Chap. 172.—An ACT to incorporate The Northern Immigation and
Colonizing Association of Virginia.

Approved March 16, 1875.

1. Be it enacted by the general assembly of Virginia,
That C. P. Ramedell and J. H. Van Auken, of the city of
Petersburg; F. J. Arnold and W. C. Newberry, of the city
of Richmond; W. F. Giddings and A. O. Bliss, of the county
of Chesterfield; W. A. Parsons, of the county of Gooch-
land; N. P. Rue, of the county of Norfolk, state of Virginia;
and A. W. Cox, of Parkersburg, state of West Virginia, or
such of them as may accept of the provisions of this act,
affd such other persons as may hereafter be associated with
them, their successors and assigns, be and they are hereby
constituted a body corporate and politic, to be known as
The Northern Immigration and Colonizing Association of
Virginia, and by that name to sue or be sued, plead and be
impleaded in all the courts of law and equity in this state;
may have, use, and make a common scal, and the same
break, alter, and renew or change at their pleasure; may
make, ordain, establish, alter or amend such by-laws, ordi-
nances, and regulations concerning all points of organiza-
Lion and business, not herein specifically provided for, as
Lhey may think wise; and generally may do every act and
-himg necessary to carry into effect this act, or to promote
the objects and designs of the corporation: provided, that
such by-laws, ordinances, regulations or acts be not incon-
sistent with the laws of this state or of the United States.

2. The objects of this association are: to promote immi-
gration by colonization; to settle families and persons from
the more thickly settled states upon the cheaper lands in
this state in one or more localities in colonies; to furnish
advice and aid to such families and persons; and to these
ends to buy for cash or otherwise, in quantities to suit, tila-
ble and grazing, improved or unimproved, lands in this state,
and sub-divide and offer such lands for sale in such quanti-
ties and on such terms as to enable and induce persons of
small means to pay and secure lands, and to settle homes of
their own, independent of others, in colonies; and the asso-
ciation may act as agent for the purchase and sale of lands
for such purpose; also, to contract with railroad and steam-
boat companies for the transportation of families and per-
sons and their effects to the places selected for their scttle-
ment.

3. Tne capital stock of said association shall not be less
than five thousand dollars, which may be increased from
time to time by tho stockholders to a sum not exceeding one
bundred times that amount; said stock to be divided into
shares of one hundred dollars each; and at all meetings of
the stockholders each share shall be entitled to one vote,
which may be given by the holder thereof or by proxy.

4. When the minimum amount of capital stock named is
subscribed, ten dollars per share shall be paid in before the
association shall commence business; the remaining instal-
ments may be called in from time to time as may be required
by the board of directors; after the minimum amount of
stock has been subscribed, and the association organized, it
may, by a vote of a majority of its stoek, receive lands in
payment for additional stock or-for the instalments remain-
ing unpaid on stock already subscribed, and may instruct its
board of directors to select such lands and agree with the
owners thereof upon the price to be paid therefor in stock,
and such lands shall thereupon become the property of the
association.

5. Every stockholder not in debt to the association may,
at pleasure, by power of Attorney or in porson, assign If
stock and transfer the same on the books of the association;
but no stockholder, indebted or liable to the association,
shall be permitted to make a transfer of his stock, or
receive, a dividend until such debt or liability be paid or
secured to the satisfaction of the board of directors.

6. When five thousand dollars of the stock shall have been
subscribed, the corporators may, at their discretion, call a
meeting of the stockholders and fully organizo the associa-
tion by electing five directors, who shall be stockholders in
the association, which said board of directors, or a majority}
of them in meeting assembled, shall manage and control al
the business aud affairs of the ‘association, and shall choos:
a president and vice-president from their own number, anc
may appoint a secretary and treasurer, and such other offi
cers and agents as their by-laws may ‘direct, and said direc
tors, or a majority of them, shall have power to fill any va.
cancies in their number.

7. The officers of the association shall hold their offices
until their successors are appointed or chosen and qualified.

8. The principal office of said association may be in the
city of Richmond, or such other place as the stockholders
shall select in the state of Virginia, and they may establish
other offices or agents at such places as may be deemed best
to promote the objects of this association, either in or out of
this state.

9. The said association shall have the privilege to lay off
lands into town and village lots, and dedicate to public use
highways, streets, cemeterics and parks, and establish towns,
villages, churches, schools and manufactures; to sell their
lands or improvements thereon on such terms as may be
agreed upon, and may take notes or bonds, and deeds of
trust, bearing legal rate of interest, from individuals or cor-
porations therefor, and may loan or borrow money.

10. This act shall be in force from its passage, and be sub-
ject to the contro!, mgaiiieytion or repeal of tbe general az-
sembly.