Chap. 159.—An ACT to incorporate the Smithville and Drake’s
Branch Telephone Company.

| Approved February (8, 1886.

1. Be it enacted by the general assembly of Virginia, That
M. M: Martin, F. C. Thornton, E. F. Daniel, William Smith,
B. P. Eggleston, L. S. Jackson, T. J. Williams, D. C. Jackson
and D. Q. Eggleston, and such others as may be associated
with them, and their successors, be and they are hereby con-
stituted a body politic and incorporate, under the name of the
Smithville and Drake’s Branch Telephone Company, and as
such may sue and be sued, may have, make and use a common
seal, and the same to alter or change it at pleasure, and may
make such by-laws or regulations for the government of said
company as they may think were not in conflict with the laws
of this state or of the United States.

2. The said corporation shall have authority to acquire, erect
and maintain telephone and offices in the counties of Charlotte,
Prince Edward, Halifax; and may erect its line along the
public highways, but not to obstruct the same.

The capital stock of said company shall be not less than
three hundred dollars nor more than five thousand dollars, to
be divided into shares of ten dollars each.

4. The officers of said company shall be a president, secre-
tary and treasurer, and general manager, to be elected by the
board of directors, and a board of directors of not less than
five, to be elected by the stockholders in general meeting.

5. The liability and responsibility of the stockholders of said
company, shall be only to the extent of the stock held and paid
for by them, and for no more and no greater extent.

6. The said company may acquire and hold such real estate
as may be necessary for the conduct of their Jegitimate busi-
ness.

7. The said company may, by vote of a majority of its
stockholders, issue bonds bearing not more than six per cent.
interest, and mortgage its property, rights and franchises, for
its purpose of securing the payment of said bonds:

8. But if said company shall fail to pay all taxes and dues to
the state, in gold or legal currency of the United States, then
this charter shall be forfeited. .

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