Chap. 60.—An ACT to incorporate the Bangens TWyaiatlic Mining
and Manufacturing Company.

Approved February 1, 1879,

1. Be it enacted by the general assembly of Virginia, That
Walter Doty, of New York; F. {f. Frankenburg, of Virginia ;
Anson Bangs, of New York, and such other persons as may be
hereafter associated with them, shall be and are hereby incor-
porated, by the name and style of The Bangens Ilydraulic
Mining and Manufacturing Company, for the purpose of mining
iron, copper, or other ores, transporting and selling the same,
and of working the same into pig, bar iron and steel, or other-
wise; and also for the purpose of manufacturing cotton and
woolen goods, in all their various forms, and other articles of
usefulness ; to transport and sell the same, and are hereby in-
vested with all the rights and privileges, and subject to all the
rules, regulations and restrictions (consistent with this act),
contained in the Code of Virginia, in relation to such eorpora-
tions; and are also hereby authorized to construct and main-
tain a suitable dam for hydraulic purposes, at or below the forks
of the Rappahannock and Rapidan rivers, on condition that
said dam shall be constructed and forever provided with a shoot
or sluice, not exceeding a pitch or grade of twenty-five degrees,
and of sufficien’ length to strike the water on the lower side of
the dam; the construction of said sluice or shoot to be upon
the most approved plan, and with a sufficient number of rests
to secure the easy passage of fish through the dam; and of tim-
bers sufficiently strong to render itas permanent as practicable :
and, provided further, that the operations of said company shall
be commenced within two years from the passage of this act
and be vigorously prosecuted.

2. That said company shall have the right to acquire, hold,
use, possess and enjoy by purchase, gift, demise, trust, or other
legal means, estate, real, personal and mixed, and the same
may sell, alien, grant, lease and convey, so that the lands held
by them, in fee or otherwise, shall not exceed at any one time
ten thousand acres; and the company shall have power to make
and use a common seal, and the same to change at will, and to
have all such other powers, rights and privileges as are neces-
sary and proper for them to have and possess as an incorpo-
rated company, subject to the restrictions of the provisions of
this act.

3. That said company shall have power to operate and work
in the counties of Stafford, Spotsylvania, Fauquier, Orange,
and Culpeper, and that any of the corporators may put into the
capital steck of said company any lands owned by them in any
of said counties, to be held in fee simple by said company.

4, The capital stock of said company shall not be less than
fifty thousand dollars, nor more than two millions of dollars, to
be divided into shares of fifty dollars each, and when fifty
thousand dollars have been subscribed or put in, or acquired,
as aforesaid, the company may organize by appointing five or
more directors, or may organize when fifty thousand dollars of
the capital stock has been subscribed and five per centum in
money paid in.

5. ‘That the said company, after being duly organized, are
hereby authorized to purchase from the board of public works,
and the board of public works be and they are hereby author-
ized to sell to said company the state’s interest in the canal
property of the Rappahannock company, from and including
the junction of the Rappahannock and Rapican rivers, to and
including Scott’s dam, on such terms as to price as may be
mutually agreed upon, and whatever sum is agreed upon shall
be paid to the <tate in bonds known as consol bonds. On said
payments being made, said company shall become invested
with all the rights, title and interest of the state to the same,
with the right to enlarge or modify the canal and dams, so as
to make them more advantageous for hydraulic purposes.

6. The president and directors of said company may enact
such by-laws and regulations for the management of the affairs
of said company as they may deem expedient, the same being
consistent with the constitution and laws of this state and of
the United States.
7. That the shares of said company shall be deemed persona
property, and assignable as such on the books of said company,
under such rules and regulations as may be prescribed by the
directors, who shall have power from time to time to increase
the capital stock of said company, so that it shall not exceed
two millions of dollars as aforesaid.

8. The directors, when elected, shall have power to designate
the place or places where the office or offices of said company
shall be located. .

9, This act shall be in force from and after its passage, and
shall be liable to amendment or repeal at the pleasure of the
general assembly.