CHAP. 97.-An ACT to incorporate the Gld Dominion Tidewater
Improvement Company.

Approved April 2, 1879.

{. Be if enacted by the gecneral assembly of Virginia, That
Henry S. Reynolds, C. W. Grundy, A. B. Cooke, Washington
Reed, J. Cary Weston, Wiiiam D. Reynolds, B. k. Tebault,
George R. Drummond, and R, B. Cooke, or any three of them,
and all persons who may hereafter be associated with them, and
their successors, are hereby created and declared a body politic
and corporate, under the naine and style of The Old Dominion
Tidewater Lnprovement Company.

2. The said company shall have power and authority to
acquire by purchase, grant or gift sueh waste and unimproved
low lands, marshes, or lands covered with water, as they may
desire to improve (provided the same does not conflict with the
laws of Virginia or of the United States), and may convey the
same as they may deem necessary, and may build such wharves,
docks, and warehouses as they may require.

&. The capital stock of said company shall be ten thousand
dollars, which may be increased by said company to a sum
not exceeding five hundred thousand dollars. So soon as the
capital stock shall he subscribed and five per centum thereof
paid in cash, it shall be lawful for the said company to organ-
ize and commence business. The said capital stock shall be
divided into shares of one hundred dollars cach, and shall be
transferable as may be prescribed by the by-laws of the com-
pany. and each share shall be entitled to one vote in all meet-
ings of the stockholders. .

4, The said company shall have all the general powers, and
be subject to all the general restrictions conferred or imposed
on corporations generally by the laws of Virginia, save so far as
the same shall conflict with the provisions of this act.

5. It shail be lawful for the company from time to time to

borrow such sums of money us they may require to prosecute
their improvements, and to issue their promissory notes or
bonds for the amounts so borrowed; and they may mortgage,
pledge, or hypothecate by deed of trust any part of their cor-
porate property and franchise to secure the payment of such
notes or bonds.

6. The stockholders in general meeting shall make and estab-
lish such by-laws, rules and regulaticns, not inconsistent wie’
the laws of the state of Virginia or of the United States,
they inay <leem proper for the management and control of their
affairs snd business, and government of their officers, agents,
clerks, and other employees, which shall be binding on them-
selves and all persons in the employment of the company.

7. This act shall be in force fiom its passage.