .

2. Be it further enacted, &c., The said company is autho-
rized to acquire title, either by lease or absolute convey-
ance, to the quarries aforesaid, and lands adjacent or conve-
nient thereto, not exceeding five thousand acres, and to cause
the said quarries to be opened and worked, and the marble
and other stone or minerals to be transported to market for
sale; and also to sub-let or sell and convey such portions of said
lands as may be convenient or necessary to be so used in the
proper development of said quarries.

3. That it shall be lawful for the said company to con-
struct and operate one or more railroads not exceeding
twenty-five miles in length, upon which to transport marble
and other stones and minerals from the quarries to any point
on the Potomac river and on the Orange, Alexandria and
Manassas railroad, or on the Loudoun and Hampshire railroad,
or on any Other railroad hereafter to be byilt which may pass
through the county of Loudoun; and also to improve the navi-
gation of Goose creek from said quarries to its mouth by locks
and dams; .and for these purposes the said company is autho-
rized to acquire the right of way by purchase or otherwise,.
according to the laws of Virginia, and also acquire in the same-
manner all such lands as may be necessary for the complete
construction and equipment of its roads, locks, and dams.

4, Be it further enacted, &c., The said company shall
have power to make all necessary by-laws, rules, and regu-
lations for its own organization; for the management of
its business; for the election of all necessary officers and the
appointment of agents; for the issue of certificates of stock
and the transfer of the same: provided, such by-laws, rules,
and regulations shall not be inconsistent with the laws of this
state; and provided, also, that in all the meetings of stock-
holders the votes shall be in proportion to the amount of stock
held by each respectively.

do. Be it further enacted, &c., The capital stock of said.
company shall be of such amount as the said company
shall determine, and may be increased from time to time at
their discretion; but the amount of capital stock shall not be
fixed at an amount less than fifty thousand dollars nor greater
than the value of the property and franchises owned by said
company, including the sums expended and to be actually
expended in developing said quarries and providing trans-
portation as aforesaid.

6. Be it further enacted,.&c., The said company shall
be required to offer convenient means of carrying pas-
sengers and merchandise for the accommodation of the public
on such railroads as may be constructed; or on Goose creek—
at such reasonable rates as may be usual on similar railroads
or water communications in this state.

_ 7. Be it further enacted, &c., The said company may
issue its bonds at such times and in such amounts as it
may deem proper, and may execute a mortgage or mortgages.
on any part or all of its property and franchises to secure the
payment thereof, and to do all things right and proper to be
done to accomplish the purposes of the said company.

8. Be it farther enacted, &c., The persons named in the
first section of this act shall constitute the first board of
directors, who shall hold their offices until their successors are
elected and qualified.

9. This act shall take effect and be in force from and
after its passage, and shall be subject to the -provisions of
all general laws now in force, or which shall be hereafter
passed, governing internal improvement and other chartered
companies, so far as they are applicable to the company hereby
incorporated. |