Chap. 534.—An ACT to incorporate the Cripple Creek Iron and Manu-
facturing Company.

Approved March 19, 1884.

1. Be it enacted by the general assembly of Virginia, That
M. B. Tate, James 8S. Crockett, J. W. Robinson, C. 8. Van-
lieu, Joseph J. Doran, W. C. Bullett, or such of them as may
accept the provisions of this act, their associates and suc-
cessors, be and they are hereby incorporated and made a
body politic and corporate, under the name and style of the
Cripple Creck Iron and Manufacturing 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 in equity, and may make and have a common seal, and
alter and renew the same at pleasure, and shall have, enjoy
and exercise all the rights, powers, and privileges pertaining
to corporate bodies, and necessary for the purpose of this
act, and may make by-laws, rules and regulations consistent
with the existing laws of the state, for the government of all
under its authority, the management of its estate and pro-
perties, and the due and orderly conduct of its affairs.

2. The capital stock of the said company shall not be less
than fifty thousand dollars, and may be increased to any
amount not exceeding two million five hundred thousand
dollars, by issue and sale of shares, the par value of which
shall not be less than fifty dollars, 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 suited to the business of
the company, in payment for subscriptions to the capital
stock, at such valuation as may be ayreed upon between the
directors and the subscribers.

3. The said company is authorized and empowered to pur-
chase, hold, own, lease, and control, in any manner, such real
estate, not to exceed thirty thousand acres in any one county,
in the countieS of Pulaski, Bland, Wythe, Smyth, Grayson
and Carroll, in the state of Virginia, as may be necessary for
the purposes of its business, and from time to time to manu-
facture iron and steel and other metals and articles composed
wholly or partly of iron and steel, and to sell and dispose of
the same, and to erect furnaces, rolling-mills, forges, mills,
machinery, fixtures, buildings, and the necessary appurte-
nances required in the conduct of their business; to mine
coal, iron, and other mincrals ; and to make, lease or contract
for these, or any of these purposes; and the said company
shall have the right, from time to time, to purchase, lease,
hold and convey iron ore, mineral and limestone lands, rights
and interests in lands situate in any county in the state of
Virginia or elsewhere; and to mine iron ore or other min-
erals therefrom, to prepare the same for market, and to trans-
port and sell the same.

4. The persons first named in this act, or such of them as
shall accept the provisions hereof, 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 meeting, 80 many
directors shall be elected as may be prescribed by the by-laws
and regulations of said company, who may be removed 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.

5. The board of directors shall be stockholders of said
company. They shall appoint one of their number president,
and may fill any vacancy that may occur in said board, unless
by removal; in which case the same shall be filled by the
stockholders in general meeting. Whenever the minimum
amount of capital stock herein named shall have been sub-
scribed, and the board of directors shall have elected a presi-
dent, said company shall be considered legally organized, and
may 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 security, as they
may deem fit. :

6. The board of directors may establish offices and agen-
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.

7. The annual meeting of the stockholders of the said
company shall be held at Vanlieu, in Wythe county, Vir-
ginia, on the first Wednesday of May, of each year, or as soon
thereafter as practicable, and on such other day, and at such
other place, as the stockholders may, by resolution adopted
in any annual meeting, to take effect at the next annual
meeting, prescribe. - A general 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 Cdde of Virginia,
edition of eighteen hundred and seventy-three.

8. The said company shall issue certificates of stock in
said company, to the subscribers thereof, in shares of not less
than fifty dollars each, signed by the president and counter-
signed by the secretary of said company. The said certifi-
cates shall be transferable only upon the books of the com-
pany, by the said subscribers, their personal representatives
or duly authorized agent or attorney; and the said certifi-
cates when so transferred, as aforesaid, may be returned to
the same 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.

9. 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 may secure the pay-
ment of said bonds by mortgages or deeds of trust, upon all
or any portion of its property and franchises, including its
franchise to be a corporation; and it shall be lawful for said
company to subscribe to, and hold shares in the capital stock
of any railroad company or other corporation, whenever the
board of directors of the company shall deem it to its interest
so to do.

10. No stockholder in said company shall be held liable or
made responsible for its debts and liabilitics, in a larger or
further sum than the amount of any unpaid balance due to
the said company for stock subscribed for by said stockholder.

11. Whenever this corporation shall exercise any of the
privileges conferred by this acs, it shall be liable to the same
taxes us may be imposed by law upon other like corporations
or persons exercising like privileges.

12. This act shall be in force from its passage, but the
general assembly of the state of Virginia, reserves the right
to modify, alter or repeal this act at any time hereafter.