Chap. 63.—An ACT to incorporate the southern investment company.

Approved January 17, 1900.

1. Be it enacted by the general assembly of Virginia, That George
Wayne Anderson, Legh R. Page, N. W. Bowe, S. W. Travers, Joseph
Button, their associates, successors, or assigns, be, and they are hereby,
created a body politic and corporate, under the name of the southern
investment company, under which name they mav sue and be sued, have
perpetual succession, and a common seal, and have such other powers
and privileges as by the laws of Virginia now in force are conferred upon
jomt stock companies. _ :

2. The said company shall be authorized to carry on business for the
following purposes, or any of them:
First. To purchase land in this and other states, and to improve,
convey, and exchange the same.

Second. To purchase, own, and hold bonds or other eviden
debt, and shares of the capital stock of any railroad company or
panies formed under the laws of this or any other state, and to gua
the bonds, evidences of indebtedness or capital stock of any ra
company, or other corporation of this or any other state; and an.
poration of this or any other state may acquire and hold the stoc
obligations of said company.

3. The amount of the capital stock with which said company
commence business shall be one hundred thousand dollars, but
amount may be increased from time to time by vote of the stockh
at any meeting of the stockholders called for that purpose to an ar
not exceeding one hundred million dollars. The capital stock c
company may be issued in classes of preferred and common stock
ject to such terms and with such preferences, conditions, and \
power as shall be determined by the stockholders at the time of av
izing the issue thereof, and the amount of any class may be inc
from time to time in like manner, unless otherwise provided in thy
tificates representing stock previously issucd.

The shares of each class shall be of such par value and entit]
holders to such votes, respectively, as the stockholders in like m:
determine.

4. Said company may borrow money and issue bonds or other evid
of indebtedness therefor, and may secure the same by morteave or
of trust upon any or all of its property and franchises; and said
pany may issue and sell its bonds and shares in its capital stock at
prices, and on such terms as may be approved by a vote of the ma:
of the stockholders present at any meeting, and, with Jike approval,
dispose of the same for lands, the stocks or securities of other comp:
contracts of other companies, or of any other valuable thing; and
shares of said stock so disposed of shall, for all purposes, be treat
fully paid and exempt from all calls or assessments thereon.

5. The business, property, and concerns of this company sha
nanaged by a board of directors, consisting of not less than five mem
ind one of their number shall be chosen as president. ‘The stockho
nay adopt by-laws for the management of the stock, property, and
erns of the company, and for the government of its directors, off
ind agents, and they may in and by such by-laws prescribe how
ame may be amended or repealed.

6. The principal office of the company shall be in the citv of Richn
n this state, at which the annual general meeting of the stockho
hall be held, but special meetings of the stockholders and ANY met
f the board of directors may be held elsewhere and outside the li
f this state as may be authorized under the by-laws of the compan

7. It shall be lawful for the circuit court of the city of Richm
pon the petition of the president and board of directors, to ord
hange of the name of the company, but such change of name is t
nade without prejudice to the rights of any creditor or to the
xercise of any of the powers and privileges granted by this act.
All taxes and demands due from said company to the common-
wealth shall be paid in lawful money of the United States, and not in
coupons.

9. This act shall be in force from its passage.