Chap. 179.—An ACT to Incorporate The American and European Lan
Company.

Approved April 9, 1874.

1. Be it enacted by the general assembly of Virginia, Tha
William Johns, of Bristol, England; Henry C. Kauffman, o
Towa; John G. McFarlane, J. 8S. Burd, and J. C. Whiting, o
Minnesota; George P. Richardson, of Massachusetts; B. C
Heald, and Frederick Stalkchirect, of New York; C. E
McKay, of New Jersey; George Wharton, of Philadelphia
Pennsylvania; John Y. Worthington, O. W. Huntt, H. W
Thomas, and Reuben Wright, of Virginia; John Camall, o:
Arkansas, and C.J. Wright, of Texas, or such of them as
may accept of the provisions of this act, and such other per.
sons as may hereafter be associated with them, their successors
and assigns, be and they are hereby constituted a body cor.
porate and politic, to be known as The American and Euro.
pean Land and Emigrant Company; and by that name may
sue and be sued, plead and be impleaded in all the courts of
law and equity in this state and elsewhere ; May have per-
petual succession, may have, make and use a common seal,
and the same break, alter and renew or change at their plea-
sure ; may make, ordain, establish, alter, or amend such by-
laws, ordinances and regulations concerning and covering all
points of organization and business not herein specifically
provided for, as they may think wise; and generally may do
every act and thing necessary to carry into effect this act, or
to promote the objects and designs of the corporation: pro-
vided, that such by-laws, ordinances, regulations or acts be
not inconsistent with the laws of this state or of the United
States.

2. The objects of this company are to emigrate persons
rom our older, thickly settled States, and from the various
ountries of Europe, and permanently locate and settle them
mn the cheaper and richer lands west and south, and to this
nd, to buy for cash or otherwise in large quantities, good.
tilable and grazing, improved or unimproved lands, in Vir-
ginia and other states, from Texas to Minnesota; to offer said
lands immediately for sale at cheaper rates to persons or par.
ties in this and the countries of Europe, who wish to secur
homes of their own, and to sell in such quantities and or
‘such terms as to enable and induce persons of small means t
buy and secure land, and to settle homes of their own, inde
pendent and free of others. Also to contract with steamshi
-and railroad companies for the transportation of emigrant
and colonies, and with individual emigrants to be transporte:
and emigrated, so as to be able to accompany and emigrat:
in a comfortable manner, persons and parties, or colonies wh:
buy land, or who wish to settle on government land, and t
see them safely from their starting point to the tracts of lan¢
they buy, and thus save and protect them from all the risk:
and annoyances incident to the inexperienced or a long trans
Atlantic and railroad trip.

3. The capital stock of said company shall not be less thar
five thousand dollars, which may be increased, from time <¢
time by the company, to a sum not exceeding one hundred
times that amount. Said stock to be divided into shares ot
one hundred dollars each, and at all meetings of the stock-
holders, each share shall be entitled to one vote, which may
be given by the holder thereof, or by proxy..

4. The corporators named in the first section of this act
are hereby appointed and made commissioners (any two or
more of whom may act) to receive subscriptions, who may,
at such times and places, and in such manner as they may
deem necessary or expedient, open books for subscription for
stock, money, or lands, improved or unimproved, as they may
deem wise, expedient, or necessary to acquire for the pur-
poses of the company, and the same shall become part of the
stock of this company. The said commissioners shall keep
the beoks open until they or other persons shall have sub-
scribed the minimum amount of capital stock named; except
when land or property is subscribed and received, ten dollars
per share shall be paid in on each share subscribed before the
company shall commence business; the remaining instalments
may be called in from time to time, as may be required, by
the board of directors.

5. When five thousand dollars shall have been subscribed,
put in, and received or acquired as aforesaid, the company
may, at their discretion, call a meeting of the stockholders,
who may proceed fully to organize the company, by electing
five directors, which said board of directors, or a majority of
them in meeting assembled, shall manage and control all the
business and affairs of said company, and shall choose a presi-
dent and vice-president out of their own number, and may
appoint a secretary and treasurer and such other officers or
agents as their by-laws may direct; and said directors, ora
majority of them, shall have power to fill any vacancies in
their number.
6. The officers shall hold their offices until their successors
are appointed or chosen and qualified. .

7. The principal office of said company shall be in the
county of Fairfax, in the state of Virginia, and they may
establish other offices at such points within or beyond the
limits of this state as its business may require. .

8. Said company may employ one or more agents to buy or
sell their properties, and do any other business for the com-
pany required by the board of directors, and pay said agent
or agents a salary or a commission.

9. The said company shall have the privilege of selling
their lands or improvements thereon, on such terms as may
be agreed upon, and may take notes or bonds and deeds of
trust of individuals or corporations therefor, bearing any
rate of interest legal where the transaction is had, and said
interest may be received in advance.

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