Chap. 118.—An ACT to incorporate the Hooven mercantile company.

Approved February 1, 1894.

1. Be it enacted by the general assembly of Virginia, That George
W. Hooven, Rollin O. Hooven, Wilbur T. Hooven, Robert L. Hooven
and Elmer E. Hassau, or such of them as may accept the provisions
of this act, their associates, successors and assigns, be, and they are
hereby, incorporated and made a body politic and corporate under
the name and style of the Hooven mercantile company, and by that
name shal] be known in law, and as such are authorized and empow-
ered to locate, maintain and operate places of business in the various
cities and towns of any of the states and territories of the United
States, and in foreign countries, for the purpose of manufacturing
and dealing in grocers’ sundries, food products, or any other articles
usually kept by grocers and general stores; and for these purposes
the said company shall have authority to buy, hold, sell, lease or oth-
erwise dispose of any real or personal estate deemed necessary to the
proper prosecution of its business, and may erect and maintain build-
ings thereon; and the said company shall have authority to locate,
construct, equip and operate lateral or branch railroads, not to ex-
ceed ten miles in length, for the purpose of transporting its mer-
chandise to and from its storage or warehouses, and may connect the
same with that of other railroads: provided said company shall not
have power to condemn land.

2. The said company shall have perpetual succession, and have
power to sue and be sued, make contracts and be contracted with,
plead and be impleaded, defend and be defended in all courts, whether
at law or in equity; and shall make and have a common seal, and
alter or renew the same at pleasure; and shall have, possess and en-
joy all the rights and privileges of a corporation or body politic in
the law, and necessary for the purposes of this act.

3. The capital stock of this company shall be one hundred thou-
sand dollars, divided into shares of one hundred dollars each, but
the capital stock may be increased by the board of directors from
time to time to an amount requisite for the purpose of the company,
and they shall have authority to issue both preferred and common
stock, said preferred stock to have a preference both as to principal
and dividends.

All shares shall be fully paid, and non-assessable, entailing no
personal liability, and the directors may receive cash, services, mer-
chandise, real and personal property suited to the business of said
company, in payment of subscriptions to the capital stock, at such
valuations as may be agreed upon between the directors and the sub-
scribers.

4. The persons first named in this act, or such of them as shall
accept the provisions thereof, shall have the power and authority of
a board of directors for the purpose of organizing and all ether
purposes; they shall constitute the board of directors for the first
year, and shall continue in office until their successors shall be
elected and qualified. Each stockholder of the company shall at
all meetings and elections be entitled to one vote for each share of
stock registered in his name.

5. The board of directors shall be stockholders of said company.
They shall appoint one of their number president, and may appoint
such subordinate officers and agents of the company as they may
deem necesgary for the proper dispatch of the business of the com-
pany, prescribe their compensation and take from them such bonds
of security as they may see fit, and may fill any vacancy that may
occur in said board, unless by removal, in which case the same shall
be filled by the stockholders in general meeting. After organizing
as aforesaid, the stockholders, at any general meeting, may increase
the number of directors, and may provide for the proper govern-
ment of the corporation by such by-laws as they may deem fit and
proper, not to conflict with the laws or constitution of this state
or of the United States.

6. And it shall be lawful for said company to subscribe to and
hold shares in the capital stock of any storage or warehouse com-
pany, whenever the board of directors shall deem it to be to its best
interest to do so.

7. Offices of the company may be located in any of the states
or territories of the United States, or in foreign countries, but the
board of directors shall locate the principal office at some point
within the limits of the state of Virginia.

8. All taxes and debts due and to become due to the common-
wealth by said company, shall be paid in lawful money of the United
States.

9. The general assembly reserves the right to amend, alter or re-
peal this charter at any time.

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