CHAP. 663.—An ACT to incorporate the Southwest mining, de-
velopment and construction company.

Approved March 8, 1892.

1. Be it enacted by the general assembly of Virginia,
That Charles Gallagher, J. N. Stubbs, William Campbell,
C. O. Swann, 8. D. Davis, A. R. Micou and Rush Taylor,
and their associates, or such of them as may accept the
provisions of this act, and such persons as may be here-
after associated with them, and their successors, be, and
they are hereby, constituted a body politic and corporate,
under the name and style of the Southwest mining, devel-
opment and construction company.

2. The said corporation may, by or under ite corporate
title, make and use a corporate seal, which it may alter or
renew at its pleasure, and may sue and be sued, plead and
be impleaded, contract and be contracted with, and make
by-laws and rules and regulations consistent with existing
laws of the state for the government of all under its au-
thority, the management of its estates and properties and
the due and orderly conduct of its affairs.

3. The capital stock of said company shall not be less
than fifty thousand dollars, and may be increased to any
amount not exceeding five million of dollars, by issue and
sale of shares thereof, not less than ten dollars each, from
time to time, under such regulations as the board of direc-
tors of said company shall from time to time prescribe;
and the directors may receive real or personal property in
payment for subscriptions to the capital stock, at such
valuation as may be agreed upon between the directors of
the said company and the subscribers.
4. The said company shall have power, and may pur-
chase, hold, grant, mortgage or otherwise dispose of real
and personal estate in this state or elsewhere. And the
Baid company shall have power and may lay out such lands
or any part thereof into parcels or lotsaf convenient size,
with intervening roads, lanes, streets and alleys, and de-
velop, improve, work, cultivate, sell, grant, mortgage or
otherwise dispose of the same, in such manner and upon
such terms as the said company may think proper; and
may contract for, construct, operate and maintain works
of public or private improvement: provided, however, that
nothing in this section shall be construed as exempting
said company from the provisions of the general laws of
the state relative to corporations.

5. The said company shall have power to search for and
develop stone quarries and mineral properties, to mine and
produce plumbago, kaolin and other earths useful for man-
ufacturing purposes coal, iron, lead, zinc, copper, asbes-
tos, mica, gold, silver and all other minerals, ores and
metals, the purchase and sale of the same, the working,
reduction, smelting and refining of the same, and the
erection of chemical works, and working of the same; also
the construction of railroads, tramways and telegraph
lines, connecting the mines or works of said company
with trunk lines of railroad and telegraph lines; and the
said company shall have power and may build and main-
tain pipe lines, water ditches, flumes and reservoirs, and
to draw water from any water-course adjacent to their
mines or works: provided they do not, in so doing, violate
the rights of any individuals or parties.

6. That for the purpose of constructing said railroads,
telegraph lines, pipe lines, water ditches, flumes and re-
servoirs, the said company shall have the right to enter
upon any lands over which said railroads, telegraph lines,
pipe lines, water ditches, flumes and reservoirs may pass
or should be located, for the purpose of surveying the
same and locating said railroads, telegraph lines, pipe
lines, water ditches, flumes and reservoirs, and to contract
with the owners of the said lands for the right of way for
any or all of the above-mentioned rights, and upon failure
of said company and the owners of said lands to agree
upon the price of said right of way, they shall proceed as
the law directs for the condemnation of lands.

7. For the construction and operation of the railroads,
telegraph lines, pipe lines, water ditches, flumes and reser-
voirs, the company shall have the right to issue bonds and
to secure the same by mortgage on the properties, rights
and franchises of the company, or any part thereof; to
issue preferred stock, to issue bonds secured by mortgage
convertible into preferred stock, or preferred stock con-
vertible into bonds secured by mortgage, and to exercise
all power necessary to the enjoyment of the franchises and
privileges herein granted.

8. It shall be lawful for the said company to guarantee
the interest or the principal and interest of bonds of any
mining or manufacturing company of this or adjoining
states, as well as to acquire and hold the shares of capital
stock of any such corporations.

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