Chap. 234.—An ACT to incorporate the Wythe, Bland, Carroll and
Grayson Telephone Company.

Approved February 26, 1886.

1. Be it enacted by the general assembly of Virginia, That
S. R. Sayers, George R. Dunn, G. S. Bruce, F. S. Blair, S.
C. Foote, H. G. Wadley, Dr. C. W. Gleaves, H. B. Maupin,
and Dr. George H. Zimmerman, of the county of Wythe;
D, W, Dunn, J. Hoge Thompson, Martin Williams, Henry
Newberry, W. Newton Waddle, and W. F. McColgan, of the
county of Bland; J. W. Hackler, S. M. Fulton, Eli C. Hale,
John W. Vaughan, of the county of Grayson; and James Wil-
kinson, J. W. Green, James M. Earley, and H. H. Johnston,
of the county of Carroll ; together with such other persons as
may become stockholders, their associates and successors, be
and they are hereby created and constituted a body corporate,
by the name of the Wythe, Bland, Carroll and Grayson Tele-
phone company; by which name it shall have perpetual suc-
cession, a common seal, may sue and be sued, contract and be
contracted with, have and own property necessary for its pur-
poses, real and personal, and shall have all the rights and pri-
vileges of a corporation, under the general laws of the state of
Virginia, and be subject to all the rules, regulations, and re-
strictions imposed by the laws of this state, so far as applicable
to said corporation and not inconsistent with the provisions of
this act. ; .

2. The said corporation is created for the purpose of con-
ducting the telephone business, and is authorized to erect,
keep, and own such line or lines of wire and telephone fixtures
and apparatus, as may be necessary for its purposes, anywhere
in the said counties of Wythe, Bland, Grayson, and Carroll,
and in each and all of them.

3. The said corporation shall have power to acquire, pur-
chase, own, hold and enjoy all real estate, easements, privi-
leges and franchises, necessary for the safe and convenient
erection, support and maintenance of its lines and the conduct
of its business, and may place and keep its posts and erect its
wires thereon, on and along any of the public highways in
each and all of said counties, provided the same be placed at
least five feet off the road-beds.

4. The capital stock of said company shall be not less than
five hundred nor more than twenty thousand dollars, and shall
be divided into shares of twenty-five dollars each; each share
to be entitled to one vote at all stockholders’ meetings; said
stock may be paid in money, posts, wire, labor expended in
erecting or operating said lines, in real or personal property,
as may be agreed on by the board of directors; and any three
of said incorporators may, at any time and place, before the
organization of the company, open books of subscription to
the capital stock of the company in any of said counties; and
when the minimum capital is subscribed, the board of directors
hereinafter named shall call a meeting of the stockholders and
incorporators for the purpose of organizing said company, by
electing its officers, as hereinafter stated.

5. The officers of said corporation shall be a president, vice-
president, secretary, treasurer, and board of directors, of not
less than five, nor more than twelve, to be elected annually at
a stockholders’ meeting, to be held in the town of Wytheville,
on the second Monday in May of each year; and they shall
hold until their successors are duly elected, and all vacancies
occurring in the membership of said board shall be filled by
the remaining directors; the appointees to hold until their
successors are duly elected, except that the first election under
this charter shall be held whenever a meeting is called for the
purpose, as provided in this act.

6. Until the first election under this charter, the following
persons shall be the board of directors of said company, to
wit: G. S. Bruce, S. G. Foote, Dr. S. R. Sayers, and H. G
Wadley, of Wythe county ; Martin Williams, of Bland; J. W.
Hackler, of Grayson ; and James Wilkinson, of Carroll.

7. The said company, through its board of directors, shall
have power to make by-laws and rules for its government, not
inconsistent with the constitution and laws of this state and of
the United States, and shall provide for the proper certifying,
registering, and transfer of the stock of the company.

This charter is granted upon the express condition that
all ‘licenses and taxes which may be assessed against said com-
pany, shall be paid in lawful money, and not in coupons; and
that the General Assembly regerves the right to amend, alter,
or repeal the same at pleasure.

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