Chap. 425.—An ACT to authorize the Piedmont construction and improvement
company to reduce the subscriptions to its capital stock and sell its stock at
such price as its directors may prescribe.

Approved February 27, 1894.

1. Be it enacted by the general assembly of Virginia, That the
ard of directors of the Piedmont construction and improvement
ompany, a corporation chartered by an act of the general assembly,
pproved March first, eighteen hundred and ninety, be, and they
lereby are, authorized and empowered, by and with the consent of
1 the stockholders of said company and all existing creditors
hereof, to declare all the existing subscriptions to the stock of said
ompany to be fully discharged by the payment of fifty per centum
yf such subscriptions, and to release the subscribers to said stock
rom the payment of anything over and above said fifty per centum,
1nd when such fifty per centum shall be paid on said subscriptions,
ertificates for said stock as fully paid may be issued to the holders
hereof.

And by and with the consent of the stockholders of said company,
ziven in general meeting, said board of directors may sell any stock
of the said company, to be hereafter issued or subscribed for, at such
price as the said board of directors may from time to time prescribe.

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