CHAP. 122.—An ACT to incorporate the Alexandria and Fairfax
Agricultural and Industrial Association.

Approved February 27, 1879.

1. Be it enacted by the general assembly, That John B.
Smoot, James T. Beckham, John Perry, Edgar Snowden, Rob-
ert Portner, Philip B. Hooe, lenry Strauss, M. B. Harlow, and
Thomas Hay, of the city of Alexandria; and N. W. Pearson,
R. S. Roberts, Valentine Baker, C. Lukens, and John Ballen-
ger, of the county of Fairfax, and the other members of the
voluntary association known as the Alexandria and Fairfax
agricultural and industrial association, and all other persons
who may become associated with them under the provisions of
this act, be and they are hereby constituted a body politic and
corporate, by the name and style cf The Alexandria and Fair-
fax Agricultural and Industrial Association ; and as such shall
have perpetual succession and a common seal, which it may
alter or renew at pleasure, and may suc and be sued, plead and
be impleaded, contract and be contracted with, and make all
proper and needful by-laws, ordinances, and regulations not
inconsistent with the laws of the United States or of this com-
monwealth. ,

2. The purposes and object of the association shall be to
establish and conduct fairs and other exhibitions of agricul-
tural, horticultural, mining, and mechanical products as a
means of developing the resources of the commonwealth, and
of promoting and advancing all industrial pursuits. The
principal office of the association shall be kept, and its stock-
holders’ meetings, fairs, and exhibitions held at the city of
Alexandria.

8. The said association shall be entitled to take, by grant,
gift, devise, or bequest, and hold, real and personal property
in value not to exceed fifty thousand dollars.

4. The eapital stock of the association shall not be less than
two thousand dollars, nor more than fifty thousand dollars,
divided into shares of five dollars each, which shall be paid in
cash or instalments, as may be required by the by-laws; and
the personal liability of every and any stockholder for the debts
of the association shall be limited to the amount unpaid on the
shares of stock subscribed for by such stockholder. All cer-
tificates of stock shall be signed by the president, and counter-
signed by the treasurer and secretary of the association. Each
stockholder shall have one vote, in person or by proxy, in the
election of directors and at all meetings o. the stockholders for
each share of stock held by him.

5. The annual meetings of the stockholders shall be held at
such time as may be provided by the by-laws of the associa-
tion. If at any meeting of the stockholders there be present,
in person or by proxy, those who can give a majority of all the
votes which could be given by all the stockholders, the same
shall constitute a quorum fcr the transaction of business or
election of directors, and not otherwise.
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6. At the first meeting of the stockholders under this act,
and thereafter at their annual meetings, there shall be elected
fifteen directors who shall be stockholders. The voting for
directors shall be by ballot, and a majority of all the votes cast
shall be necessary to elect. The directors shall choose the
president, secretary, and treasurer of the association from
among their number, and shall appoint such other officials and
employees as they may deem necessary for the purpose of the
association, and fix their compensation. The board of direc-
tors, including the president, secretary, and treasurer, shall
have the management, superintendence, and control of the pro-
perty, atfairs, business, and concerns of the association; they
shall make the necessary arrangements for the stated fairs and
exinbitions of the association, and prepare and ordain schedules
of premiums to be awarded to exhibitors, and they shall an-
nually, or from time to time, as and when the income of the
association shall exceed all its debts and expenses, declare and
pay dividends out of the net profits of its fairs and exhibitions
to the stockholders upon the stock held by them.

7. No moneys shail be paid out for or on account of the as-
sociation, but upon the order of the board of directors, by check
or draft upon the treasurer, signed by the president and coun-
tersigned by the secretary.

8. The association hereby incorporated may take from John
B. Smoot, J. T. Beckham, and John Perry an assignment of a
lease heretofore made to them by William IH. Marbury, executor,
and so forth, and others, and the buildings and other structures
which have been erected by the voluntary association herein-
before mentioned upon the lands devised to the three persons
above named, shall, from the date of such assignment, become
the property of this corporation, subject to the provisions and
covenants of said lease.

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