CHAP. 24.—An ACT to incorporate the Virginia and North Carolina
Mining and Transportation Company.

Approved February 2, 1880.

1. Be it enacted by the general assembly of Virginia, That it
shall be lawful for the following named persons, namely: Jason
W. Mixter, E. L. Edes, John C. Hart, Thomas Jones and W.
T. Hart, and such persons as hereafter may be associated with
them, be and they are hereby created and incorporated and
made a body politic and corporate under the name and style
of The Virginia and North Carolina Mining and Transporta-
tion Company, for the purpose of mining, transporting and
manufacturing iron ore, coal, limestone, zinc or any ores in the
counties of Pulaski, Wythe, Carroll or Grayson, and with the
privilege and right to make or assist other joint stock compa-
nies or corporations or association of individuals in making
roads, tramways or railroads from their mines by the most
practicable routes to intersect the Atlantic, Mississippi and
Ohio railroad at or west of Martin’s station: provided hereby,
no road, tramway or railroad shall exceed eighty miles in length.
And the Virginia and North Carolina Mining and Transporta-

tion company may, for the purpose indicated, subscribe to, pur- —

chase or hold shares in the capital stock of any company, or
corporation or association of individuals now in existence or
which may hereafter be formed for building any such roads,
tramways or railroads. And the said company shall have all
the facilities necessary and essential to carry on its operations
in accordance with the general laws on such subjects, and shall
be subject to all the provisions and restrictions contained in
the Code of eighteen hundred and seventy-three, governing
joint stock companieg.

2. Be it enacted, That the capital stock of said company
shall not exceed five hundred thousand dollars and shall not
be less than fifty thousand dollars, in shares of one hundred
dollars each; books of subscrption to be opened at such times
and places as any three or more of said persons may designate,
and the three or more corporators hereinbefore mentioned may
organize the company by electing a president and board of
directors and appoint such officers as may be necessary for the
management of the company’s affairs.

3. Be it enacted, That the board of directors of said com-
pany shall have power to issue bonds in sums of not less than
fifty dollars each, and bearing interest not exceeding six per
centum, payable at such time and place as may be most ad-
vantageous to said company, and may secure the same by one
or more mortgages on the road, franchises, incomes and real
or personal property of the company. And the said company
shall have authority to purchase and hold land not exceeding
fifty thousand acres, and may sell, convey, lease or encumber
the same.

4, This act shall be in force from its passage.