Chap. 262.—An ACT to incorporate the Nelson Manufacturing Com-
pany.

Approved March 4, 1884.

1. Beit enacted by the genera! assembly of Virginia, That
John N. Wheeler, James Brent, J. T. Brown, Willis H.

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Dillard, T. P. Fitzpatrick, Taylor Berry, E. W. Goodwin, N.
A. Mitchell, W. C. Fitzpatrick, and such others as they may
associate with them, be and they are hereby declared a bod
poitic and corporate by the name and style of the Nelson

anufacturing Company, and as such shall have perpetual
succession and a common seal, which it may renew or alter
at pleasure, and may sue and be sued, plead and be impleaded,
contract and be contracted with, make ordinances, by-laws
and regulations not inconsistent with the provisions of this
act, or other laws of this state or of the United States, for
the government of its officers and agents and the proper con-
duct of its affairs.

2. The capital stock of the company shall not be less than
five thousand dollars, nor more than one hundred thousand
dollars, to be divided into shares of one hundred dollars each,
to be subscribed for under the direction of the persons here-
inbefore named, or of such agent or agents as they or the
company hereby incorporated may hereafter appoint. The
office of the company shall be at Tye river or Arrington.

3. When the minimum amount of stock shall have been
subscribed, a meeting of the stockholders may be called, and
if a majority of the stock be represented in person or by
proxy, a board of five directors shall be elected, and from
their number a president and vice-president shall be chosen,
to whom shall be entrusted the management of its business.
The president and directors shall hold their offices for one
year, and until their successors shall be duly elected. The

oard of directors is hereby vested with power and authority
to do any act the company might lawfully do during their
continuance in office, and three ‘of said directors shall consti-
tute a board for the transaction of business.

4, The said company may purchase and hold real estate,
water-power or water rights, and all such other property as
in the judgment of its officers may be necossary to the suc-
cessful and profitable conduct of its business; may erect, equip
and operate woolen factories, and such other factories and
machinery as it may think proper; and may engaye in and
carry on any other business an individual may lawfully carry
on; may borrow money and execute notes for the payment
thereof; may lend money and reccive notes therefor, and notes
and bills of exchange may be made negotiable and payable
at the oftice of said company, and for non-payment may be
protested according to law; the said company may also re-
ceive money on deposit, and give certificates therefor, with
or without interest: provided that at no time shall an amount
exceeding five thousand dollars of the capital of the company
be used or be liable in any other way than for the purposes
of manufacturing.

5. The personal liability of the stockholders shall be limited
to the amount due and unpaid on the shares of stock owned
by such stockholders.

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