Chap. 284.—An ACT to incor orate the New York and Virginia
mining and mineral company of Virginia.

Approved February 18, 1890.

1. Be it enacted by the general assembly of Virginia,
That George W. Palmer, Charles F. Palmer, 8. S. Clayton,
James E. Tyson, and James E. Clayton, or ‘a majority of
them, their associates, successors or assigns, or such of
them and such other persons as may become associated
with them, be, and they are hereby, incorporated a body cor-
porate and politic in fact and in law, under the name and
style of the New York and Virginia mining and mineral
company of Virginia, and by that name shall have per-
petual succession, enjoy all the franchises and privileges
incident to a corporation; sue and be’ sued, plead and be
impleaded; may have a common seal, which they may
have power to alter and renew at pleasure, hold and pos-
sess real estate not to exceed thirty thousand acres; to
receive and hold in fee simple or otherwise, lands and
tenements, estates, personal, and all other property, by
deed of conveyance, lease, or otherwise, and dispose of the
same, or any part thereof, and to do such acts and things
as may be necessary or expedient to assist and promote
the objects and designs of this corporation. |

2. The purpose of the corporation is to carry on a gen-
eral mining and smelting of ores and minerals and min-
eral products and the utilizing of the products therefrom,
and more especially to develop, mine, manufacture and
market the ores of sulphur and copper, and of tron, and to
transport and sell the pyrites of southwestern Virginia, and
to erect, maintain, and operate furnaces, sulphuric acid
chambers, and chemical works, as may be necessary for
the purposes of the corporation.

3. The capital stock of the corporation shall not be less
than one million dollars, nor more than ten million dol-
lars, divided into such number of shares of such par value
as the corporation or directors, or a majority of them may
deem best, and for which payment may be received in full
in cash, lands, timber, labor, services, or any real or per-
sonal estate, and the liabilities of the stock or shareholders
shall only be to the amount which may be due on any
share, or shares, held by each respectively, and the holder
or owner of a full-paid share or shares issued in return for
cash, lands, timber, labor, services, or any real or personal
estate, shall be exempt from all liabilities whatever.

4. The business of the corporation shall be conducted
and managed by a board of directors and a president to be
chosen in such manner, and to consist of such a number,
and to hold office for such periods of time as may be pres-
cribed in the by-laws of the corporation, and the directors
or a majority of them shall have power to make by-laws
and rules for the government of the corporation, and to
alter and amend them when necessary; to appoint such
officers and define their duties; to enter into contracts,
buy and sell real and personal property, minerals and
mineral products, and to do all other acts and things inci-
dent and according to the laws governing corporations, and
the aboved named incorporators, or a majority of them,
shall manage the affairs of the corporation until such
times as the stock or shareholders may meet and elect a
board of directors, who shall elect a president.

5. The principal office of the corporation shall be at
their main works in southwest Virginia; but the direc-
‘tors shall have power to establish such other offices in such
other states or in Europe for the selling of their products,
conducting their financial business, and for the selling
and transferring of the stock or bonds or other obligations,
as they may deem best for the interest of the corporation,
and the directors may appoint such places for holding of
meetings, and for the election of directors and for the
transactions of the business of the corporation, as a major-
ity of them may deem most convenient. .

6. It shall be lawful forthe corporation to borrow money
to such an amount as may be necessary in the prosecution
of any of its works, and to issue and sell its bonds from
time to time for such sums and on such terms as the
board of directors may deem expedient. Such bonds or
debentures may be expressed in dollars or in pounds ster-
ling, and to secure the payment of such bonds by mort-
gage or mortgages upon all or any parts of its property,
franchise or income.

7. It shall furthermore be lawful for the corporation
hereby chartered to subscribe to the capital stock of other
mining or manufacturing corporations operating or intend-
ing to operate in the state of Virginia, and to pay such
subscriptions in money or in property at an agreed value.

8. All taxes due the state by this company shall be paid
in lawful money of the United States and not in coupons.

9. This act shall be force from its passage.

CHapP. 285.—An ACT to authorize the board of supervisors of
Fluvanna county to borrow $4,000.

Approved February 18, 1890.

1. Be it enacted by the general assembly of Virginia,
That it may be lawful for the board of superviSors of
Fluvanna county to borrow a sum of money not to exceed
in amount the sum of four thousand dollars, and to issue
the bonds of the county, redeemable in ten years, and to
bear a rate of interest. not to exceed six per centum per
annum, to pay off all outstanding warrants of said county
issued prior to the year eighteen hundred and eighty-
eight.

2. The bonds authorized to be issued under this act
shall be signed by the chairman of said board, and coun-
tersigned by the clerk of the county court, with the county
seal annexed, and shall not be negotiated at less than
their face value.

3. But nothing in this act shall be construed to compel
said board to issue any bonds under this act until a
majority of said board has determined to do so at a regu-
lar meeting. |

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