Chap. 1.—An ACT to incorporate the Virginia Coal and Iron Company.
Approved January 6, 1882.

1. Be it enacted by the general assembly, That John Leis-
enring, E. K. Hyndman, Samuel Dixson, John S. Wentz, M.
S. Kemmerer, Edward B. Leisenring, George W. Miller,
George S. Wentz, Daniel Bertsch, John C. Bullitt and A. W.
Leisenring, or such of them as may accept the provisions of
this act, their associates and successors, be and they are
hereby incorporated and made a body politic and corporate,
under the name and style of The Virginia Coal and Iron
Company; and by that name shall be known in law, and
shall have perpetual succession, and have power to sue and
be sued, plead and be impleaded, defend and be defended in
all courts, whether in law or equity, and may make and
have a common seal, and alter or renew the same at pleas-
ure; and shall have, enjoy, and exercise all the rights, pow-
ers, and privileges pertaining to corporate bodies, and neces-
sary tor the purposes of this act; and make by-laws, rules,
and regulations consistent with existing laws of the state,
for the government of all under its authority, the manage-
ment of its estates and properties, and the due and orderly
conduct of its affairs.

2. The capital stock of said) company shall not be less
than fifty thousand dollars, and may be increased to any
amount not exceeding five million dollars, by issue and sale
of shares thereof, not less than ten dollars each, from time
to time, under such regulations as the board of directors of
said company shall, from time to time, prescribe; and the
directors may receive real or personal property in payment
fur subscriptions to the capital stock, at such valuation as
may he agreed upon between the directors and the sub-
scriber.

3. The said company is authorized and empowered to pur-
chase, hold, own, lease and control in any manner, grant,
bargain, sell, mortgage, convey, and otherwise dispose of real
and personal estate in this state or elsewhere; and the said
company is authorized and empowered to lay out said lands,
or any part thereof, into parcels or lots of convenient size,
with intervening roads, lanes, streets, and alleys, and develop,
work, improve, and cultivate, or otherwise dispose of the
same, in such manner and upon such terms as the said com-
pany may think proper; and may contract for, purchase,
ease, hold, construct, operate, and maintain any work of
public or private improvement, in this state or elsewhere,
with the right and power of laying out, constructing, and
operating any railroad or railroads, or other road, from any
of the lands or works of said eompany to any point on the
Norfolk and Western railroad, the Bristol coal and iron narrow
guage railroad, or any other railroad that is now or may
ereafter be constructed in or through the counties of Lee,
Wise, Buchanan, Dickenson, Scott, Russell, Tazewell, and
Washington: provided, however, that nothing in this section
shall be construed as exempting the said company from the
provisions of chapter sixty-one of the Code of eighteen hun-
red and seventy-three, if it shall engage in constructing or
operating any work of internal improvement in this state.

4. The said company is authorized and empowered to mine
and quarry coal, iron ore, marble, and other mineral sub-
stances, and prepare and manufacture the same for use and
sale in all manner of forms it may adopt; and to manufac-
ture and prepare for market and sale, all other raw materials,
mineral or vegetable, produced by its own lands or obtained
from others; and for this purpose may erect and operate all
kinds of furnaces, mills, manufactories, coke-ovens, works,
and machinery necessary for the enjoyment of the privileges
herein granted to the fullest and most ample extent. The
said company shall have power and may manufacture, pur-
chase, sell, ship, and deal in goods, wares, and merchandise;
and may contract for, build and maintain pipe-lines, ware-
houses, and elevators, and may store goods, wares, and mer-
chandise, and grant certificates therefor, in such form and
under such rules and regulations as the said company may,
from time to time, by by-laws, prescribe; and to transport
goods, wares, and merchandise, either by land or water.

5. The nine persons first named in this act shall constitute
the first board of directors of the said company, and shall
continue in office until the first meeting of the stockholders
thereof. At such first meeting, and at every annual meet-
ing, 80 many directors shall be elected as may be prescribed by
the by-laws and regulations of said company; who may be re-
moved by the stockholders in general meeting; but unless so
removed, shall continue in office until their successors shall
be elected and qualified. Each stockholder in the company
shall at all meetings, or elections thereafter, be entitled to one
vote for each share of stock registered’ in his name.

6. The board of directors shall be stockholders of said com
‘pany. They shall appoint one of their number president
and may fill any vacancy that may occur in said board, unles:
by removal; in which case, the same shall be filled by the
stockholders in general meeting. Whenever the minimun
‘amount of ca ital stock herein named shall have been sub

scribed, and the board of directors shall have elected a presi

Google
dent, said company shall be considered legally organized and
mav proceed to the transaction of business. The board shall
appoint, to hold during its pleasure, the subordinate officers
and agents of the said company, prescribe their compensa-
tions. and take from them such bonds, with such security, as
they may deem fit.

‘. The board of directors may establish offices and agen- c
cies at such places as they may deem proper, but the princi- }
pal office of the company shall be located at some point
within the limits of the state of Virginia. ’

& The annual meeting of the stockholders of the said 1
company shall be held at Alexandria, in Alexandria county, }
Virginia, on the first Wednesday of February of each year,
or on such other day, and at such other place, as the stock-
holders may, by resolution adopted in any annual meeting to
take effect at the next annual meeting, prescribe. A gen-1
eral meeting of the stockholders of said company may be §
held at any time, as provided for by the tenth section of
chapter fifty-seven of the Code of Virginia, edition of eigh-
teen hundred and seventy-three.

9. The said company shall issue certificates of stock in c
said company to the subscribers thereof, in shares of not less ¢,
than ten dollars each, signed by the president and counter- s
signed by the secretary of said company. The said certifi- ,
cates shall be transferable only upon the books of the com- t
pany by the said subscribers, their personal representatives,
or duly authorized agent or attorney; and the said certifi-
cates, when so tranaferred as aforesaid, may be returned to
the said company and cancelled, and new certificates of stock
shall be issued in lieu thereof to the person entitled thereto
for a like number of shares. .

10. It shall be lawful for said company to issue and sell its »
bonds from time to time, for such sums, and on such terms, *
as its board of directors may deem expedient and proper in
the prosecution of any of its works; and to secure the pay- »
ment of said bonds by mortgages or deeds of trust upon allt
or any portion of its property and franchises, including its e
franchise to be a corporation; and it shall be lawful for said
company to guarantee the payment of the interest, or prin-
cipal and interest, of any bonds, or any other evidences of
indebtedness that may be issued by any railroad company,
or other incorporated company, or subscribe to and hold
shares in the capital stock of any such company, whenever
the board of directors of the Virginia coal and iron company
ehall deem it to its interest so to do.

11. No stockholder in said company shall ever be held lia-s
ble or made responsible for its debts and liabilities in a larger fF
or further sum than the amount of any unpaid balance fue t
to the said company for stock subscribed for by said stock- t
holder. 8

12. Whenever this corporation shall exercise any of the 7
privileges conferred by this act, it shall be liable to the same &
taxes as may be imposed by law upon other like corporations r

or persons exercising like privileges. }
13. The charter hereinbefore granted, except as to matters
herein otherwise specially orovicied for, is hereby declared to
be subject to the provisions of the general law in regard to
chartered companies and corporations, as expressed in the
Code of Virginia, edition of eighteen hundred and seventy-
three, chapters fifty-six, fifty-seven, fifty-eight, fifty-nine, and
sixty-one.

14. This act shall be in force from its passage, but the gen-
eral assembly of the state of Virginia reserves to itself the
right to modify, alter, or repeal this act at any time here-
after.

Chap. 1.—JOINT RESOLUTION directing the publication of the
Acts of the late and present sessions in one volume.

Approved March 25, 1882.

Resolved (the house of delegates concurring,) That the
superintendent of public printing be directed to have the
acts and joint resolutions of the late and present sessions
published and bound together in one volume.

Chap. 1.—An ACT to incorporate the Virginia Coal and Iron Company.
Approved January 6, 1882.

1. Be it enacted by the general assembly, That John Leis-
enring, E. K. Hyndman, Samuel Dixson, John S. Wentz, M.
S. Kemmerer, Edward B. Leisenring, George W. Miller,
George S. Wentz, Daniel Bertsch, John C. Bullitt and A. W.
Leisenring, or such of them as may accept the provisions of
this act, their associates and successors, be and they are
hereby incorporated and made a body politic and corporate,
under the name and style of The Virginia Coal and Iron
Company; and by that name shall be known in law, and
shall have perpetual succession, and have power to sue and
be sued, plead and be impleaded, defend and be defended in
all courts, whether in law or equity, and may make and
have a common seal, and alter or renew the same at pleas-
ure; and shall have, enjoy, and exercise all the rights, pow-
ers, and privileges pertaining to corporate bodies, and neces-
sary tor the purposes of this act; and make by-laws, rules,
and regulations consistent with existing laws of the state,
for the government of all under its authority, the manage-
ment of its estates and properties, and the due and orderly
conduct of its affairs.

2. The capital stock of said) company shall not be less
than fifty thousand dollars, and may be increased to any
amount not exceeding five million dollars, by issue and sale
of shares thereof, not less than ten dollars each, from time
to time, under such regulations as the board of directors of
said company shall, from time to time, prescribe; and the
directors may receive real or personal property in payment
fur subscriptions to the capital stock, at such valuation as
may he agreed upon between the directors and the sub-
scriber.

3. The said company is authorized and empowered to pur-
chase, hold, own, lease and control in any manner, grant,
bargain, sell, mortgage, convey, and otherwise dispose of real
and personal estate in this state or elsewhere; and the said
company is authorized and empowered to lay out said lands,
or any part thereof, into parcels or lots of convenient size,
with intervening roads, lanes, streets, and alleys, and develop,
work, improve, and cultivate, or otherwise dispose of the
same, in such manner and upon such terms as the said com-
pany may think proper; and may contract for, purchase,
ease, hold, construct, operate, and maintain any work of
public or private improvement, in this state or elsewhere,
with the right and power of laying out, constructing, and
operating any railroad or railroads, or other road, from any
of the lands or works of said eompany to any point on the
Norfolk and Western railroad, the Bristol coal and iron narrow
guage railroad, or any other railroad that is now or may
ereafter be constructed in or through the counties of Lee,
Wise, Buchanan, Dickenson, Scott, Russell, Tazewell, and
Washington: provided, however, that nothing in this section
shall be construed as exempting the said company from the
provisions of chapter sixty-one of the Code of eighteen hun-
red and seventy-three, if it shall engage in constructing or
operating any work of internal improvement in this state.

4. The said company is authorized and empowered to mine
and quarry coal, iron ore, marble, and other mineral sub-
stances, and prepare and manufacture the same for use and
sale in all manner of forms it may adopt; and to manufac-
ture and prepare for market and sale, all other raw materials,
mineral or vegetable, produced by its own lands or obtained
from others; and for this purpose may erect and operate all
kinds of furnaces, mills, manufactories, coke-ovens, works,
and machinery necessary for the enjoyment of the privileges
herein granted to the fullest and most ample extent. The
said company shall have power and may manufacture, pur-
chase, sell, ship, and deal in goods, wares, and merchandise;
and may contract for, build and maintain pipe-lines, ware-
houses, and elevators, and may store goods, wares, and mer-
chandise, and grant certificates therefor, in such form and
under such rules and regulations as the said company may,
from time to time, by by-laws, prescribe; and to transport
goods, wares, and merchandise, either by land or water.

5. The nine persons first named in this act shall constitute
the first board of directors of the said company, and shall
continue in office until the first meeting of the stockholders
thereof. At such first meeting, and at every annual meet-
ing, 80 many directors shall be elected as may be prescribed by
the by-laws and regulations of said company; who may be re-
moved by the stockholders in general meeting; but unless so
removed, shall continue in office until their successors shall
be elected and qualified. Each stockholder in the company
shall at all meetings, or elections thereafter, be entitled to one
vote for each share of stock registered’ in his name.

6. The board of directors shall be stockholders of said com
‘pany. They shall appoint one of their number president
and may fill any vacancy that may occur in said board, unles:
by removal; in which case, the same shall be filled by the
stockholders in general meeting. Whenever the minimun
‘amount of ca ital stock herein named shall have been sub

scribed, and the board of directors shall have elected a presi

Google
dent, said company shall be considered legally organized and
mav proceed to the transaction of business. The board shall
appoint, to hold during its pleasure, the subordinate officers
and agents of the said company, prescribe their compensa-
tions. and take from them such bonds, with such security, as
they may deem fit.

‘. The board of directors may establish offices and agen- c
cies at such places as they may deem proper, but the princi- }
pal office of the company shall be located at some point
within the limits of the state of Virginia. ’

& The annual meeting of the stockholders of the said 1
company shall be held at Alexandria, in Alexandria county, }
Virginia, on the first Wednesday of February of each year,
or on such other day, and at such other place, as the stock-
holders may, by resolution adopted in any annual meeting to
take effect at the next annual meeting, prescribe. A gen-1
eral meeting of the stockholders of said company may be §
held at any time, as provided for by the tenth section of
chapter fifty-seven of the Code of Virginia, edition of eigh-
teen hundred and seventy-three.

9. The said company shall issue certificates of stock in c
said company to the subscribers thereof, in shares of not less ¢,
than ten dollars each, signed by the president and counter- s
signed by the secretary of said company. The said certifi- ,
cates shall be transferable only upon the books of the com- t
pany by the said subscribers, their personal representatives,
or duly authorized agent or attorney; and the said certifi-
cates, when so tranaferred as aforesaid, may be returned to
the said company and cancelled, and new certificates of stock
shall be issued in lieu thereof to the person entitled thereto
for a like number of shares. .

10. It shall be lawful for said company to issue and sell its »
bonds from time to time, for such sums, and on such terms, *
as its board of directors may deem expedient and proper in
the prosecution of any of its works; and to secure the pay- »
ment of said bonds by mortgages or deeds of trust upon allt
or any portion of its property and franchises, including its e
franchise to be a corporation; and it shall be lawful for said
company to guarantee the payment of the interest, or prin-
cipal and interest, of any bonds, or any other evidences of
indebtedness that may be issued by any railroad company,
or other incorporated company, or subscribe to and hold
shares in the capital stock of any such company, whenever
the board of directors of the Virginia coal and iron company
ehall deem it to its interest so to do.

11. No stockholder in said company shall ever be held lia-s
ble or made responsible for its debts and liabilities in a larger fF
or further sum than the amount of any unpaid balance fue t
to the said company for stock subscribed for by said stock- t
holder. 8

12. Whenever this corporation shall exercise any of the 7
privileges conferred by this act, it shall be liable to the same &
taxes as may be imposed by law upon other like corporations r

or persons exercising like privileges. }
13. The charter hereinbefore granted, except as to matters
herein otherwise specially orovicied for, is hereby declared to
be subject to the provisions of the general law in regard to
chartered companies and corporations, as expressed in the
Code of Virginia, edition of eighteen hundred and seventy-
three, chapters fifty-six, fifty-seven, fifty-eight, fifty-nine, and
sixty-one.

14. This act shall be in force from its passage, but the gen-
eral assembly of the state of Virginia reserves to itself the
right to modify, alter, or repeal this act at any time here-
after.

Chap. 1.—JOINT RESOLUTION directing the publication of the
Acts of the late and present sessions in one volume.

Approved March 25, 1882.

Resolved (the house of delegates concurring,) That the
superintendent of public printing be directed to have the
acts and joint resolutions of the late and present sessions
published and bound together in one volume.