CHAP. 516.—An ACT to incorporate the Virginia and North Car-
olina land, lumber, and quarry company.

Approved March 4, 1890.

1. Be it enacted by the general assembly of Virginia,
That J. S. H. Clark, of Newark, New Jersey; Thomas P.
Campbell and A. L. Shepherd, of Richmond, Virginia;
James L. Robertson, of Manchester, Virginia; J. Leftwich
Shepherd, of Sussex county, Virginia; and E. C. Tredway,
of Greenesville county, Virginia, or such of them as may
accept the provisions of this act, be, and are hereby, con-
stituted a body corporate under the name and style of the
Virginia and North Carolina land, lumber, and quarry
company; and under that name shall have perpetual suc-
cession and a common seal, which they may amend or
alter at pleasure ; shall sue and be sued, implead and be in-
pleaded, contract and be contracted with, and have and
exercise all the powers and privileges of a corporation
granted by the general laws of the commonwealth not
inconsistent with this act.

2. The capital stock of said company shall not. be less
than fifteen thousand dollars, which may be increased to
one hundred and fifty thousand dollars, in shares of one
hundred dollars each, and the directors may receive real
or personal property or services in payment of subscrip-
tions, at such valuation as may be agreed upon.

3. The said company is authorized and empowered to
purchase, hold, own, lease, and control in any manner,
grant, bargain, sell, mortgage, convey, and otherwise dis-
pose of any real or personal estate or standing timber in
this state or elsewhere: provided, said company shall not
hold more than fifteen thousand acres of land in any one
county at the same time; and to lay out said lands, or any
part thereof, into parcels or lots of convenient size, with
intervening roads, lanes, streets, and 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.

4. The said company is authorized and empowered to
mine and quarry coal, iron ore, marble, stone, and other
mineral substances, and to prepare and manufacture the
same for use and sale inall manner of forms it may adopt,
and to manufacture and prepare for market, and sell tim-
ber, wood, and stone, and all other raw materials, mineral
or vegetable; and for this purpose may erect and operate
all kinds of mill works, furnaces, coke-ovens, and ma-
chinery of any and every description, for the enjoyment
of the privileges herein granted, to the fullest and most
ample extent.

5. The above named corporators shall be directors for
the first year, and shall select a president and appoint a
secretary and treasurer; and the board shall have power
to manage and control the affairs of the company, and to
adopt such by-laws and regulations as may be enacted by
the stockholders, and the time, place, and manner of hold-
ing meetings of stockholders, the declaration of dividends,
and the mode of conducting the business shall be fixed by
the by-laws. Each stockholder shall be entitled to cast
one vote in every meeting of the stockholders for each
share of stock held.

6. The said company shall have the right to build tram-
ways or railroads, to be operated by steam or horse power,
to connect their saw-mills, quarries, lands, manufactories,
or other works with the nearest railroad, and the said com-
pany shall have theright to build tramways or railroads to
connect their lands, saw-mills, quarries, and other works
located in Greenesville, Sussex and Brunswick counties,
Virginia, with either or both the Petersburg and Weldon
railroad and the Atlantic and Danville railroad in said
counties, and the said company shall have the right to ac-
quire the rights of way necessary to build said tramways or
railroads not exceeding sixty feet in width and land not
exceeding two acres in any one parcel, by condemnation,
as the company may deem necessary for the transaction of
its business, and if the company and owners thereof can-
not agree as to the compensation to be paid for the said
rights of way or said parcels of land not exceeding two
acres in any one parcel, the matter shall be settled as pro-
vided in chapter forty-six of the code of Virginia of eigh-
teen hundred and eighty-seven.
. The company hereby agrees to pay taxes and dues to
the state of Virginia in legal money of the United States
and not in coupons. This act shall be subject to amend-
ment or repeal by the general assembly of Virginia at
pleasure.

8. This act shal! be in force from its passage.