CHAP. 436.—An ACT to incorporate the Shenandoah mining and
land improvement company, of Milnes, Virginia.

Approved March 3, 1890.

1. Be it enacted by the general assembly of Virginia,
That D. F. Kagey, J. S. Harnsberger, H. J. Smoot, E P.
Bottsford, C. J. Stevens, J. P. Brown, J. S. Grayson, J. H.
Harrison, N. J. Payne, R. S. Beckers, A. J. Braud, T. Dris-
coll, G. Julian Pratt, W. H. Greenwell, Smith Turner, G.
H. Elliott, T. L. Wood, James W. Rodgers, Henry Fairfax,
Joseph Price, S. J. Richey, and Stewart Jones, and such
persons as may be associated with them, and their succes-
sors, are hereby appointed a body politic and corporate
by the name and style of the Shenandoah mining and
land improvement company, and by such name shall have
perpetual succession ; may contract and be contracted with,
sue and be sued, make and use a common seal, and alter
the same at pleasure; and make and maintain such by-
laws, rules, and regulations for the government of said
corporation and the conduct of its business as may be
deemed necessary, not to conflict with the laws and con-
stitution of this state or of the United States. |

2. The capital stock of said company shall not be less
than five thousand dollars, nor more than five hundred
thousand dollars, shares to be divided into fifty dollars
each, but the same may be increased from time to time as
the stockholders may determine; and for the purpose of
obtaining subscriptions to said capital stock any two per-
sons named in the foregoing section ‘may open books of
subscription at such times and places as they may ap-
point.

3. The said company is authorized and empowered to
purchase, lease, own, hold, and control in any manner, sell
and convey real and personal estate: provided, that said
company shall not own more than twenty thousand acres
of land in any one county at one time; and the said com-
pany is authorized and empowered to lay out said lands,
or any part thereof, into parcels or lots of convenient size ;
to construct houses and other buildings for the purpose of
sale or for rent, with roads, lanes, streets, or alleys, and
develop, work, improve, and cultivate, or otherwise use or
dispose of same in such manner and upon such terms as the
said company may think proper; and the said company
shall have the exclusive right to construct, maintain, and
operate within any city, town, or village, which the said
company may plat or lay out, street railroads, whether
operated by steam, electric, or animal power, water-works
and gas-works or other systems of illumination. The said
company may also build and construct roads, tramways,
or railways, not to exceed fifty miles in length, in connec-
tion with their operations.

4. The said company may also construct, maintain, and
operate pipe-lines for the purpose of conducting gas, oil,
or other liquids; and for the purpose of constructing, main-
taining, and operating any of the above works the said
company shall have all the rights, powers, and privileges
which are given to internal improvement companies by
the general laws of the state. _

5. The said company is authorized and empowered to
bore and operate wells for gas, oil, or other liquids, and
to mine and quarry coal, iron, ochre, manganese, lead, and
other mineral substances, and to prepare and manufac-
ture the same for use and sale in all manner of forms it
may adopt, and to manufacture and prepare for market
and sale all other raw materials, mineral or vegetable, and
for this purpose may erect and operate all kinds of fur-
naces, mills, manufactories, coke-ovens, machinery, and
other works necessary for the enjoyment of the privileges
herein granted to the fullest and most ample extent. The
said persons named in this act, or a majority of them,
shall constitute the first board of directors, one of whom
shall be elected president. They shall] continue in office
for one year and until their successors are elected by the
stockholders. Each stockholder in the company shall at
all meetings and elections be entitled to one vote for each
share of stock registered in his name. The board of
officers may establish offices and agencies at such places
as it may deem proper, but the annual meeting shall be
held and the principal offices shall be located in the state
of Virginia.

6. All taxes arising under this act shall be paid in law-
ful money of the United States and not in coupons.

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