An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1889/1890 Private Laws |
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Law Number | 76 |
Subjects |
Law Body
CHaP. 76.—An ACT to incorporate the Virginia mercantile and
safe deposit company of Richmond, Virginia.
Approved January 24, 1890.
1. Be it enacted by the general aero Diy of Virginia,
That J. Taylor Ellyson, Charles R. Skinker, Thomas A.
Atkinson, John Addison, James D. Crump, William 8.
Archer, Charles Watkins, N. W. Bowe, William J. John-
son, Norman V. Randolph, E. A. Saunders, Marshall M.
Gilliam, James N. Boyd, William H. Palmer, T. William
Pemberton, GranvilleG. Valentine, Thomas L. Alfriend,
Peter H. Mayo, and all other persons who shall hereafter
become stockholders in the company hereby incorporated,
shal! be a body corporate by the name and style of the
Virginia mercantile and safe deposit company of Rich-
mond, Virginia, and by that name shall have perpetual
succession, and may contract and be contracted with, sue
and be sued, plead and be impleaded, defend and be
defended in the courts of law and equity, and it may have
a common seal and may alter and renew the same at
pleasure, and shaJj] have, enjoy, and exercise all rights,
powers, and privileges pertaining to corporate bodies and
necessary for conducting the affairs of this company.
2. The capital stock of said company shall be one hun-
dred thousand dollars, and the same may be increased
from time to time at an annual or special meeting, if a
majority in interest of the stockholders of said company
so determine, to a sum not exceeding one million of
dollars. Such capital shall be divided into shares of one
hundred dollars each, and shall be transferrable in such
manner as shall be prescribed by the by-laws of said com-
pany. The corporators or a majority of them named in
the first section of this act shall have power to open books
for subscriptions at such times and places as they may
deem expedient; and when not less than one thousand
shares shall have been subscribed, and ten per centum of
same shall have been paid in cash, said company may
organize, elect a board of directors, and commence busi-
ness. And should the capital stock at any time be
increased the directors may sell the shares of such
increased stock, or any part thereof, at such price and
upon such terms as they may deem to be to the best inter-
est of the company: provided the stockholders at the time
of said increase shall be entitled to a pro rata share of
such increase upon the payment of the price, and in
accordance with the terms fixed by the board of directors.
The stockholders, upon organization, may elect ten or
more directors to serve until the ensuing annual election,
or until their successors have been duly elected and
qualified; and the directors so elected of said company,
when it shall have been organized, may have and exercise
in the name and in behalf of said company all rights and
privileges which are intended to be hereby given. The
principal office of said company shall be in the city of
Richmond. All the directors of the said company shall
be citizens of the United States.
3. An annual meeting of the stockholders, at which and
at any other meeting those owning a majority in value of
capital stock shall constitute a quorum, shall be held on
such day as may be by them prescribed in general meet-
ing from time to time, or as may be designated in the by-
laws of the company, at which annual meeting the board
of directors shall be chosen. The president and board of
directors may at any time call a general meeting of the
stockholders, and any number of stockholders owniag not
less than one-third of the whole number of shares of the
capital stock, may require the president to call such
meeting, and on his refusal so to do may themselves call
such meeting; in each and every case giving at least fif-
teen days’ notice by publication in one or more of the daily
newspapers published in the city of Richmond. The
directors shall elect from their number, at the first meet-
ing of the board after their election, and annually there-
after at the first meeting after their election, a president
and vice-president, who shall hold their offices for the
term of one year and until their successors are elected and
qualified, and shall also have the power to elect a secretary
and treasurer, and to appoint and employ such other
officers, clerks, agents, employees, and attorneys at law as
the business of the company from time to time may
require. All elections of directors shall be by ballot, and
every stockholder shall be entitled at their meetings to
one vote for every share of stock standing in his or her
name upon the books of the company; but no person shall
be eligible as director who is not a stockholder to the
amount of ten shares of stock. The president, vice-
president, and directors of the company shall have power
to enact and adopt such rules, regulations, and by-laws for
the government and management of the affairs of said
company as they may deem best for the interest thereof;
provided the same be not contrary to the laws of this
state or of the United States. The directors shall have
‘power to require payment of the amount subscribed to the
-stock of the corporation at such times and in such pro-
portions as they shall think proper. No certificate evi-
dencing the ownership of stock shall be issued to any
person until the amount as prescribed by the board of
directors therefor shall have been fully paid into the com-
pany. The directors shall have power to declare such
dividends out of the net earnings of the said company as
they may deem proper; provided that no dividend shall be
declared where the capital stock would be impaired thereby.
4. The said company is hereby authorized and empow-
ered to receive deposits of money, securities, bonds, notes,
and other personal property from any person or corpora-
tion, and the same to purchase, hold, collect, adjust, settle,
sell, and dispose of, and upon such terms as may be agreed
upon between it and the parties contracting with it; and
to lend money on real or personal or mixed security, or
purchase bonds and mortgages secured by real or personal
or mixed estate within the United States; to guarantee,
for valuable consideration, the payment of bondsor notes,
or the performance or fulfillment of contracts of corpora-
tions or individuals, or to furnish or receive collateral se-
curity for the payment of money or the performance of
contracts, or to sell bonds secured by mortgages or deeds
of trust upon property situated within the United States,
and to guarantee the payment of the principal and inter-
est of the same, or to act as agent for the sale of real estate,
farms, and country lands, both at auction and privately,
but all sales at auction shall be by a regular licensed
auctioneer, or for negotiating loans on the same, or for de-
veloping the farming and mining interests of this state.
The said corporation is hereby also authorized and em-
powered to borrow money and execute its notes for the
same; to purchase, hold, and convey real and personal
and mixed estate, and to maintain and let for hire, vaults,
‘safes, boxes, and like receptacles designed and adapted for
renting to persons or corporations who desire to have a
place of safe deposit for valuables; and in like manner to
purchase, hold and convey all such other real and personal
and mixed property as said company may acquire in the
collection or settlement of its demands or claims, or pur-
chase, or take on foreclosure, or enforcement of mortgage;
to act as the fiscal agent of any state, municipality or cor-
poration, and in such capacity to receive and disburse
money, and transfer, register and countersign certificates
of stock, bonds, or other evidences of indebtedness; to act
as agent or attorney in leasing, conveying, and man-
aging real and personal and mixed estate, receiving and
collecting rents and other moneys; to examine the titles
of real or personal or mixed estate, and guarantee the
validity of the same; to accept and execute trusts of any
and every description which may be committed or trans-
ferred with its consent to it by any person or persons,
bodies corporate or public, or by any court in the state of
Virginia, or in any of the United States, and to act as fidu-
ciary or surety for fiduciaries in the city of Richmond
and counties of Henrico, Hanover, Goochland, Chesterfield
and Powhatan: provided, that said company shall not in
any case become surety on an official bond of a state or
county officer. The stockholders of this corporation shall
not be personally liable for any loss, debt, contract. or ob-
ligation of the said company, except to the extent of any
unpaid subscription to the capital stock of said company.
5. The exercise and performance of all the powers and
duties aforesaid by the said company may be, as to com-
pensation and otherwise, matters of contract between it
and the parties interested.
6. All. taxes, debts, dues and demands from the said
company to the state of Virginia shall be paid in lawful
money of the United States and not in coupons.
7. This act shall be subject to amendment or repeal at
the pleasure of the general assembly of Virginia and
shall be subject to all the restrictions and limitations of
the statutes of this state, except such as are in conflict
with this act.
8. This act shall be in force from its passage.
CuaP. 77.—An ACT to incorporate the Hitchcock-Trego land,
lumber and quarry company.
Approved January 724, 1890.
1. Be it enacted by the general assembly of Virginia,
That C. T. Trego and A. B. Hitchcock, of Chicago, [)li-
nois; H. A. Hitchcock and L. D. Smith, of Norfolk, Vir-
ginia, and P. H. Frion, of Greenesville county, Virginia, or
such of them as may accept the provisions of this act, be
and are hereby constituted a body corporate under the
name and style of the Hitchcock-Trego land, lumber and
quarry company, and under that name shall have perpetual
succession and a common seal which they may alter or
amend at pleasure; shall sue and be sued, implead and be
impleaded, 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 in-
consistent with the terms of this act. | .
2. The capital stock of said company shall not be less
than twenty-five thousand dollars, which may be increased
to two hundred and fifty thousand dollars, in shares of one
hundred dollars each, and the directors may receive real
or personal properties or services in payment for 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 shal! not
hold more than twenty 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 the 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 in all manner of forms it may adopt,
and to manufacture and prepare for market and sale tim-
ber and stone, and:all other raw materials, mineral or
vegetable, and for this purpose may erect and operate all
kinds of mills, works, furnaces, coke ovens, and machinery
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 the 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 holding meetings of the stockholders, the declara-
tion of dividends, and the mode of conducting the busi-
ness of the company 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 said company
shall have the right to bujld tramways or railroads to
connect their lands, sawmills, quarries, and other works
located in Greenesville county, Virginia, with both the
Petersburg and Weldon railroad and the Atlantic and
Danville and Meherrin Valley railroads in said county ;
and the said company shall have the right to acquire the
rights of way necessary to build said tramways or rail-
roads, not exceeding sixty feet in width, and land not ex-
ceeding 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 is
provided in chapter forty-six of the code of Virginia of
eighteen hundred and eighty-seven.
7. The company hereby agrees to pay its taxes and dues
to the state of Virginia in legal money of the United
States and notin coupons. This act shall be subject to
amendment or repeal by the general assembly of Virginia.
8. This act shall] be in force from its passage.