Chap. 376.—An ACT to charter the Virginia coal and coke company.

Approved February 23, 1894.

1. Be it enacted by the general assembly of Virginia, That John
C. Haddock, George W. Shonk, E. B. Arnold, Ware B. Gay and John
T. Jones, and their associates and successors, be, and they are hereby,
constituted and made a body corporate and politic by the name and
style of the Virginia coal and coke company, and by that name and
style shall have all the rights, powers and privileges conferred by, and
be subject to all the provisions of chapters forty-six, forty-seven and
fifty-one of the code of Virginia of eighteen hundred and eighty-
seven, so far as the same may be applicable to and not inconsistent
with this act.

2. The capital stock of said company shall not be less than one
hundred thousand dollars nor more than one million dollars, and
shall be divided into shares of one hundred dollars each.

3. The board of directors of said company may from time to time
increase the capital stock until the said maximum is reached, and
for that purpose may issue shares of stock, and may, in their dis-
cretion, receive pay for such shares in property or money, or may
issue shares of stock from time to time to represent enhanced values
of its property.

4. The annual meeting of the stockholders of the said company
shall be held in the city of Richmond, Virginia, on the second Mon-
day in March in each year, or at such other time or place as the
stockholders in general meeting may appoint; and in all meetings
of stockholders one vote may be cast, in person or by proxy, for each
share of stock by the holder therof.

5. The board of directors shall consist of five members, who shall
from their number choose a president; but the stockholders at any
general meeting shall have the power to increase the number of
directors.

6. Until the first general meeting of the stockholders, to be held
in the city of Richmond, Virginia, on the second Monday in March,
eighteen hundred and ninety-four, the said John C. Haddock, George
W. Shonk, E. B. Arnold, Ware B. Gay and John T. Jones shall be
the directors of the said company, with power to choose from their
number a president, and to discharge all the duties of directors of
the said company, including the collection, through such officers as
they may appoint, of the said minimum amount of capital stock in
money or in property, at agreed prices.

7. The said company shall keep its principal office in the city of
Richmond, Virginia, or at such other place in the state of Virginia
as may at any time be fixed by the stockholders in general meeting,
and shall have the right and power to engage in any mining, trading
or carrying business, and in erecting suitable means and appliances
for all water supplies in connection with said properties; may dis-
count paper, borrow or lend money on mortgage or other security ;
strictly in line of its business; may buy, sell, lease, improve, develop,
work or manage mineral or other properties, and prepare products
thereof for market and sell the same; may purchase, hold, grant,
mortgage or otherwise dispose of real or personal property in this
city or elsewhere as may be necessary for the proper conduct of its
business: provided that not more than five thousand acres of land
be at any one time owned in any one county of Virginia; make,
contract for, construct, operate and maintain, in promotion of its
general business, tramways, railroads and other roads by making
due compensation for land used, and may have right of condemna-
tion according to the general law of this state; may connect by rail-
roads the different works or properties which it may own or acquire,
and also with the lines of other railroads now or hereafter con-
structed in this state, such connecting roads to be constructed, ope-
rated and maintained in all respects pursuant to the laws of the
state of Virginia in reference to works of internal improvement:
provided, however, that no railroad in this state of a greater length
than twenty miles shall be constructed without a special act author-
izing it.

8. All taxes and demands which may become due from the said
company to the state of Virginia shall be paid in lawful money of
the United States, and not in coupons.

9. This charter shall be liable to amendment, alteration or repeal
at any time hereafter by the general assembly of Virginia.

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