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 |
---|---|
Law Number | 9 |
Subjects |
Law Body
CHAP. 9.—An ACT to incorporate the West Lynchburg land
company.
Approved December 19, 1889.
1. Be it enacted by the general assembly of Virginia,
That John W. Daniel, Robert Slaughter, F. A. Kinckle, W.
H. Wren, N.C. Manzon, Jr., and such other persons as are
now or may hereafter be associated with them, shall be,
and they are, hereby created a body politic and corporate
under the name and style of the West Lynchburg land
company, under which name they may sue and be sued,
make a common seal, and do all things and have all pow-
ers and functions usual to like corporations under the
laws of Virginia.
2. The capital stock of said company shall not be less
than one hundred thousand nor more than two million
dollars, to be divided into shares of the par value of one
hundred dollars each. __..
3. The principal office of said company is to be located
at Lynchburg, Virginia.
4. The control and management of the company shall
be vested in a president, vice-president, and ten directors.
The president and vice-president shall, ex-officio, be mem-
bers of the board of directora, and with the said ten direc-
tors shall constitute a board of twelve members. The ten
directors shall be selected by the stockholders, but the
president, vice-president, and all other officers and em-
ployees shall be elected by the board of directors.
5. The board of directors shall be elected by the stock-
holders at the annual meeting in each year. The time
and place of holding such meeting shall be fixed by the
by-laws of the company, which may be adopted by the
board of directors of stockholders.
6. The company shall have power to purchase and hold
real estate, and to improve, mine, sell, convey, lease, ex-
change, or otherwise dispose of the same: provided it shall
at no time hold more than fifty thousand acres of land; to
purchase and hold, sell and convey, all such personal es-
tate as may be necessarv for its purposes; to borrow money,
and to issue bonds therefor, or notes, and to secure the
same by mortgages or deeds of trust on its property or
franchises, or any part thereof; to subscrihe to, purchase
and sell the capital stock of any other joint stock com-
pany to be or already located on its lands; to build any
mill, furnace, foundry, or any manufactory, and by its
agents and employees to conduct the business thereof; to
build houses on its lands, or elsewhere, and to rent out the
same and collect the rent thereof; to lav out streets on its
property, and to dedicate them and any other of its pro-
perty to the use of the public, when in its opinion its in-
terests will be advanced by doing so; to give away land or
water power for the site of any mill or other enterprise
which its board of directors may deem to its advantage,
and to make donations of money or other thing to any in-
dividual or corporation locating on its lands; to establish
street-car lines, water-works, gas or electric works, and to
conduct the same upon its property or elsewhere, and to do
any other thing in connection with such works necessary
for the profitable use or the reasonable sale and disposition
of their products.
The powers of the company may be exercised by the
board of directors, or by an executive committee thereof,
as the board of directors may determine.
®. The board of directors shall have power to fill all va-
cancies in its body, and to delegate any or all of its powers
to an executive committee of not less than five of its mem-
bers. Should a member of the board of directors be elected
president, such election shall be considered as creating a
vacancy in said board. which may he filled by said board.
9. The business of the company shall be conducted as
prescribed by the by-laws adopted by the board of direc-
tors or stockholders.
10. The said company may receive subscriptions to its
stock in land, materials, or other valuable thing, or in the
stock of any other company upon such terms as may be
agreed. and mav sell its own stock at, above, or below par,
and may issue the same for land, materials, services, OF
other valuable thing, upon such terms as may be agreed.
And the stock of the company so issued shall be deemed
paid up to all intents and purposes as if paid for at par in
money.
11. And whereas a charter of incorporation was granted
to the West Lynchburg land company by the corporation
court of Lynchburg in vacation on the twenty-sixth day of
October. eighteen hundred and eighty-nine; and whereas
the corporation mentioned did proceed to organize the
company. and to transact business in pursuance of au-
thoritv granted in the charter aforesaid; and whereas it is
desired by them that a legislative charter be obtained, and
that their acts and doings be confirmed to the same degree
and to all intents and purposes as if the general assembly
had granted such charter of October twenty-sixth, eighteen
hundred and eighty-nine: Be it further enacted by the
general assembly, that all acts, proceedings, transactions,
contracts, aud agreements done and entered into by the
aforesaid parties, their successors, agents, or their direc-
tors, in the name of the West Lynchburg land company,
and al! rights; titles. and interests of every kind and na-
ture acquired hy said company under and in pursuance of
said charter. and not otherwise illegal or inconsistent with
the laws of this state, from and after the said twenty-sixth
day of October, eighteen hundred and eighty-nine, shall
he held and taken to be, and to have been from the afore-
said twenty-sixth day of October, eighteen hundred and
eighty-nine, of the same force, virtue, and effect in all re-
apects as if said charter had been then granted by the gen-
eral assembly of Virginia. The principal office of said
company may be in Lynchburg, or West Lynchburg, as
the company may determine.
12. Until the annual meeting of the stockholders of the
company, or until it shall otherwise legally order, the fol-
lowing persons shall be the officers and directors of the
company—to wit: John W. Daniel, president; John F.
Slaughter, vice-president; Walker G. Hamner, treasurer ;
Chapman W. Maupin, secretary—all of Lynchburg, Vir-
ginia; and Max (Gruggenheimer, Jr., Robert Slaughter, T.
D. Evans, W. H. Wren, J. Hickson, John P. Pettyjohn,
Robert Kinnier, C. R. Moorman, and the aforesaid presi-
dent and vice-president, ex-officio—all of Lynchburg, Vir-
ginia; J. H. Dingee, of Philadelphia, Pennsylvania, and
W. W. Flannagan, of New York city, New York, directors.
13. This act shall be in force from its passage.
Chap. 9.—An ACT to incorporate the Amherst mining and
manufacturing company.
Approved January 25, 1890.
1. Be it enacted by the general assembly of Virginia,
That Arthur F. Reid, Henry Harell, R. H. Johnson, W1l-
liam C. Johnson and Edgar Whitehead, and such persons
as may be associate with them, and their successors, are
hereby created and constituted a body politic and corpo-
rate by the name and style of the Amherst company, and
by such name shall have perpecual succession, may con-
tract and he 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 he deemed necessary, not to conflict with
the laws or the constitution of this state or of the United
States.
2. The capital stock of said company shall not he less
than two hundred thousand dollars, to he divided into
shares of one hundred dollars each, and the same mav
from time to time be increased hy additional subscription-
or the issue and sale of shares to such amount not exceed-
ing five million dollars as the stockholders at any general
or special meeting may authorize and prescribe. The said
company may raise subscriptions to its capital stock or
18
payment for its shares so issued in money, land or other
property, or rights or easements upon such terms as shail
be agreed or authorized by the board of directors, and
said company may give a preference to a portion of its
capital stock over the residue thereof as to dividends and
the payment thereof.
3. The corporators herein above named, or any three of
them, may receive subscriptions to the capital stock oi
said company, and when the minimum capital of ten thou-
sand dollars shall have been subscribed the subscribers
may organize said company by the election of five direc-
tors, of whom they shall elect one as president, to remain in
office one year and until their successors are elected, un-
less sooner removed by‘the stockholders. After organi-
zation as aforesaid the stockholders at any general meet-
ing may change the number of directors, and may pro-
vide for the proper government of the corporation by such
by-laws as they may deem fit and proper, as herein above
authorized. The board of directors may appoint such sub-
ordinate agents and officers of the company as they may
deem necessary for the proper dispatch of the business of
the company.
4. The said company is hereby authorized to carry on the
business of mining and manufacturing any of the ores, min-
erals, metals, materials or products of this state, and may
conduct said business at one or more points in the county
of Amherst, and in any other counties of thisand other
states in which the said company may deem it proper to
acquire property or establish works for that purpose ; and
for these purposes the said company shall have authority
to buy, hold, sell, lease, or otherwise dispose of any real
or personal estate deemed necessary to the proper prosecu-
tion of its business, and may on any property so acquired
erect and maintain buildings, machinery and structures
needful for smelting, manufacturing and heating ores,
metals of whatever kind, or for the production of manu-
factured fabrics from wood, stone, metals, wool, cotton,
hemp or other materials, and may operate, lease, sell or
otherwise dispose of the same; and may, on its own land
contiguous or adjacent to any such manufactory or works
erected or to be erected, survey and lay out lots and
squares or other divisions of such lands and improve the
same by buildings or otherwise for sale, lease or other
disposition or use, and may establish such lawful rules
and regulations in the use thereof as the board of direc-
tors of said company may deem best to secure the comfort
and welfare of the occupants and others engaged or in-
terested in any manufactory or works there established or
to be established; and the said company may, in con-
nection with the use or improvements of any of its prop-
erties, make, build and operate any canals or waterways or
ramways or railways operated by horse or steam power,
1ot exceeding twenty miles in length; and for this pur-
yoOse, when necessary, may acquire by contract or by con-
iemnation such land or other property or rights of way
28 may be necessary therefor, proceedings for such con-
iemnation to be in accordance with the provisions of
shapter forty-six of the code of Virginia.
5. It shall be lawful for said company to sell its bonds
from time to time for said sums and on such terms as its
board of directors may deem expedient and proper in the
prosecution of any of its works or business, and it may
secure the payment of the principal and interest thereof
by mortgages or deeds of trust upon all or any of its prop-
erty, rights and franchises, including its franchise to be
a corporation; and it shall be Jawful for said company
to subscribe to and hold shares in the capital stock of any
railroad company or other corporation whenever the board
of directors shall deem it to be to its interest to do so.
Each stockholder in said company shall be entitled to one
vote for each share held by him, and no stockholder shall
be held individually liable for the acts or liabilities of the
company in any larger or further sum than tosuch amounts
as may be due and unpaid severally upon his stock sub-
scription.
6. The acceptance of this charter and organization there-
under shall be deemed a waiver by said company of any
right to pay taxes or dues or assessments hereafter made
from said company to the state of Virginia in coupons of
this state and shall be taken as an agreement on the
part of said company to pay all of said dues, taxes ‘and
assessments in lawful money of the United States.
7. This act shall be in force from its passage.