Chap. 180.—An ACT to incorporate the Grayson telephone exchange.

Approved February 1, 1898.

1. Be it enacted by the general assembly of Virginia, That F. M.
Young, F. J. Lundy, J. A. Dickey, FE. L. Lundy, A. J. Koontz, H. H.
Todd, junior, W. G. Collins, Staley E. Young, and John B. Waugh,
and such other persons as they may associate with them, and their suc-
cessors be, and they are hereby, created and constituted a body corporate
by the name of the Grayson te lephone exchange, by which name it shal]
have perpetual succession, may sue and be sued, contract and be con-
tracted with, and shall have all the rights and privileges of a corporation
under the general laws of Virginia, including all such rights as by said
laws are eiven to telephone companies and other works of internal im-
provement, and he subject also to all the regulations and restrictions im-
posed by the laws of the state in relation to chartered companies.

2. The eapital stock of said company shall not be less than one thou-
sand dollars nor more than five thousand dollars, divided into shares of
fifty dollars each, and each share shall be entitled to one vote in every
meeting of the stockholders. It shall not be necessary to give any no-
tice of the openings of subscriptions to stock, but the same may be sub-
scribed in such manner and at such times as a majority of said corpora-
tion shall determine.
3. The officers of said company shall be a president, a secretary and
treasurer, and a board of directors of not less than five persons: pro-
vided, however, that the secretary and treasurer may be the same per-
son, and the officers may also be members of the board of directors.

4. The said company shall have power to erect and maintain poles
and wires along the public roads of Grayson and adjoining counties,
subject to the approval of the boards of supervisors and of the county
courts of said counties, respectively, and subject to the fee simple rights
of adjacent landowners. It shall also have power to acquire all estate
or easements necessary for the convenient erection and maintenance of
its lines, offices, and so forth, and for the general conduct of its busi-
ness.

5. The said company may acquire by purchase or lease any of the
property or rights of any other telephone company, and may make any
contract with any other such company consistent with the laws of this
state.

6. The said company, through its board of directors, shall have
power to make by-laws and regulations for its government not incon-
sistent with the laws of the state.

7. All taxes or demands due or to become due to the state of Virginia
from the said company shall be paid in currency and not in coupons.
The general assembly reserves the right to amend, alter or repeal this
charter.

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