Chap. 362.—An ACT to incorporate the Alleghany Elevator Company.
Approved March 10, 1884.

1. Be it enacted by the general assembly of Virginia, That
Thomas W. McCance, P. C. Warwick, J. P. Branch, E. A. Saun-
ders, A. Y. Stokes, H. D. Whitcomb, Co. L. Todd, P. A. Sublett,
James HL. Blair, H. B. Taliaferro, C. E. Redford, Franklin
Stearns, Thomas Potts, Isanc Davenport, Junior, A. 8. Lee,
George Lee, John Booker, R. Ll. Brown, W. D. Tompkins,
Jobn G. Spotts, T. C. Williams, L. L. Bass, and such other
persons as they may hereafter associate with them, shall be,
and they are hereby made and constituted a body politic and
corporate under the name and style of The Allegbany Eleva-
tor Company.

2. That the said company shall have the power and is
hereby authorized to erect and construct, at or near the city
of Richmond and such otber point or points within the state
of Virginia as it may determine, warehouses, elevators, con-
veyors, and other buildings and structures, and may pur-
chase, hold, and employ whatever agencies or property of
any description its business may require, not exceeding how-
ever, fifty acres of land in any one continuous tract.

3. That the said company may elevate and transfer grain
and other property, whether owned by said company or by
other parties, from cars, wagons, or carriages, boats, barges,
or vessels, into store-houses, warehouses, mills, cars, wagons,
or carriages, boats, barges, or vessels, and vice versa, and
also to warchouse, weigh, clean, and sture grain and other
property, whether owned by said company or by other par-
ties; and to ercet, buy or.lease necessary and suitable build-
Ings, conveyors, floating elevator structures, and machinery
therefor, and generally ‘to conduct such other business as may
be connected therewith.

4. That the said company may charge‘and collect such
rates and prices for elevating, transferring, warehousing, con-
veying, weighing, cleaning, and storing, or any or ‘either
thereof, as said company shall from time to time adopt, and
for any advances made by it on said grain, merchandise, gr
other property stored or deposited with it for shipment or
other purposes, and for its tolls, and rates aforesaid, and for
all its charges and expenses incident thereto, including the
expense of insuring, handling, keeping, and delivering such
property, the said company ‘shall bave a preferred lien on
said grain, merchandise, and other property, which shall be
paid before the said company shall be required to deliver the
same; and in detault of payment, said company may, upon
ten days’ notice, by advertixement of tho time and place of
sale, in some newspaper published in the city nearest such
elevator or other building, sell so much of said property as
may be requisite to discharge the amount of said lien.
5. That the capital stock of said company shall not exceed
the sum of one million of dollars, divided into shares of one
hundred dollars each, any portion of which said capital
stock may be made preferred or guaranteed in such man-
ner as the company may determine, but at all meetings of
the stockholders, each share shall be entitled to one vote; “and
to said capital stock any corporation, heretofore or hereafter
chartered under the laws of this state, is hereby authorized to
subscribe, and the stock so subscribed shall have the same
privileges and powers, and be subject to the same conditions
and regulations, as the stock held by other stockholders
therein: provided that no stock owned or held by any such
corporation, shall be voted, unless the same shall have been
fully paid for.

6. That said company may borrow money upon the issue
of its bonds or other evidences of debt, and pledge by mort
wage, deed, or otherwise, its property, right ts, and franchises
for the payment of the same; and power ts hereby given said
company to loan or advance money or other commodity on
such securities, and for such periods as said company may
think proper. And it shall be lawful for said company, with
the consent of two-thirds in interest of the stock of the said
company then outstanding, to sell or lease any of its lands,
elevators, warchouses, conveyors, buildings, and property of
every description, and it shall be lawful for any corporation
heretofore or hereafter chartered under the laws of this state,
to acquire such property, or any part thereof, by purchase
or lease: provided the rights of creditors be not impaired
thereby, and in case the property, or any portion of it, be let,
the lessce or lessees shall be entitled to the same rights and
privileges, so far as applies to the conduct of the property
and business, as are granted to the said company by this act.

7. That the principal office of said company shall be in
the city of Richmond, Virginia, and that the affairs of said
company shall be managed by such officers as it may desig-
nate, with power to make such by-laws, rules and regula-
tions, not inconsistent with the laws of this state, as they
may deem proper for the government of said Gompany.

8. The said company shall be subject to the laws govern-
ing corporations generally, as prescribed in’ the Code of
eizhteen hundred and seventy-three.

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