Chap. 343.—An ACT to incorporate the Rorer Iron Company.

Approved March 7, 1884.

1. Beit enacted by the general assembly of Virginia, That
Ferdinand Rorer, J. H. Sykes and EK. G. McClanahan, of
Roanoke county, Virginia; George M. Bartholemew and
Samuel Coit, of Iartford, Connecticut; and George N. Gray,
of Ironton, Ohio, and such others as may be associated with
them, be and they are hereby constituted a body corporate
under the name and style of the Rorer Lron Company.

€ 2. That the said company sball have power to make con-
tracts with persons, individual and corporate, to construct
works of improvement of any kind not forbidden by law, to
accept and execute trusts, to purchase, endorse, sue, pledge,
or otherwise dispose of honds, obligations and securities of a
public or private character; also to make and issue one or
more mortgages on the corporate property, and issue bonds
thereupon, payable at such times and for such amounts, with
such interests and at such places as may be deemed proper
for the benefit of the company ; also to assume, become re-
sponsible for, execute and carry out any contracts, leases or
kub-leases, made by any company, firm or individual, to or
with any company, firm or individual; and maintain and
conduct in its own name, and tor its own benefit, any such
work as it may by law properly do; and to co-operate and
unite with any other company, firm or individual, in so
dving ; also full power and authority to purchase, take, hold,
lease, grant, and convey property, real, personal and mixed,
and to improve the same by the erection and use of such
houses, manufactorics, and works, and other improvements,
as may be deemed expedient ; to lease and dispose of, by sale
and conveyance, any part of their property or the whole
thereof, aud with or without the franchise; to dispose of the
products of their enterprise in such markets and on such
terms as the company shall see fit; also to mine iron and
other ores, and manufacture the same into any merchantable
form, to develop, work, mine, transport or sell, coal, minerals,
chemicals, wood, timber, marble, stone, grain or other pro-
ducts of the land; and also to evlonine or settle the lands of
the company on such terms as the company shall deem desir-
able; also to reccive as subscriptions to the capital stock and
in payment thereof, bonds and stocks of any corporation,
money, lands, mines, metals, timber, goods and chattels,
leases, houses, material and labor; and there shall be no in-
dividual lHalilities upon the subscribers tor the stock, or sub-
sequent stockholders of the company, beyond the unpaid
balance upon the stock subscribed for.

§ 3. That the capital stock of the company shall be three
hundred thousand dollars, divided into shares of one hundred
dollars each, and the company shall bave the right to in-
creuse the said stock, trom time to time, to a sum noi exceed-
ing three million dollars.

8 4. The said company may hold real estate not to exceed
two hundred and tiity thousand acres s, and shall not hold such
land except in those counties through which the line of rail-
road hereinafter mentioned shall pass.

9. The principal office of the company shall be located at
Yale, Roanoke county, Virginia.

6. That the board ‘of directors shall consist of not less than
five nor more than seven stockholders, and the company may
vest in the board of directors such powers as they may deem
advisable for the interests of the company.

7. The annual mecting of the stockholders for the year
eighteen bundred and eighty-four, and thereatter. may be
held at such time and place as may be designated by the
stockholders or board of directors.

8. There shall be a president, vice-president, secretary and
treasurer, and the company shall have authority to appoint
such other officers or agents as the board of directors may
from time to time deem advisable for the best interests of the
company.

9, The said company shall have all the powers, rights and
franchises given, and subject to all the Habilities imposed by
Chapters fifty-six, fifty-seven and sixty-one of the Code of
elvhteen bundred and seventy-three, necessary and proper to
construct, equip and maintain a railroad to be run from
the town of Roanoke, in the county of Roanoke, by such
route as the company may determine. through the counties
of Roanoke, Franklin, and Patrick, or Floyd and Carroll, to
some point on the North Coralina line, within the counties
of Carroll or Patrick: provided that said company shall be re-
quired, under this act, in good faith to carry out and perform
all contracts made by the said Rorer Iron Company with land
proprietors over whose lands said company has already con-
structed a railroad, under its original charter, and by special
contracts with said land owners. The said road shall be com-
menced within two years, and completed within eight years
after the passage of this act.

10. That section thirty-six of chapter fifty-seven of the
Code of eighteen hundred and seventy-three, shall not apply
to the provisions of this charter.

11. This act shall be ir force from its passage.